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Dyadic International Reports 2010 Third Quarter Financial Results
Date:11/15/2010

ounts(111,399)-Reduction of Inventory Reserve(363,795)(645,961)Compensation Expense on Stock Option Grants668,15494,568Stock Issued for Financial Services63,000-Stock Issued for Rent-5,000Gain on Reduction of Accrued Stockholder Litigation(410,000)-Changes in Operating Assets and Liabilities:Accounts Receivable344,49331,817Inventory248,5671,229,629Prepaid Expenses and Other Current Assets129,287101,407Other Assets1101,999Accounts Payable(197,463)(592,049)Accrued Expenses(222,143)19,257Accrued Interest Payable to Stockholder6,253(143,977)Accrued Stockholder Litigation(2,840,000)-Deferred Research and Development Obligations-(3,207,863)Income Taxes Payable1,238(7,646)Net Cash Provided By (Used In) Operating Activities(6,357,557)7,454,273Investing ActivitiesPurchases of Fixed Assets(166,446)(80,361)Patent Costs(81,228)-Restricted Cash12,036(20,124)Net Cash (Used In) Investing Activities(235,638)(100,485)Financing ActivitiesRepayment of Note Payable to Stockholder-(1,000,000)Proceeds from Issuance of Convertible Subordinated Debt4,000,000-Proceeds from Stock Warrant Exercises16,876-Proceeds from Issuance of Common Stock-27,083Proceeds from Stock Option Exercises31,19716,050Net Cash Provided By (Used In) Financing Activities4,048,073(956,867)Net Increase (Decrease) in Cash and Cash Equivalents(2,545,122)6,396,921Cash and Cash Equivalents at Beginning of Period8,419,9342,826,542Cash and Cash Equivalents at End of Period

$

5,874,812$

9,223,463Supplemental Cash Flow Information:Cash Paid for Interest

$

126,404$

304,166
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SOURCE Dyadic International, Inc.
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