10-K Filing

Silo Pharma, Inc. CIK: 1514183 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001213900-24-025615`
Period End Date	20231231
Filing Date	20240325
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	ea0201957-10k_silopharma_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 66 Cash Flow Statement 56 Stockholders Equity 16

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Interest receivable current (in Dollars)	`InterestReceivableCurrent`	$6.01K	USD	Point-in-time
Interest receivable current (in Dollars)	`InterestReceivableCurrent`	$9.60K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.52M	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
Short-term investments	`ShortTermInvestments`	-	USD	Point-in-time
Preferred stock, designated	`PreferredStockDesignated`	-	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$4.14M	USD	Point-in-time
Preferred stock, designated	`PreferredStockDesignated`	-	shares	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Equity investments	`EquitySecuritiesFvNi`	$3.12K	USD	Point-in-time
Equity investments	`EquitySecuritiesFvNi`	-	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.97K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$135.89K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	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
Note receivable, including interest receivable of $9,600 and $6,010 at December 31, 2023 and 2022, respectively	`ReceivablesNetCurrent`	-	USD	Point-in-time
Note receivable, including interest receivable of $9,600 and $6,010 at December 31, 2023 and 2022, respectively	`ReceivablesNetCurrent`	$66.01K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.68M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.91M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.16M	shares	Point-in-time
Prepaid expenses and other assets - non-current	`PrepaidExpenseNoncurrent`	$70.82K	USD	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	252,855.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockCommonShares`	0.00	shares	Point-in-time
Prepaid expenses and other assets - non-current	`PrepaidExpenseNoncurrent`	$64.98K	USD	Point-in-time
Total Assets	`Assets`	$7.75M	USD	Point-in-time
Total Assets	`Assets`	$11.64M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$364.22K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$703.49K	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
Total Current Liabilities	`LiabilitiesCurrent`	$436.32K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$775.59K	USD	Point-in-time
Deferred revenue - long-term portion	`DeferredRevenueNoncurrent`	$793.68K	USD	Point-in-time
Deferred revenue - long-term portion	`DeferredRevenueNoncurrent`	$865.78K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$793.68K	USD	Point-in-time
Total Long Term Liabilities	`LiabilitiesNoncurrent`	$865.78K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.57M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.30M	USD	Point-in-time
Commitment and Contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitment and Contingencies (see Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,000,000 shares authorized: none designated as of December 31, 2023 Common stock, $0.0001 par value, 100,000,000 shares authorized; 3,159,096 and 3,158,797 shares issued and 2,906,241 and 3,158,797 shares outstanding at December 31, 2023 and 2022, respectively	`CommonStockValue`	$316.00	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,000,000 shares authorized: none designated as of December 31, 2023 Common stock, $0.0001 par value, 100,000,000 shares authorized; 3,159,096 and 3,158,797 shares issued and 2,906,241 and 3,158,797 shares outstanding at December 31, 2023 and 2022, respectively	`CommonStockValue`	$316.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalPreferredStock`	$17.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalPreferredStock`	$17.51M	USD	Point-in-time
Treasury stock, at cost (252,855 and 0 shares on December 31, 2023 and 2022, respectively)	`TreasuryStockPreferredValue`	-	USD	Point-in-time
Treasury stock, at cost (252,855 and 0 shares on December 31, 2023 and 2022, respectively)	`TreasuryStockPreferredValue`	$471.12K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.23K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.17M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$9.06M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$6.18M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$10.34M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$11.64M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.75M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
LICENSE FEE REVENUE	`Revenues`	$72.10K	USD	Annual
LICENSE FEE REVENUE	`Revenues`	$72.10K	USD	Annual
Continuing operations - diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-1.18	USD	Annual
