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Dyadic International Reports First Quarter 2013 Financial Results
Date:5/15/2013

t Assets:Cash and Cash Equivalents$

4,111,940$

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$

11,429,131$

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

1,376,625$

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, $.001 par value,Authorized Shares – 100,000,000; Issued and Outstanding – 32,126,245 and 31,656,245, Respectively32,12631,656Additional Paid-in Capital80,281,56779,847,761Accumulated Deficit(79,552,471)(78,092,275)Total Stockholders' Equity761,2221,787,142$

11,429,131$

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) 

$

(1,460,196)$

(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
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SOURCE Dyadic International, Inc.
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