UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)
              [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended: March 31, 2003

             [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE
                                  EXCHANGE ACT

     For the transition period from ______________to ____________

                        Commission file number 000-27959

                            Laredo Investment Corp.
        (Exact name of small business issuer as specified in its charter)


            Nevada                                             77-0517964
 (State or other jurisdiction                                 (IRS Employer
of incorporation or organization)                            Identification No.)

        Suite 11405 - 201A Street, Maple Ridge, British Columbia V2X 0Y3
                    (Address of principal executive offices)

                                 (604) 460-8440
                            Issuer's telephone number

         (Former name,  former  address and former fiscal year, if changed since
last report.)

                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares  outstanding of each of the issuer's classes
of common equity, as of the latest practical date: May 14, 2003 32,398,460

         Transitional Small Business Disclosure Format (check one).
Yes      ;  No   X

                                      -1-
<PAGE>


                         PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                             LAREDO INVESTMENT CORP.
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                                       $US
                                                                     March 31,
                                                                        2003
                                                                    -----------
ASSETS
Current Assets:
Cash and Cash Equivalents                                           $       --
Receivables                                                             670,601
Inventory                                                               762,742
Prepaid Expense                                                          62,791
                                                                    -----------
     Total Current Assets                                             1,496,134
                                                                    -----------

Fixed Assets:
Manufacturing Equipment                                                 764,856
Office Equipment                                                         73,065
Furniture & Fixtures                                                      3,525
Leasehold Improvements                                                   41,814
                                                                    -----------
                                                                        883,260
Less Accumulated Depreciation                                          (162,408)
                                                                    -----------
                                                                        720,852
                                                                    -----------

TOTAL ASSETS                                                        $ 2,216,986
                                                                    ===========


                                      -2-
<PAGE>

                             LAREDO INVESTMENT CORP.
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                                       $US
                                   (Continued)
                                                                      March 31,
                                                                         2003
                                                                    -----------
LIABILITIES
Current Liabilities:
Accounts Payable and Accrued Liabilities                            $   823,211
Bank Overdraft                                                           29,139
Bank Line                                                                  --
Short-Term Loans & Notes Payable                                           --
Related Party Loans                                                      93,719
Shareholder Payables                                                       --
Current Portion of Long-Term Debt                                        70,922
                                                                    -----------

     Total Current Liabilities                                        1,016,991
                                                                    -----------

Long Term Debt                                                           45,777
Lease Obligations                                                       190,175
                                                                    -----------

     Total Liabilities                                                1,252,943
                                                                    -----------

STOCKHOLDERS EQUITY
Common Stock - $0.01 par value,
  100,000,000 shares authorized,
  32,398,460 shares issued and
  outstanding at March 31, 2003                                          33,285
Additional Paid in Capital                                              666,757
Currency Translation Adjustment                                          14,237
Retained Earnings (Deficit)                                             249,765
                                                                    -----------

     Total Stockholders' Equity                                         964,044
                                                                    -----------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                          $ 2,216,986
                                                                    ===========

                            See accompanying notes.


                                      -3-
<PAGE>


                             LAREDO INVESTMENT CORP.
                       CONSOLIDATED STATEMENT OF OPERATION
                                   (Unaudited)
                                       $US
                                                   For the three months ended
                                                           March 31,
                                                 ------------------------------
                                                    2003                2002
                                                 ------------      ------------
REVENUES
Sales                                            $  1,126,076      $  1,158,974
Cost of Sales                                         719,795           789,278
                                                 ------------      ------------
Gross margin                                          406,281           369,696

EXPENSES
  Selling & Marketing                                   9,294             9,018
  General & Administrative                            289,021           143,693
                                                      298,315           152,711
                                                 ------------      ------------

Net Income from Operations                            107,966           216,985
                                                 ------------      ------------

Other Income (Expense)
  Interest, Net                                          (358)          (17,345)
  Currency Exchange, Net                               26,520            (5,538)
                                                 ------------      ------------

Net Income (Loss)
  Before Income Taxes                                 134,127           194,102
Income Tax Expense                                     53,965
                                                 ------------      ------------

NET INCOME (LOSS)                                $     80,163      $    194,102
                                                 ============      ============

Weighted Avergae Shares Outstanding                32,365,640        32,200,000
                                                 ============      ============

Earnings (Loss) Per Share                        $       --        $       0.01
                                                 ============      ============


                            See accompanying notes.


