Silo Pharma (SILO) S-1 21 Aug 24 IPO registration Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	SILO PHARMA, INC.
Document Type	S-1
Amendment Flag	false
Entity Central Index Key	0001514183
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Incorporation, State or Country Code	NV

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 4,506,300	$ 3,524,308	$ 11,367,034
Short-term investments	3,102,240	4,140,880
Equity investments			3,118
Prepaid expenses and other current assets	120,288	15,970	135,894
Note receivable, including interest receivable of $9,600 and $6,010 at December 31, 2023 and 2022, respectively			66,010
Total Current Assets	7,728,828	7,681,158	11,572,056
Prepaid expenses and other assets - non-current	62,064	64,983	70,821
LONG-TERM ASSETS:
Intangible assets, net	247,400
Total Long-Term Assets	309,464	64,983
Total Assets	8,038,292	7,746,141	11,642,877
CURRENT LIABILITIES:
Accounts payable and accrued expenses	1,250,777	703,488	364,216
Deferred revenue - current portion	72,102	72,102	72,102
Total Current Liabilities	1,322,879	775,590	436,318
LONG TERM LIABILITIES:
Deferred revenue - long-term portion	757,629	793,680	865,782
Total Long Term Liabilities	757,629	793,680	865,782
Total Liabilities	2,080,508	1,569,270	1,302,100
Commitment and Contingencies (see Note 8)
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.0001 par value, 5,000,000 shares authorized: none designated as of June 30, 2024 and December 31, 2023
Common stock, value	408	316	316
Additional paid-in capital	19,198,841	17,525,714	17,511,589
Treasury stock, at cost	(644,234)	(471,121)
Accumulated other comprehensive income (loss)	8,026	(6,227)
Accumulated deficit	(12,605,257)	(10,871,811)	(7,171,128)
Total Stockholders’ Equity	5,957,784	6,176,871	10,340,777
Total Liabilities and Stockholders’ Equity	$ 8,038,292	$ 7,746,141	$ 11,642,877

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Interest receivable (in Dollars)	$ 9,600	$ 9,600	$ 6,010
Preferred stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000	5,000,000
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, shares issued	4,076,528	3,159,096	3,158,797
Common stock, shares outstanding	3,720,818	2,906,241	3,158,797
Preferred stock, shares designated
Treasury stock, shares	355,710	252,855

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
LICENSE FEE REVENUE	$ 18,025	$ 18,025	$ 36,051	$ 36,051	$ 72,102	$ 72,102
COST OF REVENUES	1,459	1,459	2,919	2,919	5,838	5,838
GROSS PROFIT	16,566	16,566	33,132	33,132	66,264	66,264
OPERATING EXPENSES:
Compensation expense	168,381	169,186	341,727	331,443	871,625	577,651
Professional fees	386,465	570,295	641,067	935,565	1,726,061	1,496,687
Research and development	392,824	130,719	774,889	333,632	845,092	1,286,434
Insurance expense	21,101	22,251	42,805	46,896	89,007	125,889
Bad debt recovery						(20,000)
Selling, general and administrative expenses	50,569	239,100	114,931	304,066	390,071	227,259
Total operating expenses	1,019,340	1,131,551	1,915,419	1,951,602	3,921,856	3,693,920
LOSS FROM OPERATIONS	(1,002,774)	(1,114,985)	(1,882,287)	(1,918,470)	(3,855,592)	(3,627,656)
OTHER INCOME (EXPENSE):
Penalty from early termination of certificate of deposit				(166,034)	(166,034)
Foreign currency transaction loss	(2,929)		(11,624)
Interest and dividend income, net	77,042	109,584	165,219	173,972	398,530	72,637
Other income from equity shares earned for lock up agreement						85,733
Interest expense	(1,859)	(1,863)	(3,729)	(3,518)	(4,869)	(2,199)
Net realized loss on investments	(1,259)	(2,179)	(1,025)	(2,179)		(104,700)
Penalty from early termination of CD					(166,034)
Net unrealized loss on equity investments		(3,508)		(3,118)	(3,118)	(331,203)
Total other income (expense)	70,995	102,034	148,841	(877)	224,509	(279,732)
LOSS FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES	(931,779)	(1,012,951)	(1,733,446)	(1,919,347)	(3,631,083)	(3,907,388)
Provision for income taxes
LOSS FROM CONTINUING OPERATIONS					(3,631,083)	(3,907,388)
DISCONTINUED OPERATIONS:
Loss from discontinued operations, net of tax					(69,600)	(1,163)
LOSS FROM DISCONTINUED OPERATIONS					(69,600)	(1,163)
NET LOSS	(931,779)	(1,012,951)	(1,733,446)	(1,919,347)	(3,700,683)	(3,908,551)
COMPREHENSIVE LOSS:
Net loss	(931,779)	(1,012,951)	(1,733,446)	(1,919,347)	(3,700,683)	(3,908,551)
Other comprehensive loss:
Unrealized loss on short-term investments	(18,078)	(8,520)	14,253	(3,281)	(6,227)
Total comprehensive loss	$ (949,857)	$ (1,021,471)	$ (1,719,193)	$ (1,922,628)	$ (3,706,910)	$ (3,908,551)
NET LOSS PER COMMON SHARE:
Basic (in Dollars per share)	$ (0.31)	$ (0.32)	$ (0.59)	$ (0.61)
Continuing operations - basic (in Dollars per share)					$ (1.18)	$ (1.71)
Discontinued operations - basic (in Dollars per share)					$ (0.02)	$ 0
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in Shares)	3,052,666	3,153,852	2,959,800	3,156,311	3,079,874	2,284,240

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Continuing operations - Diluted (in Dollars per share)					$ (1.18)	$ (1.71)
Discontinued operations -Diluted (in Dollars per share)					$ (0.02)	$ 0
Diluted (in Shares)	3,052,666	3,153,852	2,959,800	3,156,311	3,079,874	2,284,240
Diluted	$ (0.31)	$ (0.32)	$ (0.59)	$ (0.61)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)	Preferred Stock Series C	Common Stock	Additional Paid In Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total
Balance at Dec. 31, 2021		$ 197	$ 12,324,646			$ (3,262,577)	$ 9,062,266
Balance (in Shares) at Dec. 31, 2021	227	1,972,739
Sale of common stock and pre-funded warrants		$ 115	4,940,833				4,940,948
Sale of common stock and pre-funded warrants (in Shares)		1,150,000
Accretion of stock options expense to stock based compensation			111,014				111,014
Common shares issued for professional fees		$ 2	135,098				135,100
Common shares issued for professional fees (in Shares)		20,000
Common stock issued for conversion of Series C preferred stock		$ 2	(2)
Common stock issued for conversion of Series C preferred stock (in Shares)	(227)	15,167
Rounding of shares
Rounding of shares (in Shares)		891
Net loss						(3,908,551)	(3,908,551)
Balance at Dec. 31, 2022		$ 316	17,511,589			(7,171,128)	10,340,777
Balance, (in Shares) at Dec. 31, 2022		3,158,797
Accretion of stock options expense to stock based compensation			4,237				4,237
Accumulated other comprehensive loss - short-term investments					5,239		5,239
Net loss						(906,396)	(906,396)
Balance at Mar. 31, 2023		$ 316	17,515,826		5,239	(8,077,524)	9,443,857
Balance, (in Shares) at Mar. 31, 2023		3,158,797
Balance at Dec. 31, 2022		$ 316	17,511,589			(7,171,128)	10,340,777
Balance (in Shares) at Dec. 31, 2022		3,158,797
Net loss							(1,919,347)
Balance at Jun. 30, 2023		$ 311	17,405,310	$ (16,201)	(3,281)	(9,090,475)	8,295,664
Balance, (in Shares) at Jun. 30, 2023		3,108,797		7,335
Balance at Dec. 31, 2022		$ 316	17,511,589			(7,171,128)	10,340,777
Balance (in Shares) at Dec. 31, 2022		3,158,797
Accretion of stock options expense to stock based compensation			14,125				14,125
Purchase of treasury stock				$ (471,121)			(471,121)
Purchase of treasury stock (in Shares)				252,855
Accumulated other comprehensive loss - short-term investments					(6,227)		(6,227)
Rounding of shares
Rounding of shares (in Shares)		299
Net loss						(3,700,683)	(3,700,683)
Balance at Dec. 31, 2023		$ 316	17,525,714	$ (471,121)	(6,227)	(10,871,811)	6,176,871
Balance, (in Shares) at Dec. 31, 2023		3,159,096		252,855
Balance at Mar. 31, 2023		$ 316	17,515,826		5,239	(8,077,524)	9,443,857
Balance (in Shares) at Mar. 31, 2023		3,158,797
Accretion of stock options expense to stock based compensation			4,237				4,237
Purchase of treasury stock				$ (130,959)			(130,959)
Purchase of treasury stock (in Shares)				57,335
Cancellation of treasury stock		$ (5)	(114,753)	$ 114,758
Cancellation of treasury stock (in Shares)		(50,000)		(50,000)
Accumulated other comprehensive loss - short-term investments					(8,520)		(8,520)
Net loss						(1,012,951)	(1,012,951)
Balance at Jun. 30, 2023		$ 311	17,405,310	$ (16,201)	(3,281)	(9,090,475)	8,295,664
Balance, (in Shares) at Jun. 30, 2023		3,108,797		7,335
Balance at Dec. 31, 2023		$ 316	17,525,714	$ (471,121)	(6,227)	(10,871,811)	6,176,871
Balance (in Shares) at Dec. 31, 2023		3,159,096		252,855
Purchase of treasury stock				$ (115,452)			(115,452)
Purchase of treasury stock (in Shares)				72,790
Accumulated other comprehensive loss - short-term investments					32,331		32,331
Net loss						(801,667)	(801,667)
Balance at Mar. 31, 2024		$ 316	17,525,714	$ (586,573)	26,104	(11,673,478)	5,292,083
Balance, (in Shares) at Mar. 31, 2024		3,159,096		325,645
Balance at Dec. 31, 2023		$ 316	17,525,714	$ (471,121)	(6,227)	(10,871,811)	6,176,871
Balance (in Shares) at Dec. 31, 2023		3,159,096		252,855
Net loss							(1,733,446)
Balance at Jun. 30, 2024		$ 408	19,198,841	$ (644,234)	8,026	(12,605,257)	5,957,784
Balance, (in Shares) at Jun. 30, 2024		4,076,528		355,710
Balance at Mar. 31, 2024		$ 316	17,525,714	$ (586,573)	26,104	(11,673,478)	5,292,083
Balance (in Shares) at Mar. 31, 2024		3,159,096		325,645
Sale of common stock and pre-funded warrants		$ 89	1,673,127				1,673,216
Sale of common stock and pre-funded warrants (in Shares)		883,395
Exercise of pre-funded warrants		$ 3					3
Exercise of pre-funded warrants (in Shares)		34,037
Purchase of treasury stock				$ (57,661)			(57,661)
Purchase of treasury stock (in Shares)				30,065
Accumulated other comprehensive loss - short-term investments					(18,078)		(18,078)
Net loss						(931,779)	(931,779)
Balance at Jun. 30, 2024		$ 408	$ 19,198,841	$ (644,234)	$ 8,026	$ (12,605,257)	$ 5,957,784
Balance, (in Shares) at Jun. 30, 2024		4,076,528		355,710

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,733,446)	$ (1,919,347)	$ (3,700,683)	$ (3,908,551)
Adjustments to reconcile net loss to net cash used in operating activities
Bad debt expense - discontinued operations			69,600
Bad debt recovery				(20,000)
Stock-based compensation and professional fees		8,474	14,125	156,047
Amortization of prepaid stock-based professional fees		67,550	90,067
Net realized loss on short-term investments	1,025	2,179		104,700
Net unrealized loss on equity investments		3,118	3,118	331,203
Equity shares earned for lock up agreement				(85,733)
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(101,399)	(50,071)	35,695	55,335
Interest receivable		(2,380)	(3,590)	(4,800)
Accounts payable and accrued expenses	299,889	683,874	339,272	(53,721)
Insurance payable
Deferred revenue	(36,051)	(36,051)	(72,102)	(72,102)
NET CASH USED IN OPERATING ACTIVITIES	(1,569,982)	(1,242,654)	(3,224,498)	(3,497,622)
CASH FLOWS FROM INVESTING ACTIVITIES:
Sale of short-term investments	1,149,320	517,821
Purchase of short-term investments	(97,452)	(10,352,410)	(4,147,107)	66,707
Collection on note receivable				20,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	1,051,868	(9,834,589)	(4,147,107)	86,707
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from sale of common stock				4,940,948
Proceeds from sale of common stock and pre-funded warrants	1,673,216
Proceeds from exercise of pre-funded warrants	3
Purchase of treasury stock	(173,113)	(130,959)	(471,121)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	1,500,106	(130,959)	(471,121)	4,940,948
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	981,992	(11,208,202)	(7,842,726)	1,530,033
CASH AND CASH EQUIVALENTS - beginning of the period	3,524,308	11,367,034	11,367,034	9,837,001
CASH AND CASH EQUIVALENTS - end of the period	4,506,300	158,832	3,524,308	11,367,034
Cash paid during the period for:
Interest	3,729	3,518	4,869	2,199
Income taxes				25,159
Non-cash investing and financing activities:
Change in accumulated other comprehensive income	14,253	3,281	6,227
Cancellation of treasury stock		114,758
Increase in intangible assets and accounts payable and accrued expenses	$ 247,400
Common stock issued for future services				$ 135,100

Organization and Business

Organization and Business	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Organization and Business [Abstract]
ORGANIZATION AND BUSINESS	NOTE 1 – ORGANIZATION AND BUSINESS 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. 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). 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. 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. 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).	N OTE 1 – ORGANIZATION AND BUSINESS 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. 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). 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. 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 new line of business. 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. Accordingly, the results of operations of this component, for all periods presented, are separately reported as “discontinued operations” on the accompanying consolidated statements of operations and comprehensive loss (see Note 4). On December 30, 2023, the buyer defaulted on the promissory note (See Note 4). On September 14, 2022, the Company filed a Certificate of Amendment to the Amended and Restated Articles of Incorporation (the “Certificate of Amendment”) with the Secretary of State of the State of Delaware to effect a 1-for-50 reverse stock split (the “Reverse Stock Split”) with respect to the outstanding shares of the Company’s common stock. The Certificate of Amendment became effective on September 14, 2022. The Reverse Stock Split was previously approved by the sole director and the majority of stockholders of the Company. The Reverse Stock Split was deemed effective at the open of business on September 15, 2022. All share and per share data in the consolidated financial statements have been retroactively adjusted to reflect the effect of the reverse stock split.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”) for interim financial information and with the instructions Article 8-03 of Regulation S-X. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. Certain information and note disclosure normally included in financial statements prepared in accordance with U.S. GAAP has been condensed or omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements. These unaudited consolidated financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 25, 2024. The Company’s unaudited consolidated financial statements include financial statements for Silo Pharma, Inc. and its inactive wholly-owned subsidiary with the same name as the parent entity, Silo Pharma, Inc. All intercompany transactions and balances have been eliminated in consolidation. Management acknowledges its responsibility for the preparation of the accompanying unaudited consolidated financial statements which reflect all adjustments, consisting of normal recurring and non-recurring adjustments, considered necessary in its opinion for a fair statement of its consolidated financial position and the consolidated results of its operations for the periods presented. Liquidity As reflected in the accompanying unaudited consolidated financial statements, the Company generated a net loss of $1,733,446 and used cash in operations of $1,322,582 during the six months ended June 30, 2024. Additionally, the Company has an accumulated deficit of $12,605,257 on June 30, 2024. As of June 30, 2024, the Company had working capital of $6,405,949. The positive working capital serves to mitigate the conditions that historically raised substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the Company has sufficient cash and liquid short-term investments to meet its obligations for a minimum of twelve months from the date of this filing. Use of Estimates 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. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when acquired to be cash equivalents. The Company places its cash with high credit quality financial institutions. The Company’s accounts at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 or by the Securities Investor Protection Corporation up to $250,000. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds deposits. On June 30, 2024 and December 31, 2023, the Company had cash in excess of FDIC limits of approximately $3,756,000 and $2,805,000, respectively. In connection with the early termination of a certificate of deposit, during the six months ended June 30, 2023, the Company paid a penalty of $166,034, which is reflected on the accompanying unaudited consolidated statement of operations and comprehensive loss. Any material loss that we may experience in the future could have an adverse effect on our ability to pay our operational expenses or make other payments. Short-Term Investments The Company’s portfolio of short-term investments consists of marketable debt securities which are comprised solely of highly rated U.S. government securities with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the unaudited consolidated balance sheet and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income and as a component of the unaudited consolidated statements of comprehensive loss. Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income (expense), net in the unaudited consolidated statements of operations and comprehensive loss. An impairment loss may be recognized when the decline in fair value of the debt securities is determined to be other-than-temporary. The Company evaluates its investments for other-than-temporary declines in fair value below the cost basis each quarter, or whenever events or changes in circumstances indicate that the cost basis of the short-term investments may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security, such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required to sell the security before recovery of its amortized cost basis. The Company recorded $(18,078) and $14,253 of unrealized (loss) income on short-term investments as a component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2024, respectively. The Company recorded $(8,520) and $(3,281) of unrealized loss as a component of accumulated other comprehensive loss for the three and six months ended June 30, 2023, respectively. Equity Investments, at Fair Value Realized gain or loss is recognized when an investment is disposed of and is computed as the difference between the Company’s carrying value and the net proceeds received from such disposition. Realized gains and losses on investment transactions are determined by specific identification. Net unrealized gains or losses are computed as the difference between the fair value of the investment and the cost basis of such investment. Net unrealized gains or losses for equity investments are recognized in operations as the difference between the carrying value at the beginning of the period and the fair value at the end of the period. As of June 30, 2024 and December 31, 2023, the Company had no such investments. Note Receivable The Company recognizes an allowance for losses on notes receivable in an amount equal to the estimated probable losses net of recoveries. The allowance is based on an analysis of historical bad debt experience, current note receivable aging, and expected future write-offs, as well as an assessment of specific identifiable accounts considered at risk or uncollectible. The expense associated with the allowance for doubtful accounts is recorded as part of general and administrative expenses. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600. As of June 30, 2024, there were no subsequent collections of previously written-off notes receivable. Prepaid Expenses Prepaid expenses and other current assets of $120,288 and $15,970 on June 30, 2024 and December 31, 2023, respectively, consist primarily of costs paid for future services which will occur within a year. On June 30, 2024 and December 31, 2023, prepaid expenses and other assets – non-current amounted to $62,064 and $64,983, respectively, and consist primarily of costs paid for future services which will occur after a year. Prepaid expenses may include prepayments in cash and equity instruments for consulting, research and development, license fees, public relations and business advisory services, and legal fees which are being amortized over the terms of their respective agreements, which may exceed a year of service. Intangible Assets Intangible assets, consisting of an exclusive license agreement, are carried at cost less accumulated amortization, computed using the straight-line method over the estimated useful life of 20 years, less any impairment charges. The Company examines the possibility of decreases in the value of these assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable. Revenue Recognition The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company records interest and dividend income on an accrual basis to the extent that the Company expects to collect such amounts. For the license and royalty income, revenue is recognized when the Company satisfies the performance obligation based on the related license agreement. Payments received from the licensee that are related to future periods are recorded as deferred revenue to be recognized as revenues over the term of the related license agreement (see Note 8). Cost of Revenues The primary components of cost of revenues on license fees includes the cost of the license fees. Payments made to the licensor that are related to future periods are recorded as prepaid expense to be amortized over the term of the related license agreement (see Note 8). Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation – Stock Compensation”, which requires recognition in the financial statements of the cost of employee, director, and non-employee services received in exchange for an award of equity instruments over the period the employee, director, or non-employee is required to perform the services in exchange for the award (presumptively, the vesting period). The ASC also requires measurement of the cost of employee, director, and non-employee services received in exchange for an award based on the grant-date fair value of the award. The Company has elected to recognize forfeitures as they occur as permitted under Accounting Standards Update (“ASU”) 2016-09 Improvements to Employee Share-Based Payment. Income Taxes Deferred income tax assets and liabilities arise from temporary differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect when these differences reverse. Deferred tax assets and liabilities are classified as current or non-current, depending upon the classification of the asset or liabilities to which they relate. Deferred tax assets and liabilities not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company follows the provisions of Financial Accounting Standards Board (“FASB”) ASC 740-10, “Uncertainty in Income Taxes”. Certain recognition thresholds must be met before a tax position is recognized in the financial statements. An entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. The Company does not believe it has any uncertain tax positions as of June 30, 2024 and December 31, 2023 that would require either recognition or disclosure in the accompanying unaudited consolidated financial statements. Research and Development In accordance with ASC 730-10, “Research and Development-Overall,” Leases Leases are accounted for using ASU 2016-02, “ Leases (Topic 842)” Net Loss per Common Share Basic loss per share is computed by dividing net loss allocable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period using the as-if converted method. Potentially dilutive securities which include stock options and stock warrants are excluded from the computation of diluted shares outstanding if they would have an anti-dilutive impact on the Company’s net losses. The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the six months ended June 30, 2024 and 2023: June 30, June 30, 2024 2023 Stock options 26,850 28,850 Warrants 1,390,819 404,580 1,417,669 433,430 Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s unaudited consolidated financial statements.	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), the instructions to Form 10-K, and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for financial information. The Company’s consolidated financial statements include financial statements for Silo Pharma, Inc. and its inactive wholly-owned subsidiary with the same name as the parent entity, Silo Pharma, Inc. All intercompany transactions and balances have been eliminated in consolidation. In accordance with, Accounting Standard Codification (“ASC”) 205-20 “Discontinued Operations” establishes that the disposal or abandonment of a component of an entity or a group of components of an entity should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. As a result, the NFID, LLC component’s results of operations have been classified as discontinued operations on a retrospective basis for all periods presented. Accordingly, the results of operations of this component, for all periods, are separately reported as “discontinued operations” on the consolidated statements of operations. Liquidity As reflected in the accompanying consolidated financial statements, the Company generated a net loss of $3,700,683 and used cash in operations of $3,224,498 during the year ended December 31, 2023. Additionally, the Company has an accumulated deficit of $10,871,811 on December 31, 2023. As of December 31, 2023, the Company had working capital of $6,905,568. The positive working capital serves to mitigate the conditions that historically raised substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the Company has sufficient cash and liquid short-term investments to meet its obligations for a minimum of twelve months from the date of this filing. Use of Estimates The preparation of 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 years ended December 31, 2023 and 2022 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, the fair value of warrants issued with debt, and the fair value of shares and stock options issued for services. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when acquired to be cash equivalents. The Company places its cash with high credit quality financial institutions. The Company’s accounts at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 or by the Securities Investor Protection Corporation up to $250,000. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds deposits. On December 31, 2023 and 2022, the Company had cash in excess of FDIC limits of approximately $2,805,000 and $10,868,000, respectively. During the year ended December 31, 2023, the Company transferred funds to other high quality financial institutions to mitigate its risk to ensure that its exposure is limited or reduced to the FDIC protection limits. In connection with the early termination of a certificate of deposit, in 2023, the Company paid a penalty of $166,034, which is reflected on the accompanying consolidated statement of operations and comprehensive loss during the year ended December 2023. Any material loss that we may experience in the future could have an adverse effect on our ability to pay our operational expenses or make other payments. Short-Term Investments The Company’s portfolio of short-term investments consists of marketable debt securities which are comprised solely of highly rated U.S. government securities with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the consolidated balance sheet and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income and as a component of the consolidated statements of comprehensive loss. Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income (expense), net in the consolidated statements of operations and comprehensive loss. An impairment loss may be recognized when the decline in fair value of the debt securities is determined to be other-than-temporary. The Company evaluates its investments for other-than-temporary declines in fair value below the cost basis each quarter, or whenever events or changes in circumstances indicate that the cost basis of the short-term investments may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security, such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required to sell the security before recovery of its amortized cost basis. The Company recorded $6,227 of unrealized loss on short-term investments as a component of other comprehensive loss for the year ended December 31, 2023, respectively. The Company did not recognize any unrealized gains or losses on short-term investments during the year ended December 31, 2022. Equity Investments, at Fair Value Realized gain or loss is recognized when an investment is disposed of and is computed as the difference between the Company’s carrying value and the net proceeds received from such disposition. Realized gains and losses on investment transactions are determined by specific identification. Net unrealized appreciation or depreciation is computed as the difference between the fair value of the investment and the cost basis of such investment. Net unrealized gains or losses for equity investments are recognized in operations as the difference between the carrying value at the beginning of the period and the fair value at the end of the period. Note Receivable The Company recognizes an allowance for losses on notes receivable in an amount equal to the estimated probable losses net of recoveries. The allowance is based on an analysis of historical bad debt experience, current note receivable aging, and expected future write-offs, as well as an assessment of specific identifiable accounts considered at risk or uncollectible. The expense associated with the allowance for doubtful accounts is recorded as part of general and administrative expenses. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600, which is recorded in loss from discontinued operations on the accompanying consolidated statement of operations. Prepaid Expenses Prepaid expenses and other current assets of $15,970 and $135,894 on December 31, 2023 and 2022, respectively, consist primarily of costs paid for future services which will occur within a year. On December 31, 2023 and 2022, prepaid expenses and other assets – non-current amounted to $64,983 and $70,821, respectively, and consist primarily of costs paid for future services which will occur after a year. Prepaid expenses may include prepayments in cash and equity instruments for consulting, research and development, license fees, public relations and business advisory services, and legal fees which are being amortized over the terms of their respective agreements, which may exceed a year of service. Revenue Recognition The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company records interest and dividend income on an accrual basis to the extent that the Company expects to collect such amounts. For the license and royalty income, revenue is recognized when the Company satisfies the performance obligation based on the related license agreement. Payments received from the licensee that are related to future periods are recorded as deferred revenue to be recognized as revenues over the term of the related license agreement (see Note 8). Product sales were recognized when the NFID products were shipped to the customer and title was transferred and were recorded net of any discounts or allowances which are separately reported as “discontinued operations” on the consolidated statements of operations. Cost of Revenues The primary components of cost of revenues on license fees includes the cost of the license fees. Payments made to the licensor that are related to future periods are recorded as prepaid expense to be amortized over the term of the related license agreement (see Note 8). Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation – Stock Compensation”, which requires recognition in the financial statements of the cost of employee, director, and non-employee services received in exchange for an award of equity instruments over the period the employee, director, or non-employee is required to perform the services in exchange for the award (presumptively, the vesting period). The ASC also requires measurement of the cost of employee, director, and non-employee services received in exchange for an award based on the grant-date fair value of the award. The Company has elected to recognize forfeitures as they occur as permitted under Accounting Standards Update (“ASU”) 2016-09 Improvements to Employee Share-Based Payment. Income Taxes Deferred income tax assets and liabilities arise from temporary differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect when these differences reverse. Deferred tax assets and liabilities are classified as current or non-current, depending upon the classification of the asset or liabilities to which they relate. Deferred tax assets and liabilities not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company follows the provisions of Financial Accounting Standards Board (“FASB”) ASC 740-10, “Uncertainty in Income Taxes”. Certain recognition thresholds must be met before a tax position is recognized in the financial statements. An entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. The Company does not believe it has any uncertain tax positions as of December 31, 2023 and 2022 that would require either recognition or disclosure in the accompanying consolidated financial statements. Research and Development In accordance with ASC 730-10, “Research and Development-Overall,” Leases Leases are accounted for using ASU 2016-02, “ Leases (Topic 842)” Net Loss per Common Share Basic loss per share is computed by dividing net loss allocable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period using the as-if converted method. Potentially dilutive securities which include stock options and stock warrants are excluded from the computation of diluted shares outstanding if they would have an anti-dilutive impact on the Company’s net losses. The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the years ended December 31, 2023 and 2022: December 31, December 31, 2023 2022 Stock options 28,849 28,849 Warrants 404,580 404,580 433,429 433,429 Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments and Fair Value Measurements	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value of Financial Instruments and Fair Value Measurements [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS	NOTE 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Fair Value Measurements and Fair Value of Financial Instruments FASB ASC 820 - Fair Value Measurements and Disclosures Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying value of certain financial instruments, including cash and cash equivalents, prepaid expenses and other current assets, notes receivable, and accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (the “FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023. June 30, 2024 December 31, 2023 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 3,102,240 $ - $ - $ 4,140,880 $ - $ - The Company’s short-term investments and equity investments are level 1 measurements and are based on redemption value at each date. Short-Term Investments – Debt Securities, at Fair Value The following table summarizes activity in the Company’s short-term investments, at fair value for the periods presented: Six Months Ended Six Months Ended June 30, 2024 2023 Balance, beginning of period $ 4,140,880 $ - Additions 97,452 10,352,410 Sales at original cost (1,149,320 ) (517,821 ) Net realized loss on short-term investments (1,025 ) (2,179 ) Unrealized gain (loss) 14,253 (3,281 ) Balance, end of period $ 3,102,240 $ 9,829,129 ASC 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding equity instruments.	NOTE 3 – FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Fair Value Measurements and Fair Value of Financial Instruments FASB ASC 820 - Fair Value Measurements and Disclosures, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 requires disclosures about the fair value of all financial instruments, whether or not recognized, for financial statement purposes. Disclosures about the fair value of financial instruments are based on pertinent information available to the Company on December 31, 2023 and 2022. Accordingly, the estimates presented in these financial statements are not necessarily indicative of the amounts that could be realized on disposition of the financial instruments. FASB ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). Level 1 - Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2 - Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3 - Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The carrying value of certain financial instruments, including cash and cash equivalents, prepaid expenses and other current assets, notes receivable, and accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The Company analyzes all financial instruments with features of both liabilities and equity under the Financial Accounting Standard Board’s (the “FASB”) accounting standard for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022. December 31, 2023 December 31, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 4,140,880 $ - $ - $ - $ - $ - Equity investments $ - $ - $ - $ 3,118 $ - $ - The Company’s short-term investments and equity investments are level 1 measurements and are based on redemption value at each date. Short-Term Investments – Debt Securities, at Fair Value The following table summarizes activity in the Company’s short-term investments, at fair value for the periods presented: December 31, December 31, 2023 2022 Balance, beginning of year $ - $ - Additions 4,147,107 - Unrealized losses (6,227 ) - Balance, end of year $ 4,140,880 $ - Equity Investments, at Fair Value The following table summarizes activity in the Company’s equity investments, at fair value for the periods presented: December 31, December 31, 2023 2022 Balance, beginning of year $ 3,118 $ 419,995 Additions - 85,733 Sales at original cost - (171,407 ) Unrealized loss (3,118 ) (331,203 ) Balance, end of year $ - $ 3,118 On December 31, 2023 and 2022, equity instruments, at fair value consisted of 1,559 shares of common equity securities of one entity, Home Bistro, Inc. During the year ended December 31, 2022, the Company received 1,559 shares of Home Bistro, Inc. common stock with grant date fair value of $85,733, or $54.99 per share, in exchange for entering into a lock up and leak out agreement which was recorded as other income from equity shares earned for services in the accompanying consolidated statement of operations and comprehensive loss. The Company measures equity securities received for services at fair value on the date of receipt. During the year ended December 31, 2022, the Company sold its equity investments in Aikido Pharma, Inc. with cost of $171,407 for gross proceeds of $66,707 and the Company recorded a net realized loss on equity investments amounting to $104,700 as reflected in the accompanying consolidated statement of operations. Equity investments are carried at fair value with unrealized gains or losses which are recorded as net unrealized gain (loss) on equity investments in the accompanying consolidated statement of operations and comprehensive loss. Realized gains and losses are determined on a specific identification basis which is recorded as net realized gain (loss) on equity investments in the consolidated statement of operations and comprehensive loss. The Company reviews equity investments, at fair value, for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recovered. ASC 825-10 “Financial Instruments” allows entities to voluntarily choose to measure certain financial assets and liabilities at fair value (fair value option). The fair value option may be elected on an instrument-by-instrument basis and is irrevocable, unless a new election date occurs. If the fair value option is elected for an instrument, unrealized gains and losses for that instrument should be reported in earnings at each subsequent reporting date. The Company did not elect to apply the fair value option to any outstanding equity instruments.

