$SILO
Silo Pharma, Inc.

2024 Q3 Form 10-Q Financial Statement

#000121390024068296 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $18.03K $18.03K $18.03K
YoY Change 0.0% 0.0% 0.0%
Cost Of Revenue $1.459K $1.459K $1.460K
YoY Change 0.0% 0.0% 0.0%
Gross Profit $16.57K $16.57K $16.57K
YoY Change 0.0% 0.0% 0.0%
Gross Profit Margin 91.91% 91.91% 91.9%
Selling, General & Admin $509.1K $50.57K $843.3K
YoY Change -17.89% -78.85% -18.82%
% of Gross Profit 3072.98% 305.26% 5089.5%
Research & Development $517.5K $392.8K $337.0K
YoY Change 196.6% 200.51% -46.91%
% of Gross Profit 3124.16% 2371.27% 2033.61%
Depreciation & Amortization $3.090K
YoY Change
% of Gross Profit 18.65%
Operating Expenses $1.027M $1.019M $1.180M
YoY Change 29.96% -9.92% -29.47%
Operating Profit -$1.010M -$1.003M -$1.164M
YoY Change 30.6% -10.06% -29.77%
Interest Expense $81.24K $70.99K $112.2K
YoY Change 7436.18% 3710.52% -1920.62%
% of Operating Profit
Other Income/Expense, Net $81.24K $71.00K $0.00
YoY Change -28.26% -30.42% -100.0%
Pretax Income -$928.8K -$931.8K -$1.052M
YoY Change 40.7% -8.01% -36.76%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$928.8K -$931.8K -$1.121M
YoY Change 40.7% -8.01% -32.57%
Net Earnings / Revenue -5152.92% -5169.37% -6218.41%
Basic Earnings Per Share -$0.22 -$0.31
Diluted Earnings Per Share -$0.22 -$0.31 -$0.38
COMMON SHARES
Basic Shares Outstanding 4.484M shares 2.803M shares 3.109M shares
Diluted Shares Outstanding 4.302M shares 3.053M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.015M $7.609M $7.665M
YoY Change -8.61% -23.82% -32.58%
Cash & Equivalents $4.861M $4.506M $3.524M
Short-Term Investments $3.154M $3.102M $4.141M
Other Short-Term Assets $246.5K $120.3K $15.97K
YoY Change 208.06% -0.86% -88.25%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.262M $7.729M $7.681M
YoY Change -7.39% -24.06% -33.62%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $244.3K $247.4K $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $60.60K $62.06K $64.98K
YoY Change -13.43% -8.6% -8.25%
Total Long-Term Assets $304.9K $309.5K $64.98K
YoY Change 358.91% 355.75% -8.24%
TOTAL ASSETS
Total Short-Term Assets $8.262M $7.729M $7.681M
Total Long-Term Assets $304.9K $309.5K $64.98K
Total Assets $8.567M $8.038M $7.746M
YoY Change -4.68% -21.54% -33.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $972.7K $1.251M $703.5K
YoY Change 577.36% 19.34% 93.15%
Accrued Expenses
YoY Change
Deferred Revenue $72.10K $72.10K $72.10K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.045M $1.323M $775.6K
YoY Change 53.93% 18.09% 77.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $739.6K $757.6K $793.7K
YoY Change -8.69% -8.69% -8.33%
Total Long-Term Liabilities $739.6K $757.6K $793.7K
YoY Change -8.88% -8.69% -8.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.045M $1.323M $775.6K
Total Long-Term Liabilities $739.6K $757.6K $793.7K
Total Liabilities $1.784M $2.081M $1.569M
YoY Change 19.72% 6.7% 20.52%
SHAREHOLDERS EQUITY
Retained Earnings -$13.53M -$12.61M -$10.87M
YoY Change 38.8% 38.66% 51.61%
Common Stock $449.00 $408.00 $316.00
YoY Change 44.37% 31.19% 0.0%
Preferred Stock $17.53M
YoY Change 0.08%
Treasury Stock (at cost) $6.268K $644.2K $471.1K
YoY Change -96.13% 3876.51%
Treasury Stock Shares
Shareholders Equity $6.782M $5.958M $6.177M
YoY Change
Total Liabilities & Shareholders Equity $8.567M $8.038M $7.746M
YoY Change -4.68% -21.54% -33.47%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$928.8K -$931.8K -$1.121M
YoY Change 40.7% -8.01% -32.57%
Depreciation, Depletion And Amortization $3.090K
YoY Change
Cash From Operating Activities -$1.347M -$731.8K -$914.5K
YoY Change 25.84% 33.06% 3.22%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$40.43K $954.3K $4.433M
YoY Change -103.23% -124.94%
Cash From Investing Activities -$40.43K $954.3K $4.433M
YoY Change -103.23% -124.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.742M 1.616M -191.1K
YoY Change -1261.01% -1333.63%
NET CHANGE
Cash From Operating Activities -1.347M -731.8K -914.5K
Cash From Investing Activities -40.43K 954.3K 4.433M
Cash From Financing Activities 1.742M 1.616M -191.1K
Net Change In Cash 354.6K 1.838M 3.327M
YoY Change 1081.97% -140.78% -475.54%
FREE CASH FLOW
Cash From Operating Activities -$1.347M -$731.8K -$914.5K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Document Quarterly Report
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dei Document Period End Date
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dei Document Transition Report
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dei Entity File Number
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dei Entity Registrant Name
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SILO PHARMA, INC.