                                      -4-
<PAGE>



                             LAREDO INVESTMENT CORP.
                       CONSOLIDATED STATEMENT OF CASH FLOW
                                   (Unaudited)
                                       $US
<TABLE>
<CAPTION>

                                                                    For the three months ended
                                                                      March 31,     March 31,
                                                                    -----------    -----------
                                                                        2003           2002
                                                                    -----------    -----------

Cash Flows From Operating Activities
<S>                                                                 <C>            <C>
  Net Income (loss) for the period                                  $    80,163    $   194,102
Adjustments to reconcile net loss to net cash
  Provided by operationg activities
    Currency Translation Adjustment                                      18,920           (567)
    Depreciiation and Amortization                                       13,261         12,595
    Decrease (Increase) in Receivables                                   12,386       (338,341)
    Decrease (Increase) in Inventory                                   (198,366)       230,724
    Decrease (Increase) in Prepaid Expense                              (37,621)        (1,661)
    Increase (Decrease) in Accounts Payable & Accrued Liabilities       176,781        (67,436)
    Increase (Decrease) in Bank Overdraft                               (52,137)       (13,619)
Net Cash Provided by (Used in) Operating Activities                      13,387         15,797
                                                                    -----------    -----------

Cash Flows From Investing Activities
  Purchase of Property and Equipment                                    (68,092)        (1,696)
Net Cash Used by Investing Activities                                   (68,092)        (1,696)
                                                                    -----------    -----------

Cash Flows From Financing Activities
  Proceeds/(Payments) on Bank Line                                         --           (3,162)
 Proceeds/(Payments) on Shareholder Payables                            (26,658)        (1,069)
 Proceeds Leasing                                                          --           (4,532)
  Principle Payment on Long-Term Debt                                    81,363         (5,338)
Net Cash Provided by (Used in) Financing Activities                      54,705        (14,101)
                                                                    -----------    -----------

Increase (Decrease) in Cash                                                --             --
Cash at beginning of period                                                --             --
                                                                    -----------    -----------
Cash at End of Period                                               $      --      $      --
                                                                    ===========    ===========

Supplemntal Disclosure of Interest and Income Taxes Paid
  Interest paid during the period                                   $     3,235    $     7,494
                                                                    ===========    ===========
  Income taxes paid during the period                               $      --      $      --
                                                                    ===========    ===========

Supplemental Disclosure of Non-cash Investing and Financing
Activities
  Manufacturing Equipment on Capital Lease                          $    73,140    $      --
                                                                    ===========    ===========
  Shares issued in satisfaction of notes payable                    4      --      $      --
                                                                    ===========    ===========
</TABLE>

                             See accompanying notes.

                                      -5-
<PAGE>

                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003

NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         This summary of accounting  policies for Laredo  Investment  Corp.  and
Subsidiaries  (the  "Company")  is  presented  to  assist in  understanding  the
Company's  financial  statements.  The accounting  policies conform to generally
accepted  accounting  principles  and  have  been  consistently  applied  in the
preparation of the financial statements.

Interim Financial Statements

         The unaudited financial statements for the three months ended March 31,
2003 reflect, in the opinion of management,  all adjustments (which include only
normal recurring  adjustments)  necessary to fairly state the financial position
and results of  operations  for the three  months ended March 31, 2003 and 2002.
Operating  results for interim  periods are not  necessarily  indicative  of the
results which can be expected for full years.

Organization and Basis of Presentation

         The Company was  incorporated  under the laws of the State of Nevada on
December 18, 1996. The Company ceased all operating activities during the period
from December 18, 1996 to July 9, 1999 and was  considered  dormant.  On July 9,
1999,  the Company  obtained a Certificate  of renewal from the State of Nevada.
From July 9, 1999 to January 21, 2000, the Company was in the development stage.