Disposal of the Discontinued Op

Disposal of the Discontinued Operations of the NFID Business	12 Months Ended
	Dec. 31, 2023
Disposal of the Discontinued Operations of the NFID Business [Abstract]
DISPOSAL OF THE DISCONTINUED OPERATIONS OF THE NFID BUSINESS	NOTE 4 – DISPOSAL OF THE DISCONTINUED OPERATIONS OF THE NFID BUSINESS On September 30, 2021, the Company entered into and closed on an Asset Purchase Agreement (see Note 1) with NFID, LLC, an unrelated party, a Florida limited liability company, whereby the Company sold certain assets, properties, and rights in connection with its 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. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600, which is recorded in loss from discontinued operations on the accompanying consolidated statement of operations. As of December 31, 2022, the note receivable had a principal balance of $60,000 and accrued interest receivable of $6,010 for a total outstanding receivable balance of $66,010 (see Note 5). ASC 205-20 “Discontinued Operations” establishes that the disposal or abandonment of a component of an entity or a group of components of an entity should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. As a result, the component’s results of operations have been classified as discontinued operations on a retrospective basis for all periods presented. Accordingly, the results of operations of this component, for all periods, are separately reported as “discontinued operations” on the consolidated statements of operations. The summarized operating result of discontinued operations of the NFID Business included in the Company’s consolidated statements of operations for the years ended December 31, 2023 and 2022 is as follows: For the Year Ended December 31, 2023 2022 Product sales, net $ - $ - Cost of sales - 1,079 Gross loss - (1,079 ) Total operating and other non-operating expenses (69,600 ) (84 ) Loss from discontinued operations $ (69,600 ) $ (1,163 )

Note Receivable

Note Receivable	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Note Receivable [Abstract]
NOTE RECEIVABLE	NOTE 4 – NOTE RECEIVABLE On June 30, 2024 and December 31, 2023, note receivable consisted of the following: June 30, December 31, 2024 2023 Principal amount of note receivable $ 60,000 $ 60,000 Accrued interest receivable 9,600 9,600 Subtotal 69,600 69,600 Less: allowance for doubtful accounts (69,600 ) (69,600 ) Note receivable – current - - As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600. As of June 30, 2024, there were no subsequent collections of previously written-off notes receivable.	NOTE 5 – NOTE RECEIVABLE On December 31, 2023 and 2022, note receivable consisted of the following: December 31, December 31, 2023 2022 Principal amount of note receivable $ 60,000 $ 60,000 Accrued interest receivable 9,600 6,010 Subtotal 69,600 66,010 Less: allowance for doubtful accounts (69,600 ) - Note receivable – current - 66,010 On September 30, 2021, the Company executed a note receivable agreement with NFID, LLC in connection with an Asset Purchase Agreement (see Note 4). 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. The outstanding principal and accrued interest shall be due and payable on maturity. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600, which is recorded in loss from discontinued operations on the accompanying consolidated statement of operations. As of December 31, 2022, this note receivable had outstanding principal receivable of $60,000 and accrued interest receivable of $6,010 for a total receivable balance of $66,010 which is reflected in the accompanying consolidated balance sheet as note receivable – current.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Stockholders’ Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 6 – STOCKHOLDERS’ EQUITY Shares Authorized On December 4, 2023, stockholders of the Company approved a decrease to the number of authorized shares of the Company’s common stock from 500,000,000 shares to 100,000,000 shares. On December 4, 2023, the Company filed a Certificate of Amendment (the “Amendment”) to its Certificate of Incorporation with the Delaware Secretary of State to decrease its authorized shares of common stock from 500,000,000 shares to 100,000,000 shares. On December 19, 2023, the Company reincorporated as a Nevada corporation and filed Articles of Incorporation with the Nevada Secretary of State on such date. The Company has 105,000,000 shares authorized which consist of 100,000,000 shares of common stock and 5,000,000 shares of preferred stock. Common Stock Issued for Services On August 29, 2022, the Company entered into a one-year consulting agreement with an entity for investor relations services. In connection with this consulting agreement, the Company issued 20,000 restricted common shares of the Company to the consultant. These shares vest immediately. These shares were valued at $135,100, or $6.755 per common share, based on contemporaneous common share sales by the Company. In connection with this consulting agreement, during the six months ended June 30, 2024 and 2023, the Company recorded stock-based professional fees of $0 and $67,550, respectively. Sale of Common Stock and Warrants On June 4, 2024, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors, pursuant to which the Company agreed to sell to such investors 883,395 shares (the “Shares”) of common stock of the Company (the “Common Stock”) at a purchase price of $2.18 per share of Common Stock, and pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to 34,037 shares of Common Stock of the Company (the “Pre-Funded Warrant Shares”), having an exercise price of $0.0001 per share, and a purchase price of $2.1799 per Pre-Funded Warrant (the “Offering”). The shares of Common Stock and Pre-Funded Warrants (and shares of common stock underlying the Pre-Funded Warrants) were offered by the Company pursuant to its shelf registration statement on Form S-3 (File No. 333-276658), which was declared effective by the Securities and Exchange Commission on January 30, 2024. Concurrently with the sale of Common Stock and/or the Pre-Funded Warrants, pursuant to the Purchase Agreement in a private placement, for each share of Common Stock and/or Pre-Funded Warrant purchased by the investors, such investors received from the Company an unregistered warrant (the “Common Warrant”) to purchase one share of Common Stock (the “Common Warrant Shares”). Accordingly, the Company issued an aggregate of 917,432 Common Warrants to the Investors. The Common Warrants have an exercise price of $2.06 per share and are exercisable immediately upon issuance for a five-year period. On April 23, 2024, the Company entered into an engagement agreement with H.C. Wainwright & Co., LLC, as exclusive placement agent (the “Placement Agent”), pursuant to which the Placement Agent agreed to act as placement agent on a reasonable “best efforts” basis in connection with the Offering. The Company agreed to pay the Placement Agent an aggregate cash fee equal to 7.5% of the gross proceeds from the sale of securities in the Offering and a management fee equal to 1.0% of the gross proceeds raised in the Offering. The Company also agreed to issue the Placement Agent (or its designees) a warrant (the “Placement Agent Warrant”) to purchase up to 7.5% of the aggregate number of shares of Common Stock and/or Pre-Funded Warrants sold in the offering, In connection with the June 4, 2024 Purchase Agreement, the Company paid the Placement Agent a cash fee and management fee of $170,000 and the Placement Agent received Placement Agent Warrants to purchase up to 68,807 shares of Common Stock, at an exercise price equal to 125.0% of the offering price per share of Common Stock, or $2.725 per share. The Placement Agent Warrants are exercisable immediately upon issuance for a period of five years following the commencement of the sales pursuant to the Offering. In addition, the Company paid to pay the Placement Agent $25,000 for non-accountable expenses, $50,000 for legal expenses and other out-of-pocket expenses and $15,950 for clearing fees. The closing of the sales of these securities under the Purchase Agreement took place on June 6, 2024. The public offering price for each share of Common Stock was $2.18 for aggregate gross proceeds of $1,925,801, and public offering price for the Pre-Funded Warrants was $2.1799 for each Pre-Funded Warrant for aggregate gross proceeds of $74,201. In connection with this Offering, the Company raised aggregate gross proceeds of $2,000,002 and received net proceeds of $1,673,216, net of Underwriters discounts and offering costs of $260,950 and legal fees of $65,833. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. The per share exercise price for the Pre-Funded Warrants was $0.0001 and the Pre-Funded Warrants were exercisable immediately. The Underwriters immediately exercised the 34,037 Pre-Funded Warrants and the Underwriters received 34,037 shares of Common Stock for cash of $3. The Pre-Funded Warrants are not and will not be listed for trading on any national securities exchange or other nationally recognized trading system. The Common Warrants and the Common Warrant Shares were sold without registration under the Securities Act of 1933 (the “Securities Act”) in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act as transactions not involving a public offering and Rule 506 promulgated under the Securities Act as sales to accredited investors, and in reliance on similar exemptions under applicable state laws. Pursuant to the terms of the Purchase Agreement and subject to certain exceptions as set forth in the Purchase Agreement, from the date of the Purchase Agreement until fifteen (15) days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents. In addition, until the one year from the Closing Date, the Company is prohibited from entering into a Variable Rate Transaction (as defined in the Purchase Agreement), subject to certain limited exceptions. The Company has agreed to file a registration statement on Form S-3 (or other appropriate form if the Company is not then S-3 eligible) providing for the resale of the Common Warrant Shares (the “Resale Registration Statement”) within 45 calendar days of the date of the Purchase Agreement (the “Filing Date”), and to use commercially reasonable efforts to cause the Resale Registration Statement to be declared effective by the SEC within 60 calendar days following the date of the Filing Date and to keep the Resale Registration Statement effective at all times until the Holders no longer own any Common Warrants or Common Warrant Shares. Stock Repurchase Plan On January 26, 2023, the Company’s Board of Directors authorized a stock repurchase plan to repurchase up to $1 million of the Company’s issued and outstanding common stock, from time to time, with such plan to be in place until December 31, 2023. On January 9, 2024, the Board of Directors of the Company approved an extension of the previously announced stock repurchase program authorizing the purchase of up to $1 million of the Company’s common stock until March 31, 2024, on April 4, 2024, the Stock Repurchase Plan was extended to April 30. During the year ended December 31, 2023, the Company purchased 252,855 shares of common stock for a cost of $471,121, which is reflected in treasury stock on the accompanying unaudited consolidated balance sheet. During the six months ended June 30, 2024, the Company purchased 102,855 shares of common stock for a cost of $173,113. As of June 30, 2024, the Company has repurchased an aggregate of 355,710 shares of its common stock for a total cost of $644,234 pursuant to its Stock Repurchase Program. Stock Options On January 18, 2021, the Company’s board of directors (“Board”) approved the Silo Pharma, Inc. 2020 Omnibus Equity Incentive Plan (the “2020 Plan”) to incentivize employees, officers, directors and consultants of the Company and its affiliates. 170,000 shares of common stock are reserved and available for issuance under the 2020 Plan, provided that certain exempt awards (as defined in the 2020 Plan), shall not count against such share limit. The 2020 Plan provides for the grant, from time to time, at the discretion of the Board or a committee thereof, of cash, stock options, including incentive stock options and nonqualified stock options, restricted stock, dividend equivalents, restricted stock units, stock appreciation units and other stock or cash-based awards. The 2020 Plan shall terminate on the tenth anniversary of the date of adoption by the Board. Subject to certain restrictions, the Board may amend or terminate the Plan at any time and for any reason. An amendment of the 2020 Plan shall be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, rules or regulations. On March 10, 2021, the 2020 Plan was approved by the stockholders. On September 15, 2023, our Board of Directors adopted the Silo Pharma, Inc. Amended and Restated 2020 Omnibus Equity Incentive Plan which was approved by the Company’s stockholders on December 4, 2023. The Amended and Restated Omnibus Equity Incentive Plan (i) increases the number of shares of common stock that may be issued under such plan by 300,000 shares to 470,000 shares and (ii) includes clawback provisions to comply with recent developments of applicable law. During the six months ended June 30, 2024 and 2023, the Company amortized $0 and $8,474 of the deferred compensation which was recorded as compensation expense in the accompanying unaudited consolidated statement of operations and comprehensive loss, respectively. As of June 30, 2024 and December 31, 2023, there were no remaining deferred compensation costs. Stock option activities for the six months ended June 30, 2024 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2023 28,850 $ 7.28 5.31 $ 8,610 Expired (2,000 ) 0.005 - - Balance Outstanding, June 30, 2024 26,850 $ 7.82 5.19 $ 3,980 Exercisable, June 30, 2024 26,850 $ 7.82 5.19 $ 3,980 Stock Warrants As discussed above, on June 4, 2024, the Company Pre-Funded Warrants to purchase up to 34,037 shares of Common Stock of the Company, having an exercise price of $0.0001 per share, and a purchase price of $2.1799 per Pre-Funded Warrant, The per share exercise price for the Pre-Funded Warrants was $0.0001 and the Pre-Funded Warrants were exercisable immediately. The Underwriters immediately exercised the 34,037 Pre-Funded Warrants and the Underwriters received 34,037 shares of Common Stock for cash of $3. On June 4, 2024, concurrently with the sale of Common Stock and/or the Pre-Funded Warrants, pursuant to the Purchase Agreement in a private placement as discussed above, the Company issued an aggregate of 917,432 Common Warrants to the Investors. The Common Warrants have an exercise price of $2.06 per share and are exercisable immediately upon issuance for a five-year period. Additionally, the Placement Agent received Placement Agent Warrants to purchase up to 68,807 shares of Common Stock, at an exercise price equal to 125.0% of the offering price per share of Common Stock, or $2.725 per share. The Placement Agent Warrants are exercisable immediately upon issuance for a period of five years. Warrant activities for the six months ended June 30, 2024 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2023 404,580 $ 14.05 2.31 $ - Granted 1,020,276 2.04 - - Exercised (34,037 ) 0.0001 Balance Outstanding, June 30, 2024 1,390,819 $ 5.58 4.03 $ - Exercisable, June 30, 2024 1,390,819 $ 5.58 4.03 $ -	NOTE 6 – STOCKHOLDERS’ EQUITY Shares Authorized On December 4, 2023, stockholders of the Company approved a decrease to the number of authorized shares of the Company’s common stock from 500,000,000 shares to 100,000,000 shares. On December 4, 2023, the Company filed a Certificate of Amendment (the “Amendment”) to its Certificate of Incorporation with the Delaware Secretary of State to decrease its authorized shares of common stock from 500,000,000 shares to 100,000,000 shares. On December 19, 2023, the Company reincorporated as a Nevada corporation and filed Articles of Incorporation with the Nevada Secretary of State on such date. The Company has 105,000,000 shares authorized which consist of 100,000,000 shares of common stock and 5,000,000 shares of preferred stock. Series C Convertible Preferred Stock On February 9, 2021, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series C Convertible Preferred Stock (the “Certificate of Designations”) with the Delaware Secretary of State, designating 4,280 shares of preferred stock as Series C Convertible preferred stock. The Company had designated 4,280 shares of preferred stock as Series C Convertible preferred stock. Each share of Series C Convertible Preferred Stock had a par value of $0.0001 per share and a stated value of $1,000 (the “Series C Stated Value”). Each share of Series C Convertible preferred stock was convertible, at any time and from time to time after the issuance date, at the option of the holder, into such number of shares of common stock determined by dividing the Series C Stated Value by the Series C Conversion Price. “Series C Conversion Price” means $15.00, subject to adjustment in the event of stock split, stock dividends, subsequent right offerings and similar recapitalization transactions. Notwithstanding anything herein to the contrary, after the date that the Company’s stockholder approval is obtained and deemed effective, the Company may deliver a written notice to all holders (the “Forced Conversion Notice Date”) to cause each holder to convert all or part of such holder’s Series C Convertible preferred stock pursuant to Section 6 (“Forced Conversion”), it being agreed that the “Conversion Date” shall be deemed to occur no later than the earlier of (i) two (2) trading days and (ii) the number of trading days comprising the standard settlement period following the Forced Conversion Notice Date; provided, however, a holder shall only be required to convert pursuant to a Forced Conversion to the extent that such conversion would not cause a holder to exceed its beneficial ownership limitation. On March 31, 2022, the Company notified holders of the remaining 227 shares of its Series C Convertible preferred stock of its election to force the conversion to its Series C Convertible preferred stock into shares of the Company’s common stock (see below). As of December 31, 2022, there were no Conversion of Series C Convertible Preferred Stock into Common Stock On March 31, 2022, the Company notified holders of the remaining 227 shares of its Series C Convertible preferred stock of its election to force the conversion to its Series C Convertible preferred stock into shares of the Company’s common stock pursuant to the Certificate of Designations unless such conversion would cause the holder to exceed its beneficial ownership limitation pursuant to the Certificate of Designations. On March 31, 2022, the Company converted the remaining 227 Series C Convertible preferred stock into 15,167 shares of common stock. Sale of Common Stock On September 26, 2022, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Laidlaw & Company (UK) Ltd., as representative of the several underwriters identified therein (the “Underwriters”), relating to the public offering (the “Offering”) of 1,000,000 shares of the Company’s common stock (the “Firm Shares”), at public offering price of $5.00 per share. Under the terms of the Underwriting Agreement, the Company granted the Underwriters an option, exercisable for 45 days following the closing of the Offering, to purchase up to an additional 150,000 shares of common stock at the public offering price to cover over-allotments, if any. On September 28, 2022, the Underwriters fully exercised their over-allotment option and purchased an additional 150,000 shares (the “Option Shares,” together with the Firm Shares, the “Shares”). On September 29, 2022 the Company closed the Offering and issued the Shares for aggregate net proceeds of $4,940,948, after deducting underwriting discounts and commissions and offering expenses. The Company intends to use the net proceeds from the offering for research and development activities, sales and marketing, general working capital purposes, potential acquisitions of other companies, products or technologies, and to repay certain indebtedness. Concurrently with the closing of the Offering, the Company also issued warrants to purchase an aggregate of up to 57,500 shares of its common stock to the representative of the Underwriters or its designees, at an exercise price of $6.25 per share (the “Representative’s Warrants”). The Representative’s Warrants are exercisable beginning on March 25, 2023, and expire on September 26, 2027, pursuant to the terms and conditions of the Representative’s Warrants. Common Stock Issued for Services On August 29, 2022, the Company entered into a one-year consulting agreement with an entity for investor relations services. In connection with this consulting agreement, the Company issued 20,000 restricted common shares of the Company to the consultant. These shares vest immediately. These shares were valued at $135,100, or $6.755 per common share, based on contemporaneous common share sales by the Company. In connection with this consulting agreement, during the years ended December 31, 2023 and 2022, the Company recorded stock-based professional fees of $90,067 and $45,033, respectively. which was amortized into stock-based professional fees over the term of the agreement. Stock Repurchase Plan On January 26, 2023, the Company’s Board of Directors authorized a stock repurchase plan to repurchase up to $1.0 million of the Company’s issued and outstanding common stock, from time to time, with such plan to be in place until December 31, 2023. On January 9, 2024, the Board of Directors of the Company approved an extension of the previously announced stock repurchase program authorizing the purchase of up to $1 million of the Company’s common stock until March 31, 2024. Through December 31, 2023, the Company purchased 252,855 shares of common stock for a cost of $471,121, which is reflected in treasury stock on the accompanying consolidated balance sheet. Stock Options On January 18, 2021, the Company’s board of directors (“Board”) approved the Silo Pharma, Inc. 2020 Omnibus Equity Incentive Plan (the “2020 Plan”) to incentivize employees, officers, directors and consultants of the Company and its affiliates. 170,000 shares of common stock are reserved and available for issuance under the 2020 Plan, provided that certain exempt awards (as defined in the 2020 Plan), shall not count against such share limit. The 2020 Plan provides for the grant, from time to time, at the discretion of the Board or a committee thereof, of cash, stock options, including incentive stock options and nonqualified stock options, restricted stock, dividend equivalents, restricted stock units, stock appreciation units and other stock or cash-based awards. The 2020 Plan shall terminate on the tenth anniversary of the date of adoption by the Board. Subject to certain restrictions, the Board may amend or terminate the Plan at any time and for any reason. An amendment of the 2020 Plan shall be subject to the approval of the Company’s stockholders only to the extent required by applicable laws, rules or regulations. On March 10, 2021, the 2020 Plan was approved by the stockholders. On September 15, 2023, our Board of Directors adopted the Silo Pharma, Inc. Amended and Restated 2020 Omnibus Equity Incentive Plan which was approved by the Company’s stockholders on December 4, 2023. The Amended and Restated Omnibus Equity Incentive Plan (i) increases the number of shares of common stock that may be issued under such plan by 300,000 shares to 470,000 shares and (ii) includes clawback provisions to comply with recent developments of applicable law. On December 29, 2021 and effective January 1, 2022, the Board granted an aggregate of 6,849 incentive stock options under the 2020 Plan, to two non-employee board members, exercisable at $7.30 per share which expire on December 26, 2026 and vest on the first anniversary date of the grant date. These options were valued at $30,224 on the grant date using a Binomial Lattice option pricing model with the following assumptions: risk-free interest rate of 0.75%, expected dividend yield of 0%, expected term of 2 years using the simplified method and expected volatility of 115% based on historical volatility. The Company recorded the fair value of the unvested stock options, in the amount of $30,224, as deferred compensation which is being amortized over the vesting period. On January 27, 2022, pursuant to an Employment Agreement (see Note 8), an aggregate of 16,000 incentive stock options were issued under the 2020 Plan, to Dr. Kou, exercisable at $10.00 per share and expires on January 31, 2032. The stock options vest as follows: (i) 6,000 stock options upon issuance; (ii) 5,000 vests on October 31, 2022 and; (iii) 5,000 vests on October 31, 2023. The 16,000 stock options had a fair value of $94,915 which were valued at the grant date using a Binomial Lattice option pricing model with the following assumptions: risk-free interest rate of 1.18%, expected dividend yield of 0%, expected term of 2 years using the simplified method and expected volatility of 117% based on historical volatility. The Company recorded the fair value of the stock options, in the amount of $94,915, as deferred compensation which is being amortized over the vesting period. During the years ended December 31, 2023 and 2022, the Company amortized $14,125 and $111,014 of the deferred compensation which was recorded as compensation expenses in the accompanying consolidated statement of operations and comprehensive loss. As of December 31, 2023, there was no remaining deferred compensation related to these issuances. As of December 31, 2022, the deferred compensation related to these issuances had a balance of $14,125. Stock option activities for the years ended December 31, 2023 and 2022 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2021 12,849 $ 3.89 2.54 $ 42,870 Granted 16,000 10.0 - - Balance Outstanding, December 31, 2022 28,849 7.28 6.31 20,130 Granted - - - - Balance Outstanding, December 31, 2023 28,849 $ 7.28 5.31 $ 8,610 Exercisable, December 31, 2023 28,849 $ 7.28 5.31 $ 8,610 Stock Warrants On September 26, 2022, concurrently with the closing of the Offering as discussed above, the Company also issued warrants to purchase an aggregate of up to 57,500 shares of its common stock to the representative of the Underwriters or its designees, at an exercise price of $6.25 per share (the “Representative’s Warrants”). The Representative’s Warrants are exercisable beginning on March 25, 2023, and expire on September 26, 2027, pursuant to the terms and conditions of the Representative’s Warrants. Warrant activities for the years ended December 31, 2023 and 2022 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2021 347,080 $ 15.5 4.1 $ - Granted 57,500 6.25 5.0 - Balance Outstanding, December 31, 2022 404,580 14.05 3.3 - Granted - - - - Balance Outstanding, December 31, 2023 404,580 $ 14.05 2.3 $ - Exercisable, December 31, 2023 404,580 $ 14.05 2.3 $ -

