Silver Bull Resources Files Q1 2024 10-Q
Ticker: SVBL · Form: 10-Q · Filed: Jun 13, 2024 · CIK: 1031093
| Field | Detail |
|---|---|
| Company | Silver Bull Resources, Inc. (SVBL) |
| Form Type | 10-Q |
| Filed Date | Jun 13, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, mining
TL;DR
Silver Bull Resources filed its 10-Q for April 30, 2024. No major financial details yet.
AI Summary
Silver Bull Resources, Inc. filed its quarterly report on Form 10-Q for the period ended April 30, 2024. The company, incorporated in Nevada, is involved in the metal mining industry. Its principal executive offices are located in Vancouver, Canada. The filing does not disclose specific financial figures or significant events for the quarter.
Why It Matters
This filing provides an update on Silver Bull Resources' financial status and operations for the first quarter of 2024, which is crucial for investors to assess the company's performance and outlook.
Risk Assessment
Risk Level: low — The filing is a standard quarterly report and does not contain information indicating immediate or significant risks.
Key Players & Entities
- SILVER BULL RESOURCES, INC. (company) — Registrant
- April 30, 2024 (date) — Quarterly period end date
- Nevada (jurisdiction) — State of incorporation
- Vancouver, Canada (location) — Principal executive offices location
- 001-33125 (identifier) — Commission File Number
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarterly period ended April 30, 2024.
What is the company's state of incorporation?
The company, Silver Bull Resources, Inc., is incorporated in Nevada.
Where are Silver Bull Resources' principal executive offices located?
Silver Bull Resources' principal executive offices are located at 777 Dunsmuir Street, Suite 1605, Vancouver, B.C., Canada.
What is the Commission File Number for Silver Bull Resources?
The Commission File Number for Silver Bull Resources, Inc. is 001-33125.
Does Silver Bull Resources have any securities registered pursuant to Section 12(b) of the Act?
No, the filing explicitly states that Silver Bull Resources, Inc. has no securities registered pursuant to Section 12(b) of the Act.
Filing Stats: 4,557 words · 18 min read · ~15 pages · Grade level 14.3 · Accepted 2024-06-13 16:50:33
Key Financial Figures
- $0.01 — e 47,365,652 shares of the registrant's $0.01 par value common stock outstanding, the
Filing Documents
- svbl-20240430.htm (10-Q) — 624KB
- ex31x1.htm (EX-31.1) — 8KB
- ex31x2.htm (EX-31.2) — 8KB
- ex32x1.htm (EX-32.1) — 4KB
- ex32x2.htm (EX-32.2) — 4KB
- 0001079973-24-000871.txt ( ) — 4420KB
- svbl-20240430.xsd (EX-101.SCH) — 60KB
- svbl-20240430_cal.xml (EX-101.CAL) — 30KB
- svbl-20240430_def.xml (EX-101.DEF) — 223KB
- svbl-20240430_lab.xml (EX-101.LAB) — 403KB
- svbl-20240430_pre.xml (EX-101.PRE) — 223KB
- svbl-20240430_htm.xml (XML) — 460KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 3
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS. 3
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. 23
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 30
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES. 30
– OTHER INFORMATION
PART II – OTHER INFORMATION 30
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS. 30
RISK FACTORS
ITEM 1A. RISK FACTORS. 30
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 30
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES. 31
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES. 31
OTHER INFORMATION
ITEM 5. OTHER INFORMATION. 31
EXHIBITS
ITEM 6. EXHIBITS. 32
SIGNATURES
SIGNATURES 33 [The balance of this page has been intentionally left blank.] 2
– FINANCIAL
PART I – FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS. SILVER BULL RESOURCES, INC. (AN EXPLORATION STAGE COMPANY) CONDENSED CONSOLIDATED BALANCE SHEETS April 30, 2024 October 31, 2023 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents (Note 15) $ 447,578 $ 1,008,507 Other receivables 2,620 5,685 Accounts receivable (Note 5) 222,356 140,097 Prepaid expenses and deposits 23,256 44,637 Due from related party (Note 7) 135,721 57,853 Total Current Assets 831,531 1,256,779 Value-added tax receivable, net of allowance for uncollectible taxes of $ 575,956 and $ 536,010 , respectively (Note 8) 108,422 100,613 Office and mining equipment, net (Note 9) 127,170 130,937 Property concessions (Note 10) 5,004,386 5,004,386 TOTAL ASSETS $ 6,071,509 $ 6,492,715 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 117,547 $ 517,489 Accrued liabilities and expenses 344,918 258,590 Income tax payable 1,500 3,000 Loan payable (Note 11) — 43,256 Total Current Liabilities 463,965 822,335 Warrant derivative liability (Note 14) 145,056 78,088 TOTAL LIABILITIES 609,021 900,423 COMMITMENTS AND CONTINGENCIES (Note 16) STOCKHOLDERS' EQUITY (Notes 6, 12, 13 and 14) Common stock, $ 0.01 par value; 150,000,000 shares authorized, 47,365,652 shares issued and outstanding 2,541,515 2,541,515 Additional paid-in capital 141,686,083 141,604,015 Accumulated deficit ( 138,857,358 ) ( 138,645,486 ) Other comprehensive income 92,248 92,248 Total Stockholders' Equity 5,462,488 5,592,292 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,071,509 $ 6,492,715 The accompanying notes are an integral part of these interim condensed consolidated financial statements. 3 SILVER BULL RESOURCES, INC. (AN EXPLORATION STAGE COMPANY) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) Three Months Ended April 30, Six Months Ended April 30, 20