===============================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                       -----------------------------------

                                   FORM 10-QSB
                       -----------------------------------

             Quarterly Report Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


For the quarterly period ended                           Commission file number:
     September 30, 2000                                           0-27957

                             LAREDO INVESTMENT CORP.
        (Exact Name of Small Business Issuer as Specified in its Charter)

            Nevada                                               77-0517964
(State or Other Jurisdiction of                               (I.R.S. Employer
 Incorporation or Organization)                              Identification No.)


                      Suite 1450, 1075 West Georgia Street
                          Vancouver, BC, Canada V6B 3C9
                    (Address of Principal Executive Offices)


                                 (604) 460-8440
                (Issuer's Telephone Number, Including Area Code)

                            -------------------------

     Check  whether  the issuer (1) filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Exchange  Act during the past 12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has  been   subject  to  such  filing   requirements   for  the  past  90  days.


                               Yes __X___ No _____


         Transitional Small Business Disclosure Format  (Check one):

                               Yes _____ No __X___

As of November 14, 2000, there were 29,200,000 shares of common stock, par value
$0.001 per share of the registrant issued and outstanding.


<PAGE>


                             LAREDO INVESTMNT CORP.

                         Quarterly Report on Form 10-QSB

                                TABLE OF CONTENTS


                                                                            Page
                                                                            ----

PART I       FINANCIAL STATEMENTS............................................2

Item 1.      Financial Statements............................................2

             Notes to Consolidated Statements................................6

Item 2.      Management's Discussion and Analysis...........................13

Part II.     OTHER INFO.....................................................13

Item 6.      EXHIBITS.......................................................16

SIGNATURES   ...............................................................17

<PAGE>
<TABLE>
<CAPTION>

                                             LAREDO INVESTMENT CORP.
                                                  BALANCE SHEETS
                                                   (unaudited)


                                                                               September 30,        December 31,
                                                                                    2000                1999
                                                                             ------------------- ---------------
<S>                                                                          <C>                 <C>

ASSETS
Current Assets:
Cash and cash equivalents                                                        $21,784            $      -
Receivables                                                                      360,564             192,339
Inventory                                                                        306,816             140,020
Prepaid expense                                                                   11,702                 857
                                                                             ------------------- ---------------


     Total Current Assets                                                        700,866             333,216
                                                                             ------------------- ---------------


Property and equipment:
Manufacturing Equipment                                                          438,474             206,998
Office Equipment                                                                  14,934              10,934
Furniture & Fixtures                                                               2,387               1,245
Vehicles                                                                          15,133               5,026
Leasehold improvements                                                             4,972               3,521
                                                                             ------------------- ---------------

                                                                                 475,900             227,724
Less accumulated depreciation                                                   (58,662)            (28,924)
                                                                             ------------------- ---------------

                                                                                 417,238             198,800
                                                                             ------------------- ---------------


Other Assets:
Intangible Assets                                                                  9,167                   -
                                                                             ------------------- ---------------



     Total Assets                                                             $1,127,271            $532,016
                                                                             =================== ===============


</TABLE>
<PAGE>
<TABLE>
<CAPTION>




                                              LAREDO INVESTMENT CORP.
                                 BALANCE SHEETS
                                   (Continued)


                                                                               September 30,        December 31,
                                                                                    2000                1999
                                                                               -------------        ------------
<S>                                                                            <C>                   <C>

LIABILITIES
Current Liabilities:
Accounts payable and accrued liabilities                                          $382,700            $267,393
Short-term loans & notes payable                                                   540,395              33,346
Related party loans                                                                 66,908              63,481
Current portion long-term debt                                                      20,336              20,479
                                                                               -------------        ------------

     Total Current Liabilities                                                   1,010,339             384,699
                                                                               -------------        ------------

Long-term debt                                                                     100,664             120,600
                                                                               -------------        ------------

     Total Liabilities                                                           1,111,003             505,299
                                                                               -------------        ------------

STOCKHOLDERS EQUITY Common Stock - $0.001 par value.
   100,000,000 shares authorized.
   15,000,000 issued and outstanding.                                               15,000              15,000
Common Stock to be issued 24,000,000 shares                                         24,000              14,000
Additional paid-in capital                                                               -                   -
Currency translation adjustment                                                      7,529               1,349
Retained deficit                                                                  (30,261)             (3,632)
                                                                               -------------        ------------

     Total Stockholders' Equity                                                     16,268              26,717
                                                                               -------------        ------------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                      $1,127,271            $532,016
                                                                               =============        ============











                                             See accompanying notes.