Concentrations

Concentrations	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Concentrations [Abstract]
CONCENTRATIONS	NOTE 7 – CONCENTRATIONS Customer concentration For the six months ended June 30, 2024 and 2023, one licensee accounted for 100% total revenues from customer license fees. Vendor concentrations For the six months ended June 30, 2024, two licensors accounted for 100% of the Company’s vendor license agreements (see Note 8) related to the Company’s biopharmaceutical operations. For the six months ended June 30, 2023, one licensor accounted for 100% of the Company’s vendor license agreements (see Note 8) related to the Company’s biopharmaceutical operations.	NOTE 7 – CONCENTRATIONS Customer concentration For the years ended December 31, 2023 and 2022, one licensee accounted for 100% total revenues from customer license fees. Vendor concentrations For the years ended December 31, 2023 and 2022, one licensor accounted for 100% of the Company’s vendor license agreements (see below) related to the Company’s biopharmaceutical operations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES Employment Agreements Eric Weisblum On October 12, 2022, the Company entered into an employment agreement with Eric Weisblum (the “2022 Weisblum Employment Agreement”) pursuant to which Mr. Weisblum’s (i) base salary will be $350,000 per year, (ii) Mr. Weisblum was paid a one-time signing bonus of $100,000, and (iii) Mr. Weisblum shall be entitled to receive an annual bonus of up to $350,000, subject to the sole discretion of the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”), and upon the achievement of additional criteria established by the Compensation Committee from time to time (the “Annual Bonus”). In addition, pursuant to the 2022 Weisblum Employment Agreement, upon termination of Mr. Weisblum’s employment for death or Total Disability (as defined in the 2022 Weisblum Employment Agreement), in addition to any accrued but unpaid compensation and vacation pay through the date of his termination and any other benefits accrued to him under any Benefit Plans (as defined in the 2022 Weisblum Employment Agreement) outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such termination date (collectively, the “Weisblum Payments”), Mr. Weisblum shall also be entitled to the following severance benefits: (i) 24 months of his then base salary; (ii) if Mr. Weisblum elects continuation coverage for group health coverage pursuant to COBRA Rights (as defined in the 2022 Weisblum Employment Agreement), then for a period of 24 months following Mr. Weisblum’s termination he will be obligated to pay only the portion of the full COBRA Rights cost of the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective plan year; and (iii) payment on a pro-rated basis of any Annual Bonus or other payments earned in connection with any bonus plan to which Mr. Weisblum was a participant as of the date of his termination (together with the Weisblum Payments, the “Weisblum Severance”). Furthermore, pursuant to the 2022 Weisblum Employment Agreement, upon Mr. Weisblum’s termination (i) at his option (A) upon 90 days prior written notice to the Company or (B) for Good Reason (as defined in the 2022 Weisblum Employment Agreement), (ii) termination by the Company without Cause (as defined in the 2022 Weisblum Employment Agreement) or (iii) termination of Mr. Weisblum’s employment within 40 days of the consummation of a Change in Control Transaction (as defined in the Weisblum Employment Agreement), Mr. Weisblum shall receive the Weisblum Severance; provided, however, Mr. Weisblum shall be entitled to a pro-rated Annual Bonus of at least $200,000. In addition, any equity grants issued to Mr. Weisblum shall immediately vest upon termination of Mr. Weisblum’s employment by him for Good Reason or by the Company at its option upon 90 days prior written notice to Mr. Weisblum, without Cause. In September 2023 and October 2022, the Company paid a bonus of $200,000 and $100,000 to Mr. Weisblum, respectively. Daniel Ryweck On September 27, 2022, the Board appointed Daniel Ryweck as Chief Financial Officer of the Company. On September 28, 2022, the Company entered into an employment agreement (the “Ryweck Employment Agreement”) with Mr. Ryweck. Pursuant to the terms of the Ryweck Employment Agreement, which was amended on October 12, 2022, Mr. Ryweck will (i) receive a base salary at an annual rate of $60,000 (the “Base Compensation”) payable in equal monthly installments, and (ii) be eligible to receive an annual discretionary bonus. The term of Mr. Ryweck’s engagement under the Ryweck Employment Agreement commenced on September 28, 2022 and continued until September 28, 2023, unless earlier terminated in accordance with the terms of the Ryweck Employment Agreement. The term of Mr. Ryweck’s Employment Agreement was automatically renewed until September 28, 2024 and will automatically renew for successive one-year periods until terminated by Mr. Ryweck or the Company. Dr. James Kuo On January 27, 2022, the Company and Dr. James Kuo entered into an employment agreement (“Kuo Employment Agreement”) for Dr. Kuo to serve as the Vice President of Research & Development. The Kuo Employment Agreement shall be effective as of the date of the agreement and shall automatically renew for a period of one year at every anniversary of the effective date, with the same terms and conditions, unless either party provides written notice of its intention not to extend the term of the Kuo Employment Agreement at least thirty days prior to the applicable renewal date. Dr. Kuo shall be paid an annual base salary of $30,000. For each twelve-month period of his employment, Dr. Kuo shall be entitled to a bonus whereby amount and terms shall be in the sole and absolute discretion of the Board of Directors (“Board”) and shall be payable at the Company’s sole option in stock or in cash. In addition, an aggregate of 16,000 incentive stock options were granted under the 2020 Plan to Dr. Kou, exercisable at $10.00 per share and expires on January 31, 2032. The stock options vested as follows: (i) 6,000 stock options upon issuance; (ii) 5,000 vested on October 31, 2022 and; (iii) 5,000 vested on October 31, 2023. The 16,000 stock options had a fair value of $94,915 which valued at grant date using Binomial Lattice option pricing model with the following assumptions: risk-free interest rate of 1.18%, expected dividend yield of 0%, expected term of 2 years using the simplified method and expected volatility of 117% based on calculated volatility. The Company recorded the fair value of the stock options, in the amount of $94,915, as deferred compensation which is being amortized over the vesting period. During the six months ended June 30, 2024 and 2023, the Company amortized $0 and $8,474 of the deferred compensation which was recorded as compensation expenses in the unaudited consolidated statement of operations and comprehensive loss, respectively. As of June 30, 2024 and December 31, 2023, there was no remaining deferred compensation related to these issuances. (see Note 6). License Agreements between the Company and Vendors University of Maryland, Baltimore - License Agreement for Development and Use of Central Nervous System-Homing Peptides Commercial Evaluation License and Option Agreement with the University of Maryland, Baltimore Effective as of July 15, 2020, the Company, through its wholly-owned subsidiary, Silo Pharma, Inc. (see Note 1) and University of Maryland, Baltimore (“UMB”) (collectively as “Parties”), entered into a commercial evaluation license and option agreement (“License Agreement”), granting the Company an exclusive, non-sublicensable, non-transferable license to with respect to the exploration of the potential use of central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology. The License Agreement also granted the Company an exclusive option to negotiate and obtain an exclusive, sublicensable, royalty-bearing license (“Exclusive Option”) with respect to the subject technology. The License Agreement had a term of six months from the effective date however if the Company exercises the Exclusive Option, the License Agreement shall expire at the end of the negotiation period (as defined in the License Agreement) or upon execution of a master license agreement, whichever occurs first. The Company exercised its Exclusive Option on January 13, 2021 and entered into a Master License Agreement on February 12, 2021. Both parties may terminate this agreement within thirty days by giving written notice. University of Maryland, Baltimore - License Agreement for Development and Use of Joint-Homing Peptides Commercial Evaluation License and Option Agreement with the University of Maryland, Baltimore Effective as of February 26, 2021, the Company, through its wholly-subsidiary, Silo Pharma, Inc., and University of Maryland, Baltimore (“UMB”) (collectively as “Parties”), entered into a commercial evaluation license and option agreement (“License Agreement”), which granted the Company an exclusive, non-sublicensable, non-transferable license with respect to the exploration of the potential use of joint-homing peptides for use in the investigation and treatment of arthritogenic processes. The License Agreement also granted the Company an exclusive option to negotiate and obtain an exclusive, sublicensable, royalty-bearing license (“Exclusive Option”) with respect to the subject technology. On July 6, 2021, the Company entered into a First Amendment Agreement (“First Amendment”) with UMB to extend the term of the original License Agreement by an additional six months such that the First Amendment was effective until February 25, 2022. On January 28, 2022, the Parties entered into a second amendment to the License Agreement to extend the term of the original license agreement until December 31, 2022. On June 22, 2022, the Parties entered into a third amendment to the License Agreement (“Third Amendment”). The Third Amendment expanded the scope of the license granted in the License Agreement to add additional patent rights with respect to an invention generally known as Peptide-Targeted Liposomal Delivery for Treatment Diagnosis, and Imaging of Diseases and Disorders Master License Agreement with the University of Maryland, Baltimore As disclosed above, effective as of February 12, 2021, the Company and University of Maryland, Baltimore (“UMB”), entered into the Master License Agreement (“Master License Agreement”) which grants the Company an exclusive, worldwide, sublicensable, royalty-bearing license to certain intellectual property: (i) to make, have made, use, sell, offer to sell, and import certain licensed products and: (ii) to use the invention titled, “Central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology” and UMB’s confidential information to develop and perform certain licensed processes for the therapeutic treatment of neuroinflammatory disease. The Master License Agreement will remain in effect on a Licensed Product-by-Licensed Product basis and country-by-country basis until the later of: (a) the last patent covered under the Master License Agreement expires, (b) the expiration of data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity, or other legally enforceable market exclusivity, if applicable, or (c) 10 years after the first commercial sale of a Licensed Product in that country, unless earlier terminated in accordance with the provisions of the Master License Agreement. The term of the Master License Agreement shall expire 15 years after the Master License Agreement Effective Date in which (a) there were never any patent rights, (b) there was never any data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity, or other legally enforceable market exclusivity or (c) there was never a first commercial sale of a Licensed Product. The Company may assign, sublicense, grant, or otherwise convey any rights or obligations under the Master License Agreement to a Company affiliate, without obtaining prior written consent from UMB provided that it meets the terms defined in the Master License Agreement. The Company may grant sublicenses of some or all of the rights granted by the Master License Agreement, provided that there is no uncured default or breach of any material term or condition under the Master License Agreement, by Company, at the time of the grant, and that the grant complies with the terms and conditions of the Master License Agreement. The Company shall be and shall remain responsible for the performance by each of the Company’s sublicensee. Any sublicense shall be consistent with and subject to the terms and conditions of the Master License Agreement and shall incorporate terms and conditions sufficient to enable Company to comply with the Master License Agreement. The Company or Company affiliates shall pay to UMB a percentage of all income received from its sublicensee as follows: (i) 25% of the Company’s sublicense income which is receivable with respect to any sublicense that is executed before the filing of an NDA (or foreign equivalent) for the first licensed product; and (b) 15% of the Company’s sublicense income which is receivable with respect to any sublicense that is executed after the filing of an NDA (or foreign equivalent) for the first licensed product. Pursuant to the Master License Agreement, the Company shall pay UMB; (i) a license fee, (ii) certain event-based milestone payments (see below for payment terms), (iii) royalty payments depending on net revenues (see below for payment terms), and (iv) a tiered percentage of sublicense income. The Company paid to UMB a license fee of $75,000, which was paid as follows: (a) $25,000 was due and paid within 30 days following the effective date; and (b) $50,000 was paid in February 2022. The license fee is non-refundable and is not creditable against any other fee, royalty or payment. The Company shall be responsible for payment of all patent expenses in connection with preparing, filing, prosecution and maintenance of patents or patent applications relating to the patent rights. The $75,000 license fee was recorded as a prepaid expense and is being amortized over the 15-year term. During the six months ended June 30, 2024 and 2023, the Company recognized license fees of $2,500 and $2,500, respectively, from the amortization of prepaid license fees, which is included in costs of revenues on the accompanying unaudited consolidated statements of operations. On June 30, 2024, prepaid expense and other current assets – current amounted to $5,000 and prepaid expense – non-current amounted to $53,125. On December 31, 2023, prepaid expense and other current assets – current amounted to $5,000 and prepaid expense – non-current amounted to $55,625 as reflected in the unaudited consolidated balance sheets. Milestone Payment Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product $ 50,000 Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product $ 100,000 Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product $ 250,000 Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product $ 500,000 Achievement of First Commercial Sale of Licensed Product $ 1,000,000 Royalty Payments Terms (i) 3% on sales of licensed products (as defined in the Master License Agreement) during the applicable calendar year for sales less than $50,000,000; and (ii) 5% on sales of licensed products during the applicable calendar year for sales greater than $50,000,000; and (iii) minimum annual royalty payments, as follows: Years Minimum Prior to First Commercial Sale $ N/A Year of First Commercial Sale $ N/A First calendar year following the First Commercial Sale $ 25,000 Second calendar year following the First Commercial Sale $ 25,000 Third calendar year following the First Commercial Sale $ 100,000 On November 10, 2023, the Company entered into a Third Amendment to Master License Agreement (the “Third Amendment”) with UMB, pursuant to which the parties agreed to an amended and restated schedule of diligence milestones for the Master License Agreement. In April 2021, in connection with the Company’s Sublicense Agreement with Aikido Pharma Inc. (see below - Patent License Agreement with Aikido Pharma Inc. Exclusive License Agreement with the Trustees of Columbia University in the City of New York On July 1, 2024 (, the Company entered into an exclusive license agreement (the “Columbia License Agreement”) with Columbia University (“Columbia”) with an effective date of June 28, 2024 (the “Effective Date”) and pursuant to which the Company has been granted exclusive rights to certain patents and technical information to develop, manufacture and commercialize Products (as defined in the Columbia License Agreement), including therapies for stress-induced affective disorders and other conditions. The term of the Columbia License Agreement shall commence on the Effective Date and shall continue on a country-by-country and product-by-product basis until the latest of: (a) the date of expiration of the last to expire of the issued Patents (as defined in the Columbia License Agreement), (b) 20 years after the first bona fide commercial sale of the Product in the country in question, or (c) expiration of any market exclusivity period granted by a regulatory agency for a Product in the country in question. Pursuant to the Columbia License Agreement, the Company agreed to pay Columbia: (i) an initial license fee of $50,000 due on the Effective Date and included in accounts payable on the accompanying unaudited consolidated balance sheet as of June 30, 2024. (ii) an annual license fee of $25,000 payable on the 1st and 2nd anniversary of the Effective Date and an annual license fee of $50,000 payable on the third and subsequent anniversary of the Effective Date. (iii) Royalties as follows: (A) Concerning sales of Products by the Company, its Designees, or their Affiliates in the Territory, a non-refundable and non-recoverable royalty of the following on a country-by-country and Product-by-Product basis: (1) 4% of Net Sales of Patent Products; and (2) 2% of Net Sales of Technology Products. (B) No later than 30 days following the second (2nd) anniversary of the first bona fide commercial sale of a Product by the Company, a Sublicensee, a Designee, or any of their Affiliates to a Third-Party customer, and the first business day of each January after that, the Company shall pay Columbia a non-refundable and non-recoverable minimum royalty payment in the amount of $500,000. The Company may credit each minimum royalty payment against earned royalties accrued during the same calendar year in which the minimum royalty payment is due and payable. To the extent minimum royalty payments exceed the earned royalties accrued during the same calendar year, the Company may not carry over this excess amount to any other year, either to decrease the earned royalties due in that year or to decrease the minimum royalty payments due in that year; and (iv) Trigger Event Fee: The Company shall pay Columbia a Trigger Event Fee within 30 days after the Initial Date or, if later, within 10 days following the date upon which the Trigger Event Fee. A Trigger Event means any Assignment of the Columbia License Agreement or Change of Control and a Trigger Event Fee shall mean an additional cash license fee equal to 5% of the Business Valuation, as defined in the agreement. (v) The Company shall reimburse Columbia for patent expenses as follows: (i) The Company shall reimburse Columbia for the actual fees, costs, and expenses Columbia has incurred before, on, and after the Effective Date in preparing, filing, prosecuting, and maintaining the Patents (and those patents and patent applications to which Patents claim priority) (collectively “Patent Expenses”). Patent Expenses include, without limitation, legal fees, the costs of any interference proceedings, oppositions, re-examinations, or any other ex parte or inter partes administrative proceeding before patent offices, taxes, annuities, issue fees, working fees, maintenance fees, and renewal charges, plus a five percent processing fee. (ii) Unreimbursed Patent Expenses that Columbia incurred for legal activities occurring before September 30, 2021 are “Past Patent Expenses .” (iii) Columbia, using reasonable efforts, estimates that unreimbursed Patent Expenses for legal activities occurring before September 30, 2021 are $197,400 (“Estimated Past Patent Expenses”). The Company shall reimburse Columbia in full no later than thirty (30) days after the Effective Date. On June 28, 2024, the Company considered the Estimated Past Patents Expenses due of $197,400 as part of the cost of entering into the Columbia License Agreement license and accordingly, increased intangible assets and accounts payable by $197,400. (iv) The Company will pay any additional unreimbursed Past Patent Expenses within thirty (30) days after receiving an invoice from Columbia for the additional Past Patent Expenses. (v) The Company will reimburse Columbia for unreimbursed Patent Expenses incurred by Columbia after the Past Patent Expenses (“Ongoing Patent Expenses”) no later than thirty (30) days after receiving Columbia’s invoice. (vi) At Columbia’s election, Columbia may require advance payment of a reasonable estimate of Ongoing Patent Expenses (“Estimated Ongoing Patent Expenses”). Columbia shall give at least thirty (30) days’ notice to the Company before the date the advance payment is due, which payment Columbia may make due up to three months before the date Columbia has chosen for the legal work to be completed. Columbia may credit any unused balance towards future Patent Expenses, or upon the Company’s written request, Columbia shall return the unused balance to the Company. No later than thirty (30) days after receiving an invoice from Columbia for any Patent Expenses incurred over the reasonable estimate, the Company shall reimburse Columbia for the excess amount. License Agreements between the Company and Customer Customer Patent License Agreement with Aikido Pharma Inc. On January 5, 2021, the Company and its subsidiary Silo Pharma, Inc., entered into a patent license agreement (“License Agreement”) (collectively, the “Licensor”) with Aikido Pharma Inc. (“Aikido” or the “Customer”), as amended on April 12, 2021, pursuant to which the Licensor granted Aikido an exclusive, worldwide (“Territory”), sublicensable, royalty-bearing license to certain intellectual property: (i) to make, have made, use, provide, import, export, lease, distribute, sell, offer for sale, develop and advertise certain licensed products and (ii) to develop and perform certain licensed processes for the treatment of cancer and symptoms caused by cancer (“Field of Use”). The License Agreement also provided that, if the Licensor exercised the option granted to it pursuant to its commercial evaluation license and option agreement with UMB, effective as of July 15, 2020, it would grant Aikido a non-exclusive sublicense (“Right”) to certain UMB patent rights in the field of neuroinflammatory diseases occurring in patients diagnosed with cancer (“Field”). Pursuant to the License Agreement, Aikido agreed to pay the Licensor, among other things, (i) a one-time non-refundable cash payment of $500,000 and (ii) royalty payments equal to 2% of net sales (as defined in the License Agreement) in the Field of Use in the Territory. In addition, Aikido agreed to issue the Licensor 500 shares of Aikido’s newly designated Series M Convertible Preferred Stock which were to be converted into an aggregate of 625,000 shares of Aikido’s common stock. On April 12, 2021, the Company entered into an amendment to the License Agreement (“Amended License Agreement”) with Aikido dated January 5, 2021 whereby Aikido issued an aggregate of 625,000 restricted shares of Aikido’s common stock instead of the 500 shares of the Series M Convertible Preferred Stock. Pursuant to the License Agreement, the Company is required to prepare, file, prosecute, and maintain the licensed patents. Unless earlier terminated, the term of the license to the licensed patents will continue until the expiration or abandonment of all issued patents and filed patent applications within the licensed patents. The Company may terminate the License Agreement upon 30 day written notice if Aikido fails to pay any amounts due and payable to the Company or if Aikido or any of its affiliates brings a patent challenge against the Company, assists others in bringing a legal or administrative challenge to the validity, scope, or enforceability of or opposes any of the licensed patents (“Patent Challenge”) against the Company (except as required under a court order or subpoena). Aikido may terminate the Agreement at any time without cause, and without incurring any additional penalty, (i) by providing at least 30 days’ prior written notice and paying the Company all amounts due to it through such termination effective date. Either party may terminate the Agreement for material breaches that have failed to be cured within 60 days after receiving written notice. The Company collected the non-refundable cash payment of $500,000 on January 5, 2021 which was recorded as deferred revenue to be recognized as revenues over 15 years, the estimated term of the UMB Master License Agreement. Prior to the April 12, 2021, issuance of the common stock in lieu of the Series M Convertible Preferred Stock as discussed above, the Company valued the 500 Series M Convertible Preferred stock which was equivalent into Aikido’s 625,000 shares of common stock at a fair value of $0.85 per common share or $531,250 based quoted trading price of Aikido’s common stock on the date of grant. The Company recorded an equity investment of $531,250 (see Note 3) and deferred revenue of $531,250 to be recognized as revenues over the estimated term of the UMB Master License. Accordingly, the Company recorded a total deferred revenue of $1,031,250 ($500,000 cash received and $531,250 value of equity securities received) to be recognized as revenues over the 15-year term. During the six months ended June 30, 2024 and 2023, the Company recognized license fee revenues of $34,375 and $34,375, respectively. On June 30, 2024, deferred revenue – current portion amounted to $68,750 and deferred revenue – long-term portion amounted to $721,875. On December 31, 2023, deferred revenue – current portion amounted to $68,750 and deferred revenue – long-term portion amounted to $756,250 as reflected in the unaudited consolidated balance sheets. The Right shall be, to the full extent permitted by and on terms and conditions required by UMB, for a term consistent with the term of patent and technology licenses that UMB normally grants. In the event that the Company exercises its option and executes a license with UMB to the UMB patent rights within 40 days after the execution of such UMB license, for consideration to be agreed upon and paid by Aikido, which consideration shall in no event exceed 110% of any fee payable by the Company to UMB for the right to sublicense the UMB patent rights. The Company shall grant Aikido a nonexclusive sublicense in the United States to the UMB patent rights in the Field, subject to the terms of any UMB license Licensor obtains, including any royalty obligations on sublicensees required under any such sublicense. The option was exercised on January 13, 2021. Accordingly, on April 6, 2021, the Company entered into the Sublicense Agreement with Aikido pursuant to which it granted Aikido a worldwide exclusive sublicense to its licensed patents under the Master License Agreement. Customer Sublicense Agreement with Aikido Pharma Inc. On April 6, 2021 (the “Sublicense Agreement Effective Date”), the Company entered into the Sublicense Agreement with Aikido pursuant to which the Company granted Aikido an exclusive worldwide sublicense to (i) make, have made, use, sell, offer to sell and import the Licensed Products (as defined below) and (ii) in connection therewith to (A) use an invention known as “Central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology” which was sublicensed to the Company pursuant to the Master License Agreement and (B) practice certain patent rights (“Patent Rights”) for the therapeutic treatment of neuroinflammatory disease in cancer patients. “Licensed Products” means any product, service, or process, the development, making, use, offer for sale, sale, importation, or providing of which: (i) is covered by one or more claims of the Patent Rights; or (ii) contains, comprises, utilizes, incorporates, or is derived from the Invention or any technology disclosed in the Patent Rights. Pursuant to the Sublicense Agreement, Aikido agreed to pay the Company (i) an upfront license fee of $50,000, (ii) the same sales-based royalty payments that the Company is subject to under the Master License Agreement and (iii) total milestone payments of up to $1.9 million. The Sublicense Agreement shall continue on a Licensed Product-by-Licensed Product and country-by-country basis until the later of (i) the date of expiration of the last to expire claim of the Patent Rights covering such Licensed Product in such country, (ii) the expiration of data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity or other legally enforceable market exclusivity, if applicable and (iii) 10 years after the first commercial sale of a Licensed Product in that country, unless terminated earlier pursuant to the terms of the Sublicense Agreement. Furthermore, the Sublicense Agreement shall expire 15 years after the Sublicense Agreement Effective Date with respect to any country in which (i) there were never any Patent Rights, (ii) there was never any data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity or other legally enforceable market exclusivity with respect to a Licensed Product and (ii) there was never a commercial sale of a Licensed Product, unless such agreement is earlier terminated pursuant to its terms. The Company collected the upfront license fee of $50,000 in April 2021. During the six months ended June 30, 2024 and 2023, the Company recognized revenue of $1,676 and $1,676, respectively. On June 30, 2024, deferred revenue – current portion amounted to $3,352 and deferred revenue – long-term portion amounted to $35,754, and on December 31, 2023, deferred revenue – current portion amounted to $3,352 and deferred revenue – long-term portion amounted to $37,430 as reflected in the unaudited consolidated balance sheets. Sponsored Study and Research Agreements between the Company and Vendors Investigator-Sponsored Study Agreement with University of Maryland, Baltimore On January 5, 2021, the Company entered into an investigator-sponsored study agreement (“Sponsored Study Agreement”) with the University of Maryland, Baltimore. The research project is a clinical study to examine a novel peptide-guided drug delivery approach for the treatment of multiple sclerosis (“MS”). More specifically, the study is designed to evaluate (1) whether MS-1-displaying liposomes can effectively deliver dexamethasone to the CNS and (2) whether MS-1-displaying liposomes are superior to plain liposomes, also known as free drug, in inhibiting the relapses and progression of experimental autoimmune encephalomyelitis. Pursuant to the Sponsored Study Agreement, the research shall commence on March 1, 2021 and will continue until substantial completion, subject to renewal upon mutual written consent of the parties. The total cost under the Sponsored Study Agreement shall not exceed $81,474 which was payable in two equal installments of $40,737 upon execution of the Sponsored Study Agreement and $40,737 upon completion of the project with an estimated project timeline of nine months. In 2021, the Company paid $40,737 and recorded research and development expense of $40,737. This project has been postponed until further notice and the second payment is not due. Sponsored Research Agreement with The Regents of the University of California On June 1, 2021 (the “Effective Date”), the Company entered into a sponsored research agreement (the “Sponsored Research Agreement”) with The Regents of the University of California, on behalf of its San Francisco Campus (“UCSF”) pursuant to which UCSF shall conduct a study to examine psilocybin’s effect on inflammatory activity in humans to accelerate its implementation as a potential treatment for Parkinson’s Disease, chronic pain, and bipolar disorder. Pursuant to the Agreement, the Company shall pay