Laredo Resources (ZTTO) 10-K 13 Dec 13 2013 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Aug. 31, 2013	Oct. 28, 2013
Document And Entity Information	'	'
Entity Registrant Name	'Laredo Resources Corp.	'
Entity Central Index Key	'0001499871	'
Document Type	'10-K	'
Document Period End Date	31-Aug-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--08-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Public Float	'	$0
Entity Common Stock, Shares Outstanding	'	178,500,000
Document Fiscal Period Focus	'FY	'
Document Fiscal Year Focus	'2013	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Aug. 31, 2013	Aug. 31, 2012
Current assets	'	'
Cash	$692	$368
Prepaid assets	1,000	'
Total Current Assets	1,692	368
Intangible asset, net of accumulated amortization of $3,209 and $0, respectively	13,291	'
TOTAL ASSETS	14,983	368
Current liabilities	'	'
Accounts payable and accrued liabilities	123,400	558
Advances from related party	105,901	'
Accrued interest, related party	1,156	3,998
Notes payable, related party	20,000	86,500
Total Current Liabilities	250,457	91,056
Stockholders' deficit	'	'
Preferred stock: $.001 par value, 10,000,000 shares authorized, none issued or outstanding	'	'
Common stock: $.001 par value, 4,500,000,000 shares authorized , 178,500,000 shares issued and outstanding	178,500	178,500
Additional paid-in capital	92,886	1,797
Deficit accumulated during the exploration stage	-506,860	-270,985
Total Stockholders' Deficit	-235,474	-90,688
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$14,983	$368

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Current assets	'	'
Intangible asset, net of accumulated amortization	$3,209	$0
Stockholders' deficit	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, Authorized	10,000,000	10,000,000
Preferred stock, Issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, Authorized	4,500,000,000	4,500,000,000
Common stock, Issued	178,500,000	178,500,000
Common stock, outstanding	178,500,000	178,500,000

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended		36 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
Consolidated Statements Of Operations	'	'	'
Revenues	'	'	'
Operating Expenses	'	'	'
Amortization expense	3,209	'	3,209
Accounting and audit	29,584	19,314	64,226
Foreign exchange (gain) loss	5	4	790
Legal fees	39,249	11,225	82,798
General and administrative	112,246	6,337	125,213
Mineral property exploration costs	10,000	'	14,500
Transfer and filing fees	27,784	5,092	36,016
Impairment of mineral property option	'	20,000	20,000
Total operating expenses	222,077	61,972	346,752
Net loss from operations	-222,077	-61,972	-346,752
Other income (expense)	'	'	'
Forgiveness of debt	'	10,000	10,000
Interest and financing expense	-13,798	-4,384	-19,593
Net other income (expense)	-13,798	5,616	-9,593
Net loss	($235,875)	($56,356)	($356,345)
Basic and diluted loss per share	$0	$0	'
Weighted average number of shares outstanding	178,500,000	178,500,000	'