</TABLE>
<PAGE>

<TABLE>
<CAPTION>


                                               LAREDO INVESTMENT CORP.
                                               STATEMENTS OF OPERATIONS




                                           For the three months ended              For the nine months ended
                                                  September 30,                          September 30,
                                      -------------------------------------- ---------------------------------------
                                            2000                1999                2000                1999
                                      ------------------  ------------------ ------------------- -------------------
<S>                                   <C>                 <C>                <C>                 <C>


Revenues                                       $452,100            $326,301          $1,463,646          $1,144,330
Cost of Revenues                                314,627             179,639           1,036,818             742,432
                                      ------------------  ------------------ ------------------- -------------------
Gross Margin                                    137,473             146,662             426,828             401,898

Expenses
   Selling & Marketing                           10,478               6,901              28,917              14,040
   General & Administrative                     161,513             144,745             408,121             302,612
                                      ------------------  ------------------ ------------------- -------------------
                                                171,991             151,646             437,038             316,652
                                      ------------------  ------------------ ------------------- -------------------

Net Income (Loss) from Operations              (34,518)             (4,984)            (10,210)              85,246
                                      ------------------  ------------------ ------------------- -------------------

Other Income (Expense)
   Interest, Net                               (20,799)             (4,250)            (46,726)             (8,903)
   Currency Exchange, Net                        55,972                   -              30,307                   -
                                      ------------------  ------------------ ------------------- -------------------

Net Income (Loss) Before Income Taxes               655             (9,234)            (26,629)              76,343
Income Tax Expense                                    -             (7,316)                   -                 313
                                      ------------------  ------------------ ------------------- -------------------

Net Income (Loss)                                  $655            $(1,918)           $(26,629)             $76,030
                                      ==================  ================== =================== ===================

Basic and Diluted Loss Per Common
Share                                          $      -            $      -            $      -            $      -
                                      ==================  ================== =================== ===================

Weighted Average Number of Common
Shares                                       39,000,000          25,000,000          39,000,000          25,000,000
                                      ==================  ================== =================== ===================








                                               See accompanying notes.

</TABLE>
<PAGE>

<TABLE>
<CAPTION>


                                               LAREDO INVESTMENT CORP.
                                               STATEMENTS OF CASH FLOWS


                                                                                   For the nine months ended
                                                                                         September 30,
                                                                             ---------------------------------------
                                                                                    2000                1999
                                                                             ------------------- -------------------
<S>                                                                          <C>                 <C>

Cash Flows From Operating Activities
   Net Income (loss) for the period                                                   $(26,629)             $76,030
Adjustments to reconcile net loss to net cash
   Provided by operating activities
     Currency translation adjustment                                                      6,180               7,100
     Depreciation and Amortization                                                       29,738              12,801
     Decrease (Increase) in Receivables                                               (168,225)            (85,783)
     Decrease (Increase) in inventory                                                 (166,796)              19,264
     Decrease (Increase) in prepaid expense                                            (10,845)             (4,014)
     Increase (Decrease) in accounts payable & accrued liabilities                      140,851              33,807
                                                                             ------------------- -------------------
Net Cash Provided by (Used in) Operating Activities                                   (195,726)              59,205
                                                                             ------------------- -------------------

Cash Flows From Investing Activities
   Purchase of property and equipment                                                 (248,176)             (6,016)
                                                                             ------------------- -------------------
Net Cash Provided by Investing Activities                                             (248,176)             (6,016)
                                                                             ------------------- -------------------

Cash Flows From Financing Activities
   Payments on short-term notes payable                                                (26,497)            (13,520)
   Proceeds from short-term notes payable                                               513,711                   -
   Principle payment on long-term debt                                                 (21,528)             (6,844)
                                                                             ------------------- -------------------

