Item 8. Financial Statements and Supplementary Data
Item
8. Financial Statements and Supplementary Data (Unaudited)
Quarterly
Income Statements
Year
Ended December 31, 2022
Three
months ended
Year
ended
(Amounts in 000’s of US$, except
for Share and per Share data)
March
31
June
30
September 30
December
31
December
31
EXPENSES
Sponsor’s
Fee
$ 1,168
$ 1,265
$ 1,049
$ 1,110
$ 4,592
Less: Waiver of
Sponsor’s Fee (Note 2.7)
(390 )
(421 )
(350 )
(370 )
(1,531 )
Total expenses
778
844
699
$ 740
$ 3,061
Net investment
loss
(778 )
(844 )
(699 )
(740 )
(3,061 )
REALIZED AND UNREALIZED
GAINS / (LOSSES)
Realized (loss) / gain on silver transferred
to pay expenses
77
92
(50 )
(69 )
50
Realized (loss) / gain on silver distributed
for the redemption of Shares
—
779
(4,936 )
(1,512 )
(5,669 )
Change in unrealized
gain and loss on investment in silver
73,050
(225,906 )
(61,597 )
229,412
14,959
Total (loss) /
gain on investment in sliver
73,127
(225,035 )
(66,583 )
227,831
9,340
Change in net assets
from operations
$ 72,349
$ (225,879 )
$ (67,282 )
$ 227,091
$ 6,279
Net increase / (decrease)
in net assets per Share
$ 1.58
$ (4.35 )
$ (1.38 )
$ 4.71
$ 0.13
Weighted average number of Shares
45,887,222
51,967,582
48,841,304
48,192,391
48,728,767
38
Year
Ended December 31, 2021
Three
months ended
Year
ended
(Amounts
in 000’s of US$, except for Share and per Share data)
March
31
June
30
September 30
December
31
December
31
EXPENSES
Sponsor’s
Fee
$ 1,022
$ 1,165
$ 1,119
$ 1,146
$ 4,452
Less:
Waiver of Sponsor’s Fee (Note 2.7)
(341 )
(388 )
(373 )
(382 )
(1,484 )
Total
expenses
681
777
746
764
2,968
Net
investment loss
(681 )
(777 )
(746 )
(764 )
(2,968 )
REALIZED
AND UNREALIZED GAINS / (LOSSES)
Realized
loss on silver transferred to pay expenses
184
173
153
83
593
Realized
loss on silver distributed for the redemption of Shares
13,011
1,261
—
—
14,272
Change
in unrealized (loss) / gain on investment in silver
(105,220 )
60,588
(174,242 )
63,710
(155,164 )
Total
(loss) / gain on investment in silver
(92,025 )
62,022
(174,089 )
63,793
(140,299 )
Change
in net assets from operations
$ (92,706 )
$ 61,245
$ (174,835 )
$ 63,029
$ (143,267 )
Net
(decrease) / increase in net assets per Share
$ (2.50 )
$ 1.52
$ (4.14 )
$ 1.88
$ (3.50 )
Weighted
average number of Shares
37,134,144
40,222,527
42,279,348
33,528,260
40,903,425
Note:
Quarterly balances may not add to totals due to independent rounding.
The
financial statements required by Regulation S-X, together with the report of the Trust’s independent registered public accounting
firm appear on pages F-1 to F-13 of this filing.
39
Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.