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Deficit (USD $)	Preferred Stock	Common Stock	Additional Paid-In Capital	Deficit Accumulated During the Exploration Stage	Total
Beginning Balance, amount at Aug. 16, 2010	'	'	'	'	'
Beginning Balance, shares at Aug. 16, 2010	'	'	'	'	'
Capital stock issued to founder for cash, shares	'	100,000,000	'	'	'
Capital stock issued to founder for cash, amount	'	100,000	'	-84,375	15,625
Capital stock issued for cash, net of commission, shares	'	78,500,000	'	'	'
Capital stock issued for cash, net of commission, amount	'	78,500	'	-66,140	12,360
Net loss	'	'	'	-7,325	-7,325
Ending Balance, amount at Aug. 31, 2010	'	178,500	'	-157,840	20,660
Ending Balance, shares at Aug. 31, 2010	'	178,500,000	'	'	'
Capital contribution by president	'	'	895	'	895
Net loss	'	'	'	-56,789	-56,789
Ending Balance, amount at Aug. 31, 2011	'	178,500	895	-214,629	-35,234
Ending Balance, shares at Aug. 31, 2011	'	178,500,000	'	'	'
Capital contribution by president	'	'	902	'	902
Net loss	'	'	'	-56,356	-56,356
Ending Balance, amount at Aug. 31, 2012	'	178,500	1,797	-270,985	-90,688
Ending Balance, shares at Aug. 31, 2012	'	178,500,000	'	'	'
Capital contribution by president	'	'	25	'	25
Sale of subsidiary	'	'	91,064	'	91,064
Net loss	'	'	'	-235,875	-235,875
Ending Balance, amount at Aug. 31, 2013	'	$178,500	$92,886	($506,860)	($235,474)
Ending Balance, shares at Aug. 31, 2013	'	178,500,000	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended		36 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'	'
Net loss	($235,875)	($56,356)	($356,345)
Adjustment to reconcile Net loss to net cash used by operating activities:	'	'	'
Non cash interest expense - capital contribution	25	902	1,822
Forgiveness of debt	'	-10,000	-10,000
Impairment of mineral property option	'	20,000	20,000
Amortization	3,209	'	3,209
Changes in assets and liabilities:	'	'	'
Prepaid expenses	-1,000	3,000	-1,000
Accrued interest, related party	1,272	3,482	5,270
Accounts payable and accrued liabilities	123,292	-9,702	123,850
Advances from related party	105,901	'	105,901
Net Cash Used in Operating Activities	-3,176	-48,674	-107,293
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'	'
Acquisition of intangibles	-16,500	'	-26,500
Net Cash Used in Investing Activities	-16,500	'	-26,500
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'	'
Capital stock issued	'	'	27,985
Notes payable, related party	20,000	47,500	106,500
Net Cash Provided by Financing Activates	20,000	47,500	134,485
Net change in cash and cash equivalents	324	-1,174	692
Cash and cash equivalents, beginning of the period	368	1,542	'
Cash and cash equivalents, end of the period	692	368	692
Supplemental cash flow information:	'	'	'
Cash paid for interest	'	'	'
Cash paid for taxes	'	'	'
Non-cash transactions:	'	'	'
Accrual of mineral property	'	10,000	10,000
Accounts payable settled in connection with sale of subsidiary	450	'	450
Accrued interest, related party, settled in connection with sale of subsidiary	4,114	'	4,114
Note payable, related party, settled in connection with sale of subsidiary	86,500	'	86,500
Gain from foreign exchange	$2,324	'	$2,324