Net Cash Provided by Financing Activities                                               465,686            (20,364)
                                                                             ------------------- -------------------

Increase (Decrease) in Cash                                                              21,784              32,825
Cash at beginning of period                                                                   -                   -
                                                                             ------------------- -------------------

Cash at End of Period                                                                   $21,784             $32,825
                                                                             =================== ===================

Supplemental Disclosure of Interest and Income Taxes Paid
   Interest paid during the period                                                      $16,015              $8,903
                                                                             =================== ===================
   Income taxes paid during the period                                                 $      -            $      -
                                                                             =================== ===================

Supplemental Disclosure of Non-cash Investing
 and Financing Activities:     None


                                               See accompanying notes.
</TABLE>
<PAGE>



                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000


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

     This  summary of  accounting  policies  for Laredo  Investment  Corp. ( 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.

     The  unaudited  financial  statements  as of September 30, 2000 and for the
three months then ended 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 and nine  months.
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 Company 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 the Company's  restricted  common stock.  The
transaction has been recorded as a reverse merger.

Nature of Business
------------------

     The Company specializes in formulating, blending, encapsulating and packing
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.

<PAGE>


                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Continued)


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

Inventories
-----------

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

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 years
   Furniture and fixtures                                  5 years
   Office equipment                                        5 years
   Leasehold improvements                            Term of lease
   Automobile                                              3 years


     Maintenance  and  repairs  are  charged  to  operations;   betterments  are
capitalized.  The  cost  of  property  sold  or  otherwise  disposed  of and the
accumulated  depreciation  thereon are 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  (undiscounted  and  without
interest  charges) is less than the carrying  amount of the asset, an impairment
loss is recognized.


<PAGE>


                                              LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                                   FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Continued)

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

Revenue recognition
-------------------

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

Foreign currency translation
----------------------------

     The Company's primary functional currency is the Canadian dollar.  Monetary
assets and liabilities  resulting from  transactions  with foreign suppliers and
customers  are  translated at year-end  exchange  rates while income and expense
accounts are  translated at average  rates in effect during the year.  Gains and
losses on translation are included in income.

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.

Reclassifications
-----------------

     Certain  reclassifications  have been made in the 1999 financial statements
to conform with the 2000 presentation.



<PAGE>


                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Continued)

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

Earnings (Loss) per Share
-------------------------

     The  reconciliations  of the  numerators  and  denominators  of  the  basic
earnings (loss) per share computations are as follows:

<TABLE>
<CAPTION>


                                                                                                     Per-Share
                                                              Income              Shares               Amount
                                                              ------              ------               ------
                                                           (Numerator)         (Denominator)

<S>                                                        <C>                 <C>                   <C>

                                                               For the three months ended September 30, 2000
                                                               ---------------------------------------------
Basic & Diluted Earnings per Share
Income to common shareholders                                         $655           39,000,000            $      -
                                                           ================    =================     ===============

                                                               For the nine months ended September 30, 2000
                                                               --------------------------------------------
Basic & Diluted Loss per Share
Loss to common shareholders                                      $(26,629)           39,000,000            $      -
                                                           ================    =================     ===============

                                                               For the three months ended September 30, 1999
                                                               ---------------------------------------------
Basic & Diluted Loss per Share
Loss to common shareholders                                       $(1,918)           25,000,000            $      -
                                                           ================    =================     ==============

                                                               For the nine months ended September 30, 1999
                                                               --------------------------------------------
Basic & Diluted Earnings per Share
Income to common shareholders                                      $76,030           25,000,000            $      -
                                                           ================    =================     ===============

     The effect of outstanding  common stock  equivalents are anti-dilutive for September 30, 2000 and 1999 and
are thus not considered.