         On January 21, 2000, the Laredo  entered into an Acquisition  Agreement
with GFR  Nutritionals,  Ltd., a British Columbia  corporation,  (GFR),  Richard
Pierce and Lucretia Schanfarber (the GFR Majority Shareholders) to acquire their
shares  representing 100% of the outstanding common stock of GFR in exchange for
19,000,000  newly  issued  shares  of  Laredo's  restricted  common  stock.  The
transaction was recorded as a reverse acquisition. GFR was incorporated in March
1997 as Helm  Developments  Ltd. In June 1998, the Company  formally changed its
name to GFR  Nutritionals  Ltd.  GFR was 100%  owned by the  President  and CEO,
Richard  Pierce from inception  until January 17, 2000,  when a 10% interest was
acquired by Lucretia  Schanfarber.  Business  operations  began in October  1998
after acquiring manufacturing equipment and arranging to manufacture nutritional
supplements under a private label contract.

         On June 21, 2000,  the Company  entered into an  Acquisition  Agreement
with Nutritionals (USA) Direct.Com, a Washington corporation,  (NDC), to acquire
100%  of the  outstanding  common  stock  of NDC in  exchange  for  $1,000.  The
transaction  has been recorded as a purchase.  NDC operations were wound down in
October 2002 and the company became dormant.

         On July 12, 2000,  the Company  entered into an  Acquisition  Agreement
with WST Web Search Technologies,  Inc., a Saskatchewan  corporation,  (WST), to
acquire 100% of the  outstanding  common stock of WST in exchange for 10,000,000
newly issued shares of the Company's restricted common stock (3,000,000 from the
treasury and 7,000,000 from the Company's  President).  The transaction has been
recorded as a purchase. On May 7, 2002, the company rescinded the acquisition of
WST.  WST had no  operations  during  the  time the  Company  owned  it.  In the
disposition,  the Company  exchanged  100% of its shares of WST in exchange  for
10,000,000  shares  of the  Company,  3,000,000  shares  to be  returned  to the
treasury and cancelled,  and 7,000,000 to be returned to the Company's President
Richard Pierce.

                                      -6-
<PAGE>

                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

         On November 1, 2000, the Company entered into an Acquisition  Agreement
with R & L  Health,  Inc.  (formerly  ProHealth  Nutritionals  Ltd.),  a British
Columbia corporation,  (R&L), to acquire 100% of the outstanding common stock of
R&L in exchange for $0.01. The transaction has been recorded as a purchase.

Principles of Consolidation

         The consolidated financial statements for December 31,2001 and the year
ended include the accounts of Laredo  Investment  Corp. and the following wholly
owned subsidiaries:

         *        GFR Nutritionals, Ltd., a British Columbia corporation

         *        Nutritionals(USA) Direct.com, a Washington corporation

         *        WST Web Search Technologies, Inc., a Saskatchewan corporation

         *        ProHealth Nutritionals Ltd., a British Columbia corporation

         The results of subsidiaries  acquired during the year are  consolidated
from their effective dates of acquisition.  The results of subsidiaries disposed
of during the year are consolidated through their effective dates of disposition

         All  significant  inter-company  accounts  and  transactions  have been
eliminated.

Nature of Business

         The Company  specializes in formulating,  blending,  encapsulating  and
packaging  nutritional  products.  The Company's  operations  are located in the
province of British Columbia, Canada.

Cash and Cash Equivalents

         For purposes of the statement of cash flows, the Company  considers all
highly liquid debt instruments purchased with a maturity of three months or less
to be cash equivalents to the extent the funds are not being held for investment
purposes.

Inventories

         Raw materials  inventory is stated at a lower of weighted  average cost
and replacement  value.  Inventories of work in progress are stated at the lower
of weighted average cost and net realizable value.


                                      -7-
<PAGE>
                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued

Depreciation

         Fixed  assets  are stated at cost.  Depreciation  and  amortization  is
calculated  on a  straight-line  basis over the  estimated  useful  lives of the
assets as follows:

                  Asset                                              Rate

           Manufacturing equipment                              10-20 years

           Furniture and fixtures                               5-7 years

           Office equipment                                     3-5 years

           Computer Software                                    4 years

           Leasehold improvements                               Term of lease

         Maintenance  and  repairs are charged to  operations;  betterments  are
capitalized.  The  cost  of  property  sold  or  otherwise  disposed  of and the
accumulated  depreciation  thereon is  eliminated  from the property and related
accumulated depreciation accounts, and any resulting gain or loss is credited or
charged to income.