Nature_of_Operations_and_Abili

Nature of Operations and Ability to Continue as a Going Concern	12 Months Ended
	Aug. 31, 2013
Nature Of Operations And Ability To Continue As Going Concern	'
Note 1 - Nature of Operations and Ability to Continue as a Going Concern	'
	The Company was incorporated in the state of Nevada, United States of America on August 17, 2010. The Company’s year-end is August 31.
	On August 31, 2010, the Company incorporated a wholly-owned subsidiary, LRE Exploration LLC, (“LRE”) in the State of Nevada, United States of America (“USA”) for the purpose of mineral exploration in the USA. This subsidiary was sold in September 2012. See Note 9 for details.
	On November 30, 2010, LRE began its operations by entering into a property option agreement with Arbutus Minerals LLC. (“Arbutus”) whereby the Company was granted an option to earn up to a 100% interest in 20 mineral claims (the “ABR Claims”) located approximately 15 miles north of Elko, Nevada. During the year ended August 31, 2012, the Company abandoned the property.
	Effective October 30, 2012, the Company increased the number of authorized common shares of the Company from 90,000,000 to 4,500,000,000 shares per director’s resolution dated October 30, 2012. The Company also conducted a fifty to one forward stock split of the Company’s issued and outstanding common shares per director’s resolution. Following this stock split, the number of outstanding shares of the Company’s common stock increased from 3,570,000 shares to 178,500,000 shares. All share and per share information in these financial statements has been retro-actively restated for all periods presented to give effect of this stock split.
	These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. The Company has yet to achieve profitable operations, has accumulated losses of $506,860 since its inception and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Company’s ability to continue as a going concern.
	The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing from shareholders or other sources to meet its obligations and repay its liabilities arising from normal business operations when they become due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances, however there is no assurance of additional funding being available or on acceptable terms, if at all. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the company cannot continue in existence.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Aug. 31, 2013
Summary Of Significant Accounting Policies	'
Note 2 - Summary of Significant Accounting Policies	'
	Use of Estimates
	The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are stated in US dollars. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expense during the reporting period. Actual results could differ from those estimates.
	Principles of Consolidation
	These financial statements include the accounts of the Company and LRE Exploration LLC (LRE), until LRE was disposed of by sale to the former president on September 10, 2012. Accordingly, the statements of operations and cash flows presented include the results of LRE from September 1, 2011 to September 10, 2012, and the balance sheet presented at August 31, 2013 is solely that of Laredo Resources Corp. The balance sheet presented at August 31, 2012 comprises Laredo Resources Corp. and its wholly owned subsidiary LRE. All significant inter-company transactions and balances have been eliminated.
	Exploration Stage Company
	The Company is an exploration stage company. All losses accumulated since inception are considered part of the Company’s exploration stage activities.
	Cash and cash equivalents
	The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. There were $692 cash equivalents at August 31, 2013 and $368 at August 31, 2012.
	The Company minimizes its credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits. At August 31, 2013 and 2012, the balance did not exceed the federally insured limit.
	Intangible Asset
	The Company has applied the provision of ASC topic 350 - Intangible - goodwill and other, in accounting for its intangible asset. The intangible asset is being amortized by the straight line method on the basis of a useful life of 3 years. The intangible asset consists of website development costs. The balance at August 31, 2013 was $13,291, net of accumulated amortization of $3,209.
	Mineral Property
	The Company is primarily engaged in the acquisition, exploration and development of mineral properties.
	Mineral property acquisition costs are capitalized in accordance with FASB ASC 930, “Extractive Activities-Mining,” when management has determined that probable future benefits consisting of a contribution to future cash inflows have been identified and adequate financial resources are available or are expected to be available as required to meet the terms of property acquisition and budgeted exploration and development expenditures. Mineral property acquisition costs are expensed as incurred if the criteria for capitalization are not met.
	In the event that mineral property acquisition costs are paid with Company shares, those shares are recorded at the estimated fair value at the time the shares are due in accordance with the terms of the property agreements.
	Mineral property exploration costs are expensed as incurred.
	When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.
	Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.
	To date the Company has not established any proven or probable reserves on its mineral properties.
	Asset Retirement Obligations
	Asset retirement obligations (“ARO”) associated with the retirement of a tangible long-lived asset, are recognized as liabilities in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated assets. The cost of tangible long-lived assets, including the initially recognized ARO, is amortized, such that the cost of the ARO is recognized over the useful life of the assets. The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted fair value is accreted to the expected settlement value.
	The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate. As of August 31, 2013 and 2012, the Company has determined no provision for ARO’s is required.
	Impairment of Long- Lived Assets
	The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under FASB ASC 360-10-35-17 if events or circumstances indicate that their carrying amount might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using the rules of FASB ASC 930-360-35, Asset Impairment, and 360- 0 through 15-5, Impairment or Disposal of Long- Lived Assets.
	Foreign Currency Translation
	The Company’s functional currency is the United States dollar as substantially all of the Company’s operations are in the USA. The Company uses the United States dollar as its reporting currency for consistency with registrants of the Securities and Exchange Commission (“SEC”).
	Assets and liabilities denominated in a foreign currency are translated at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period.
	Translation adjustments from the use of different exchange rates from period to period are included in the Accumulated Other Comprehensive Income account in Stockholders’ Equity, if applicable.
	Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses are included in the consolidated statements of operations.
	Earnings per share
	In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive. As there are no common stock equivalents outstanding, diluted and basic loss per share are the same.
	Income Taxes
	The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry-forwards and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
	The effect of a change in tax rules on deferred tax assets and liabilities is recognized in operations in the year of change. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized.
	Stock-based Compensation
	The Company is required to record compensation expense, based on the fair value of the awards, for all awards granted after the date of the adoption.
	Comprehensive Income
	The Company is required to report comprehensive income, which includes net loss as well as changes in equity from non-owner sources.
	Reclassifications
	Certain reclassifications have been made to prior year financial statements in order for them to be in conformity with the current year presentation. The reclassifications had no impact on change in net assets.
	Newly Issued Accounting Pronouncements
	The Company feels there are no newly issued accounting pronouncements that will materially impact its financial position, cash flows or results of operations.