UCSF a total fee of $342,850 to conduct the research over the two-year period. The Agreement was effective for a period of two years from the Effective Date, subject to renewal or earlier termination as set forth in the Sponsored Research Agreement. During the years ended December 31, 2022 and 2021, pursuant to the Sponsored Research Agreement, the Company paid to UCSF $181,710 and $100,570, respectively, which were recorded to prepaid expense and other current assets – current to be amortized over the two-year period. Dur	NOTE 8 – COMMITMENTS AND CONTINGENCIES Employment Agreements Eric Weisblum On April 17, 2020, the Company entered into an employment agreement (“Employment Agreement”) with Eric Weisblum to serve as Chief Executive Officer and Chief Financial Officer of the Company. The term of the Employment Agreement continued for a period of one year from the date of execution date thereof and automatically renewed for successive one-year periods at the end of each term until either party delivers written notice of their intent not to renew at least six months prior to the expiration of the then effective term. The Employment Agreement provided for a base salary of $120,000 and 152,619 vested shares of the Company’s common stock in April 2020. On January 18, 2021, the Company and Mr. Weisblum entered into the first amendment (the “Amendment”) to the Employment Agreement, effective as of January 1, 2021. Pursuant to the Amendment Mr. Weisblum’s base salary was increased from $120,000 per year to $180,000 per year and all the terms and provisions of the Employment Agreement remained in full force and effect. On October 12, 2022, the Company entered into a new employment agreement with Eric Weisblum (the “2022 Weisblum Employment Agreement”) pursuant to which Mr. Weisblum’s (i) base salary will be $350,000 per year, (ii) Mr. Weisblum was paid a one-time signing bonus of $100,000, and (iii) Mr. Weisblum shall be entitled to receive an annual bonus of up to $350,000, subject to the sole discretion of the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”), and upon the achievement of additional criteria established by the Compensation Committee from time to time (the “Annual Bonus”). In addition, pursuant to the 2022 Weisblum Employment Agreement, upon termination of Mr. Weisblum’s employment for death or Total Disability (as defined in the 2022 Weisblum Employment Agreement), in addition to any accrued but unpaid compensation and vacation pay through the date of his termination and any other benefits accrued to him under any Benefit Plans (as defined in the 2022 Weisblum Employment Agreement) outstanding at such time and the reimbursement of documented, unreimbursed expenses incurred prior to such termination date (collectively, the “Weisblum Payments”), Mr. Weisblum shall also be entitled to the following severance benefits: (i) 24 months of his then base salary; (ii) if Mr. Weisblum elects continuation coverage for group health coverage pursuant to COBRA Rights (as defined in the 2022 Weisblum Employment Agreement), then for a period of 24 months following Mr. Weisblum’s termination he will be obligated to pay only the portion of the full COBRA Rights cost of the coverage equal to an active employee’s share of premiums (if any) for coverage for the respective plan year; and (iii) payment on a pro-rated basis of any Annual Bonus or other payments earned in connection with any bonus plan to which Mr. Weisblum was a participant as of the date of his termination (together with the Weisblum Payments, the “Weisblum Severance”). Furthermore, pursuant to the 2022 Weisblum Employment Agreement, upon Mr. Weisblum’s termination (i) at his option (A) upon 90 days prior written notice to the Company or (B) for Good Reason (as defined in the 2022 Weisblum Employment Agreement), (ii) termination by the Company without Cause (as defined in the 2022 Weisblum Employment Agreement) or (iii) termination of Mr. Weisblum’s employment within 40 days of the consummation of a Change in Control Transaction (as defined in the Weisblum Employment Agreement), Mr. Weisblum shall receive the Weisblum Severance; provided, however, Mr. Weisblum shall be entitled to a pro-rated Annual Bonus of at least $200,000. In addition, any equity grants issued to Mr. Weisblum shall immediately vest upon termination of Mr. Weisblum’s employment by him for Good Reason or by the Company at its option upon 90 days prior written notice to Mr. Weisblum, without Cause. In September 2023 and October 2022, the Company paid a bonus of $200,000 and $100,000 to Mr. Weisblum, respectively. Daniel Ryweck On September 27, 2022, the Board appointed Daniel Ryweck as Chief Financial Officer of the Company. On September 28, 2022, the Company entered into an employment agreement (the “Ryweck Employment Agreement”) with Mr. Ryweck. Pursuant to the terms of the Ryweck Employment Agreement, which was amended on October 12, 2022, Mr. Ryweck will (i) receive a base salary at an annual rate of $60,000 (the “Base Compensation”) payable in equal monthly installments, and (ii) be eligible to receive an annual discretionary bonus. The term of Mr. Ryweck’s engagement under the Ryweck Employment Agreement commenced on September 28, 2022 and continues until September 28, 2023, unless earlier terminated in accordance with the terms of the Ryweck Employment Agreement. The term of Mr. Ryweck’s Employment Agreement is automatically renewed for successive one-year periods until terminated by Mr. Ryweck or the Company. Dr. James Kuo On January 27, 2022, the Company and Dr. James Kuo entered into an employment agreement (“Kuo Employment Agreement”) for Dr. Kuo to serve as the Vice President of Research & Development. The Kuo Employment Agreement shall be effective as of the date of the agreement and shall automatically renew for a period of one year at every anniversary of the effective date, with the same terms and conditions, unless either party provides written notice of its intention not to extend the term of the Kuo Employment Agreement at least thirty days prior to the applicable renewal date. Dr. Kuo shall be paid an annual base salary of $30,000. For each twelve-month period of his employment, Dr. Kuo shall be entitled to a bonus whereby amount and terms shall be in the sole and absolute discretion of the Board of Directors (“Board”) and shall be payable at the Company’s sole option in stock or in cash. In addition, an aggregate of 16,000 incentive stock options were granted under the 2020 Plan to Dr. Kou, exercisable at $10.00 per share and expires on January 31, 2032. The stock options vest as follows: (i) 6,000 stock options upon issuance; (ii) 5,000 vests on October 31, 2022 and; (iii) 5,000 vests on October 31, 2023. The 16,000 stock options had a fair value of $94,915 which valued at grant date using Binomial Lattice option pricing model with the following assumptions: risk-free interest rate of 1.18%, expected dividend yield of 0%, expected term of 2 years using the simplified method and expected volatility of 117% based on calculated volatility. The Company recorded the fair value of the stock options, in the amount of $94,915, as deferred compensation which is being amortized over the vesting period. During the years ended December 31, 2023 and 2022, the Company amortized $14,125 and $80,790 of the deferred compensation which was recorded as compensation expenses in the consolidated statement of operations and comprehensive loss, respectively. As of December 31, 2023 and 2022, the deferred compensation had a balance of $0 and $14,125, respectively (see Note 6). License Agreements between the Company and Vendors University of Maryland, Baltimore - License Agreement for Development and Use of Central Nervous System-Homing Peptides Commercial Evaluation License and Option Agreement with the University of Maryland, Baltimore Effective as of July 15, 2020, the Company, through its wholly-owned subsidiary, Silo Pharma, Inc. (see Note 1) and University of Maryland, Baltimore (“UMB”) (collectively as “Parties”), entered into a commercial evaluation license and option agreement (“License Agreement”), granting the Company an exclusive, non-sublicensable, non-transferable license to with respect to the exploration of the potential use of central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology. The License Agreement also granted the Company an exclusive option to negotiate and obtain an exclusive, sublicensable, royalty-bearing license (“Exclusive Option”) with respect to the subject technology. The License Agreement had a term of six months from the effective date however if the Company exercises the Exclusive Option, the License Agreement shall expire at the end of the negotiation period (as defined in the License Agreement) or upon execution of a master license agreement, whichever occurs first. The Company exercised its Exclusive Option on January 13, 2021 and entered into a Master License Agreement on February 12, 2021. Both parties may terminate this agreement within thirty days by giving written notice. University of Maryland, Baltimore - License Agreement for Development and Use of Joint-Homing Peptides Commercial Evaluation License and Option Agreement with the University of Maryland, Baltimore Effective as of February 26, 2021, the Company, through its wholly-subsidiary, Silo Pharma, Inc., and University of Maryland, Baltimore (“UMB”) (collectively as “Parties”), entered into a commercial evaluation license and option agreement (“License Agreement”), which granted the Company an exclusive, non-sublicensable, non-transferable license with respect to the exploration of the potential use of joint-homing peptides for use in the investigation and treatment of arthritogenic processes. The License Agreement also granted the Company an exclusive option to negotiate and obtain an exclusive, sublicensable, royalty-bearing license (“Exclusive Option”) with respect to the subject technology. On July 6, 2021, the Company entered into a First Amendment Agreement (“First Amendment”) with UMB to extend the term of the original License Agreement by an additional six months such that the First Amendment was effective until February 25, 2022. On January 28, 2022, the Parties entered into a second amendment to the commercial evaluation and license agreement dated February 26, 2021 (“Second Amendment”) to extend the term of the original license agreement until December 31, 2022. On June 22, 2022, the Parties entered into a third amendment to the commercial evaluation and license agreement dated February 26, 2021 (“Third Amendment”). The Third Amendment expanded the scope of the license granted in the License Agreement to add additional patent rights with respect to an invention generally known as Peptide-Targeted Liposomal Delivery for Treatment Diagnosis, and Imaging of Diseases and Disorders Master License Agreement with the University of Maryland, Baltimore As disclosed above, effective as of February 12, 2021, the Company and University of Maryland, Baltimore (“UMB”), entered into the Master License Agreement (“Master License Agreement”) which grants the Company an exclusive, worldwide, sublicensable, royalty-bearing license to certain intellectual property: (i) to make, have made, use, sell, offer to sell, and import certain licensed products and: (ii) to use the invention titled, “Central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology” and UMB’s confidential information to develop and perform certain licensed processes for the therapeutic treatment of neuroinflammatory disease. The Master License Agreement will remain in effect on a Licensed Product-by-Licensed Product basis and country-by-country basis until the later of: (a) the last patent covered under the Master License Agreement expires, (b) the expiration of data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity, or other legally enforceable market exclusivity, if applicable, or (c) 10 years after the first commercial sale of a Licensed Product in that country, unless earlier terminated in accordance with the provisions of the Master License Agreement. The term of the Master License Agreement shall expire 15 years after the Master License Agreement Effective Date in which (a) there were never any patent rights, (b) there was never any data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity, or other legally enforceable market exclusivity or (c) there was never a first commercial sale of a Licensed Product. The Company may assign, sublicense, grant, or otherwise convey any rights or obligations under the Master License Agreement to a Company affiliate, without obtaining prior written consent from UMB provided that it meets the terms defined in the Master License Agreement. The Company may grant sublicenses of some or all of the rights granted by the Master License Agreement, provided that there is no uncured default or breach of any material term or condition under the Master License Agreement, by Company, at the time of the grant, and that the grant complies with the terms and conditions of the Master License Agreement. The Company shall be and shall remain responsible for the performance by each of the Company’s sublicensee. Any sublicense shall be consistent with and subject to the terms and conditions of the Master License Agreement and shall incorporate terms and conditions sufficient to enable Company to comply with the Master License Agreement. The Company or Company affiliates shall pay to UMB a percentage of all income received from its sublicensee as follows: (i) 25% of the Company’s sublicense income which is receivable with respect to any sublicense that is executed before the filing of an NDA (or foreign equivalent) for the first licensed product; and (b) 15% of the Company’s sublicense income which is receivable with respect to any sublicense that is executed after the filing of an NDA (or foreign equivalent) for the first licensed product. Pursuant to the Master License Agreement, the Company shall pay UMB; (i) a license fee, (ii) certain event-based milestone payments (see below for payment terms), (iii) royalty payments depending on net revenues (see below for payment terms), and (iv) a tiered percentage of sublicense income. The Company paid to UMB a license fee of $75,000, payable as follows: (a) $25,000 was due and paid within 30 days following the effective date; and (b) $50,000 on or before the first anniversary of the effective date, which was paid in February 2022. The license fee is non-refundable and is not creditable against any other fee, royalty or payment. The Company shall be responsible for payment of all patent expenses in connection with preparing, filing, prosecution and maintenance of patents or patent applications relating to the patent rights. The Company paid $25,000 license fee on February 17, 2021 and $50,000 in February 2022 which was recorded as prepaid expense and is being amortized over the 15-year term. During the years ended December 31, 2023 and 2022, the Company recognized license fees of $5,000 and $5,000, respectively, from the amortization of prepaid license fees, which is included in costs of revenues on the accompanying consolidated statements of operations. On December 31, 2023, prepaid expense and other current assets – current amounted to $5,000 and prepaid expense – non-current amounted to $55,625. On December 31, 2022, prepaid expense and other current assets – current amounted to $5,000 and prepaid expense – non-current amounted to $60,625 as reflected in the consolidated balance sheets. Milestone Payment Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product $ 50,000 Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product $ 100,000 Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product $ 250,000 Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product $ 500,000 Achievement of First Commercial Sale of Licensed Product $ 1,000,000 Royalty Payments Terms (i) 3% on sales of licensed products (as defined in the Master License Agreement) during the applicable calendar year for sales less than $50,000,000; and (ii) 5% on sales of licensed products during the applicable calendar year for sales greater than $50,000,000; and (iii) minimum annual royalty payments, as follows: Years Minimum Prior to First Commercial Sale $ N/A Year of First Commercial Sale $ N/A First calendar year following the First Commercial Sale $ 25,000 Second calendar year following the First Commercial Sale $ 25,000 Third calendar year following the First Commercial Sale $ 100,000 On November 10, 2023, the Company entered into a Third Amendment to Master License Agreement (the “Third Amendment”) with UMB, pursuant to which the parties agreed to an amended and restated schedule of diligence milestones for the Master License Agreement. In April 2021, in connection with the Company’s Sublicense Agreement with Aikido Pharma Inc. (see below - Patent License Agreement with Aikido Pharma Inc. License Agreements between the Company and Customer Customer Patent License Agreement with Aikido Pharma Inc. On January 5, 2021, the Company and its subsidiary Silo Pharma, Inc., entered into a patent license agreement (“License Agreement”) (collectively, the “Licensor”) with Aikido Pharma Inc. (“Aikido” or the “Customer”), as amended on April 12, 2021, pursuant to which the Licensor granted Aikido an exclusive, worldwide (“Territory”), sublicensable, royalty-bearing license to certain intellectual property: (i) to make, have made, use, provide, import, export, lease, distribute, sell, offer for sale, develop and advertise certain licensed products and (ii) to develop and perform certain licensed processes for the treatment of cancer and symptoms caused by cancer (“Field of Use”). The License Agreement also provided that, if the Licensor exercised the option granted to it pursuant to its commercial evaluation license and option agreement with UMB, effective as of July 15, 2020, it would grant Aikido a non-exclusive sublicense (“Right”) to certain UMB patent rights in the field of neuroinflammatory diseases occurring in patients diagnosed with cancer (“Field”). Pursuant to the License Agreement, Aikido agreed to pay the Licensor, among other things, (i) a one-time non-refundable cash payment of $500,000 and (ii) royalty payments equal to 2% of net sales (as defined in the License Agreement) in the Field of Use in the Territory. In addition, Aikido agreed to issue the Licensor 500 shares of Aikido’s newly designated Series M Convertible Preferred Stock which were to be converted into an aggregate of 625,000 shares of Aikido’s common stock. On April 12, 2021, the Company entered into an amendment to the License Agreement (“Amended License Agreement”) with Aikido dated January 5, 2021 whereby Aikido issued an aggregate of 625,000 restricted shares of Aikido’s common stock instead of the 500 shares of the Series M Convertible Preferred Stock. Pursuant to the License Agreement, the Company is required to prepare, file, prosecute, and maintain the licensed patents. Unless earlier terminated, the term of the license to the licensed patents will continue until the expiration or abandonment of all issued patents and filed patent applications within the licensed patents. The Company may terminate the License Agreement upon 30 day written notice if Aikido fails to pay any amounts due and payable to the Company or if Aikido or any of its affiliates brings a patent challenge against the Company, assists others in bringing a legal or administrative challenge to the validity, scope, or enforceability of or opposes any of the licensed patents (“Patent Challenge”) against the Company (except as required under a court order or subpoena). Aikido may terminate the Agreement at any time without cause, and without incurring any additional penalty, (i) by providing at least 30 days’ prior written notice and paying the Company all amounts due to it through such termination effective date. Either party may terminate the Agreement for material breaches that have failed to be cured within 60 days after receiving written notice. The Company collected the non-refundable cash payment of $500,000 on January 5, 2021 which was recorded as deferred revenue to be recognized as revenues over 15 years, the estimated term of the UMB Master License Agreement. Prior to the April 12, 2021, issuance of the common stock in lieu of the Series M Convertible Preferred Stock as discussed above, the Company valued the 500 Series M Convertible Preferred stock which was equivalent into Aikido’s 625,000 shares of common stock at a fair value of $0.85 per common share or $531,250 based quoted trading price of Aikido’s common stock on the date of grant. The Company recorded an equity investment of $531,250 (see Note 3) and deferred revenue of $531,250 to be recognized as revenues over the estimated term of the UMB Master License. Accordingly, the Company recorded a total deferred revenue of $1,031,250 ($500,000 cash received and $531,250 value of equity securities received) to be recognized as revenues over the 15-year term. During the years ended December 31, 2023 and 2022, the Company recognized license fee revenues of $68,750 and $68,750, respectively. On December 31, 2023, deferred revenue – current portion amounted to $68,750 and deferred revenue – long-term portion amounted to $756,250. On December 31, 2022, deferred revenue – current portion amounted to $68,750 and deferred revenue – long-term portion amounted to $825,000 as reflected in the consolidated balance sheets. The Right shall be, to the full extent permitted by and on terms and conditions required by UMB, for a term consistent with the term of patent and technology licenses that UMB normally grants. In the event that the Company exercises its option and executes a license with UMB to the UMB patent rights within 40 days after the execution of such UMB license, for consideration to be agreed upon and paid by Aikido, which consideration shall in no event exceed 110% of any fee payable by the Company to UMB for the right to sublicense the UMB patent rights. The Company shall grant Aikido a nonexclusive sublicense in the United States to the UMB patent rights in the Field, subject to the terms of any UMB license Licensor obtains, including any royalty obligations on sublicensees required under any such sublicense. The option was exercised on January 13, 2021. Accordingly, on April 6, 2021, the Company entered into the Sublicense Agreement with Aikido pursuant to which it granted Aikido a worldwide exclusive sublicense to its licensed patents under the Master License Agreement. Customer Sublicense Agreement with Aikido Pharma Inc. On April 6, 2021 (the “Sublicense Agreement Effective Date”), the Company entered into the Sublicense Agreement with Aikido pursuant to which the Company granted Aikido an exclusive worldwide sublicense to (i) make, have made, use, sell, offer to sell and import the Licensed Products (as defined below) and (ii) in connection therewith to (A) use an invention known as “Central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology” which was sublicensed to the Company pursuant to the Master License Agreement and (B) practice certain patent rights (“Patent Rights”) for the therapeutic treatment of neuroinflammatory disease in cancer patients. “Licensed Products” means any product, service, or process, the development, making, use, offer for sale, sale, importation, or providing of which: (i) is covered by one or more claims of the Patent Rights; or (ii) contains, comprises, utilizes, incorporates, or is derived from the Invention or any technology disclosed in the Patent Rights. Pursuant to the Sublicense Agreement, Aikido agreed to pay the Company (i) an upfront license fee of $50,000, (ii) the same sales-based royalty payments that the Company is subject to under the Master License Agreement and (iii) total milestone payments of up to $1.9 million. The Sublicense Agreement shall continue on a Licensed Product-by-Licensed Product and country-by-country basis until the later of (i) the date of expiration of the last to expire claim of the Patent Rights covering such Licensed Product in such country, (ii) the expiration of data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity or other legally enforceable market exclusivity, if applicable and (iii) 10 years after the first commercial sale of a Licensed Product in that country, unless terminated earlier pursuant to the terms of the Sublicense Agreement. Furthermore, the Sublicense Agreement shall expire 15 years after the Sublicense Agreement Effective Date with respect to any country in which (i) there were never any Patent Rights, (ii) there was never any data protection, new chemical entity, orphan drug exclusivity, regulatory exclusivity or other legally enforceable market exclusivity with respect to a Licensed Product and (ii) there was never a commercial sale of a Licensed Product, unless such agreement is earlier terminated pursuant to its terms. The Company collected the upfront license fee of $50,000 in April 2021. During the years ended December 31, 2023 and 2022, the Company recognized revenue of $3,352 and $3,352, respectively. On December 31, 2023, deferred revenue – current portion amounted to $3,352 and deferred revenue – long-term portion amounted to $37,430, and on December 31, 2022, deferred revenue – current portion amounted to $3,352 and deferred revenue – long-term portion amounted to $40,782 as reflected in the consolidated balance sheets. Sponsored Study and Research Agreements between the Company and Vendors Investigator-Sponsored Study Agreement with University of Maryland, Baltimore On January 5, 2021, the Company entered into an investigator-sponsored study agreement (“Sponsored Study Agreement”) with the University of Maryland, Baltimore. The research project is a clinical study to examine a novel peptide-guided drug delivery approach for the treatment of multiple sclerosis (“MS”). More specifically, the study is designed to evaluate (1) whether MS-1-displaying liposomes can effectively deliver dexamethasone to the CNS and (2) whether MS-1-displaying liposomes are superior to plain liposomes, also known as free drug, in inhibiting the relapses and progression of experimental autoimmune encephalomyelitis. Pursuant to the Sponsored Study Agreement, the research shall commence on March 1, 2021 and will continue until substantial completion, subject to renewal upon mutual written consent of the parties. The total cost under the Sponsored Study Agreement shall not exceed $81,474 which is payable in two equal installments of $40,737 upon execution of the Sponsored Study Agreement and $40,737 upon completion of the project with an estimated project timeline of nine months. In 2021, the Company paid $40,737 and recorded research and development expense of $40,737. This project has been postponed until further notice and the second payment is not due. Sponsored Research Agreement with The Regents of the University of California On June 1, 2021 (the “Effective Date”), the Company entered into a sponsored research agreement (the “Sponsored Research Agreement”) with The Regents of the University of California, on behalf of its San Francisco Campus (“UCSF”) pursuant to which UCSF shall conduct a study to examine psilocybin’s effect on inflammatory activity in humans to accelerate its implementation as a potential treatment for Parkinson’s Disease, chronic pain, and bipolar disorder. Pursuant to the Agreement, the Company shall pay UCSF a total fee of $342,850 to conduct the research over the two-year period. The Agreement was effective for a period of two years from the Effective Date, subject to renewal or earlier termination as set forth in the Sponsored Research Agreement. During the years ended December 31, 2022 and 2021, pursuant to the Sponsored Research Agreement, the Company paid to UCSF $181,710 and $100,570, respectively, which were recorded to prepaid expense and other current assets – current to be amortized over the two-year period. During the year ended December 31, 2023, the Company paid the remaining amount due of $60,570. During the years ended December 31, 2023 and 2022, the Company recorded research and development expenses of $71,427 and $178,568, respectively, from the amortization of the prepaid research and development fees. On December 31, 2023 and 2022, prepaid research and development fees amounted to $0 and $10,857, respectively which is reflected in prepaid expenses and other current assets – current on the accompanying consolidated balance sheets. Sponsored Research Agreement with University of Maryland, Baltimore On July 6, 2021, the Company and University of Maryland, Baltimore (“UMB”) entered into a sponsored research agreement (“July 2021 Sponsored Research Agreement”) pursuant to which UMB shall evaluate the pharmacokinetics of dexamethasone delivered to arthritic rats via liposome. The research pursuant to the July 2021 Sponsored Research Agreement shall commence on September 1, 2021 and will continue until the substantial completion thereof, subject to renewal upon written consent of the parties. The July 2021 Sponsored Research Agreement may be terminated by either party upon 30 days’ prior written notice to the other party. In addition, if either party commits any material breach of or defaults with respect to any terms or conditions of the July 2021 Sponsored Research Agreement and fails to remedy such default or breach within 10 business days after written notice from the other party, the party giving notice may terminate the July 2021 Sponsored Research Agreement as of the date of receipt of such notice by the other party. If the Company terminates the July 2021 Sponsored Research Agreement for any reason other than an uncured material breach by UMB, the Company shall relinquish any and all rights it may have in the Results (as defined in the July 2021 Sponsored Research Agreement) to UMB. In addition, if the July 2021 Sponsored Research Agreement is terminated early, the Company, among other things, will pay all costs incurred and accrued by UMB as of the date of termination. On June 7, 2022, the Company and UMB amended the July 2021 Sponsored Research Agreement whereby both parties agreed to make changes to the original project work and budget. The amendment had no effect on the consolidated financial statements. Pursuant to the terms of the July 2021 Sponsored Research Agreement, UMB granted the Company an option (the “Option”) to negotiate and obtain an exclusive license to any UMB Arising IP (as defined in the July 2021 Sponsored Research Agreement) and UMB’s rights in any Joint Arising IP (as defined in the July 2021 Sponsored Research Agreement) (collectively, the “UMB IP”). The Company may exercise the Option by giving UMB written notice within 60 days after it receives notice from UMB of the UMB IP. Pursuant to the July 2021 Sponsored Research Agreement, the Company shall pay UMB the fees below: Payment 1 $ 92,095 Paid upon execution of the July 2021 Sponsored Research Agreement 2 $ 92,095 Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement 3 $ 92,095 Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement The Company paid the first payment of $92,095 on September 1, 2021 and on August 31, 2022, the Company paid the second payment of $92,095. These payments were recorded to prepaid expense and other current assets – current to be amortized into research and development expense during the years ended December 31, 2022 and 2021. During the years ended December 31, 2023 and 2022, the Company recorded research and development expenses of $0 and $187,090, respectively, from the amortization of these prepaid research and development fees and other expenses. On December 31, 2023 and 2022, the Company owed UMB $92,095 which was included in accounts payable on the accompanying consolidated balance sheets. Sponsored Research Agreement with Columbia University On October 1, 2021, the Company entered into a sponsored research agreement with Columbia University pursuant to which the Company has been granted an option to license certain assets currently under development, including assets related to the potential treatment of patients suffering from Alzheimer’s disease. The term of the option will commence on the effective date of this agreement and will expire upon the earlier of (i) 90 days after the date of the Company’s receipt of a final research report for each specific research proposal as defined in the agr

