10-Q Filing

Silo Pharma, Inc. CIK: 1514183 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-039078`
Period End Date	20230331
Filing Date	20230512
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	f10q0323_silopharma_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 59 Cash Flow Statement 46 Stockholders Equity 13

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.37M	USD	Point-in-time
Short-term investments, at fair value	`ShortTermInvestments`	$6.01M	USD	Point-in-time
Equity investments, at fair value	`EquityInvestmentsAtCost`	$3.51K	USD	Point-in-time
Equity investments, at fair value	`EquityInvestmentsAtCost`	$3.12K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$135.89K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$204.35K	USD	Point-in-time
Interest receivable non-current (in Dollars)	`InterestReceivableNoncurrent`	$7.19K	USD	Point-in-time
Note receivable, including interest receivable of $7,193 and $6,010 at March 31, 2023 and December 31, 2022	`NoteReceivableNoncurrentIncludingInterestReceivable`	$66.01K	USD	Point-in-time
Note receivable, including interest receivable of $7,193 and $6,010 at March 31, 2023 and December 31, 2022	`NoteReceivableNoncurrentIncludingInterestReceivable`	$67.19K	USD	Point-in-time
Interest receivable non-current (in Dollars)	`InterestReceivableNoncurrent`	$6.01K	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.57M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.95M	USD	Point-in-time
Prepaid expenses and other assets - non-current	`PrepaidExpenseNoncurrent`	$69.36K	USD	Point-in-time
Prepaid expenses and other assets - non-current	`PrepaidExpenseNoncurrent`	$70.82K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total Assets	`Assets`	$11.02M	USD	Point-in-time
Total Assets	`Assets`	$11.64M	USD	Point-in-time
Accounts payable and accrued expenses	`LoansPayableCurrent`	$364.22K	USD	Point-in-time
Accounts payable and accrued expenses	`LoansPayableCurrent`	$660.28K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred revenue - current portion	`DeferredRevenueCurrent`	$72.10K	USD	Point-in-time
Deferred revenue - current portion	`DeferredRevenueCurrent`	$72.10K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$732.38K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$436.32K	USD	Point-in-time
Deferred revenue - long-term portion	`DeferredRevenueNoncurrent`	$865.78K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.16M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.16M	shares	Point-in-time
Deferred revenue - long-term portion	`DeferredRevenueNoncurrent`	$847.76K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.16M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.16M	shares	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$847.76K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$865.78K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.58M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.30M	USD	Point-in-time
Commitments and Contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,000,000 shares authorized:	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,000,000 shares authorized:	`PreferredStockValue`	-	USD	Point-in-time
Series C convertible preferred stock, $0.0001 par value, 4,280 shares designated; No shares issued and outstanding at March 31, 2023 and December 31, 2022 ($1,000 per share liquidation value)	`ConvertiblePreferredStockValueIssued1`	-	USD	Point-in-time
Series C convertible preferred stock, $0.0001 par value, 4,280 shares designated; No shares issued and outstanding at March 31, 2023 and December 31, 2022 ($1,000 per share liquidation value)	`ConvertiblePreferredStockValueIssued1`	-	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized; 3,158,797 shares issued and outstanding at March 31, 2023 and December 31, 2022	`CommonStockValue`	$316.00	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 shares authorized; 3,158,797 shares issued and outstanding at March 31, 2023 and December 31, 2022	`CommonStockValue`	$316.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$17.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$17.52M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.24K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.08M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$10.34M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$9.06M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$8.50M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$9.44M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$11.02M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$11.64M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Continuing operations - diluted (in Dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.29	USD	1 Quarter
LICENSE FEE REVENUES:	`LicenseFees`	$18.03K	USD	1 Quarter
LICENSE FEE REVENUES:	`LicenseFees`	$18.03K	USD	1 Quarter
Continuing operations - diluted (in Dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.31	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$1.46K	USD	1 Quarter
COST OF REVENUES	`CostOfRevenue`	$1.46K	USD	1 Quarter
Discontinued operations - diluted (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations - diluted (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Diluted (in Shares) (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.16M	shares	1 Quarter
GROSS PROFIT	`GrossProfit`	$16.57K	USD	1 Quarter
Diluted (in Shares) (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	1.97M	shares	1 Quarter
GROSS PROFIT	`GrossProfit`	$16.57K	USD	1 Quarter
Compensation expense	`ShareBasedCompensation`	$162.26K	USD	1 Quarter
Compensation expense	`ShareBasedCompensation`	$127.18K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$365.27K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$196.25K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$202.91K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$170.28K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$24.64K	USD	1 Quarter
Insurance expense	`GeneralInsuranceExpense`	$33.29K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$64.97K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.83K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$820.05K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$543.83K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`OperatingIncomeLoss`	$-527.26K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`OperatingIncomeLoss`	$-803.49K	USD	1 Quarter