Continuing operations - diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-1.71	USD	Annual
COST OF REVENUES	`CostOfRevenue`	$5.84K	USD	Annual
COST OF REVENUES	`CostOfRevenue`	$5.84K	USD	Annual
Discontinued operations - diluted	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	Annual
Discontinued operations - diluted	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.02	USD	Annual
GROSS PROFIT	`GrossProfit`	$66.26K	USD	Annual
GROSS PROFIT	`GrossProfit`	$66.26K	USD	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.28M	shares	Annual
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.08M	shares	Annual
Compensation expense	`ShareBasedCompensation`	$577.65K	USD	Annual
Compensation expense	`ShareBasedCompensation`	$871.62K	USD	Annual
Professional fees	`ProfessionalFees`	$1.50M	USD	Annual
Professional fees	`ProfessionalFees`	$1.73M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$1.29M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$845.09K	USD	Annual
Insurance expense	`GeneralInsuranceExpense`	$89.01K	USD	Annual
Insurance expense	`GeneralInsuranceExpense`	$125.89K	USD	Annual
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	Annual
Bad debt recovery	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$390.07K	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$227.26K	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.92M	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.69M	USD	Annual
LOSS FROM CONTINUING OPERATIONS	`OperatingIncomeLoss`	$-3.63M	USD	Annual
LOSS FROM CONTINUING OPERATIONS	`OperatingIncomeLoss`	$-3.86M	USD	Annual
Interest and dividend income, net	`InvestmentIncomeInterestAndDividend`	$72.64K	USD	Annual
Interest and dividend income, net	`InvestmentIncomeInterestAndDividend`	$398.53K	USD	Annual
Other income from equity shares earned for lock up agreement	`OtherIncome`	$85.73K	USD	Annual
Other income from equity shares earned for lock up agreement	`OtherIncome`	-	USD	Annual
Interest expense	`InterestExpense`	$4.87K	USD	Annual
Interest expense	`InterestExpense`	$2.20K	USD	Annual
Net realized loss on equity investments	`RealizedInvestmentGainsLosses`	-	USD	Annual
Net realized loss on equity investments	`RealizedInvestmentGainsLosses`	$-104.70K	USD	Annual
Penalty from early termination of CD	`PenaltyFromEarlyTerminationOfCD`	$166.03K	USD	Annual
Penalty from early termination of CD	`PenaltyFromEarlyTerminationOfCD`	-	USD	Annual
Net unrealized loss on equity investments	`IncomeLossFromEquityMethodInvestments`	$-331.20K	USD	Annual
Net unrealized loss on equity investments	`IncomeLossFromEquityMethodInvestments`	$-3.12K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-279.73K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$224.51K	USD	Annual
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.91M	USD	Annual
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.63M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	Annual
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-3.91M	USD	Annual
LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-3.63M	USD	Annual
Loss from discontinued operations, net of tax	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-1.16K	USD	Annual
Loss from discontinued operations, net of tax	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax`	$-69.60K	USD	Annual
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-69.60K	USD	Annual
LOSS FROM DISCONTINUED OPERATIONS	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.16K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.91M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.70M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.70M	USD	Annual
Unrealized loss on short-term investments	`UnrealizedGainLossOnInvestments`	-	USD	Annual
Unrealized loss on short-term investments	`UnrealizedGainLossOnInvestments`	$-6.23K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.91M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.71M	USD	Annual
Continuing operations - basic (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-1.71	USD	Annual
Continuing operations - basic (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-1.18	USD	Annual
Discontinued operations - basic (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	Annual
Discontinued operations - basic (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.02	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.08M	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	2.28M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.70M	USD	Annual
Bad debt expense - discontinued operations	`ProvisionForDoubtfulAccountsDiscontinuedOperations`	$69.60K	USD	Annual
Bad debt expense - discontinued operations	`ProvisionForDoubtfulAccountsDiscontinuedOperations`	-	USD	Annual
Bad debt recovery	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	Annual
Bad debt recovery	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Stock-based compensation and professional fees	`EmployeeBenefitsAndShareBasedCompensation`	$14.12K	USD	Annual