dei Entity Incorporation State Country Code
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dei Entity Tax Identification Number
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677 N. Washington Boulevard
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us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
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silo Amortization Of Prepaid Stockbased Expense
AmortizationOfPrepaidStockbasedExpense
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us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-1025 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-2179 usd
silo Equity Shares Earned For Services
EquitySharesEarnedForServices
3118 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
101399 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
50071 usd
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
2380 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
299889 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
683874 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-36051 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-36051 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1569982 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1242654 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1149320 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
517821 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
97452 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
10352410 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1051868 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9834589 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1673216 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
173113 usd
us-gaap Payments For Repurchase Of Other Equity
PaymentsForRepurchaseOfOtherEquity
130959 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1500106 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
981992 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3524308 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11367034 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4506300 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
158832 usd
us-gaap Interest Paid Net
InterestPaidNet
3729 usd
us-gaap Interest Paid Net
InterestPaidNet
3518 usd
silo Change In Accumulated Other Comprehensive Loss And Shortterm Investments
ChangeInAccumulatedOtherComprehensiveLossAndShorttermInvestments
14253 usd
silo Change In Accumulated Other Comprehensive Loss And Shortterm Investments
ChangeInAccumulatedOtherComprehensiveLossAndShorttermInvestments
3281 usd
silo Cancellation Of Treasury Stock
CancellationOfTreasuryStock
114758 usd
silo Intangible Assets Acquired With Accounts Payable
IntangibleAssetsAcquiredWithAccountsPayable
247400 usd
us-gaap Nature Of Operations
NatureOfOperations
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>NOTE 1 – <span style="text-decoration:underline">ORGANIZATION AND BUSINESS</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Silo Pharma, Inc. (the “Company”) was incorporated in the State of New York on July 13, 2010, under the name Gold Swap, Inc. On January 24, 2013, the Company changed its state of incorporation from New York to Delaware. On December 19, 2023, the Company changed its state of incorporation from the State of Delaware to the State of Nevada.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research. The Company seeks to acquire and/or develop intellectual property or technology rights from leading universities and researchers to treat rare diseases, including the use of psychedelic drugs, such as psilocybin, and the potential benefits they may have in certain cases involving depression, mental health issues and neurological disorders. The Company is focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, post-traumatic stress disorder (“PTSD”), Alzheimer’s, Parkinson’s, and other rare neurological disorders. The Company’s mission is to identify assets to license and fund the research which the Company believes will be transformative to the well-being of patients and the health care industry. The Company was previously engaged in the development of a streetwear apparel brand, NFID (see below).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 21, 2019, the Company filed an amendment to its Certificate of Incorporation with the State of Delaware to change its name from Point Capital, Inc. to Uppercut Brands, Inc. Thereafter, on September 24, 2020, the Company filed an amendment to its Certificate of Incorporation with the State of Delaware to change its name from Uppercut Brands, Inc. to Silo Pharma, Inc.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 8, 2020, the Company incorporated a new wholly-owned subsidiary, Silo Pharma Inc., in the State of Florida. The Company has also secured the domain name www.silopharma.com. The Company had been exploring opportunities to expand the Company’s business by seeking to acquire and/or develop intellectual property or technology rights from leading universities and researchers to treat rare diseases, including the use of psychedelic drugs, such as psilocybin, and the potential benefits they may have in certain cases involving depression, mental health issues and neurological disorders. In July 2020, through the Company’s newly formed subsidiary, the Company entered into a commercial evaluation license and option agreement with University of Maryland, Baltimore (“UMB”) (see Note 8) pursuant to which, among other things, UMB granted the Company an exclusive, option to negotiate and obtain an exclusive, sublicensable, royalty-bearing license to certain technology. The option was extended and exercised on January 13, 2021. On February 12, 2021, the Company entered into a Master License Agreement