Interest and dividend income, net	`InterestAndDividendIncomeOperating`	$64.39K	USD	1 Quarter
Interest and dividend income, net	`InterestAndDividendIncomeOperating`	$415.00	USD	1 Quarter
Other income from equity shares earned for lock up agreement	`OtherIncome`	$85.73K	USD	1 Quarter
Other income from equity shares earned for lock up agreement	`OtherIncome`	-	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$1.66K	USD	1 Quarter
Penalty expense	`PenaltyExpense`	$166.03K	USD	1 Quarter
Penalty expense	`PenaltyExpense`	-	USD	1 Quarter
Net unrealized gain (loss) on equity investments	`GainLossOnInvestments`	$-161.80K	USD	1 Quarter
Net unrealized gain (loss) on equity investments	`GainLossOnInvestments`	$390.00	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-102.91K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-75.65K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$906.40K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$602.91K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-906.40K	USD	1 Quarter
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-602.91K	USD	1 Quarter
Loss from discontinued operations, net of tax	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-1.16K	USD	1 Quarter
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.16K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-604.07K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-906.40K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-604.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-906.40K	USD	1 Quarter
Unrealized gain on short-term investments	`UnrealizedGainLossOnInvestments`	$5.24K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-604.07K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-901.16K	USD	1 Quarter
Continuing operations - basic (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.29	USD	1 Quarter
Continuing operations - basic (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.31	USD	1 Quarter
Discontinued operations - basic (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations - basic (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
Basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.97M	shares	1 Quarter
Basic and diluted (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.16M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-604.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-906.40K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	1 Quarter
Bad debt recovery	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Stock-based compensation and professional fees	`EmployeeBenefitsAndShareBasedCompensation`	$4.24K	USD	1 Quarter
Stock-based compensation and professional fees	`EmployeeBenefitsAndShareBasedCompensation`	$45.01K	USD	1 Quarter
Amortization of prepaid stock-based professional fees	`AmortizationOfPrepaidStockbasedExpense`	-	USD	1 Quarter
Amortization of prepaid stock-based professional fees	`AmortizationOfPrepaidStockbasedExpense`	$33.77K	USD	1 Quarter
Net unrealized (gain) loss on equity investments	`NetUnrealizedLossgainLossOnEquityInvestments`	$-161.80K	USD	1 Quarter
Net unrealized (gain) loss on equity investments	`NetUnrealizedLossgainLossOnEquityInvestments`	$390.00	USD	1 Quarter
Equity shares earned for lock up agreement	`EquitySharesEarnedForServices`	-	USD	1 Quarter
Equity shares earned for lock up agreement	`EquitySharesEarnedForServices`	$-85.73K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$69.67K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$100.77K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInReceivables`	$1.18K	USD	1 Quarter
Interest receivable	`IncreaseDecreaseInReceivables`	$1.18K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$296.06K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-262.13K	USD	1 Quarter
Insurance payable	`IncreaseDecreaseInAssetsOfDiscontinuedOperation`	$64.84K	USD	1 Quarter
Insurance payable	`IncreaseDecreaseInAssetsOfDiscontinuedOperation`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.02K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-18.02K	USD	1 Quarter
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-789.16K	USD	1 Quarter
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-692.69K	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireInvestments`	$6.01M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Collection on note receivable	`CollectionOnNoteReceivable`	-	USD	1 Quarter
Collection on note receivable	`CollectionOnNoteReceivable`	$20.00K	USD	1 Quarter
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-6.01M	USD	1 Quarter
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$20.00K	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS:	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-769.16K	USD	1 Quarter
NET DECREASE IN CASH AND CASH EQUIVALENTS:	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.70M	USD	1 Quarter
CASH AND CASH EQUIVALENTS beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.67M	USD	Point-in-time
CASH AND CASH EQUIVALENTS beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.84M	USD	Point-in-time
CASH AND CASH EQUIVALENTS end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.67M	USD	Point-in-time
CASH AND CASH EQUIVALENTS end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.84M	USD	Point-in-time
Interest	`InterestPaidNet`	$167.69K	USD	1 Quarter
Interest	`InterestPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Common stock issued for conversion of Series C preferred stock	`CommonStockIssuedForFutureServices`	-	USD	1 Quarter
Common stock issued for conversion of Series C preferred stock	`CommonStockIssuedForFutureServices`	$76.00	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$10.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.44M	USD	Point-in-time
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.24K	USD	1 Quarter
Stock-based compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$45.01K	USD	1 Quarter
Unrealized gain on short-term investments	`OtherComprehensiveIncomeLossNetOfTax`	$5.24K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-604.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-906.40K	USD	1 Quarter
Balance	`StockholdersEquity`	$10.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$8.50M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.44M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.