Financial_Instruments

Financial Instruments	12 Months Ended
	Aug. 31, 2013
Financial Instruments	'
Note 3 - Financial Instruments	'
	Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability.
	The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should include consideration of non-performance risk including our own credit risk.
	In addition to defining fair value, the standard expands the disclosure requirements around fair value and establishes a fair value hierarchy for valuation inputs. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are:
	Level 1 - inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.
	Level 2 - inputs are based upon significant observable inputs other than quoted prices included in Level 1, such as quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
	Level 3 - inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.
	The carrying value of the Company’s financial assets and liabilities which consist of cash, accounts payable and accrued liabilities, and notes payable in management’s opinion approximates fair value due to the short maturity of such instruments. These financial assets and liabilities are valued using level 3 inputs, except for cash which is at level 1. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, exchange or credit risks arising from these financial instruments.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Aug. 31, 2013
Related Party Transactions	'
Note 4 - Related Party Transactions	'
	On September 10, 2012, the Company assigned all membership units of LRE to the former President of the Company and received as consideration the release and discharge of all liabilities under all the promissory notes and accrued interest to the date of the transaction. As at August 31, 2012, this amount aggregated $90,688.
	On September 10, 2012, the Company issued a promissory note in the amount of $20,000 to a Company controlled by the Company’s newly appointed president and received $20,000 cash in exchange. The promissory note is unsecured, bears interest at 6% per annum, and matures on September 10, 2013. During the year ended August 31, 2013, the Company accrued $1,156 of interest expense with respect to this note payable.
	In addition, during the year ended August 31, 2013, the Company CEO paid various vendor invoices on behalf of the Company. These are shown on the consolidated balance sheet as Advances from related party and amount to $105,901. $76,300 of this is management fees and is included in general and administrative expenses on the consolidated statement of operations.

Note_Payable

Note Payable	12 Months Ended
	Aug. 31, 2013
Note Payable	'
Note 5 - Note Payable	'
	On September 10, 2012, the Company CEO loaned $20,000 to the Company. See Note 4 for details.

Capital_Stock

Capital Stock	12 Months Ended
	Aug. 31, 2013
Capital Stock	'
Note 6 - Capital Stock	'
	The Company has 10,000,000 shares of authorized preferred stock with a par value of $0.001 per share. There were zero shares of preferred stock issued and outstanding as of August 31, 2013 and 2012.
	Effective October 30, 2012, the Company increased the number of authorized common shares of the Company from 90,000,000 to 4,500,000,000 shares per a director’s resolution dated October 30, 2012.
	The Company also conducted a fifty to one forward stock split of the Company’s issued and outstanding common shares per a director’s resolution. Following this stock split, the number of outstanding shares of the Company’s stock increased from 3,570,000 shares to 178,500,000 shares. All shares and per share information in these financial statements have been retro-actively restated for all periods presented to give effect of this stock split.

Forgiveness_of_Debt

Forgiveness of Debt	12 Months Ended
	Aug. 31, 2013
Forgiveness Of Debt	'
Note 7 - Forgiveness of Debt	'
	On November 30, 2010, LRE entered into a property option agreement (amended April 3, 2012) with Arbutus Minerals LLC (“Arbutus”) whereby the Company was granted an option to earn up to a 100% interest in 20 mineral claims (the “ABR Claims”) located approximately 15 miles north of Elko, Nevada. Arbutus holds only the mineral rights to the ABR Claims as the ABR Claims are on Bureau of Land Management managed land. Consideration for the option consists of cash payments to Arbutus totaling $90,000, and aggregate exploration expenditures of $295,000.
	As of August 31, 2012, the Company had incurred $10,000 in acquisition costs and accrued an additional $10,000 in the form of option payments to Arbutus per the option agreement. During August 2012, the Company abandoned the property and all property option costs incurred were written off. The Company also negotiated the forgiveness of $10,000 which was due pursuant to the property option agreement on November 30, 2012.

Income_Taxes

Income Taxes	12 Months Ended
	Aug. 31, 2013
Income Taxes	'
Note 8 - Income Taxes	'
	A reconciliation of the income tax provision computed at statutory rates to the reported tax provision is as follows:
		Year Ended August 31,
		2013			2012
	Basic statutory and state income tax rate		35	%		35	%
	Approximate loss before income taxes	$	235,875		$	56,356
	Expected approximate tax recovery on net loss, before income tax	$	83,000		$	19,700
	Valuation allowance		(83,000	)		(19,700	)
	Deferred income tax recovery	$	-		$	-
	Significant components of the Company’s deferred tax assets and liabilities are as follows:
		Year Ended			Year Ended
		August 31,			August 31,
		2013			2012
	Deferred income tax assets
	Non-capital losses carried forward	$	125,200		$	42,200
	Less: valuation allowance		(125,200	)		(42,200	)
	Deferred income tax assets	$	-		$	-
	At August 31, 2013, the Company has incurred accumulated net operating losses in the United States of America totaling approximately $356,345 which are available to reduce taxable income in future years.
	These losses expire as follows:
	Year of Expiration	Amount
	2030	$	7,325
	2031		56,789
	2032		56,356
	2033		235,875
		$	356,345
	The amount taken into income as deferred tax assets must reflect that portion of the income tax loss carry forwards that is more-likely-than-not to be realized from future operations. The Company has chosen to provide an allowance of 100% against all available income tax loss carry forwards, regardless of their time of expiry.