Stock-based compensation and professional fees	`EmployeeBenefitsAndShareBasedCompensation`	$156.05K	USD	Annual
Amortization of prepaid stock-based professional fees	`AmortizationOfPrepaidStockbasedExpense`	$90.07K	USD	Annual
Amortization of prepaid stock-based professional fees	`AmortizationOfPrepaidStockbasedExpense`	-	USD	Annual
Net realized loss on equity investments	`RealizedInvestmentGainsLosses`	-	USD	Annual
Net realized loss on equity investments	`RealizedInvestmentGainsLosses`	$-104.70K	USD	Annual
Net unrealized loss on equity investments	`IncomeLossFromEquityMethodInvestments`	$-331.20K	USD	Annual
Net unrealized loss on equity investments	`IncomeLossFromEquityMethodInvestments`	$-3.12K	USD	Annual
Equity shares earned for lock up agreement	`EquitySharesEarnedForServices`	$-85.73K	USD	Annual
Equity shares earned for lock up agreement	`EquitySharesEarnedForServices`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-35.70K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-55.34K	USD	Annual
Interest receivable	`IncreaseDecreaseInReceivables`	$3.59K	USD	Annual
Interest receivable	`IncreaseDecreaseInReceivables`	$4.80K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$339.27K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-53.72K	USD	Annual
Insurance payable	`IncreaseDecreaseInInsuranceLiabilities`	-	USD	Annual
Insurance payable	`IncreaseDecreaseInInsuranceLiabilities`	-	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-72.10K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-72.10K	USD	Annual
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-3.50M	USD	Annual
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-3.22M	USD	Annual
Purchase of short-term investments	`PaymentsForProceedsFromShortTermInvestments`	$4.15M	USD	Annual
Purchase of short-term investments	`PaymentsForProceedsFromShortTermInvestments`	$-66.71K	USD	Annual
Collection on note receivable	`ProceedsFromCollectionOfNotesReceivable`	-	USD	Annual
Collection on note receivable	`ProceedsFromCollectionOfNotesReceivable`	$20.00K	USD	Annual
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$86.71K	USD	Annual
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-4.15M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.94M	USD	Annual
Net proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	$471.12K	USD	Annual
Purchase of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	-	USD	Annual
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-471.12K	USD	Annual
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$4.94M	USD	Annual
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS:	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-7.84M	USD	Annual
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS:	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$1.53M	USD	Annual
CASH AND CASH EQUIVALENTS - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.84M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.52M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.84M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.52M	USD	Point-in-time
Interest	`InterestPaidNet`	$2.20K	USD	Annual
Interest	`InterestPaidNet`	$4.87K	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	$25.16K	USD	Annual
Change in accumulated other comprehensive loss	`ChangeInAccumulatedOtherComprehensiveLossAndShorttermInvestments`	-	USD	Annual
Change in accumulated other comprehensive loss	`ChangeInAccumulatedOtherComprehensiveLossAndShorttermInvestments`	$6.23K	USD	Annual
Common stock issued for future services	`StockIssued1`	-	USD	Annual
Common stock issued for future services	`StockIssued1`	$135.10K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.34M	USD	Point-in-time
Sales of common stock	`StockIssuedDuringPeriodValueNewIssues`	$4.94M	USD	Annual
Accretion of stock options expense to stock based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$14.12K	USD	Annual
Accretion of stock options expense to stock based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$111.01K	USD	Annual
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$471.12K	USD	Annual
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.00M	USD	Point-in-time
Accumulated other comprehensive loss - short-term investments	`OtherComprehensiveIncomeLossNetOfTax`	$-6.23K	USD	Annual
Common shares issued for professional fees	`StockIssuedDuringPeriodValueIssuedForServices`	$135.10K	USD	Annual
Common stock issued for conversion of Series C preferred stock	`ConversionOfStockAmountConverted1`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-3.91M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.70M	USD	Annual
Balance	`StockholdersEquity`	$9.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.18M	USD	Point-in-time
Balance	`StockholdersEquity`	$10.34M	USD	Point-in-time

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