with UMB (see Note 8). The Company plans to actively pursue the acquisition and/or development of intellectual property or technology rights to treat rare diseases, and to ultimately expand the Company’s business to focus on this line of business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 30, 2021, the Company entered into and closed on an Asset Purchase Agreement (the “Asset Purchase Agreement) with NFID, LLC, a Florida limited liability company (the “Buyer”), whereby the Buyer purchased from the Company certain assets, properties, and rights in connection with the Company’s NFID trademark name, logos, domain, and apparel clothing and accessories for a purchase price of $60,000 in the form of a promissory note amounting to $60,000. The promissory note bore 8% interest per annum and matured on October 1, 2023. On November 8, 2023 and effective on October 1, 2023, the Company and the Buyer entered into a First Amendment Promissory Note which increased the interest rate to 9% per annum and extended the maturity date to December 30, 2023 for no consideration. On December 30, 2023, the buyer defaulted on the promissory note (See Note 4).</p>
CY2021Q3 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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CY2021Q3 us-gaap Proceeds From Sale Of Notes Receivable
ProceedsFromSaleOfNotesReceivable
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CY2021Q3 us-gaap Accounts Payable Interest Bearing Interest Rate
AccountsPayableInterestBearingInterestRate
0.08 pure
CY2021Q3 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2023-10-01
CY2023Q4 us-gaap Accounts Payable Interest Bearing Interest Rate
AccountsPayableInterestBearingInterestRate
0.09 pure
CY2023Q4 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2023-12-30
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2024Q2 silo Working Capital
WorkingCapital
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us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future events. Accordingly, the actual results could differ significantly from estimates. Significant estimates during the six months ended June 30, 2024 and 2023 include the collectability of notes receivable, the percentage of completion of research and development projects, valuation of equity investments, valuation allowances for deferred tax assets, and the fair value of shares and stock options issued for services.</p>
CY2024Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2024Q2 silo Cash Spic Insured Amount
CashSPICInsuredAmount
250000 usd
silo Penalty From Early Termination Of Cd
PenaltyFromEarlyTerminationOfCD
166034 usd
CY2024Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-3281 usd
CY2023 silo Bad Debt Expense
BadDebtExpense
69600 usd
CY2023Q4 us-gaap Receivable With Imputed Interest Face Amount
ReceivableWithImputedInterestFaceAmount
60000 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
9600 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
120288 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15970 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
62064 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
64983 usd
CY2024Q2 us-gaap Intermediate Life Plants Useful Life
IntermediateLifePlantsUsefulLife
P20Y
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
774889 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
333632 usd
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
392824 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
130719 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1417669 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
433430 shares
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
4140880 usd
silo Additionsof Equity Securities
AdditionsofEquitySecurities
97452 usd
silo Additionsof Equity Securities
AdditionsofEquitySecurities
10352410 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
1149320 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
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us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-1025 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-2179 usd
silo Change In Accumulated Other Comprehensive Loss And Shortterm Investment
ChangeInAccumulatedOtherComprehensiveLossAndShorttermInvestment
14253 usd
silo Change In Accumulated Other Comprehensive Loss And Shortterm Investment
ChangeInAccumulatedOtherComprehensiveLossAndShorttermInvestment
-3281 usd
CY2024Q2 us-gaap Short Term Investments
ShortTermInvestments
3102240 usd
CY2023Q2 us-gaap Short Term Investments
ShortTermInvestments
9829129 usd
CY2024Q2 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
60000 usd
CY2023Q4 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
60000 usd
CY2024Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
9600 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
9600 usd
CY2024Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
69600 usd
CY2023Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
69600 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
69600 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
69600 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
247400 usd
CY2024Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P20Y
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
247400 usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
247400 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12370 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12370 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12370 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
12370 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
12370 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
185550 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
247400 usd