Sale_of_Subsidiary

Sale of Subsidiary	12 Months Ended
	Aug. 31, 2013
Sale Of Subsidiary	'
Note 9 - Sale of Subsidiary	'
	On September 10, 2012, the Company assigned all membership units of LRE to the former President of the Company and received as consideration the release and discharge of all liabilities under all promissory notes and accrued interest entered into prior to August 31, 2012.
	The following table summarized the identifiable assets and liabilities of LRE that were disposed of, the consideration received, and the loss of LRE for the period from September 1, 2012 to September 10, 2012.
		10-Sep-12
	Identifiable Assets and Liabilities
	Account payable	$	(450	)
	A mount owed to Laredo Resources Corp.		(17,550	)
	Net liabilities of LRE		(18,000	)
	Consideration Received
	Settlement of accounts payable, promissory notes, and accrued interest		91,064
	Elimination of accumulated losses of LRE		18,000
			109,064
	Sale of subsidiary - related party	$	91,064

Subsequent_Events

Subsequent Events	12 Months Ended
	Aug. 31, 2013
Subsequent Events	'
Note 10 - Subsequent Events	'
	On September 1, 2013 the Company entered into an agreement with Magna Management Ltd. (“Magna”) to increase the number of authorized shares to 2 billion shares and constitute a class of convertible preferred shares to be solely issued to Magna. This is exchange for paying $240,000 on behalf of the Company toward the purchase price of property mining rights associated with property located near Pony, Montana.
	In addition, on September 1, 2013, the Company entered into a convertible note payable for $240,000 with an interest rate of ten percent per annum with Magna.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Aug. 31, 2013
Summary Of Significant Accounting Policies Policies	'
Use of Estimates	'
	The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are stated in US dollars. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expense during the reporting period. Actual results could differ from those estimates.
Principles of Consolidation	'
	These financial statements include the accounts of the Company and LRE Exploration LLC (LRE), until LRE was disposed of by sale to the former president on September 10, 2012. Accordingly, the statements of operations and cash flows presented include the results of LRE from September 1, 2011 to September 10, 2012, and the balance sheet presented at August 31, 2013 is solely that of Laredo Resources Corp. The balance sheet presented at August 31, 2012 comprises Laredo Resources Corp. and its wholly owned subsidiary LRE. All significant inter-company transactions and balances have been eliminated.
Exploration Stage Company	'
	The Company is an exploration stage company. All losses accumulated since inception are considered part of the Company’s exploration stage activities.
Cash and cash equivalents	'
	The Company considers all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents. There were $692 cash equivalents at August 31, 2013 and $368 at August 31, 2012.
	The Company minimizes its credit risk associated with cash by periodically evaluating the credit quality of its primary financial institution. The balance at times may exceed federally insured limits. At August 31, 2013 and 2012, the balance did not exceed the federally insured limit.
Intangible Assets	'
	The Company has applied the provision of ASC topic 350 - Intangible - goodwill and other, in accounting for its intangible asset. The intangible asset is being amortized by the straight line method on the basis of a useful life of 3 years. The intangible asset consists of website development costs. The balance at August 31, 2013 was $13,291, net of accumulated amortization of $3,209.
Mineral Property	'
	The Company is primarily engaged in the acquisition, exploration and development of mineral properties.
	Mineral property acquisition costs are capitalized in accordance with FASB ASC 930, “Extractive Activities-Mining,” when management has determined that probable future benefits consisting of a contribution to future cash inflows have been identified and adequate financial resources are available or are expected to be available as required to meet the terms of property acquisition and budgeted exploration and development expenditures. Mineral property acquisition costs are expensed as incurred if the criteria for capitalization are not met.
	In the event that mineral property acquisition costs are paid with Company shares, those shares are recorded at the estimated fair value at the time the shares are due in accordance with the terms of the property agreements.
	Mineral property exploration costs are expensed as incurred.
	When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves and pre-feasibility, the costs incurred to develop such property are capitalized.