         The Company has adopted the Financial  Accounting  Standards Board SFAS
No., 121,  "Accounting  for the  Impairment of Long-lived  Assets." SFAS No. 121
addresses  the  accounting  for (i)  impairment of  long-lived  assets,  certain
identified  intangibles and goodwill  related to assets to be held and used, and
(ii) long-live lived assets and certain identifiable  intangibles to be disposed
of.  SFAS No. 121  requires  that  long-lived  assets and  certain  identifiable
intangibles  be held and used by an entity be reviewed for  impairment  whenever
events or changes in circumstances indicate that the carrying amount of an asset
may not be  recoverable.  If the sum of the expected  future cash flows from the
used of the  asset  and its  eventual  disposition  (un-discounted  and  without
interest  charges) is less than the carrying  amount of the asset, an impairment
loss is recognized.

Revenue recognition

         Revenue is recognized  from sales of product at the time of shipment to
customers.






                                      -8-

<PAGE>
                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Foreign currency remeasurement/translation

         The  Company's  primary  functional  currency is the  Canadian  dollar.
Monetary  assets  and  liabilities  resulting  from  transactions  with  foreign
suppliers and customers are  remeasured at year-end  exchange  rates.  All other
assets,  liabilities,  and  stockholders'  equity are  remeasured  at historical
exchange rates for past  transactions and at year-end exchange rates for current
and future  transactions.  Revenue and expense  accounts are  remeasured  at the
average exchange rates in effect during the year, except those related to assets
and   liabilities,   which  are   remeasured  at  historical   exchange   rates.
Remeasurement gains and losses are included in income.

         The  Company's  reporting  currency is the U.S.  dollar.  Balance sheet
accounts  are  translated  at  year-end  exchange  rates and revenue and expense
accounts are translated at the average exchange rates in effect during the year.
Translation   gains  and  losses  are  included  as  a  separate   component  of
stockholders' equity.

Pervasiveness of Estimates

         The  preparation of financial  statements in conformity  with generally
accepted  accounting  principles  required  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  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

Concentrations of Credit Risk

         The  Company has no  significant  off-balance-sheet  concentrations  of
credit  risk such as foreign  exchange  contracts,  options  contracts  or other
foreign hedging arrangements.

Income Taxes

         The Company  accounts for income taxes under the provisions of SFAS No.
109, "Accounting for Income Taxes." SFAS No.109 requires recognition of deferred
income  tax  assets  and   liabilities   for  the  expected  future  income  tax
consequences,  based on enacted tax laws, of temporary  differences  between the
financial reporting and tax bases of assets and liabilities.




                                      -9-
<PAGE>

                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE 1- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Reclassification

         Certain   reclassifications  have  been  made  in  the  2002  financial
statements to conform to the 2003 presentation.

Earnings (Loss) per Share

         The basic  earnings per share have been computed by dividing the income
for the period applicable to the common stock holders by the weighted average of
the common shares outstanding during the period. There were no common equivalent
shares outstanding at March 31, 2003 and 2002.

Stock Compensation for Non-Employees

The Company  accounts  for the fair value of its stock  compensation  grants for
non-employees  in  accordance  with FASB  Statement  123. The fair value of each
grant is equal to the market price of the  Company's  stock on the date of grant
if an  active  market  exists  or  at a  value  determined  in  an  arms  length
negotiation between the Company and the non-employee.























                                      -10-
<PAGE>
                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE 2- INVENTORY

         As of March 31, 2003 inventory consists of the following:

                Raw Materials              $       610,491
                Work in process                    152,251
                                           ---------------
                Total Inventory                    762,742
                                           ===============

NOTE 3- INCOME TAXES

         There was sufficient  net operating  income for the quarter ended March
31, 2003 that $53,965 was accrued for taxes payable.