NOTE 2 - INVENTORY
------------------

     As of September 30, 2000 and December 31, 1999, Inventory consists of the following:

</TABLE>

<TABLE>
<CAPTION>

                                                              2000                1999
                                                       ------------------- -------------------
<S>                                                    <C>                 <C>

              Raw materials                                      $176,404            $106,760
              Work in process                                     130,412              33,260
                                                       ------------------- -------------------
              Total                                              $306,816            $140,020
              Inventory
                                                       =================== ===================

</TABLE>
<PAGE>


                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Continued)


NOTE 3 - RELATED PARTY TRANSACTIONS
-----------------------------------

     As of September 30, 2000,  accrued  management fees of GFR of approximately
$50,000 ($75,000 Canadian) are due to a major  shareholder.  As at September 30,
2000, accounts payable includes  approximately  $23,000 ($34,000 Canadian) owing
to the Company's major shareholders.


NOTE 4 - SHORT-TERM OBLIGATIONS
-------------------------------

<TABLE>
<CAPTION>

                                                                               September 30,        December 31,
                                                                                    2000                1999
                                                                             ------------------- -------------------
<S>                                                                          <C>                 <C>

Promissory note, repayable to related parties upon
   demand, including interest at 12%                                                    $66,908             $63,481
Working Capital Loans, repayable in stock or options upon
    demand including interest at 1% over prime (9.5%)                                   540,395                   -
                                                                             ------------------- -------------------

Total                                                                                  $607,303             $63,481
                                                                             =================== ===================

NOTE 5 - LONG-TERM DEBT
-----------------------

                                                                               September 30,        December 31,
                                                                                    2000                1999
                                                                             ------------------- -------------------

TDBank Small Business  loan,  repayable in monthly  installments  $2,636 ($3,973
  Canadian),  including interest at 10.15%,  maturing March 15, 2004, secured by
  certain
  manufacturing  equipment of the Company                                              $121,000            $141,079

Less current portion of long-term debt                                                   20,336              20,479
                                                                             ------------------- -------------------

                                                                                       $100,664            $120,600
                                                                             =================== ===================


</TABLE>
<PAGE>


                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Continued)

NOTE 5 - LONG-TERM DEBT (Continued)
-----------------------------------

     Principal  payments  due on  long-term  debt  for  each of the  five  years
subsequent to September 30, 2000 and thereafter are as follows:

                      Year ending:              Amount
                   -----------------        --------------

                        2000                     $4,893
                        2001                     20,856
                        2002                     23,074
                        2003                     25,528
                        2004                     28,244
                     Thereafter                  18,405
                                            --------------
                       Total                   $121,000
                                            ==============

NOTE 6 - ECONOMIC DEPENDENCE
----------------------------

     During  2000,  the  Company  sold  approximately  94% of sales  to  Prairie
Naturals Inc.  Future  operations of the Company depend on  continuation  of the
manufacturing arrangement with Prairie Naturals Inc.

NOTE 7 - COMMITMENTS
--------------------

     The Company has entered into a lease  agreement for its  manufacturing  and
office  facilities with the Company's major  shareholder and other parties.  The
rental charges are approximately  $40,000 ($60,000 Canadian) per year. The lease
expires December 31, 2001.

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

    Year Ended December 31,                                   Real Property
    -------------------------                                 -------------
             2000                                                 $40,000
             2001                                                  40,000
             2002                                                       -
             2003                                                       -
             2004                                                       -
             Thereafter                                                 -
                                                              -------------

             Total minimum future lease payments                   $80,000
                                                              =============

<PAGE>


                             LAREDO INVESTMENT CORP.
                          NOTES TO FINANCIAL STATEMENTS
                  FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Continued)


NOTE 7 - COMMITMENTS (Continued)
--------------------------------

     The leases generally provides 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.

NOTE 8 - STOCK SPLIT
--------------------

     On May 6, 1999 the Board of Directors  authorized a 1,000 to 1 stock split,
changed the authorized number of shares to 100,000,000  shares and the par value
to $.001 for the  Company's  common  stock.  As a result of the  split,  999,000
shares were issued. All references in the accompanying  financial  statements to
the number of common shares and per-share amounts for 1999 have been restated to
reflect the stock split.

