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Dyadic International Reports First Quarter 2013 Financial Results

t Assets:Cash and Cash Equivalents$


3,990,062Restricted Cash186,554192,355Accounts Receivable, Net1,417,6021,260,798License Fee Receivable2,500,0003,500,000Inventory, Net1,998,9212,765,187Prepaid Expenses and Other Current Assets242,443237,389Total Current Assets10,457,46011,945,791Fixed Assets, Net434,360393,860Intangible Assets, Net521,138525,224Other Assets16,17316,173$


12,881,048LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities:Accounts Payable$


1,687,177Accrued Expenses384,341412,483Accrued Interest Payable170,8331,905Note Payable to Stockholder1,424,9411,424,941Convertible Subordinated Debt6,818,000-Deferred Research and Development Obligation493,169567,400Total Current Liabilities10,667,9094,093,906Convertible Subordinated Debt-7,000,00010,667,90911,093,906COMMITMENTS AND CONTINGENCIESStockholders' Equity:Preferred Stock, $.0001 Par Value:Authorized Shares – 5,000,000; None Issued and Outstanding--Common Stock, $.001 par value,Authorized Shares – 100,000,000; Issued and Outstanding – 32,126,245 and 31,656,245, Respectively32,12631,656Additional Paid-in Capital80,281,56779,847,761Accumulated Deficit(79,552,471)(78,092,275)Total Stockholders' Equity761,2221,787,142$


12,881,048 DYADIC INTERNATIONAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended March 31, 20132012 (Unaudited)  (Unaudited) Operating Activities Net (Loss) 



(780,935) Adjustments to Reconcile Net (Loss) to Net CashProvided By (Used in) Operating Activities:  Depreciation and Amortization of Fixed Assets 47,66852,534 Amortization of Intangible and Other Assets 12,14612,131 Recovery of Allowance for Doubtful Accounts (15,000)- Increase in Inventory Reserve 108,000- Compensation Expe

SOURCE Dyadic International, Inc.
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