NOTE 4- SHORT-TERM OBLIGATIONS

                                                             March 31,
                                                               2003
                                                            ---------
Promisorry note, repayable to related parties upon
demand, including interest at 12%                           $  93,719
                                                            =========

         The Company has a line of credit with a bank with a total  amount owing
of $0 as of March 31, 2003. This line has a total  available  credit of $172,500
($250,000 Canadian).  The line is secured by certain manufacturing  equipment of
the Company.



                                      -11-

<PAGE>
                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE5- LONG-TERM DEBT

                                                                  March 31,
                                                                    2003
                                                             ------------------
TDBank Small Business loan, repayable
  in monthly instalments $2,616 ($3,973 Canadian),
  including interest at 10.15%, maturing
  August 15, 2005, secured by certain
  manufacturing equipment of the Company                     $           70,397

Less current portion of long-term debt                                   24,620
                                                             ------------------

                                                             $           45,777
                                                             ==================

Principal  payments due on long-term debt for each of the five years  subsequent
to March 31, 2003 and thereafter are as follows:

       Year ending:                Amount
---------------------------  ------------------
           2003              $           19,368
           2004                          29,079
           2005                          21,950
                             ------------------
           Total             $           70,397
                             ==================








                                      -12-

<PAGE>

                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)

NOTE 6- ECONOMIC DEPENDENCE

         The Company sells a substantial portion of its product to one customer.
During the first quarter of 2003 and 2002, sales to that customer aggregated 59%
and 67%,  respectively.  As of March 31,  2003  amounts  due from that  customer
included in  accounts  receivable  were 48%.  Future  operations  of the Company
depend on continuation of the manufacturing arrangement with that customer.

NOTE 7- COMMITMENTS

         The Company has entered into lease agreements for its manufacturing and
office facilities and certain  manufacturing  equipment with the Company's major
shareholder  and other  parties.  The rental charges are  approximately  $79,350
($115,000  Canadian) per year for real property and $75,144 ($108,900  Canadian)
per year for equipment.  The real property  leases expire  December 31, 2003 and
the  second  lease that has a six month  notice of  termination,  the  equipment
leases expire in June 2005, February 2008, and December 2008.

The minimum  future  lease  payments  under these leases for the next five years
are:

<TABLE>
<CAPTION>
      Twelve Months                                           Real Property         Equipment
     Ended December 31:
-------------------------                                   -------------------------------------
<S>                                                         <C>                 <C>
         2003                                               $          42,732   $          75,144
         2004                                                               -              75,144
         2005                                                               -              60,125
         2006                                                               -              45,108
         2007                                                               -              45,108
                                                            -----------------   -----------------
         Total minimum future lease payments                $          42,732   $         300,629
                                                            =====================================
</TABLE>


         The  leases  generally  provide  that  insurance,  maintenance  and tax
expenses  are  obligations  of the  Company.  It is expected  that in the normal
course of business,  leases that expire will be renewed or replaced by leases on
other properties.







                                      -13-

<PAGE>
                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                    FOR THE THREE MONTHS ENDED MARCH 31, 2003
                                   (Continued)


NOTE 8- STOCK INCENTIVE PLAN

         The Board of Directors has authorized  and the Company has  established
the 2002 Non  qualified  Stock  Option  Plan.  Under  the  plan the  Company  is
authorized to issue up to 10,000,000  shares of the Company's  common stock with
such exercise price and vesting periods as the Board of Directors deems to be in
the best interest of the Company.  As of March 31, 2003 there are no outstanding
options to purchase shares of the Company's common stock.









































                                      -14-

<PAGE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

When used in this discussion,  the words "expect(s)",  "feel(s)",  "believe(s)",
"will", "may",  "anticipate(s)" and similar expressions are intended to identify
forward-looking  statements.  Such  statements  are subject to certain risks and
uncertainties,  and actual results could differ materially from those projected.
Readers  are  cautioned  not to place undue  reliance  on these  forward-looking
statements,  and  are  urged  to  carefully  review  and  consider  the  various
disclosures elsewhere in this Form 10-QSB.

Plan of Operations

The  Company  is  currently  working  on  securing   additional   private  label
manufacturing  contracts.  The key target for private  label sales are wholesale
distributors  of  health  food  nutrition  products.  Laredo  is  also  pursuing
opportunities for direct sales to consumers through the Internet.