     On November 15, 1999 the majority  shareholder  returned  400,000 shares to
the Company. On the same day the Company's Board of Directors authorized a 25 to
1 stock split of the remaining  600,000 shares of the Company's  $.001 par value
common  stock.  As a result of the split,  14,400,000  shares were  issued,  and
Paid-In  Capital was  reduced by $14,400.  All  references  in the  accompanying
financial  statements to the number of common  shares and per-share  amounts for
1999 have been restated to reflect the stock split.


<PAGE>


                                     PART II

                                OTHER INFORMATION

Safe Harbor Statement

     Except for the  historical  information  contained in this report,  certain
statements,   including   information  set  forth  under  Item  2  "Management's
Discussion  and  Analysis"   constitute  or  may   constitute   "forward-looking
statements" within the meaning of the Private  Securities  Litigation Reform Act
of 1995 (the "Act").  Laredo  Investment Corp. (the "Company")  desires to avail
itself of certain "safe harbor" provisions of the Act and is therefore including
this  special  note to enable the Company to do so.  Forward-looking  statements
included in this Form 10-QSB or hereafter  included in other publicly  available
documents  filed with the  Securities  and Exchange  Commission,  reports to the
Company's  stockholders  and  other  publicly  available  statements  issued  or
released by the Company  involve  known and unknown  risks,  uncertainties,  and
other  factors  which  could cause the  Company's  actual  results,  performance
(financial  or  operating) or  achievements  to differ from the future  results,
performance  (financial or operating)  achievements expressed or implied by such
forward-looking statement.

Item 2.  Management's Discussion and Analysis.

General

     The Company was incorporated in Nevada on December 18, 1996. From that time
up until  January 21,  2000,  the Company has  generally  remained  dormant.  On
January 21,  2000,  the  Company  acquired  GFR  Nutritionals,  Ltd.,  a British
Columbia  corporation  ("GFR"),  from its sole shareholders,  Richard Pierce and
Lucretia Schanfarber,  for consideration  consisting of 19,000,000 shares of the
Company.  Since the  acquisition,  the Company has adopted the  business of GFR,
which consists of manufacturing  nutritional supplement products such as Devil's
Claw Root  Extract,  St.  John's Wort  Extract,  Kava Kava,  Ginkgo  Biloba Leaf
Extract,  Coenzyme  Q10,  Ginseng,  Echinacea,  Grapeseed  Extract,  Vitamin  C,
L-Glutamine and Garlic for sale to wholesale distributors. The Company's primary
goal during the next fiscal  year is to expand its  marketing  efforts to secure
additional  private label  contracts with wholesale  distributors of nutritional
products as well as to expand retail  distribution  both through direct sales to
established  market  channels such as health food retail stores,  department and
grocery stores,  health practitioners as well as to market its products directly
to consumers via the Internet.

Results of Operations

     Currently,  most of the  Company's  revenues  are  derived  from its verbal
arrangement  with  Prairie   Naturals  Inc.   ("PNI")  to  manufacture,   on  an
as-ordered-basis,  private label products that Prairie Naturals Inc. distributes
under  its  name.  The  Company  also  has  an  exclusive  written  contract  to
manufacture one product that PNI distributes for a third party private label.

     As the Company  expands its  marketing  efforts to wholesale  distributors,
other than PNI, and directly to consumers, it anticipates realizing economies of
scale from the resulting production volume increases.  However, selling, general
and administrative expenses which include advertising expenses are also expected
to increase.

<PAGE>

     Operating  margins  in the third  quarter  2000  were 30% of sales  revenue
compared to 45% for third quarter 1999.  Cost of Sales  included the cost of raw
materials used in manufacturing, labor costs and an applicable share of overhead
expenses. General and administrative expenses were approximately 36% of sales in
third quarter 2000 as compared to 44% for third  quarter 1999.  The net increase
in general and administrative  expenses was due to, increased professional fees,
including  legal and  accounting  fees as well as the addition of more employees
including  a  production  coordinator  and other  personnel  in order to further
expand the Company's production capacity.

Liquidity and Capital Resources

     The  Company  requires  working  capital  principally  to fund its  current
operations for which it has relied on short-term and long-term borrowings.