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes [Abstract]
INCOME TAXES	NOTE 9 – INCOME TAXES The Company maintains deferred tax assets and liabilities that reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The deferred tax assets on December 31, 2023 and 2022 consist of net operating loss carry-forwards. The net deferred tax asset has been fully offset by a valuation allowance because of the uncertainty of the attainment of future taxable income. As of December 31, 2023 and 2022, the Company had not recorded a liability for any unrecognized tax positions. The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2023 and 2022 was as follows: Year Ended Year Ended December 31, December 31, Income tax benefit at U.S. statutory rate $ (777,143 ) $ (820,796 ) Income tax benefit – state (240,544 ) (254,056 ) Permanent differences 29,510 133,994 Change in valuation allowance 988,177 940,858 Total provision for income tax $ - $ - The Company’s approximate net deferred tax asset as of December 31, 2023 and 2022 was as follows: December 31, December 31, Deferred Tax Asset: Net operating loss carryforward $ 2,538,565 $ 1,550,388 Total deferred tax asset before valuation allowance 2,538,565 1,550,388 Valuation allowance (2,538,565 ) (1,550,388 ) Net deferred tax asset $ - $ - The net operating loss carryforward was approximately $9,231,000 on December 31, 2023. Future utilization of the net operating loss carryforward to offset future taxable income is subject to an annual limitation as a result of ownership changes that may occur in the future. The net operating loss carry forwards may be available to reduce future years’ taxable income. Net loss carryforwards in the amount of $9,231,000 from 2018 onwards can be carried over indefinitely, subject to annual usage limits. Management believes that it appears more likely than not that the Company will not realize these tax benefits due to the Company’s continuing losses for income taxes purposes. Accordingly, the Company has provided a 100% valuation allowance on the deferred tax asset benefit related to the U.S. net operating loss carry forwards to reduce the asset to zero. Management will review this valuation allowance periodically and will make adjustments as necessary. In 2023, the valuation allowance increased by $988,177.

Subsequent Events

Subsequent Events	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS Exclusive License Agreement with the Trustees of Columbia University in the City of New York See “Note 8—Commitments and Contingencies-- License Agreements between the Company and Vendors--Exclusive License Agreement with the Trustees of Columbia University in the City of New York” above for a discussion of the Company’s license agreement with Columbia University. Sale of Common Stock and Warrants On July 18, 2024, the Company entered into a securities purchase agreement (the “July 2024 Purchase Agreement”) with certain institutional investors, pursuant to which the Company agreed to sell to such investors 763,638 shares (the “Shares”) of common stock of the Company (the “Common Stock”), at a purchase price of $2.75 per share of Common Stock (the “Offering”). The shares of Common Stock were offered by the Company pursuant to its shelf registration statement on Form S-3 (File No. 333-276658), which was declared effective by the Securities and Exchange Commission on January 30, 2024. Concurrently with the sale of Common Stock, pursuant to the July 2024 Purchase Agreement in a private placement, for each share of Common Stock purchased by the investors, such investors received from the Company an unregistered warrant (the “July 2024 Common Warrants”) to purchase one share of common stock for an aggregate of 763,638 July 2024 Common Warrants. The July 2024 Warrants have an exercise price of $2.75 per share and are exercisable immediately upon issuance for a five-year period. The closing of the sales of these securities under the July 2024 Purchase Agreement took place on July 22, 2024. The gross proceeds from the offering were $2,100,005, prior to deducting placement agent’s fees and other offering expenses payable by the Company, and the Company received net proceeds of $1,780,555, net of Underwriters discounts and offering costs of $269,450 and legal fees of $50,000. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. The Common Warrants and the Common Warrant Shares were sold without registration under the Securities Act of 1933 (the “Securities Act”) in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act as transactions not involving a public offering and Rule 506 promulgated under the Securities Act as sales to accredited investors, and in reliance on similar exemptions under applicable state laws. On April 23, 2024, the Company entered into an engagement agreement with H.C. Wainwright & Co., LLC, as exclusive placement agent (the “Placement Agent”), pursuant to which the Placement Agent agreed to act as placement agent on a reasonable “best efforts” basis in connection with the Offering. The Company agreed to pay the Placement Agent an aggregate cash fee equal to 7.5% of the gross proceeds from the sale of securities in the Offering and a management fee equal to 1.0% of the gross proceeds raised in the Offering. The Company also agreed to issue the Placement Agent (or its designees) a warrant (the “Placement Agent Warrant”) Pursuant to the terms of the Purchase Agreement and subject to certain exceptions as set forth in the Purchase Agreement, from the date of the Purchase Agreement until fifteen days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents. In addition, until the one year from the Closing Date, the Company is prohibited from entering into a Variable Rate Transaction (as defined in the Purchase Agreement), subject to certain limited exceptions. Each of our executive officers and directors have agreed, subject to certain exceptions, not to dispose of or hedge any shares of Common Stock or securities convertible into or exchangeable for shares of Common Stock during the period from the date of the lock-up agreement continuing through the fifteen (15) days after the closing of this offering. Th e Company has agreed to file a registration statement on Form S-3 (or other appropriate form if the Company is not then S-3 eligible) providing for the resale of the Common Warrant Shares (the “Resale Registration Statement”) within 45 calendar days of the date of the Purchase Agreement (the “Filing Date”), and to use commercially reasonable efforts to cause the Resale Registration Statement to be declared effective by the SEC within 75 calendar days following the date of the Filing Date and to keep the Resale Registration Statement effective at all times until the Holders no longer own any Common Warrants or Common Warrant Shares.	NOTE 10 – SUBSEQUENT EVENTS Stock Repurchase Plan On January 9, 2024, the Board of Directors of the Company approved an extension of the previously announced stock repurchase program authorizing the purchase of up to $1 million of the Company’s common stock until March 31, 2024. From January 1, 2024 to March 23, 2024, the Company purchased 62,607 shares of common stock for a cost of $95,682.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
Intangible Assets [Abstract]
INTANGIBLE ASSETS	NOTE 5 – INTANGIBLE ASSETS On July 1, 2024, the Company entered into an exclusive license agreement (the “Columbia License Agreement”) with Columbia University (“Columbia”) with an effective date of June 28, 2024 (the “Effective Date”) and pursuant to which the Company has been granted exclusive rights to certain patents and technical information to develop, manufacture and commercialize Products (as defined in the Columbia License Agreement), including therapies for stress-induced affective disorders and other conditions for a cost of $247,400, which has been accrued as of June 30, 2024 and included in accounts payable and accrued expenses on the accompanying unaudited consolidated balance sheet. The term of the Columbia License Agreement shall commence on the Effective Date and shall continue on a country-by-country and product-by-product basis until the latest of: (a) the date of expiration of the last to expire of the issued Patents (as defined in the Columbia License Agreement), (b) 20 years after the first bona fide commercial sale of the Product in the country in question, or (c) expiration of any market exclusivity period granted by a regulatory agency for a Product in the country in question (See Note 8). On June 30, 2024 and December 31, 2023, intangible assets consisted of the following: Useful life June 30, December 31, License 20 years $ 247,400 $ - Less: accumulated amortization - - $ 247,400 $ - Amortization of intangible assets with finite lives attributable to future periods is as follows: Year ending June 30: Amount 2025 $ 12,370 2026 12,370 2027 12,370 2028 12,370 2029 12,370 Thereafter 185,550 Total $ 247,400