Liquidity and Capital Resources

Laredo's  working  capital  ratio was 1.47 at March 31, 2003 compared to 1.39 at
December 31, 2002. Key contributing factors for this change were the increase in
inventory value of $198,366 and an increase in prepaid expense of $37,621.

Current  liabilities  include  an  $93,719  promissory  note  payable to a party
related to the major  shareholder,  which bears interest at 12% annually.  These
funds are repayable on demand,  however the request for  repayment  occurring at
this time is not expected.

Laredo has a small  business  loan  outstanding  with a balance of $70,397 as at
March 31,  2003.  This loan bears  interest  at 10.15% and matures on August 15,
2005.

Laredo acquired an additional  $68,092 of  manufacturing  equipment in the first
quarter  of 2003 in  order to meet  demands  for new  private  label  sales.  An
additional  $50,000 of  manufacturing  equipment  is expected to be purchased in
2003.  Plant  renovations  costing  $20,000 are also expected to be completed in
2003.

Results of Operations

                                                For the three months ended
                                                        March 31,
                                         --------------------------------------
                                               2003                2002
                                         ------------------  ------------------
Sales                                    $        1,126,076  $        1,158,974
Cost of Sales                                       719,795             789,278
Gross Profit                                        406,281             369,696
Gross Profit Margin                                   36.08%              31.90%
Administrative Expenses                             298,315             152,711
Administrative Expenses as a % of sales               26.49%              13.18%

For the three months ended March 31,  2003,  sales were $32,898  lower than 2002
and are expected to grow during 2003. During the first quarter of 2003 and 2002,
59% and 67% of sales,  respectively  were to Prairie  Naturals Inc., a wholesale

                                      -15-
<PAGE>

distributor for which Laredo manufactures  private label products.  Laredo has a
verbal  arrangement  to  manufacture,  on an  as-ordered  basis,  private  label
products that Prairie Naturals Inc.  distributes under the Prairie Naturals Inc.
name.  Laredo also has an exclusive  written contract to manufacture one product
that Prairie Naturals Inc. distributes for a third party private label.

Operating margins for the three months ended March 31, 2003 were 36.08% of sales
revenue,  4.18%  higher  than  2002.  Cost of  Sales  includes  the  cost of raw
materials used in manufacturing,  production labor costs and an applicable share
of overhead expenses.

General and  administrative  expenses  for the three months ended March 31, 2003
were 26.49% of sales,  13.31%  higher than 2002.  Laredo  anticipates  realizing
economies of scale as production volumes increase.

Effect of Inflation

Laredo  does  not  anticipate  any  financial  impact,   whether  beneficial  or
detrimental, as a result of inflation.

Critical Accounting Policies

Our critical  accounting policies are those which we believe require significant
judgements,  often as a result of the need to make estimates about the effect of
matters that are inherently  uncertain.  A discussion of our critical accounting
policies is set forth in the Notes to our Financial  Statements included as part
of this Report.

Recently Enacted and Proposed Regulatory Changes

From time to time, the Financial  Accounting  Standards  Board  ("FASB")  issues
pronouncements  regarding financial  accounting  standards,  including standards
regarding accounting and reporting standards for business combinations and other
matters. For more information regarding the significant  accounting policies and
standards  applicable  to  our  operations,  see  the  Notes  to  the  Financial
Statements.

ITEM 3. CONTROLS AND PROCEDURES

         The Company's Chief Executive  Officer and Chief Financial Officer have
concluded,  based on an evaluation  conducted within 90 days prior to the filing
date of this  Quarterly  Report  on Form  10-Q,  that the  Company's  disclosure
controls and  procedures  have  functioned  effectively  so as to provide  those
officers the information necessary whether:

                  (i) this  Quarterly  Report on Form 10-Q  contains  any untrue
                  statement of a material fact or omits to state a material fact
                  necessary  to  make  the  statements  made,  in  light  of the
                  circumstances  under  which such  statements  were  made,  not
                  misleading   with  respect  to  the  period  covered  by  this
                  Quarterly Report on Form 10-Q, and

                  (ii) the financial statements, and other financial information
                  included in this Quarterly Report on Form 10-Q, fairly present
                  in all material respects the financial  condition,  results of
                  operations  and cash flows of the Company as of, and for,  the
                  periods presented in this Quarterly Report on Form lO-Q.