	Estimated future removal and site restoration costs, when determinable are provided over the life of proven reserves on a units-of-production basis. Costs, which include production equipment removal and environmental remediation, are estimated each period by management based on current regulations, actual expenses incurred, and technology and industry standards. Any charge is included in exploration expense or the provision for depletion and depreciation during the period and the actual restoration expenditures are charged to the accumulated provision amounts as incurred.
	To date the Company has not established any proven or probable reserves on its mineral properties.
Asset Retirement Obligations	'
	Asset retirement obligations (“ARO”) associated with the retirement of a tangible long-lived asset, are recognized as liabilities in the period in which it is incurred and becomes determinable, with an offsetting increase in the carrying amount of the associated assets. The cost of tangible long-lived assets, including the initially recognized ARO, is amortized, such that the cost of the ARO is recognized over the useful life of the assets. The ARO is recorded at fair value, and accretion expense is recognized over time as the discounted fair value is accreted to the expected settlement value.
	The fair value of the ARO is measured using expected future cash flow, discounted at the Company’s credit-adjusted risk-free interest rate. As of August 31, 2013 and 2012, the Company has determined no provision for ARO’s is required.
Impairment of Long- Lived Assets	'
	The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The assets are subject to impairment consideration under FASB ASC 360-10-35-17 if events or circumstances indicate that their carrying amount might not be recoverable. When the Company determines that an impairment analysis should be done, the analysis will be performed using the rules of FASB ASC 930-360-35, Asset Impairment, and 360- 0 through 15-5, Impairment or Disposal of Long- Lived Assets.
Foreign Currency Translation	'
	The Company’s functional currency is the United States dollar as substantially all of the Company’s operations are in the USA. The Company uses the United States dollar as its reporting currency for consistency with registrants of the Securities and Exchange Commission (“SEC”).
	Assets and liabilities denominated in a foreign currency are translated at the exchange rate in effect at the balance sheet date and capital accounts are translated at historical rates. Income statement accounts are translated at the average rates of exchange prevailing during the period.
	Translation adjustments from the use of different exchange rates from period to period are included in the Accumulated Other Comprehensive Income account in Stockholders’ Equity, if applicable.
	Transactions undertaken in currencies other than the functional currency of the entity are translated using the exchange rate in effect as of the transaction date. Any exchange gains and losses are included in the consolidated statements of operations.
Earnings per share	'
	In accordance with accounting guidance now codified as FASB ASC Topic 260, “Earnings per Share,” basic earnings per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to all dilutive potential of shares of common stock outstanding during the period including stock options or warrants, using the treasury stock method (by using the average stock price for the period to determine the number of shares assumed to be purchased from the exercise of stock options or warrants), and convertible debt or convertible preferred stock, using the if-converted method. Diluted EPS excludes all dilutive potential of shares of common stock if their effect is anti-dilutive. As there are no common stock equivalents outstanding, diluted and basic loss per share are the same.
Income Taxes	'
	The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry-forwards and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
	The effect of a change in tax rules on deferred tax assets and liabilities is recognized in operations in the year of change. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized.
Stock-based Compensation	'
	The Company is required to record compensation expense, based on the fair value of the awards, for all awards granted after the date of the adoption.
Comprehensive Income	'
	The Company is required to report comprehensive income, which includes net loss as well as changes in equity from non-owner sources.
Reclassifications	'
	Certain reclassifications have been made to prior year financial statements in order for them to be in conformity with the current year presentation. The reclassifications had no impact on change in net assets.
Newly Issued Accounting Pronouncements	'
	The Company feels there are no newly issued accounting pronouncements that will materially impact its financial position, cash flows or results of operations.