us-gaap Stock Issued During Period Shares Stock Splits
StockIssuedDuringPeriodSharesStockSplits
105000000 shares
CY2022Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
20000 shares
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
135100 usd
CY2022Q3 silo Restricted Common Share Price
RestrictedCommonSharePrice
6.755
CY2024Q2 us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
0.0001
CY2024Q2 us-gaap Management Fee Expense
ManagementFeeExpense
170000 usd
silo Gross Proceeds
GrossProceeds
1925801 usd
silo Net Proceeds
NetProceeds
1673216 usd
CY2024Q2 us-gaap Deferred Offering Costs
DeferredOfferingCosts
260950 usd
us-gaap Legal Fees
LegalFees
65833 usd
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
34037 shares
CY2024Q2 us-gaap Cash
Cash
3 usd
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1000000 usd
CY2023 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
252855 shares
CY2024Q2 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
0 usd
CY2023Q2 us-gaap Deferred Compensation Equity
DeferredCompensationEquity
8474 usd
CY2024Q2 silo Purchase Price
PurchasePrice
34037 shares
CY2024Q2 silo Purchase Price Per Share
PurchasePricePerShare
2.1799
CY2024Q2 silo Aggregate Common Warrants Shares
AggregateCommonWarrantsShares
917432 shares
CY2024Q2 silo Percentage Of Exercise Price Of Offering Price Per Share
PercentageOfExercisePriceOfOfferingPricePerShare
1.25 pure
CY2024Q2 silo Offering Price Per Share
OfferingPricePerShare
2.725
CY2023Q2 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
8474 usd
silo License Agreement Expire
LicenseAgreementExpire
P15Y
silo Sublicense Income Receivable Percentage
SublicenseIncomeReceivablePercentage
0.25 pure
us-gaap Payments For Fees
PaymentsForFees
2500 usd
silo Sales Of Licensed Products Percentage
SalesOfLicensedProductsPercentage
0.05 pure
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
50000000 usd
CY2024Q2 silo Initial License Fee
InitialLicenseFee
50000 usd
silo Percentage Of Net Sales
PercentageOfNetSales
0.02 pure
us-gaap Royalty Expense
RoyaltyExpense
500000 usd
silo Percentage Of License Fee
PercentageOfLicenseFee
0.05 pure
CY2021Q3 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
197400 usd
CY2024Q2 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
197400 usd
CY2024Q2 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
197400 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1676 usd
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
60570 usd
CY2023Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
430825 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
0 usd
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
215412 usd
silo Research Project Estimate Percentage
ResearchProjectEstimatePercentage
0.90 pure
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5891 usd
silo Research Remains To Be Billed
ResearchRemainsToBeBilled
656380 usd
silo Research Agreement
ResearchAgreement
67720 usd
CY2023 silo Research Agreement
ResearchAgreement
0 usd
us-gaap Fee Income
FeeIncome
654510 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
26612 usd
CY2024Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
35918 usd
CY2023Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
0 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1878928 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1878928 usd
silo Joint Venture Interest Rate
JointVentureInterestRate
0.60 pure
CY2024Q2 silo Cash Fee Equal Percentage
CashFeeEqualPercentage
0.075 pure
CY2024Q2 silo Percentage Of Proceeds In Offering
PercentageOfProceedsInOffering
0.01 pure
CY2024Q2 silo Percentage Of Aggregate Shares
PercentageOfAggregateShares
0.075 pure
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 silo Penalty From Early Termination Of Cd
PenaltyFromEarlyTerminationOfCD
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us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.61
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3052666 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3153852 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3156311 shares
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
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silo Amortization Of Prepaid Stockbased Expense
AmortizationOfPrepaidStockbasedExpense
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silo Equity Shares Earned For Services
EquitySharesEarnedForServices
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us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
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us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
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us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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silo Cancellation Of Treasury Stock
CancellationOfTreasuryStock
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silo Intangible Assets Acquired With Accounts Payable
IntangibleAssetsAcquiredWithAccountsPayable
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CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
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CY2024Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
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CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
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CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001514183

Files In Submission

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0001213900-24-068296-index-headers.html Edgar Link pending
0001213900-24-068296-index.html Edgar Link pending
0001213900-24-068296.txt Edgar Link pending
0001213900-24-068296-xbrl.zip Edgar Link pending
ea0210856-10q_silopharma.htm Edgar Link pending
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