                                      -16-
<PAGE>

         There  have  been no  significant  changes  in the  Company's  internal
controls or in other factors since the date of the Chief Executive Officer's and
Chief  Financial  Officer's  evaluation  that could  significantly  affect these
internal controls,  including any corrective actions with regards to significant
deficiencies and material weaknesses.

PART II- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

         None.

ITEM 2. CHANGES IN SECURITIES

         None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

         None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

         None.

ITEM 5. OTHER INFORMATION

         None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

         The Company did not file a report on Form 8-K during the past quarter.



























                                      -17-

<PAGE>

                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                             Laredo Investment Corp

                                  (Registrant)

DATE: May 15, 2003                         By: /s/ Richard Pierce

                                               Richard Pierce
                                               President, C.E.O., Director


DATE: May 15, 2003                         By: /s/ Marc Casavant
                                               Marc Casavant
                                               C.F.O., Director



























                                      -18-


<PAGE>

I, Richard Pierce, certify that:

         1.       I have  reviewed  this  quarterly  report  on form 1 0-QSB  of
                  Laredo Investment Corp.

         2.       Based on my knowledge,  this quarterly report does not contain
                  any untrue  statement  of a  material  fact or omit to state a
                  material fact necessary to make the statements  made, in light
                  of the  circumstances  under which such  statements were made,
                  not  misleading  with  respect to the  period  covered by this
                  quarterly report.

         3.       Based on my  knowledge,  the financial  statements,  and other
                  financial  information  included  in  this  quarterly  report,
                  fairly   present  in  all  material   respects  the  financial
                  condition,  results  of  operations  and  cash  flows  of  the
                  registrant  as of,  and for,  the  periods  presented  in this
                  quarterly report.

         4.       The  registrant's   other   certifying   officers  and  I  are
                  responsible  for  establishing   and  maintaining   disclosure
                  controls  and  procedures  (as defined in exchange act rules 1
                  3a- 14 and 1 Sd- 14) for the registrant and have:

         A)       designed  such  disclosure  controls and  procedures to ensure
                  that  material   information   relating  to  the   registrant,
                  including its consolidated  subsidiaries,  is made known to us
                  by others  within  those  entities,  particularly  during  the
                  period in which this quarterly report is being prepared;

         B)       evaluated the  effectiveness  of the  registrant's  disclosure
                  controls and  procedures  as of a date within 90 days prior to
                  the filing  date of this  quarterly  report  (the  "evaluation
                  date"); and

         C)       presented in this quarterly  report our conclusions  about the
                  effectiveness of the disclosure  controls and procedures based
                  on our evaluation as of the evaluation date;

         5.       The  registrant's   other  certifying   officers  and  I  have
                  disclosed,  based  on  our  most  recent  evaluation,  to  the
                  registrant's  auditors and the audit committee of registrant's
                  board of  directors  (or  persons  performing  the  equivalent
                  functions):

         A)       all  significant  deficiencies  in the design or  operation of
                  internal   controls   which   could   adversely   affect   the
                  registrant's ability to record, process,  summarize and report
                  financial  data  and  have  identified  for  the  registrant's
                  auditors any material weaknesses in internal controls; and

         B)       any fraud,  whether or not material,  that involves management
                  or  other  employees  who  have  a  significant  role  in  the
                  registrant's internal controls.

         6.       The  registrant's   other  certifying   officers  and  I  have
                  indicated in this  quarterly  report whether or not there were
                  significant  changes in internal  controls or in other factors
                  that could  significantly  affect internal controls subsequent
                  to the  date of our  most  recent  evaluation,  including  any
                  corrective actions with regard to significant deficiencies and
                  material weaknesses.

Date: May 15, 2003

/s/ Richard Pierce
---------------------------
President, C.E.O., Director



                                      -19-
<PAGE>

I, Marc Casavant, certify that:

         1.       I have  reviewed  this  quarterly  report  on form 1 0-QSB  of
                  Laredo Investment Corp.

         2.       Based on my knowledge,  this quarterly report does not contain
                  any untrue  statement  of a  material  fact or omit to state a
                  material fact necessary to make the statements  made, in light
                  of the  circumstances  under which such  statements were made,
                  not  misleading  with  respect to the  period  covered by this
                  quarterly report.

