Silo issues 2,100,000 shares for QwikAgents software and domains

Silo Pharma, Inc. (Nasdaq: SILO) reported in a Form 8-K filed April 2, 2026 that it had agreed to buy certain software of a web-based application marketed as QwikAgents, along with the domain names qwikagents.com, qwikagents.ai and qwikagents.co. The company issued 2,100,000 shares of its common stock to the seller, Many Ads Inc. The 8-K reports an event dated March 30, 2026.

The filing describes an acquisition of assets paid for in stock. It does not describe a cash financing, and it names no underwriter or placement agent.

The terms

The filing says the seller agreed to sell, and the company agreed to buy, the purchased assets. Those are the software of the QwikAgents application and the three domain names. The agreement contains representations, warranties and covenants that are customary for agreements of its type. Many Ads also agreed to indemnify Silo for any misrepresentation or breach, for infringement of third-party rights by any portion of the software, and for acts of gross negligence, fraud or intentional misconduct by the seller.

The shares were offered and sold to the seller in reliance on Section 4(a)(2) of the Securities Act of 1933 and the rules under it. The 8-K does not describe a lock-up, a registration right or any other restriction on the shares.

The filing contains a date discrepancy. Item 1.01 says the company entered into the agreement on July 29, 2025. The exhibit list describes the agreement as an Asset Purchase Agreement dated March 31, 2026, filed as Exhibit 10.1.

What the company does

Silo's annual report for 2025, filed March 27, 2026, describes the company as a developmental stage biopharmaceutical and cryptocurrency company. Its lead program, SPC-15, is an intranasal treatment for PTSD and stress-induced anxiety disorders that the company says may qualify for the FDA's 505(b)(2) pathway. SP-26 is a time-release ketamine-based implant for fibromyalgia and chronic pain. Two preclinical programs complete the list, SPC-14 for Alzheimer's disease and SPU-16 for central nervous system disorders, initially targeting multiple sclerosis.

The annual report says the company holds exclusive global rights to SPC-15 under a license agreement with Columbia University that took effect on July 1, 2024. It also describes a license agreement with the University of Maryland, Baltimore, for a ketamine polymer implant.

Financial position

The annual report shows research and development expense of $2.2 million for 2025, compared with $2.4 million for 2024. It reports a net loss of $4.2 million for 2025 and $4.4 million for 2024. Cash from operations was negative $4.7 million in 2025 and negative $3.8 million in 2024. Year-end cash and cash equivalents were $3.9 million at the end of 2024. The annual report is the latest financial source used for this story.

The annual report also describes the soft mist nasal spray technology licensed from Medspray Pharma BV for delivering SPC-15, under an agreement dated November 15, 2023. It says the company submitted a pre-IND briefing package and meeting request to the FDA for SPC-15 on June 4, 2024.

The risks ahead

The 8-K puts no value on the 2,100,000 shares or on the purchased assets, and it does not say how a web application fits a drug pipeline. Paying in stock adds shares without bringing in cash. Silo has almost no revenue: $72,102 in both 2025 and 2024, against a net loss of $4.2 million and cash used in operations of $4.7 million in 2025.

The drug work is early. The annual report says a pre-IND briefing package and meeting request for SPC-15 went to the FDA in June 2024. The sources show no investigational new drug application and no human data, and they describe the 505(b)(2) pathway only as one the drug may qualify for.

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