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
	Aug. 31, 2013
Income Taxes Tables	'
Reconciliation of the income tax provision	'
	A reconciliation of the income tax provision computed at statutory rates to the reported tax provision is as follows:
		Year Ended August 31,
		2013			2012
	Basic statutory and state income tax rate		35	%		35	%
	Approximate loss before income taxes	$	235,875		$	56,356
	Expected approximate tax recovery on net loss, before income tax	$	83,000		$	19,700
	Valuation allowance		(83,000	)		(19,700	)
	Deferred income tax recovery	$	-		$	-
Significant components of the Company's deferred tax assets and liabilities	'
	Significant components of the Company’s deferred tax assets and liabilities are as follows:
		Year Ended			Year Ended
		August 31,			August 31,
		2013			2012
	Deferred income tax assets
	Non-capital losses carried forward	$	125,200		$	42,200
	Less: valuation allowance		(125,200	)		(42,200	)
	Deferred income tax assets	$	-		$	-
Losses expire	'
	These losses expire as follows:
	Year of Expiration	Amount
	2030	$	7,325
	2031		56,789
	2032		56,356
	2033		235,875
		$	356,345

Sale_of_Subsidiary_Tables

Sale of Subsidiary (Tables)	12 Months Ended
	Aug. 31, 2013
Sale Of Subsidiary Tables	'
Assets and liabilities disposed, subsidiary	'
	The following table summarized the identifiable assets and liabilities of LRE that were disposed of, the consideration received, and the loss of LRE for the period from September 1, 2012 to September 10, 2012.
		10-Sep-12
	Identifiable Assets and Liabilities
	Account payable	$	(450	)
	A mount owed to Laredo Resources Corp.		(17,550	)
	Net liabilities of LRE		(18,000	)
	Consideration Received
	Settlement of accounts payable, promissory notes, and accrued interest		91,064
	Elimination of accumulated losses of LRE		18,000
			109,064
	Sale of subsidiary - related party	$	91,064

Nature_of_Operations_and_Abili1

Nature of Operations and Ability to Continue as a Going Concern (Details Narrative) (USD $)	Aug. 31, 2013
Nature Of Operations And Ability To Continue As Going Concern Details Narrative	'
Accumulated losses	$506,860

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details Narrative) (USD $)	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2011	Aug. 16, 2010
Summary Of Significant Accounting Policies Details Narrative	'	'	'	'
Cash equivalents	$692	$368	$1,542	'
Intangible assets, net	13,291	'	'	'
Accumulated amortization	$3,209	$0	'	'

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	12 Months Ended
	Aug. 31, 2013	Aug. 31, 2012
Related Party Transactions Details Narrative	'	'
Release and discharge of subsidiary liabilities	'	$90,688
Interest expense	1,156	'
Advances from related party	105,901	'
Management fees	$76,300	'

Capital_Stock_Details

Capital Stock (Details) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Capital Stock Details	'	'
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$0.00	$0.00
Preferred stock issued	0	0
Preferred stock outstanding	0	0

Forgiveness_of_Debt_Details_Na

Forgiveness of Debt (Details Narrative) (USD $)	12 Months Ended
	Aug. 31, 2013
Forgiveness Of Debt Details Narrative	'
Acquisition costs	$10,000
Accrued an additional option payments	$10,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	12 Months Ended
	Aug. 31, 2013	Aug. 31, 2012
Income Taxes Details	'	'
Basic statutory and state income tax rate	35.00%	35.00%
Approximate loss before income taxes	$235,875	$56,356
Expected approximate tax recovery on net loss, before income tax	83,000	19,700
Valuation allowance	-83,000	-19,700
Deferred income tax recovery	'	'

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	Aug. 31, 2013	Aug. 31, 2012
Deferred income tax assets	'	'
Non-capital losses carried forward	$125,200	$42,200
Less: valuation allowance	-125,200	-42,200
Deferred income tax assets	'	'

Income_Taxes_Details_2

Income Taxes (Details 2) (USD $)	12 Months Ended
	Aug. 31, 2013
Amount of losses expire	$356,345
Year of Expiration 1 [Member]	'
Year of Expiration	'2030
Amount of losses expire	7,325
Year of Expiration 2 [Member]	'
Year of Expiration	'2031
Amount of losses expire	56,789
Year of Expiration 3 [Member]	'
Year of Expiration	'2032
Amount of losses expire	56,356
Year of Expiration 4 [Member]	'
Year of Expiration	'2033
Amount of losses expire	$235,875

Sale_of_Subsidiary_Details

Sale of Subsidiary (Details) (USD $)	Sep. 10, 2012
Sale Of Subsidiary Details	'
Accounts payable disposed	($450)
Amount owed to Laredo Resources Corp disposed	-17,550
Net liabilities disposed	-18,000
Settlement of liabilities, consideration received	91,064
Elimination of accumulated losses of subsidiary	18,000
Total consideration received	109,064
Sale of subsidiary, related party-	$91,064