         3.       Based on my  knowledge,  the financial  statements,  and other
                  financial  information  included  in  this  quarterly  report,
                  fairly   present  in  all  material   respects  the  financial
                  condition,  results  of  operations  and  cash  flows  of  the
                  registrant  as of,  and for,  the  periods  presented  in this
                  quarterly report.

         4.       The  registrant's   other   certifying   officers  and  I  are
                  responsible  for  establishing   and  maintaining   disclosure
                  controls and  procedures  (as defined in exchange act rules 13
                  a- 14 and I 5d- 14) for the registrant and have:

         A)       designed  such  disclosure  controls and  procedures to ensure
                  that  material   information   relating  to  the   registrant,
                  including its consolidated  subsidiaries,  is made known to us
                  by others  within  those  entities,  particularly  during  the
                  period in which this quarterly report is being prepared;

         B)       evaluated the  effectiveness  of the  registrant's  disclosure
                  controls and  procedures  as of a date within 90 days prior to
                  the filing  date of this  quarterly  report  (the  "evaluation
                  date"); and

         C)       resented in this quarterly  report our  conclusions  about the
                  effectiveness of the disclosure  controls and procedures based
                  on our evaluation as of the evaluation date;

         5.       The  registrant's   other  certifying   officers  and  I  have
                  disclosed,  based  on  our  most  recent  evaluation,  to  the
                  registrant's  auditors and the audit committee of registrant's
                  board of  directors  (or  persons  performing  the  equivalent
                  functions):

         A)       all  significant  deficiencies  in the design or  operation of
                  internal   controls   which   could   adversely   affect   the
                  registrant's ability to record, process,  summarize and report
                  financial  data  and  have  identified  for  the  registrant's
                  auditors any material weaknesses in internal controls; and

         B)       any fraud,  whether or not material,  that involves management
                  or  other  employees  who  have  a  significant  role  in  the
                  registrant's internal controls.

         6.       The  registrant's   other  certifying   officers  and  I  have
                  indicated in this  quarterly  report whether or not there were
                  significant  changes in internal  controls or in other factors
                  that could  significantly  affect internal controls subsequent
                  to the  date of our  most  recent  evaluation,  including  any
                  corrective actions with regard to significant deficiencies and
                  material weaknesses.

Date: May 15, 2003

\s\ Marc Casavant
-----------------
C.F.O., Director

                                      -20-
<PAGE>

                                  EXHIBIT 99.1
                                CEO CERTIFICATION




                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



In  connection  with the  Quarterly  Report of Laredo  Investment  Corp. on Form
10-QSB for the period  ending March 31, 2003, as filed with the  Securities  and
Exchange Commission on the date hereof (the "Report"), I certify, pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002, that, to the best of my knowledge and belief:

         (1)      the Report fully  complies  with the  requirements  of Section
                  13(a) or 15(d) of the Securities Exchange Act of 1934; and

         (2)      the information  contained in the Report fairly  presents,  in
                  all material respects,  the financial  condition and result of
                  operations of the Company.



Date: May 15, 2003

/s/ RICHARD PIERCE
-----------------------------------
Richard Pierce, President and C.E.O.

                                      -21-
<PAGE>


                                  EXHIBIT 99.2
                                CFO CERTIFICATION



                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



In  connection  with the  Quarterly  Report of Laredo  Investment  Corp. on Form
10-QSB for the period  ending March 31, 2003, as filed with the  Securities  and
Exchange Commission on the date hereof (the "Report"), I certify, pursuant to 18
U.S.C.  Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley
Act of 2002, that, to the best of my knowledge and belief:

         (1)      the Report fully  complies  with the  requirements  of Section
                  13(a) or 15(d) of the Securities Exchange Act of 1934; and

         (2)      the information  contained in the Report fairly  presents,  in
                  all material respects,  the financial  condition and result of
                  operations of the Company.

May 15, 2003

/s/ MARC CASAVANT
--------------------------------------
Marc Casavant, Chief Financial Officer


                                      -22-