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (the “U.S. GAAP”) for interim financial information and with the instructions Article 8-03 of Regulation S-X. Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. Certain information and note disclosure normally included in financial statements prepared in accordance with U.S. GAAP has been condensed or omitted from these statements pursuant to such accounting principles and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements. These unaudited consolidated financial statements should be read in conjunction with the summary of significant accounting policies and notes to the consolidated financial statements for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission on March 25, 2024. The Company’s unaudited consolidated financial statements include financial statements for Silo Pharma, Inc. and its inactive wholly-owned subsidiary with the same name as the parent entity, Silo Pharma, Inc. All intercompany transactions and balances have been eliminated in consolidation. Management acknowledges its responsibility for the preparation of the accompanying unaudited consolidated financial statements which reflect all adjustments, consisting of normal recurring and non-recurring adjustments, considered necessary in its opinion for a fair statement of its consolidated financial position and the consolidated results of its operations for the periods presented.	Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), the instructions to Form 10-K, and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”) for financial information. The Company’s consolidated financial statements include financial statements for Silo Pharma, Inc. and its inactive wholly-owned subsidiary with the same name as the parent entity, Silo Pharma, Inc. All intercompany transactions and balances have been eliminated in consolidation. In accordance with, Accounting Standard Codification (“ASC”) 205-20 “Discontinued Operations” establishes that the disposal or abandonment of a component of an entity or a group of components of an entity should be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. As a result, the NFID, LLC component’s results of operations have been classified as discontinued operations on a retrospective basis for all periods presented. Accordingly, the results of operations of this component, for all periods, are separately reported as “discontinued operations” on the consolidated statements of operations.
Liquidity	Liquidity As reflected in the accompanying unaudited consolidated financial statements, the Company generated a net loss of $1,733,446 and used cash in operations of $1,322,582 during the six months ended June 30, 2024. Additionally, the Company has an accumulated deficit of $12,605,257 on June 30, 2024. As of June 30, 2024, the Company had working capital of $6,405,949. The positive working capital serves to mitigate the conditions that historically raised substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the Company has sufficient cash and liquid short-term investments to meet its obligations for a minimum of twelve months from the date of this filing.	Liquidity As reflected in the accompanying consolidated financial statements, the Company generated a net loss of $3,700,683 and used cash in operations of $3,224,498 during the year ended December 31, 2023. Additionally, the Company has an accumulated deficit of $10,871,811 on December 31, 2023. As of December 31, 2023, the Company had working capital of $6,905,568. The positive working capital serves to mitigate the conditions that historically raised substantial doubt about the Company’s ability to continue as a going concern. The Company believes that the Company has sufficient cash and liquid short-term investments to meet its obligations for a minimum of twelve months from the date of this filing.
Use of Estimates	Use of Estimates 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.	Use of Estimates The preparation of 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 years ended December 31, 2023 and 2022 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, the fair value of warrants issued with debt, and the fair value of shares and stock options issued for services.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when acquired to be cash equivalents. The Company places its cash with high credit quality financial institutions. The Company’s accounts at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 or by the Securities Investor Protection Corporation up to $250,000. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds deposits. On June 30, 2024 and December 31, 2023, the Company had cash in excess of FDIC limits of approximately $3,756,000 and $2,805,000, respectively. In connection with the early termination of a certificate of deposit, during the six months ended June 30, 2023, the Company paid a penalty of $166,034, which is reflected on the accompanying unaudited consolidated statement of operations and comprehensive loss. Any material loss that we may experience in the future could have an adverse effect on our ability to pay our operational expenses or make other payments.	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when acquired to be cash equivalents. The Company places its cash with high credit quality financial institutions. The Company’s accounts at these institutions are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 or by the Securities Investor Protection Corporation up to $250,000. To reduce its risk associated with the failure of such financial institutions, the Company evaluates at least annually the rating of the financial institutions in which it holds deposits. On December 31, 2023 and 2022, the Company had cash in excess of FDIC limits of approximately $2,805,000 and $10,868,000, respectively. During the year ended December 31, 2023, the Company transferred funds to other high quality financial institutions to mitigate its risk to ensure that its exposure is limited or reduced to the FDIC protection limits. In connection with the early termination of a certificate of deposit, in 2023, the Company paid a penalty of $166,034, which is reflected on the accompanying consolidated statement of operations and comprehensive loss during the year ended December 2023. Any material loss that we may experience in the future could have an adverse effect on our ability to pay our operational expenses or make other payments.
Short-Term Investments	Short-Term Investments The Company’s portfolio of short-term investments consists of marketable debt securities which are comprised solely of highly rated U.S. government securities with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the unaudited consolidated balance sheet and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income and as a component of the unaudited consolidated statements of comprehensive loss. Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income (expense), net in the unaudited consolidated statements of operations and comprehensive loss. An impairment loss may be recognized when the decline in fair value of the debt securities is determined to be other-than-temporary. The Company evaluates its investments for other-than-temporary declines in fair value below the cost basis each quarter, or whenever events or changes in circumstances indicate that the cost basis of the short-term investments may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security, such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required to sell the security before recovery of its amortized cost basis. The Company recorded $(18,078) and $14,253 of unrealized (loss) income on short-term investments as a component of accumulated other comprehensive income (loss) for the three and six months ended June 30, 2024, respectively. The Company recorded $(8,520) and $(3,281) of unrealized loss as a component of accumulated other comprehensive loss for the three and six months ended June 30, 2023, respectively.	Short-Term Investments The Company’s portfolio of short-term investments consists of marketable debt securities which are comprised solely of highly rated U.S. government securities with maturities of more than three months, but less than one year. The Company classifies these as available-for-sale at purchase date and will reevaluate such designation at each period end date. The Company may sell these marketable debt securities prior to their stated maturities depending upon changing liquidity requirements. These debt securities are classified as current assets in the consolidated balance sheet and recorded at fair value, with unrealized gains or losses included in accumulated other comprehensive income and as a component of the consolidated statements of comprehensive loss. Gains and losses are recognized when realized. Gains and losses are determined using the specific identification method and are reported in other income (expense), net in the consolidated statements of operations and comprehensive loss. An impairment loss may be recognized when the decline in fair value of the debt securities is determined to be other-than-temporary. The Company evaluates its investments for other-than-temporary declines in fair value below the cost basis each quarter, or whenever events or changes in circumstances indicate that the cost basis of the short-term investments may not be recoverable. The evaluation is based on a number of factors, including the length of time and the extent to which the fair value has been below the cost basis, as well as adverse conditions related specifically to the security, such as any changes to the credit rating of the security and the intent to sell or whether the Company will more likely than not be required to sell the security before recovery of its amortized cost basis. The Company recorded $6,227 of unrealized loss on short-term investments as a component of other comprehensive loss for the year ended December 31, 2023, respectively. The Company did not recognize any unrealized gains or losses on short-term investments during the year ended December 31, 2022.
Equity Investments, at Fair Value	Equity Investments, at Fair Value Realized gain or loss is recognized when an investment is disposed of and is computed as the difference between the Company’s carrying value and the net proceeds received from such disposition. Realized gains and losses on investment transactions are determined by specific identification. Net unrealized gains or losses are computed as the difference between the fair value of the investment and the cost basis of such investment. Net unrealized gains or losses for equity investments are recognized in operations as the difference between the carrying value at the beginning of the period and the fair value at the end of the period. As of June 30, 2024 and December 31, 2023, the Company had no such investments.	Equity Investments, at Fair Value Realized gain or loss is recognized when an investment is disposed of and is computed as the difference between the Company’s carrying value and the net proceeds received from such disposition. Realized gains and losses on investment transactions are determined by specific identification. Net unrealized appreciation or depreciation is computed as the difference between the fair value of the investment and the cost basis of such investment. Net unrealized gains or losses for equity investments are recognized in operations as the difference between the carrying value at the beginning of the period and the fair value at the end of the period.
Note Receivable	Note Receivable The Company recognizes an allowance for losses on notes receivable in an amount equal to the estimated probable losses net of recoveries. The allowance is based on an analysis of historical bad debt experience, current note receivable aging, and expected future write-offs, as well as an assessment of specific identifiable accounts considered at risk or uncollectible. The expense associated with the allowance for doubtful accounts is recorded as part of general and administrative expenses. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600. As of June 30, 2024, there were no subsequent collections of previously written-off notes receivable.	Note Receivable The Company recognizes an allowance for losses on notes receivable in an amount equal to the estimated probable losses net of recoveries. The allowance is based on an analysis of historical bad debt experience, current note receivable aging, and expected future write-offs, as well as an assessment of specific identifiable accounts considered at risk or uncollectible. The expense associated with the allowance for doubtful accounts is recorded as part of general and administrative expenses. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600, which is recorded in loss from discontinued operations on the accompanying consolidated statement of operations.
Prepaid Expenses	Prepaid Expenses Prepaid expenses and other current assets of $120,288 and $15,970 on June 30, 2024 and December 31, 2023, respectively, consist primarily of costs paid for future services which will occur within a year. On June 30, 2024 and December 31, 2023, prepaid expenses and other assets – non-current amounted to $62,064 and $64,983, respectively, and consist primarily of costs paid for future services which will occur after a year. Prepaid expenses may include prepayments in cash and equity instruments for consulting, research and development, license fees, public relations and business advisory services, and legal fees which are being amortized over the terms of their respective agreements, which may exceed a year of service.	Prepaid Expenses Prepaid expenses and other current assets of $15,970 and $135,894 on December 31, 2023 and 2022, respectively, consist primarily of costs paid for future services which will occur within a year. On December 31, 2023 and 2022, prepaid expenses and other assets – non-current amounted to $64,983 and $70,821, respectively, and consist primarily of costs paid for future services which will occur after a year. Prepaid expenses may include prepayments in cash and equity instruments for consulting, research and development, license fees, public relations and business advisory services, and legal fees which are being amortized over the terms of their respective agreements, which may exceed a year of service.
Revenue Recognition		Revenue Recognition The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company records interest and dividend income on an accrual basis to the extent that the Company expects to collect such amounts. For the license and royalty income, revenue is recognized when the Company satisfies the performance obligation based on the related license agreement. Payments received from the licensee that are related to future periods are recorded as deferred revenue to be recognized as revenues over the term of the related license agreement (see Note 8). Product sales were recognized when the NFID products were shipped to the customer and title was transferred and were recorded net of any discounts or allowances which are separately reported as “discontinued operations” on the consolidated statements of operations.
Cost of Revenues	Cost of Revenues The primary components of cost of revenues on license fees includes the cost of the license fees. Payments made to the licensor that are related to future periods are recorded as prepaid expense to be amortized over the term of the related license agreement (see Note 8).	Cost of Revenues The primary components of cost of revenues on license fees includes the cost of the license fees. Payments made to the licensor that are related to future periods are recorded as prepaid expense to be amortized over the term of the related license agreement (see Note 8).
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation – Stock Compensation”, which requires recognition in the financial statements of the cost of employee, director, and non-employee services received in exchange for an award of equity instruments over the period the employee, director, or non-employee is required to perform the services in exchange for the award (presumptively, the vesting period). The ASC also requires measurement of the cost of employee, director, and non-employee services received in exchange for an award based on the grant-date fair value of the award. The Company has elected to recognize forfeitures as they occur as permitted under Accounting Standards Update (“ASU”) 2016-09 Improvements to Employee Share-Based Payment.	Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation – Stock Compensation”, which requires recognition in the financial statements of the cost of employee, director, and non-employee services received in exchange for an award of equity instruments over the period the employee, director, or non-employee is required to perform the services in exchange for the award (presumptively, the vesting period). The ASC also requires measurement of the cost of employee, director, and non-employee services received in exchange for an award based on the grant-date fair value of the award. The Company has elected to recognize forfeitures as they occur as permitted under Accounting Standards Update (“ASU”) 2016-09 Improvements to Employee Share-Based Payment.
Income Taxes	Income Taxes Deferred income tax assets and liabilities arise from temporary differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect when these differences reverse. Deferred tax assets and liabilities are classified as current or non-current, depending upon the classification of the asset or liabilities to which they relate. Deferred tax assets and liabilities not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company follows the provisions of Financial Accounting Standards Board (“FASB”) ASC 740-10, “Uncertainty in Income Taxes”. Certain recognition thresholds must be met before a tax position is recognized in the financial statements. An entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. The Company does not believe it has any uncertain tax positions as of June 30, 2024 and December 31, 2023 that would require either recognition or disclosure in the accompanying unaudited consolidated financial statements.	Income Taxes Deferred income tax assets and liabilities arise from temporary differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect when these differences reverse. Deferred tax assets and liabilities are classified as current or non-current, depending upon the classification of the asset or liabilities to which they relate. Deferred tax assets and liabilities not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. The Company follows the provisions of Financial Accounting Standards Board (“FASB”) ASC 740-10, “Uncertainty in Income Taxes”. Certain recognition thresholds must be met before a tax position is recognized in the financial statements. An entity may only recognize or continue to recognize tax positions that meet a “more-likely-than-not” threshold. The Company does not believe it has any uncertain tax positions as of December 31, 2023 and 2022 that would require either recognition or disclosure in the accompanying consolidated financial statements.
Research and Development	Research and Development In accordance with ASC 730-10, “Research and Development-Overall,”	Research and Development In accordance with ASC 730-10, “Research and Development-Overall,”
Leases	Leases Leases are accounted for using ASU 2016-02, “ Leases (Topic 842)”	Leases Leases are accounted for using ASU 2016-02, “ Leases (Topic 842)”
Net Loss per Common Share	Net Loss per Common Share Basic loss per share is computed by dividing net loss allocable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period using the as-if converted method. Potentially dilutive securities which include stock options and stock warrants are excluded from the computation of diluted shares outstanding if they would have an anti-dilutive impact on the Company’s net losses. The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the six months ended June 30, 2024 and 2023: June 30, June 30, 2024 2023 Stock options 26,850 28,850 Warrants 1,390,819 404,580 1,417,669 433,430	Net Loss per Common Share Basic loss per share is computed by dividing net loss allocable to common shareholders by the weighted average number of shares of common stock outstanding during each period. Diluted loss per share is computed by dividing net loss available to common shareholders by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during the period using the as-if converted method. Potentially dilutive securities which include stock options and stock warrants are excluded from the computation of diluted shares outstanding if they would have an anti-dilutive impact on the Company’s net losses. The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the years ended December 31, 2023 and 2022: December 31, December 31, 2023 2022 Stock options 28,849 28,849 Warrants 404,580 404,580 433,429 433,429
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s unaudited consolidated financial statements.	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the Company’s consolidated financial statements.
Intangible Assets	Intangible Assets Intangible assets, consisting of an exclusive license agreement, are carried at cost less accumulated amortization, computed using the straight-line method over the estimated useful life of 20 years, less any impairment charges. The Company examines the possibility of decreases in the value of these assets when events or changes in circumstances reflect the fact that their recorded value may not be recoverable.
Revenue Recognition	Revenue Recognition The Company applies ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance. This standard requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures. The Company records interest and dividend income on an accrual basis to the extent that the Company expects to collect such amounts. For the license and royalty income, revenue is recognized when the Company satisfies the performance obligation based on the related license agreement. Payments received from the licensee that are related to future periods are recorded as deferred revenue to be recognized as revenues over the term of the related license agreement (see Note 8).

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]
Schedule of Potentially Dilutive Shares	The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the six months ended June 30, 2024 and 2023: June 30, June 30, 2024 2023 Stock options 26,850 28,850 Warrants 1,390,819 404,580 1,417,669 433,430	The following potentially dilutive shares have been excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive for the years ended December 31, 2023 and 2022: December 31, December 31, 2023 2022 Stock options 28,849 28,849 Warrants 404,580 404,580 433,429 433,429

Fair Value of Financial Instr_2

Fair Value of Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value of Financial Instruments and Fair Value Measurements [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023. June 30, 2024 December 31, 2023 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 3,102,240 $ - $ - $ 4,140,880 $ - $ -	The following table represents the Company’s fair value hierarchy of its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022. December 31, 2023 December 31, 2022 Description Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Short-term investments $ 4,140,880 $ - $ - $ - $ - $ - Equity investments $ - $ - $ - $ 3,118 $ - $ -
Schedule of Summarizes Activity in the Company’s Short Term Investments at Fair Value	The following table summarizes activity in the Company’s short-term investments, at fair value for the periods presented: Six Months Ended Six Months Ended June 30, 2024 2023 Balance, beginning of period $ 4,140,880 $ - Additions 97,452 10,352,410 Sales at original cost (1,149,320 ) (517,821 ) Net realized loss on short-term investments (1,025 ) (2,179 ) Unrealized gain (loss) 14,253 (3,281 ) Balance, end of period $ 3,102,240 $ 9,829,129	The following table summarizes activity in the Company’s short-term investments, at fair value for the periods presented: December 31, December 31, 2023 2022 Balance, beginning of year $ - $ - Additions 4,147,107 - Unrealized losses (6,227 ) - Balance, end of year $ 4,140,880 $ - December 31, December 31, 2023 2022 Balance, beginning of year $ 3,118 $ 419,995 Additions - 85,733 Sales at original cost - (171,407 ) Unrealized loss (3,118 ) (331,203 ) Balance, end of year $ - $ 3,118

Disposal of the Discontinued _2

Disposal of the Discontinued Operations of the NFID Business (Tables)	12 Months Ended
	Dec. 31, 2023
Disposal of the Discontinued Operations of the NFID Business [Abstract]
Schedule of Operating Result of Discontinued Operations of the NFID Business	The summarized operating result of discontinued operations of the NFID Business included in the Company’s consolidated statements of operations for the years ended December 31, 2023 and 2022 is as follows: For the Year Ended December 31, 2023 2022 Product sales, net $ - $ - Cost of sales - 1,079 Gross loss - (1,079 ) Total operating and other non-operating expenses (69,600 ) (84 ) Loss from discontinued operations $ (69,600 ) $ (1,163 )

Note Receivable (Tables)

Note Receivable (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Note Receivable [Abstract]
Schedule of Note Receivable	On June 30, 2024 and December 31, 2023, note receivable consisted of the following: June 30, December 31, 2024 2023 Principal amount of note receivable $ 60,000 $ 60,000 Accrued interest receivable 9,600 9,600 Subtotal 69,600 69,600 Less: allowance for doubtful accounts (69,600 ) (69,600 ) Note receivable – current - -	On December 31, 2023 and 2022, note receivable consisted of the following: December 31, December 31, 2023 2022 Principal amount of note receivable $ 60,000 $ 60,000 Accrued interest receivable 9,600 6,010 Subtotal 69,600 66,010 Less: allowance for doubtful accounts (69,600 ) - Note receivable – current - 66,010

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Stockholders’ Equity [Abstract]
Schedule of Stock Option Activities	Stock option activities for the six months ended June 30, 2024 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2023 28,850 $ 7.28 5.31 $ 8,610 Expired (2,000 ) 0.005 - - Balance Outstanding, June 30, 2024 26,850 $ 7.82 5.19 $ 3,980 Exercisable, June 30, 2024 26,850 $ 7.82 5.19 $ 3,980	Stock option activities for the years ended December 31, 2023 and 2022 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2021 12,849 $ 3.89 2.54 $ 42,870 Granted 16,000 10.0 - - Balance Outstanding, December 31, 2022 28,849 7.28 6.31 20,130 Granted - - - - Balance Outstanding, December 31, 2023 28,849 $ 7.28 5.31 $ 8,610 Exercisable, December 31, 2023 28,849 $ 7.28 5.31 $ 8,610
Schedule of Warrant Activities	Warrant activities for the six months ended June 30, 2024 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2023 404,580 $ 14.05 2.31 $ - Granted 1,020,276 2.04 - - Exercised (34,037 ) 0.0001 Balance Outstanding, June 30, 2024 1,390,819 $ 5.58 4.03 $ - Exercisable, June 30, 2024 1,390,819 $ 5.58 4.03 $ -	Warrant activities for the years ended December 31, 2023 and 2022 are summarized as follows: Number of Weighted Weighted Aggregate Balance Outstanding, December 31, 2021 347,080 $ 15.5 4.1 $ - Granted 57,500 6.25 5.0 - Balance Outstanding, December 31, 2022 404,580 14.05 3.3 - Granted - - - - Balance Outstanding, December 31, 2023 404,580 $ 14.05 2.3 $ - Exercisable, December 31, 2023 404,580 $ 14.05 2.3 $ -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies [Abstract]
Schedule of Milestone Payments	On December 31, 2023, prepaid expense and other current assets – current amounted to $5,000 and prepaid expense – non-current amounted to $55,625 as reflected in the unaudited consolidated balance sheets. Milestone Payment Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product $ 50,000 Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product $ 100,000 Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product $ 250,000 Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product $ 500,000 Achievement of First Commercial Sale of Licensed Product $ 1,000,000	On December 31, 2022, prepaid expense and other current assets – current amounted to $5,000 and prepaid expense – non-current amounted to $60,625 as reflected in the consolidated balance sheets. Milestone Payment Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product $ 50,000 Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product $ 100,000 Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product $ 250,000 Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product $ 500,000 Achievement of First Commercial Sale of Licensed Product $ 1,000,000
Schedule of Minimum Annual Royalty Payments	minimum annual royalty payments, as follows: Years Minimum Prior to First Commercial Sale $ N/A Year of First Commercial Sale $ N/A First calendar year following the First Commercial Sale $ 25,000 Second calendar year following the First Commercial Sale $ 25,000 Third calendar year following the First Commercial Sale $ 100,000	minimum annual royalty payments, as follows: Years Minimum Prior to First Commercial Sale $ N/A Year of First Commercial Sale $ N/A First calendar year following the First Commercial Sale $ 25,000 Second calendar year following the First Commercial Sale $ 25,000 Third calendar year following the First Commercial Sale $ 100,000
Schedule of Shall Pay UMB Fees	The Company may exercise the Option by giving UMB written notice within 60 days after it receives notice from UMB of the UMB IP. Pursuant to the July 2021 Sponsored Research Agreement, the Company shall pay UMB the fees below: Payment 1 $ 92,095 Paid upon execution of the July 2021 Sponsored Research Agreement 2 $ 92,095 Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement 3 $ 92,095 Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement	Pursuant to the July 2021 Sponsored Research Agreement, the Company shall pay UMB the fees below: Payment 1 $ 92,095 Paid upon execution of the July 2021 Sponsored Research Agreement 2 $ 92,095 Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement 3 $ 92,095 Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement
Schedule of Future Amounts Due Under Sponsored Study and Research Agreements	On June 30, 2024, future amounts due under sponsored study and research agreements between the Company and vendors is as follows: Year ended June 30, Amount 2025 $ 1,878,928 Total $ 1,878,928	On December 31, 2023, future amounts due under sponsored study and research agreements between the Company and vendors is as follows: Year ended December 31, Amount 2024 $ 725,244 Total $ 725,244

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes [Abstract]
Schedule of Income Taxes at the Effective Statutory Rate and the Provision for Income Taxes	The items accounting for the difference between income taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2023 and 2022 was as follows: Year Ended Year Ended December 31, December 31, Income tax benefit at U.S. statutory rate $ (777,143 ) $ (820,796 ) Income tax benefit – state (240,544 ) (254,056 ) Permanent differences 29,510 133,994 Change in valuation allowance 988,177 940,858 Total provision for income tax $ - $ -
Schedule of Net Deferred Tax Asset	The Company’s approximate net deferred tax asset as of December 31, 2023 and 2022 was as follows: December 31, December 31, Deferred Tax Asset: Net operating loss carryforward $ 2,538,565 $ 1,550,388 Total deferred tax asset before valuation allowance 2,538,565 1,550,388 Valuation allowance (2,538,565 ) (1,550,388 ) Net deferred tax asset $ - $ -

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Intangible Assets [Abstract]
Schedule of Intangible Asset	On June 30, 2024 and December 31, 2023, intangible assets consisted of the following: Useful life June 30, December 31, License 20 years $ 247,400 $ - Less: accumulated amortization - - $ 247,400 $ -
Schedule of Intangible Assets Finite Lives Attributable to Future Periods	Amortization of intangible assets with finite lives attributable to future periods is as follows: Year ending June 30: Amount 2025 $ 12,370 2026 12,370 2027 12,370 2028 12,370 2029 12,370 Thereafter 185,550 Total $ 247,400

Organization and Business (Deta

Organization and Business (Details) - USD ($)	Sep. 30, 2021	Oct. 01, 2023
Organization and Business [Line Items]
Purchase price	$ 60,000
Promissory note amounting	$ 60,000
Promissory note bears interest rate	8%	9%
Maturity date	Oct. 01, 2023	Dec. 30, 2023
Minimum [Member]
Organization and Business [Line Items]
Promissory note bears interest rate	8%
Maturity date	Oct. 01, 2023
Maximum [Member]
Organization and Business [Line Items]
Promissory note bears interest rate		9%
Maturity date		Dec. 30, 2023

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies [Line Items]
Net loss	$ (931,779)	$ (801,667)	$ (1,012,951)	$ (906,396)	$ (1,733,446)	$ (1,919,347)	$ (3,700,683)	$ (3,908,551)
Cash in operations					(1,569,982)	(1,242,654)	(3,224,498)	(3,497,622)
Accumulated deficit	(12,605,257)				(12,605,257)		(10,871,811)	(7,171,128)
Working capital	6,405,949				6,405,949		6,905,568
Federal deposit insurance corporation	250,000				250,000		250,000
Securities investor protection corporation	250,000				250,000		250,000
Penalty paid						166,034	166,034
Unrealized loss on short-term investments	(18,078)		(8,520)		14,253	(3,281)	(6,227)
Bad debt expense							69,600
Note receivable principal balance amount							60,000
Accrued interest receivable	9,600				9,600		9,600	6,010
Prepaid expenses and other current assets	120,288				120,288		15,970	135,894
Prepaid expenses and other assets – non-current	62,064				62,064		64,983	70,821
Research and development cost	392,824		130,719		774,889	333,632	845,092	1,286,434
Cash in operations					(1,322,582)
Unrealized loss on short-term investments	$ (18,078)		(8,520)		$ 14,253	(3,281)
Useful life	20 years				20 years
Research and Development Arrangement [Member]
Summary of Significant Accounting Policies [Line Items]
Research and development cost	$ 392,824		$ 130,719		$ 774,889	$ 333,632	845,092	1,286,434
FDIC [Member]
Summary of Significant Accounting Policies [Line Items]
Federal deposit insurance corporation	$ 3,756,000				$ 3,756,000		$ 2,805,000	$ 10,868,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Schedule of Potentially Dilutive Shares - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Schedule of Potentially Dilutive Shares [Line Items]
Potentially dilutive shares	1,417,669	433,430	433,429	433,429
Stock options [Member]
Schedule of Potentially Dilutive Shares [Line Items]
Potentially dilutive shares	26,850	28,850	28,849	28,849
Warrants [Member]
Schedule of Potentially Dilutive Shares [Line Items]
Potentially dilutive shares	1,390,819	404,580	404,580	404,580

