The combined approximate carrying amount of the assets and liabilities
of Contratistas and Minera Metalin (consolidated with their wholly-owned subsidiary) are as follows at April 30, 2020:
| Assets: | |
Mexico |
| Cash and cash equivalents | |
$ | 17,000 | |
| Value-added tax receivable, net | |
| 216,000 | |
| Other receivables | |
| 4,000 | |
| Income tax receivable | |
| 1,000 | |
| Prepaid expenses and deposits | |
| 100,000 | |
| Office and mining equipment, net | |
| 208,000 | |
| Property concessions | |
| 5,020,000 | |
| Total assets | |
$ | 5,566,000 | |
| Liabilities: | |
|
| Accounts payable | |
$ | 51,000 | |
| Accrued liabilities and expenses | |
| 116,000 | |
| Payable to Silver Bull Resources, Inc. to be converted to equity upon exercise of the Option | |
| 3,348,000 | |
| Total liabilities | |
$ | 3,515,000 | |
| | |
| | |
| Net advances and investment in the Company’s Mexican subsidiaries | |
$ | 2,051,000 | |
|