     The Company  used cash in  operating  activities  for the nine months ended
September 30, 2000 totaling $195,726 and operating  activities provided cash for
the nine-month  period ended September 30, 1999 totaling  $59,205.  In addition,
the Company  invested  cash in property and  equipment for the nine months ended
September 30, 2000 and 1999 totaling $248,176 and $6,016, respectively.

     The  Company's  working  capital  ratio was 0:87:1 at December 31, 1999 and
decreased to 0:69:1 as at September 30, 2000. This decrease was due, in part, to
expenditures for the purchase of new equipment.  Total inventory balances, which
includes  both work in process and raw  materials  at September  30, 2000,  were
$306,816.  Generally,  the  Company has been  shipping  goods  immediately  upon
completion.  As business volume increases,  the Company will be required to keep
finished goods inventory on hand.

     Current  liabilities  include a $66,908  promissory note payable to related
parties which bears interest at 12% annually. Although these funds are repayable
on demand,  the Company does not anticipate that a request for repayment will be
made at this time.  Also included in current  liabilities  is a promissory  note
aggregating $540,395 payable to third parties, which bears interest at a rate of
1% plus prime which rate is currently 9.5%.  These funds are repayable on demand
however,  the Company has the option to repay these funds by issuing  options to
purchase shares of the Company's common stock or by issuing restricted shares of
the  Company's  stock to the third party  lenders.  The Company also has a small
business  loan  outstanding  issued by TD Bank with a balance  of  approximately
$121,000 as at September 30, 2000.  This loan bears interest at a rate of 10.15%
over a 5 year term.  Only the principal  portion of this loan which is repayable
in the next fiscal year has been included in the working  capital  calculations.
Additionally,   the  Company  has  accounts  payable  and  accrued   liabilities
aggregating $382,700, which include management fees payable to GFR in the amount
of $50,000 and account  payables in the amount of $23,000 payable to a number of
major shareholder of the Company.

     The Company acquired an additional $248,176 of manufacturing  equipment for
the nine month period ended September 30. Plant renovations  costing $12,000 are
also  expected  to be  completed  in fiscal  2000.  These  expenditures  will be
financed from existing  assets.  Increased  sales volumes will also  necessitate
hiring additional operations, sales and administrative personnel.

     Investing activities have used cash of approximately $248,176 for the three
months  ended  September  30, 2000.  Investing  activities  primarily  represent
purchases of manufacturing equipment and office equipment.

     The Company  expects  future  development  and  expansion  will be financed
through cash flow from  operations and other forms of financing such as the sale
of  additional  equity and debt  securities,  capital  leases  and other  credit
facilities.  There are no assurances  that such  financing  will be available on
terms acceptable or favorable to the Company.


<PAGE>


Item 6.  Exhibits and Reports on Form 8-K.

         (a)      Exhibit 27.1                       Financial Data Schedule

         (b) During the period  commencing last quarter of the period covered by
this  report  to date,  the  following  reports  on Form  8-K were  filed by the
Registrant:


DATE OF REPORT   ITEM REPORTED                    DESCRIPTION OF ITEM
--------------   -------------                    -------------------


August 22, 2000  Item 1.  Acquisition of Assets   The  Company  entered  into an
                                                  Acquisition Agreement with WST
                                                  Web Search  Technologies Inc.,
                                                  a British Columbia corporation
                                                  ("WST"), pursuant to which the
                                                  Company  agreed,   to  acquire
                                                  100% of the outstanding common
                                                  stock of WST in  exchange  for
                                                  10,000,000   shares   of   the
                                                  Company's     common    stock,
                                                  3,000,000 of which was payable
                                                  by the Company  and  7,000,000
                                                  of  which   was   payable   by
                                                  Richard Pierce,  the President
                                                  and    CEO    and   a    major
                                                  shareholder  of the Company to
                                                  the sole shareholder of WST.





<PAGE>


                                   SIGNATURES

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

                                              LAREDO INVESTMENT CORP.

Dated:     November 14, 2000                  By:  /s/ Richard Pierce
                                                   ----------------------------
                                                   Richard Pierce
                                                   President


                                              By   /s/ Mark Casavant
                                                   ----------------------------
                                                   Mark Casavant
                                                   Chief Financial Officer