Fair Value of Financial Instr_3

Fair Value of Financial Instruments and Fair Value Measurements (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Fair Value of Financial Instruments and Fair Value Measurements [Line Items]
Fair value per share (in Dollars per share)						$ 54.99
Gross proceeds		$ (3,508)		$ (3,118)	$ (3,118)	$ (331,203)
Net realized loss on equity investments	$ (1,259)	$ (2,179)	$ (1,025)	$ (2,179)		$ (104,700)
Home Bistro, Inc [Member]
Fair Value of Financial Instruments and Fair Value Measurements [Line Items]
Equity instruments at fair value of shares (in Shares)					1,559	1,559
Shares of common stock (in Shares)						1,559
Grant date fair value						$ 85,733
Aikido Pharma, Inc. [Member]
Fair Value of Financial Instruments and Fair Value Measurements [Line Items]
sale of equity investments						171,407
Gross proceeds						66,707
Net realized loss on equity investments						$ (104,700)

Fair Value of Financial Instr_4

Fair Value of Financial Instruments and Fair Value Measurements (Details) - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Level 1 [Member]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Short-term investments	$ 3,102,240	$ 4,140,880
Equity investments			3,118
Level 2 [Member]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Short-term investments
Equity investments
Level 3 [Member]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Short-term investments
Equity investments

Fair Value of Financial Instr_5

Fair Value of Financial Instruments and Fair Value Measurements (Details) - Schedule of Summarizes Activity in the Company’s Short Term Investments at Fair Value - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Short-Term Investments [Member]
Schedule of Summarizes Activity in the Company’s Short Term Investments and Equity Investments at Fair Value [Line Items]
Balance, beginning of year
Additions	4,147,107
Unrealized losses	(6,227)
Balance, end of year	4,140,880
Equity Investments [Member]
Schedule of Summarizes Activity in the Company’s Short Term Investments and Equity Investments at Fair Value [Line Items]
Balance, beginning of year	3,118	419,995
Additions		85,733
Sales at original cost		(171,407)
Unrealized loss	(3,118)	(331,203)
Balance, end of year		$ 3,118

Disposal of the Discontinued _3

Disposal of the Discontinued Operations of the NFID Business (Details) - USD ($)			12 Months Ended
	Oct. 01, 2023	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024
Disposal of the Discontinued Operations of the NFID Business [Line Items]
Purchase price		$ 60,000
Bad debt expense			$ 69,600
Note receivable			60,000	60,000
Accrued interest receivable			9,600	6,010	$ 9,600
Outstanding receivable balance				$ 66,010
Promissory Note [Member]
Disposal of the Discontinued Operations of the NFID Business [Line Items]
Promissory note amount		$ 60,000
Minimum [Member] | Promissory Note [Member]
Disposal of the Discontinued Operations of the NFID Business [Line Items]
Bears interest per annum		8%
Maturity date		Oct. 01, 2023
Maximum [Member] | Promissory Note [Member]
Disposal of the Discontinued Operations of the NFID Business [Line Items]
Bears interest per annum	9%
Maturity date	Dec. 30, 2023

Disposal of the Discontinued _4

Disposal of the Discontinued Operations of the NFID Business (Details) - Schedule of Operating Result of Discontinued Operations of the NFID Business - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Schedule of Operating Result of Discontinued Operations of the NFID Business [Abstract]
Product sales, net
Cost of sales		1,079
Gross loss		(1,079)
Total operating and other non-operating expenses	(69,600)	(84)
Loss from discontinued operations	$ (69,600)	$ (1,163)

Note Receivable (Details)

Note Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Oct. 01, 2023	Sep. 30, 2021
Note Receivable [Line Items]
Promissory note bears interest rate				9%	8%
Maturity date				Dec. 30, 2023	Oct. 01, 2023
Bad debt expense	$ 69,600
Accrued interest receivable	9,600	6,010	$ 9,600
Total receivable balance		66,010
Estimated probable losses	69,600		$ 69,600
Note receivable principal balance	60,000	60,000
Notes Receivable [Member]
Note Receivable [Line Items]
Accrued interest receivable	9,600
Estimated probable losses	69,600
Note receivable principal balance	$ 60,000
Promissory Note [Member]
Note Receivable [Line Items]
Promissory note bears interest rate	8%			9%
Maturity date	Oct. 01, 2023			Dec. 30, 2023
Principal balance					$ 60,000
Note Receivable [Member]
Note Receivable [Line Items]
Principal balance	$ 60,000	$ 60,000

Note Receivable (Details) - Sch

Note Receivable (Details) - Schedule of Note Receivable - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Note Receivable [Abstract]
Principal amount of note receivable		$ 60,000	$ 60,000
Accrued interest receivable	$ 9,600	9,600	6,010
Subtotal	69,600	69,600	66,010
Less: allowance for doubtful accounts	(69,600)	(69,600)
Note receivable – current			$ 66,010

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)														3 Months Ended			4 Months Ended	6 Months Ended		12 Months Ended
	Jun. 04, 2024	Apr. 23, 2024	Jan. 09, 2024	Oct. 31, 2023	Oct. 31, 2022	Sep. 29, 2022	Sep. 28, 2022	Sep. 26, 2022	Aug. 29, 2022	Mar. 31, 2022	Jan. 27, 2022	Jan. 26, 2022	Dec. 29, 2021	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Apr. 23, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 04, 2023	Feb. 09, 2021	Jan. 18, 2021
Stockholders’ Equity [Line Items]
Common stock, shares authorized														100,000,000				100,000,000		100,000,000	100,000,000
Shares authorized																		105,000,000		105,000,000
Designated shares																				4,280
Preferred stock, par value (in Dollars per share)														$ 0.0001				$ 0.0001		$ 0.0001
Stated value (in Dollars)
Series C convertible preferred stock										227
Purchase additional shares								150,000
Public offering price per shares (in Dollars per share)								$ 5			$ 10
Aggregate net proceeds (in Dollars)																					$ 4,940,948
Issued warrants to purchase an aggregate amount						57,500
Exercise price (in Dollars per share)						$ 6.25
Restricted common shares									20,000
Restricted common value (in Dollars)									$ 135,100
Restricted common share price (in Dollars per share)									$ 6.755
Stock-based professional fees (in Dollars)														386,465		$ 570,295		641,067	$ 935,565	1,726,061	1,496,687
Repurchase of shares (in Dollars)												$ 1,000,000		57,661	$ 115,452	130,959				$ 471,121
Stock repurchase program (in Dollars)			$ 1,000,000
Common stock purchase																				252,855
Common stock purchase cost (in Dollars)																				$ 471,121
Deferred compensation (in Dollars)														$ 0		8,474		$ 0	8,474	$ 14,125	$ 111,014
Stock options vest											16,000
Fair value of unvested stock option				5,000	5,000															6,000
Underwriters warrants														34,037				34,037
Purchase price per share (in Dollars per share)	$ 2.1799
Purchased shares	34,037
Exercise price per share (in Dollars per share)	$ 0.0001
Aggregate shares of common warrants shares	917,432
Percentage of proceeds in offering		1%
Percentage of aggregate shares		7.50%
Cash fee and management fee (in Dollars)	$ 170,000
Percentage of exercise price of offering price per share	125%
Legal fees and expenses (in Dollars)																		$ 65,833
Number of offering price per share (in Dollars per share)	$ 2.725
Aggregate gross proceeds (in Dollars)																	$ 1,925,801
Amount of net proceeds (in Dollars)																	1,673,216
Offering costs (in Dollars)		$ 260,950															$ 260,950
Cash (in Dollars)														$ 3				$ 3
Stock repurchase (in Dollars)			$ 1,000,000
Warrant [Member]
Stockholders’ Equity [Line Items]
Exercise price (in Dollars per share)								$ 6.25
Underwriters warrants								57,500						34,037				34,037
Pre-Funded Warrant Shares [Member]
Stockholders’ Equity [Line Items]
Purchased shares	34,037
Exercise price per share (in Dollars per share)	$ 0.0001																	$ 0.0001
Number of offering price per share (in Dollars per share)																	$ 2.1799
Aggregate gross proceeds (in Dollars)																	$ 74,201
Offering Purchase Price [Member]
Stockholders’ Equity [Line Items]
Purchase price per share (in Dollars per share)	$ 2.1799
Common Warrant Shares [Member]
Stockholders’ Equity [Line Items]
Purchased shares	1
Exercise price per share (in Dollars per share)	$ 2.06
Aggregate shares of common warrants shares	917,432
Stock Warrants [Member]
Stockholders’ Equity [Line Items]
Underwriters warrants														34,037				34,037
Exercise price per share (in Dollars per share)	$ 0.0001
Cash (in Dollars)														$ 3				$ 3
Minimum [Member]
Stockholders’ Equity [Line Items]
Common stock, shares authorized																						500,000,000
Maximum [Member]
Stockholders’ Equity [Line Items]
Common stock, shares authorized																						100,000,000
Common Stock [Member]
Stockholders’ Equity [Line Items]
Shares authorized																		100,000,000
Convertible common stock																					15,167
Purchase additional shares								1,000,000
Aggregate net proceeds (in Dollars)						$ 4,940,948
Stock-based professional fees (in Dollars)																		$ 0	$ 67,550	$ 90,067	$ 45,033
Repurchase of shares (in Dollars)
Common stock purchase																		102,855
Common stock purchase cost (in Dollars)														$ 173,113				$ 173,113		$ 471,121
Underwriters warrants														34,037				34,037
Agreed to sell investors shares	883,395													883,395							1,150,000
Purchase price per share (in Dollars per share)	$ 2.18
Purchased shares	68,807
Percentage of aggregate shares		7.50%
Percentage of exercise price of offering price per share	125%
Number of offering price per share (in Dollars per share)																	$ 2.18
Common Stock [Member] | Stock Warrants [Member]
Stockholders’ Equity [Line Items]
Exercise price per share (in Dollars per share)	$ 2.06
Common Stock [Member] | Stock Repurchase Plan [Member]
Stockholders’ Equity [Line Items]
Common stock purchase																		355,710
Common stock purchase cost (in Dollars)														$ 644,234				$ 644,234
Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Shares authorized																		5,000,000
Cash Fee [Member]
Stockholders’ Equity [Line Items]
Percentage of proceeds from the sale of securities		7.50%
Management Fee [Member]
Stockholders’ Equity [Line Items]
Percentage of proceeds in offering		1%
Placement Agent [Member]
Stockholders’ Equity [Line Items]
Purchased shares	68,807
Non-accountable expenses (in Dollars)																	$ 25,000
Legal fees and expenses (in Dollars)																	50,000
Clearing fees (in Dollars)																	15,950
Amount of net proceeds (in Dollars)																		$ 1,780,555
Offering costs (in Dollars)														$ 269,450				269,450
Placement Agent [Member] | Common Warrant Shares [Member]
Stockholders’ Equity [Line Items]
Legal fees and expenses (in Dollars)																		$ 50,000
Amendment [Member] | Minimum [Member]
Stockholders’ Equity [Line Items]
Common stock, shares authorized																						500,000,000
Amendment [Member] | Maximum [Member]
Stockholders’ Equity [Line Items]
Common stock, shares authorized																						100,000,000
Omnibus Equity Incentive Plan [Member]
Stockholders’ Equity [Line Items]
Common stock reserved and avail for issuance																								170,000
Incentive Stock Option [Member]
Stockholders’ Equity [Line Items]
Risk free interest rate																				1.18%
Expected dividend yield																				0%
Expected term																				2 years
Expected volatility																				117%
Fair value of unvested stock option																				16,000
Fair value of stock option (in Dollars)																				$ 94,915
Fair value of the unvested stock options (in Dollars)																				$ 94,915
2020 Omnibus Equity Incentive Plan [Member]
Stockholders’ Equity [Line Items]
Common stock reserved and avail for issuance																								170,000
Board of Directors Chairman [Member]
Stockholders’ Equity [Line Items]
Public offering price per shares (in Dollars per share)													$ 7.3
Aggregate of incentive stock options													6,849
Stock option value (in Dollars)													$ 30,224
Risk free interest rate													0.75%
Expected dividend yield													0%
Expected term													2 years
Expected volatility													115%
Deferred compensation (in Dollars)													$ 30,224
Issuance of deferred compensation balance (in Dollars)																					$ 14,125
Board of Directors Chairman [Member] | Minimum [Member]
Stockholders’ Equity [Line Items]
Common stock issued under the plan																		300,000		300,000
Board of Directors Chairman [Member] | Maximum [Member]
Stockholders’ Equity [Line Items]
Common stock issued under the plan																		470,000		470,000
Board of Directors [Member] | Stock Repurchase Plan [Member]
Stockholders’ Equity [Line Items]
Repurchase of shares (in Dollars)												$ 1,000,000
Common Stock [Member]
Stockholders’ Equity [Line Items]
Shares authorized																				100,000,000
Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Shares authorized																				5,000,000
Series C Convertible Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Designated shares																							4,280
Preferred stock, par value (in Dollars per share)																				$ 0.0001
Stated value (in Dollars)																				$ 1,000
Convertible preferred stock, description																				share of Series C Convertible preferred stock was convertible, at any time and from time to time after the issuance date, at the option of the holder, into such number of shares of common stock determined by dividing the Series C Stated Value by the Series C Conversion Price.
Series C Conversion Price [Member]
Stockholders’ Equity [Line Items]
Conversion price per share (in Dollars per share)																				$ 15
Series A Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Share issued
Preferred Class B [Member]
Stockholders’ Equity [Line Items]
Shares outstanding
Conversion of Series C Convertible Preferred Stock into Common Stock [Member]
Stockholders’ Equity [Line Items]
Series C convertible preferred stock										227
Series C Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Series C convertible preferred stock										227
Convertible common stock										15,167
Series C Preferred Stock [Member] | Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Convertible common stock																					(227)
Repurchase of shares (in Dollars)
Agreed to sell investors shares
Over-Allotment Option [Member]
Stockholders’ Equity [Line Items]
Purchase additional shares							150,000
IPO [Member]
Stockholders’ Equity [Line Items]
Offering price per share (in Dollars per share)	$ 2.725
Aggregate gross proceeds (in Dollars)																	$ 2,000,002

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - Schedule of Stock Option Activities - Stock Options [Member] - USD ($)		6 Months Ended	12 Months Ended
	Dec. 31, 2021	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Stock Option Activities [Line Items]
Number of Options, Balance	12,849	28,849	28,849
Weighted Average Exercise Price, Balance	$ 3.89	$ 7.28	$ 7.28
Weighted Average Remaining Contractual Term (Years). Balance	2 years 6 months 14 days	5 years 2 months 8 days	5 years 3 months 21 days	6 years 3 months 21 days
Aggregate Intrinsic Value, Balance	$ 42,870	$ 8,610	$ 20,130
Number of Options, Granted		2,000		16,000
Weighted Average Exercise Price, Granted		$ 0.005		$ 10
Weighted Average Remaining Contractual Term (Years), Granted
Aggregate Intrinsic Value, Granted
Number of Options, Balance			28,849	28,849
Weighted Average Exercise Price, Balance		$ 7.82	$ 7.28	$ 7.28
Weighted Average Remaining Contractual Term (Years), Balance	2 years 6 months 14 days	5 years 2 months 8 days	5 years 3 months 21 days	6 years 3 months 21 days
Aggregate Intrinsic Value, Balance		$ 3,980	$ 8,610	$ 20,130
Number of Options, Exercisable		26,850	28,849
Weighted Average Exercise Price, Exercisable		$ 7.82	$ 7.28
Weighted Average Remaining Contractual Term (Years), Exercisable		5 years 2 months 8 days	5 years 3 months 21 days
Aggregate Intrinsic Value, Exercisable		$ 3,980	$ 8,610

Stockholders_ Equity (Details_2

Stockholders’ Equity (Details) - Schedule of Warrant Activities - Warrant [Member] - USD ($)			6 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 30, 2023
Schedule of Warrant Activities [Line Items]
Number of Warrants, Granted			1,020,276		57,500
Weighted Average Exercise Price, Granted			$ 2.04		$ 6.25
Weighted Average Remaining Contractual Term (Years), Granted					5 years
Aggregate Intrinsic Value, Granted
Number of Warrants, Exercisable	404,580		1,390,819	404,580
Weighted Average Exercise Price, Exercisable	$ 14.05		$ 5.58	$ 14.05
Weighted Average Remaining Contractual Term (Years), Exercisable			4 years 10 days	2 years 3 months 18 days
Aggregate Intrinsic Value, Exercisable
Number of Warrants, Ending	404,580	347,080	1,390,819	404,580	404,580
Weighted Average Exercise Price, Ending	$ 14.05	$ 15.5	$ 5.58	$ 14.05	$ 14.05
Weighted Average Remaining Contractual Term (Years) Ending	2 years 3 months 21 days	4 years 1 month 6 days	4 years 10 days	2 years 3 months 18 days	3 years 3 months 18 days
Aggregate Intrinsic Value, Ending

Concentrations (Details)

Concentrations (Details) - Revenue Benchmark [Member]	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Customer Concentration Risk [Member] | Customer Concentration [Member]
Concentrations [Line Items]
Concentration risk percentage			100%	100%
Customer Concentration Risk [Member] | One Licensee [Member]
Concentrations [Line Items]
Concentration risk percentage	100%	100%
Vendor Concentraion Risk [Member] | Vendor [Member]
Concentrations [Line Items]
Concentration risk percentage			100%	100%
Vendor Concentraion Risk [Member] | Two Licensor [Member]
Concentrations [Line Items]
Concentration risk percentage	100%	100%

