Silver Bull Resources Files Q3 2024 10-Q

TL;DR

**Silver Bull Resources filed its 10-Q for Q3 2024. Check financials.**

AI Summary

Silver Bull Resources, Inc. filed its 10-Q for the quarterly period ended July 31, 2024. The company, incorporated in Nevada, operates in the Metal Mining sector. Its principal executive offices are located in Vancouver, Canada. The filing covers the period up to July 31, 2024, and was submitted on September 12, 2024.

Why It Matters

This filing provides investors with an update on Silver Bull Resources' financial performance and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing (10-Q) and does not contain inherently high-risk information on its own.

Key Players & Entities

• SILVER BULL RESOURCES, INC. (company) — Registrant
• July 31, 2024 (date) — Quarterly period ended
• September 12, 2024 (date) — Filing date
• Nevada (location) — State of incorporation
• Vancouver, Canada (location) — Principal executive offices
• METAL MINING (industry) — Standard Industrial Classification

FAQ

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-20240731.htm (10-Q) — 613KB
• ex31x1.htm (EX-31.1) — 8KB
• ex31x2.htm (EX-31.2) — 8KB
• ex32x1.htm (EX-32.1) — 4KB
• ex32x2.htm (EX-32.2) — 4KB
• 0001079973-24-001348.txt ( ) — 4429KB
• svbl-20240731.xsd (EX-101.SCH) — 58KB
• svbl-20240731_cal.xml (EX-101.CAL) — 30KB
• svbl-20240731_def.xml (EX-101.DEF) — 217KB
• svbl-20240731_lab.xml (EX-101.LAB) — 403KB
• svbl-20240731_pre.xml (EX-101.PRE) — 228KB
• svbl-20240731_htm.xml (XML) — 457KB

– 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. 22

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 29

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES. 29

– OTHER INFORMATION

PART II – OTHER INFORMATION 29

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS. 29

RISK FACTORS

ITEM 1A. RISK FACTORS. 29

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. 29

DEFAULTS UPON SENIOR SECURITIES

ITEM 3. DEFAULTS UPON SENIOR SECURITIES. 30

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES. 30

OTHER INFORMATION

ITEM 5. OTHER INFORMATION. 30

EXHIBITS

ITEM 6. EXHIBITS. 31

SIGNATURES

SIGNATURES 32 [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 July 31, 2024 October 31, 2023 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents (Note 15) $ 303,561 $ 1,008,507 Other receivables 3,470 5,685 Accounts receivable (Note 5) 392,487 140,097 Prepaid expenses and deposits 39,649 44,637 Due from related party (Note 7) 17,884 57,853 Total Current Assets 757,051 1,256,779 Value-added tax receivable, net of allowance for uncollectible taxes of $ 509,448 and $ 536,010 , respectively (Note 8) 94,342 100,613 Office and mining equipment, net (Note 9) 124,826 130,937 Property concessions (Note 10) 5,004,386 5,004,386 TOTAL ASSETS $ 5,980,605 $ 6,492,715 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 52,969 $ 517,489 Accrued liabilities and expenses 316,288 258,590 Income tax payable 1,500 3,000 Loan payable (Note 11) — 43,256 Total Current Liabilities 370,757 822,335 Warrant derivative liability (Note 14) 107,615 78,088 TOTAL LIABILITIES 478,372 900,423 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 141,704,694 141,604,015 Accumulated deficit ( 138,836,224 ) ( 138,645,486 ) Other comprehensive income 92,248 92,248 Total Stockholders' Equity 5,502,233 5,592,292 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,980,605 $ 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 INCOME (LOSS) (Unaudited) Three Months Ended July 31, Nine Months Ended July 31,

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