Commitments and Contingencies_2

Commitments and Contingencies (Details)																		1 Months Ended														3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 28, 2024 USD ($)	Oct. 16, 2023 USD ($)	Oct. 16, 2023 GBP (£)	Aug. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Oct. 25, 2022 USD ($)	Oct. 13, 2022 USD ($)	Oct. 12, 2022 USD ($)	Oct. 12, 2022 USD ($)	Aug. 31, 2022 USD ($)	Jan. 27, 2022 USD ($) $ / shares shares	Dec. 29, 2021	Sep. 10, 2021 USD ($)	Sep. 01, 2021 USD ($)	Jun. 01, 2021 USD ($)	Apr. 12, 2021 USD ($) $ / shares shares	Jan. 05, 2021 USD ($) shares	Oct. 16, 2023 USD ($)	Oct. 16, 2023 GBP (£)	Sep. 30, 2023 USD ($)	Aug. 31, 2023 USD ($)	Feb. 28, 2023 USD ($)	Oct. 31, 2022 USD ($) shares	Oct. 25, 2022 USD ($)	Jul. 31, 2022 USD ($)	Feb. 28, 2022 USD ($)	Jan. 27, 2022 $ / shares shares	Nov. 30, 2021 USD ($)	Apr. 30, 2021 USD ($)	Feb. 17, 2021 USD ($)	Apr. 17, 2020 USD ($) shares	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 31, 2023 shares	Sep. 30, 2021 USD ($)
Commitments and Contingencies [Line Items]
Amortized deferred compensation					$ 8,474																												$ 8,474			$ 8,474
Research and development expenses																																$ 392,824	130,719		$ 774,889	333,632	$ 845,092	$ 1,286,434
UMB fee amount																																				2,500
License agreement expire																																			15 years		15 years
Percentage of sublicense income receivable																																			25%		25%
Prepaid expense and other current assets																																120,288			$ 120,288		$ 15,970	135,894
Sales of licensed products percentage																																			5%		5%
Sales																																			$ 50,000,000		$ 50,000,000
Cash																																3			3
Installments payable																																					81,474
Cash payments																																		$ 430,825
Remaining amount due																																					60,570
Amortization of the prepaid research and development fees																																			$ 0	215,412
Prepaid expense																																					182,980
Accrued expenses																																					$ 5,891
Percentage of estimate research																																			90%		90%
Joint venture interest rate																																			60%		60%
Professional fees																																386,465	570,295		$ 641,067	935,565	$ 1,726,061	1,496,687
Initial license fee																																50,000			$ 50,000
Percentage of net sales																																			2%
Royalty payment																																			$ 500,000
Percentage of license fee																																			5%
Unreimbursed Patent Expenses	$ 197,400																																								$ 197,400
Accounts payable	$ 197,400
Deferred revenue																																1,676			$ 1,676		26,612
Deferred revenue – current portion amounted																																72,102			72,102		72,102	72,102
Deferred revenue – long-term portion amounted																																757,629			757,629		793,680	865,782
Research remains to be billed																																			656,380
Research agreement																																			67,720		0
Total fee																																			654,510
Accounts payable related to this research agreement																																35,918			$ 35,918		$ 0
Expected Term [Member]
Commitments and Contingencies [Line Items]
Assumptions																																					2
Expected term																																			2 years
Research Agreements with Upperton Pharma Solutions [Member]
Commitments and Contingencies [Line Items]
Amortization of the prepaid research and development fees																																			$ 181,944
AmplifyBio Research Agreements [Member]
Commitments and Contingencies [Line Items]
Amortization of the prepaid research and development fees																																			119,340	0
License [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																																			75,000		$ 5,000	5,000
Initial license fee																																25,000			$ 25,000
Patent Products [Member]
Commitments and Contingencies [Line Items]
Percentage of net sales																																			4%
Eric Weisblum [Member]
Commitments and Contingencies [Line Items]
Base salary								$ 350,000	$ 350,000																						$ 120,000
Vested common stock shares (in Shares) | shares																															152,619
Signing bonus								100,000	100,000
Eric Weisblum [Member] | Minimum [Member]
Commitments and Contingencies [Line Items]
Base salary																																					120,000
Eric Weisblum [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Base salary																																					180,000
Mr. Weisblum [Member]
Commitments and Contingencies [Line Items]
Annual bonus								200,000	200,000
Paid bonus																				$ 200,000			$ 100,000
Daniel Ryweck [Member]
Commitments and Contingencies [Line Items]
Base salary								60,000																													$ 60,000
Dr. James Kuo [Member]
Commitments and Contingencies [Line Items]
Base salary											$ 30,000
Share granted (in Shares) | shares											16,000																16,000
Exercisable per share (in Dollars per share) | $ / shares											$ 10																$ 10
Expire date											Jan. 31, 2032																Jan. 31, 2032
Stock options (in Shares) | shares											6,000																6,000
Vests (in Shares) | shares																							5,000																	5,000
Stock option (in Shares) | shares																																			16,000		16,000
Fair value of stock option																																			$ 94,915		$ 94,915
Fair value of the unvested stock option																																			$ 94,915		94,915
Amortized deferred compensation																																					14,125	80,790
Deferred compensation balance																																					$ 0	14,125
Dr. James Kuo [Member] | Risk-Free interest Rate [Member]
Commitments and Contingencies [Line Items]
Assumptions																																					1.18
Risk-free interest rate																																			1.18%
Dr. James Kuo [Member] | Dividend Yield [Member]
Commitments and Contingencies [Line Items]
Assumptions																																					0
Expected dividend yield																																			0%
Dr. James Kuo [Member] | Expected Volatility [Member]
Commitments and Contingencies [Line Items]
Assumptions																																					117
Expected volatility																																			117%
Dr. James Kuo [Member] | Stock Options [Member]
Commitments and Contingencies [Line Items]
Amortized deferred compensation																																$ 0			$ 0
University of Maryland Baltimore [Member]
Commitments and Contingencies [Line Items]
UMB fee amount				$ 2,500	1,000																$ 2,500															1,000
Extension Fee																					2,500
University of Maryland Baltimore [Member] | Third Amendment [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																						2,500
University of Maryland Baltimore [Member] | Extension fee [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																						$ 1,000
University of Maryland Baltimore [Member] | License [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																					2,500	$ 1,000
Master Lincense Agreement [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																										$ 50,000
Commercial sale term																																			10 years		10 years
Percentage of sublicense income receivable																																			15%		15%
Due amount																																			$ 25,000		$ 25,000
Paid amount																										$ 50,000
Term year																										15 years						15 years			15 years
Prepaid expense and other current assets																																$ 5,000			$ 5,000		5,000	5,000
Prepaid expenses non-current																																53,125			$ 53,125		$ 55,625	60,625
Sales of licensed products percentage																																			3%		3%
Sales																																			$ 50,000,000		$ 50,000,000
License fees																																			419	419	838	838
Master Lincense Agreement [Member] | License [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																														$ 25,000					75,000		75,000
Customer Patent License Agreement with Aikido Pharma Inc [Member]
Commitments and Contingencies [Line Items]
Non-refundable cash payment																	$ 500,000																		$ 500,000		$ 500,000
Net sale percentage																																			2%		2%
Licensor share (in Shares) | shares																	500																		500		500
Aggregate of converted shares (in Shares) | shares																	625,000																		625,000		625,000
Revenue term																	15 years																		15 years		15 years
Common stock shares (in Shares) | shares																625,000
Per share (in Dollars per share) | $ / shares																$ 0.85
Trading price																$ 531,250
Equity investment																531,250
Deferred revenue																531,250																					$ 1,031,250
Cash																																500,000			$ 500,000		500,000
Securities received																																531,250			$ 531,250		531,250
Recognized revenues																																					68,750	68,750
Deferred revenue current																																					68,750	68,750
Deferred revenue long term																																					$ 756,250	825,000
Consideration fee payable percentage																																			110%		110%
Deferred revenue																$ 531,250																1,031,250			$ 1,031,250
Deferred revenue – current portion amounted																																68,750			68,750		$ 68,750
Deferred revenue – long-term portion amounted																																721,875			721,875		756,250
Customer Patent License Agreement with Aikido Pharma Inc [Member] | License Fee Revenues [Member]
Commitments and Contingencies [Line Items]
Deferred revenue					34,375																											34,375	34,375		34,375	34,375
Customer Sublicense Agreement with Aikido Pharma Inc [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																													$ 50,000						1,900,000		1,900,000
Recognized revenues																																					3,352	3,352
Deferred revenue current																																					3,352	3,352
Deferred revenue long term																																					37,430	40,782
Upfront license fees																																			$ 50,000		$ 50,000
First commercial sale																																			10 years		10 years
Agreement shall expire																																			15 years		15 years
Deferred revenue					$ 1,676																											181,746	$ 1,676		$ 181,746	1,676
Deferred revenue – current portion amounted																																3,352			3,352		$ 3,352
Deferred revenue – long-term portion amounted																																35,754			35,754		37,430
Investigator-Sponsored Study Agreement with University of Maryland, Baltimore [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																							$ 40,737
Installments payable																																					40,737
Sponsored study agreement																	$ 40,737																				40,737
Cash payments																																							40,737
Sponsored Research Agreement with The Regents of the University of California [Member]
Commitments and Contingencies [Line Items]
UMB fee amount															$ 342,850
Prepaid expense and other current assets																																						181,710	$ 100,570
Prepaid expense																																					0	10,857
Sponsored Research Agreement with Columbia University [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																					287,218	646,236
Cash payments							$ 430,825														$ 100,000														330,825		330,825
Amortization of the prepaid research and development fees																																			$ 0	71,427	$ 71,427	178,568
Sponsored research agreement, description																																			the Company shall pay a total of $1,436,082 to Columbia University for the support of the research according to the payment schedule as follows: (i) 30% at signing, (ii) 30% at four and half months after the start of the project, (iii) 30% at nine months after the start of the project and, (iv)10% at completion of the project.		the Company shall pay a total of $1,436,082 to Columbia University for the support of the research according to the payment schedule as follows: (i) 30% at signing, (ii) 30% at four and half months after the start of the project, (iii) 30% at nine months after the start of the project and, (iv)10% at completion of the project.
Accounts payable																																143,607			$ 143,607		$ 143,607
Accrued expenses																																0			0			143,607
Sponsored Research Agreement with Columbia University [Member] | License [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																																			2,500
Sponsored Research Agreement with University of Maryland, Baltimore [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																					0	187,090
Cash payments										$ 92,095				$ 92,095
Accounts payable and accrued expenses																																92,095			92,095		92,095	92,095
Research Agreement with Reprocell [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																			0	13,944	19,835	33,252
UMB fee amount						$ 41,306																		$ 41,306
Prepaid expense and other current assets																																						21,172
Accounts payable and accrued expenses																																61,945			61,945		34,525	20,134
Research Agreement with AmplifyBio [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																					71,204	241,288
Amortization of the prepaid research and development fees																																				32,849	182,980
Accounts payable and accrued expenses																																					5,891
Accounts payable and accrued expenses																																					0
Research Agreements with Upperton Pharma Solutions [Member]
Commitments and Contingencies [Line Items]
Research and development expenses																																					212,428
Amortization of the prepaid research and development fees																																				27,423
Aggregate total fee		$ 272,620	£ 216,210															$ 261,462	£ 242,932
Upperton Research Agreements [Member]
Commitments and Contingencies [Line Items]
Accounts payable and accrued expenses																																					34,525
Aggregate total fee																																					177,903
AmplifyBio Research Agreement [Member]
Commitments and Contingencies [Line Items]
UMB fee amount																																			958,700		229,000
Prepaid expense and other current assets																																					$ 182,980
Amortization of the prepaid research and development fees																																			217,664	0
Zylö Therapeutics, Inc. [Member]
Commitments and Contingencies [Line Items]
Joint venture interest rate																																					49%
Amended Service Agreement [Member]
Commitments and Contingencies [Line Items]
Payments to the university													$ 5,000
Professional fees																																			10,000	$ 15,000	$ 25,000	25,000
Sever Pharma [Member]
Commitments and Contingencies [Line Items]
Research remains to be billed																																			452,241
Research Agreement with Sever Pharma Solutions [Member]
Commitments and Contingencies [Line Items]
Amortization of the prepaid research and development fees																																			$ 18,472
Joint Venture Agreement with Zylö Therapeutics, Inc [Member]
Commitments and Contingencies [Line Items]
Joint venture interest rate																																			49%
First Payment [Member] | Sponsored Research Agreement with Columbia University [Member]
Commitments and Contingencies [Line Items]
Cash payments																												$ 430,825
Second Payment [Member] | Sponsored Research Agreement with Columbia University [Member]
Commitments and Contingencies [Line Items]
Cash payments																									$ 430,825
Third Payment [Member]
Commitments and Contingencies [Line Items]
Initial license fee																																50,000			$ 50,000
Sublicense Agreement [Member]
Commitments and Contingencies [Line Items]
Prepaid expense and other current assets																																					838	838
Prepaid expenses non-current																																					9,358	$ 10,196
Sublicense income, percentage																													25%
Sublicense agreement amount paid																													$ 12,500
Sublicense Agreement [Member] | Master Lincense Agreement [Member]
Commitments and Contingencies [Line Items]
Prepaid expense and other current assets																																838			838		838
Prepaid expenses non-current																																$ 8,939			8,939		9,358
JV Agreement [Member]
Commitments and Contingencies [Line Items]
Contribution cost																																			$ 225,000		$ 225,000
Joint venture interest rate																																			51%		51%
Option expired term																																			24 months		24 months
Sponsored Study Agreement [Member]
Commitments and Contingencies [Line Items]
Installments payable																	81,474
Sponsored Study Agreement [Member] | Investigator-Sponsored Study Agreement with University of Maryland, Baltimore [Member]
Commitments and Contingencies [Line Items]
Installments payable																	$ 40,737
Board of Directors [Member]
Commitments and Contingencies [Line Items]
Risk-free interest rate												0.75%
Expected dividend yield												0%
Expected volatility												115%
Board of Directors [Member] | Eric Weisblum [Member]
Commitments and Contingencies [Line Items]
Annual bonus								$ 350,000	$ 350,000
Series M Convertible Preferred [Member]
Commitments and Contingencies [Line Items]
Convertible preferred stock (in Shares) | shares																500

Commitments and Contingencies_3

Commitments and Contingencies (Details) - Schedule of Milestone Payments - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Payment One [Member]
Schedule of Milestone Payments [Line Items]
Milestone	Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product	Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product
Payment	$ 50,000	$ 50,000
Payment Two [Member]
Schedule of Milestone Payments [Line Items]
Milestone	Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product	Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product
Payment	$ 100,000	$ 100,000
Payment Three [Member]
Schedule of Milestone Payments [Line Items]
Milestone	Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product	Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product
Payment	$ 250,000	$ 250,000
Payment Four [Member]
Schedule of Milestone Payments [Line Items]
Milestone	Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product	Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product
Payment	$ 500,000	$ 500,000
Payment Five [Member]
Schedule of Milestone Payments [Line Items]
Milestone	Achievement of First Commercial Sale of Licensed Product	Achievement of First Commercial Sale of Licensed Product
Payment	$ 1,000,000	$ 1,000,000

Commitments and Contingencies_4

Commitments and Contingencies (Details) - Schedule of Minimum Annual Royalty Payments - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Payment One [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Prior to First Commercial Sale	Prior to First Commercial Sale
Minimum Annual Royalty
Payment Two [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Year of First Commercial Sale	Year of First Commercial Sale
Minimum Annual Royalty
Payment Three [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	First calendar year following the First Commercial Sale	First calendar year following the First Commercial Sale
Minimum Annual Royalty	$ 25,000	$ 25,000
Payment Four [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Second calendar year following the First Commercial Sale	Second calendar year following the First Commercial Sale
Minimum Annual Royalty	$ 25,000	$ 25,000
Payment Five [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Third calendar year following the First Commercial Sale	Third calendar year following the First Commercial Sale
Minimum Annual Royalty	$ 100,000	$ 100,000

Commitments and Contingencies_5

Commitments and Contingencies (Details) - Schedule of Shall Pay UMB Fees - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Payment One [Member]
Schedule of Shall Pay UMB Fees [Line Items]
Payment	$ 92,095	$ 92,095
Payment description	Paid upon execution of the July 2021 Sponsored Research Agreement	Paid upon execution of the July 2021 Sponsored Research Agreement
Payment Two [Member]
Schedule of Shall Pay UMB Fees [Line Items]
Payment	$ 92,095	$ 92,095
Payment description	Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement	Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement
Payment Three [Member]
Schedule of Shall Pay UMB Fees [Line Items]
Payment	$ 92,095	$ 92,095
Payment description	Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement	Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement

Commitments and Contingencies_6

Commitments and Contingencies (Details) - Schedule of Future Amounts Due Under Sponsored Study and Research Agreements - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Future Amounts Due Under Sponsored Study and Research Agreements [Abstract]
2024	$ 1,878,928	$ 725,244
Total	$ 1,878,928	$ 725,244

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2018
Income Taxes [Abstract]
Net operating loss carryforward	$ 9,231,000		$ 9,231,000
Valuation allowance percentage	100%
Net operating loss carry forwards to reduce the asset	$ 0
Valuation allowance increased	$ 988,177	$ 940,858

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule of Income Taxes at the Effective Statutory Rate and the Provision for Income Taxes - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Schedule of Income Taxes at the Effective Statutory Rate and the Provision for Income Taxes [Abstract]
Income tax benefit at U.S. statutory rate					$ (777,143)	$ (820,796)
Income tax benefit – state					(240,544)	(254,056)
Permanent differences					29,510	133,994
Change in valuation allowance					988,177	940,858
Total provision for income tax

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of Net Deferred Tax Asset - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Asset:
Net operating loss carryforward	$ 2,538,565	$ 1,550,388
Total deferred tax asset before valuation allowance	2,538,565	1,550,388
Valuation allowance	(2,538,565)	(1,550,388)
Net deferred tax asset

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)					3 Months Ended	4 Months Ended	6 Months Ended
	Jul. 31, 2024	Jul. 18, 2024	Jun. 04, 2024	Apr. 23, 2024	Mar. 23, 2024	Apr. 23, 2024	Jun. 30, 2024	Jan. 09, 2024
Subsequent Events [Line Items]
Stock repurchase								$ 1,000,000
Purchase price per share (in Dollars per share)			$ 2.1799
Aggregate common warrants shares (in Shares)			917,432
Warrants exercise price (in Dollars per share)			$ 0.0001
Net proceeds						$ 1,673,216
Offering costs				$ 260,950		260,950
Legal expenses							$ 65,833
Cash fee equal percentage				7.50%
Percentage of management fee				1%
Aggregate number of shares				7.50%
Management fee			$ 170,000
Purchase Price (in Shares)			34,037
Exercise price percentage			125%
Placement Agent [Member]
Subsequent Events [Line Items]
Proceeds from offering							2,100,005
Net proceeds							1,780,555
Offering costs							269,450
Legal expenses						50,000
Purchase Price (in Shares)			68,807
Non accountable expenses						25,000
Clearing fees						$ 15,950
Common Warrant Shares [Member]
Subsequent Events [Line Items]
Aggregate common warrants shares (in Shares)			917,432
Warrants exercise price (in Dollars per share)			$ 2.06
Purchase Price (in Shares)			1
Common Warrant Shares [Member] | Placement Agent [Member]
Subsequent Events [Line Items]
Legal expenses							$ 50,000
Subsequent Event [Member]
Subsequent Events [Line Items]
Stock repurchase								$ 1,000,000
Investors amount (in Shares)		763,638
Purchase price per share (in Dollars per share)		$ 2.75
Aggregate common warrants shares (in Shares)	763,638
Warrants exercise price (in Dollars per share)	$ 2.75
Legal expenses		$ 50,000
Management fee		$ 178,500
Exercise price percentage		125%
Per share (in Dollars per share)		$ 3.4375
Non accountable expenses		$ 25,000
Clearing fees		$ 15,950
Common Stock [Member] | Subsequent Event [Member]
Subsequent Events [Line Items]
Share purchased (in Shares)					62,607
Share purchased cost					$ 95,682
Purchase Price (in Shares)		57,273

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details) - Schedule of Potentially Dilutive Shares - shares	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Schedule of Potentially Dilutive Shares [Line Items]
Potentially dilutive shares	1,417,669	433,430	433,429	433,429
Stock Options [Member]
Schedule of Potentially Dilutive Shares [Line Items]
Potentially dilutive shares	26,850	28,850	28,849	28,849
Warrants [Member]
Schedule of Potentially Dilutive Shares [Line Items]
Potentially dilutive shares	1,390,819	404,580	404,580	404,580

Fair Value of Financial Instr_6

Fair Value of Financial Instruments and Fair Value Measurements (Details) - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis - Fair Value, Recurring [Member] - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Level 1 [Member]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Short-term investments	$ 3,102,240	$ 4,140,880
Level 2 [Member]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Short-term investments
Level 3 [Member]
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Short-term investments

Fair Value of Financial Instr_7

Fair Value of Financial Instruments and Fair Value Measurements (Details) - Schedule of Summarizes Activity in the Company’s Short Term Investments at Fair Value - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Short-Term Investments [Abstract]
Balance, beginning of year			$ 4,140,880
Additions			97,452	10,352,410
Sales at original cost			(1,149,320)	(517,821)
Net realized loss on short-term investments	$ (1,259)	$ (2,179)	(1,025)	(2,179)		$ (104,700)
Unrealized gain (loss)			14,253	(3,281)
Balance, end of year	$ 3,102,240	$ 9,829,129	$ 3,102,240	$ 9,829,129	$ 4,140,880

Note Receivable (Details) - S_2

Note Receivable (Details) - Schedule of Note Receivable - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Note Receivable [Abstract]
Principal amount of note receivable	$ 60,000	$ 60,000
Accrued interest receivable	9,600	9,600	$ 6,010
Subtotal	69,600	69,600	66,010
Less: allowance for doubtful accounts	(69,600)	(69,600)
Note receivable – current			$ 66,010

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Intangible Assets [Line Items]
Intangible assets	$ 247,400

Intangible Assets (Details) - S

Intangible Assets (Details) - Schedule of Intangible Asset - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Intangible Asset [Abstract]
License, Useful life	20 years
License	$ 247,400
Less: accumulated amortization
Total	$ 247,400

Intangible Assets (Details) -_2

Intangible Assets (Details) - Schedule of Intangible Assets Finite Lives Attributable to Future Periods	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2025	$ 12,370
2026	12,370
2027	12,370
2028	12,370
2029	12,370
Thereafter	185,550
Total	$ 247,400

Stockholders_ Equity (Details_3

Stockholders’ Equity (Details) - Schedule of Stock Option Activities - Stock Options [Member] - USD ($)			6 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 30, 2021
Schedule of Stock Option Activities [Line Items]
Number of Options, Balance (in Shares)	28,850
Weighted Average Exercise Price, Balance	$ 7.28	$ 3.89	$ 7.28	$ 7.28
Weighted Average Remaining Contractual Term (Years). Balance	5 years 3 months 21 days
Aggregate Intrinsic Value, Balance (in Dollars)	$ 8,610		$ 3,980	$ 8,610	$ 20,130	$ 42,870
Number of Options, Expired (in Shares)			(2,000)		(16,000)
Weighted Average Exercise Price, Expired			$ 0.005		$ 10
Weighted Average Remaining Contractual Term (Years), Expired
Aggregate Intrinsic Value, Expired
Number of Options, Balance (in Shares)			26,850
Weighted Average Exercise Price, Balance	$ 7.28		$ 7.82	$ 7.28	$ 7.28
Weighted Average Remaining Contractual Term (Years), Balance		2 years 6 months 14 days	5 years 2 months 8 days	5 years 3 months 21 days	6 years 3 months 21 days
Number of Options, Exercisable (in Shares)	28,849		26,850	28,849
Weighted Average Exercise Price, Exercisable	$ 7.28		$ 7.82	$ 7.28
Weighted Average Remaining Contractual Term (Years), Exercisable			5 years 2 months 8 days	5 years 3 months 21 days
Aggregate Intrinsic Value, Exercisable (in Dollars)	$ 8,610		$ 3,980	$ 8,610

Stockholders_ Equity (Details_4

Stockholders’ Equity (Details) - Schedule of Warrant Activities - Warrant [Member] - USD ($)			6 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Warrant Activities [Line Items]
Number of Warrants, Beginning Balance	404,580		404,580	404,580	347,080
Weighted Average Exercise Price,Beginning Balance	$ 14.05		$ 14.05	$ 14.05	$ 15.5
Weighted Average Remaining Contractual Term (Years).Beginning Balance	2 years 3 months 21 days	4 years 1 month 6 days	4 years 10 days	2 years 3 months 18 days	3 years 3 months 18 days
Aggregate Intrinsic Value, Beginning Balance
Number of Warrants, Granted			1,020,276		57,500
Weighted Average Exercise Price, Granted			$ 2.04		$ 6.25
Weighted Average Remaining Contractual Term (Years), Granted					5 years
Aggregate Intrinsic Value, Granted
Number of Warrants, Exercised			(34,037)
Weighted Average Exercise Price, Exercised			$ 0.0001
Number of Warrants, Ending	404,580	347,080	1,390,819	404,580	404,580
Weighted Average Exercise Price, Ending	$ 14.05	$ 15.5	$ 5.58	$ 14.05	$ 14.05
Weighted Average Remaining Contractual Term (Years) Ending	2 years 3 months 21 days	4 years 1 month 6 days	4 years 10 days	2 years 3 months 18 days	3 years 3 months 18 days
Aggregate Intrinsic Value, Ending
Number of Warrants, Exercisable	404,580		1,390,819	404,580
Weighted Average Exercise Price, Exercisable	$ 14.05		$ 5.58	$ 14.05
Weighted Average Remaining Contractual Term (Years), Exercisable			4 years 10 days	2 years 3 months 18 days
Aggregate Intrinsic Value, Exercisable

Commitments and Contingencies_7

Commitments and Contingencies (Details) - Schedule of Milestone Payments - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Payment One [Member]
Commitments and Contingencies (Details) - Schedule of Milestone Payments [Line Items]
Milestone	Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product	Filing of an Investigational New Drug (or any foreign equivalent) for a Licensed Product
Payment	$ 50,000	$ 50,000
Payment Two [Member]
Commitments and Contingencies (Details) - Schedule of Milestone Payments [Line Items]
Milestone	Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product	Dosing of first patient in a Phase 1 Clinical Trial of a Licensed Product
Payment	$ 100,000	$ 100,000
Payment Three [Member]
Commitments and Contingencies (Details) - Schedule of Milestone Payments [Line Items]
Milestone	Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product	Dosing of first patient in a Phase 2 Clinical Trial of a Licensed Product
Payment	$ 250,000	$ 250,000
Payment Four [Member]
Commitments and Contingencies (Details) - Schedule of Milestone Payments [Line Items]
Milestone	Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product	Receipt of New Drug Application (“NDA”) (or foreign equivalent) approval for a Licensed Product
Payment	$ 500,000	$ 500,000
Payment Five [Member]
Commitments and Contingencies (Details) - Schedule of Milestone Payments [Line Items]
Milestone	Achievement of First Commercial Sale of Licensed Product	Achievement of First Commercial Sale of Licensed Product
Payment	$ 1,000,000	$ 1,000,000

Commitments and Contingencies_8

Commitments and Contingencies (Details) - Schedule of Minimum Annual Royalty Payments - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Payment One [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Prior to First Commercial Sale	Prior to First Commercial Sale
Minimum Annual Royalty
Payment Two [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Year of First Commercial Sale	Year of First Commercial Sale
Minimum Annual Royalty
Payment Three [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	First calendar year following the First Commercial Sale	First calendar year following the First Commercial Sale
Minimum Annual Royalty	$ 25,000	$ 25,000
Payment Four [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Second calendar year following the First Commercial Sale	Second calendar year following the First Commercial Sale
Minimum Annual Royalty	$ 25,000	$ 25,000
Payment Five [Member]
Schedule of Minimum Annual Royalty Payments [Line Items]
Years	Third calendar year following the First Commercial Sale	Third calendar year following the First Commercial Sale
Minimum Annual Royalty	$ 100,000	$ 100,000

Commitments and Contingencies_9

Commitments and Contingencies (Details) - Schedule of Shall Pay UMB Fees - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Payment One [Member]
Commitments and Contingencies (Details) - Schedule of Shall Pay UMB Fees [Line Items]
Payment	$ 92,095	$ 92,095
Payment description	Paid upon execution of the July 2021 Sponsored Research Agreement	Paid upon execution of the July 2021 Sponsored Research Agreement
Payment Two [Member]
Commitments and Contingencies (Details) - Schedule of Shall Pay UMB Fees [Line Items]
Payment	$ 92,095	$ 92,095
Payment description	Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement	Paid six months after the start of project work as outlined in the July 2021 Sponsored Research Agreement
Payment Three [Member]
Commitments and Contingencies (Details) - Schedule of Shall Pay UMB Fees [Line Items]
Payment	$ 92,095	$ 92,095
Payment description	Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement	Upon completion of the project work as outlined in the July 2021 Sponsored Research Agreement

Commitments and Contingencie_10

Commitments and Contingencies (Details) - Schedule of Future Amounts Due Under Sponsored Study and Research Agreements - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Future Amounts Due Under Sponsored Study and Research Agreements [Abstract]
2025	$ 1,878,928	$ 725,244
Total	$ 1,878,928	$ 725,244