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Dyadic International Reports 2011 Third Quarter Financial Results
Date:11/3/2011

0,746266,161Research and Development 910,597920,444288,480271,809Foreign Currency Exchange Losses (Gains), Net6,183137,85287,527(122,691)Total Expenses6,077,2615,537,0921,987,6981,521,176(Loss) from Operations(3,222,341)(4,084,300)(1,203,281)(1,181,917)Other Income (Expense):Interest Income8,38846,0031,7149,992Interest Expense(342,872)(132,657)(116,135)(67,591)Gain on Reduction of Accrued Stockholder Litigation-410,000--Other-(155,260)-(155,503)Total Other Income (Expense)(334,484)168,086(114,421)(213,102)Net (Loss)

$

(3,556,825)

$

(3,916,214)

$

(1,317,702)

$

(1,395,019)Net (Loss) per Common ShareBasic

$

(0.11)

$

(0.13)

$

(0.04)

$

(0.04)Diluted

$

(0.11)

$

(0.13)

$

(0.04)

$

(0.04)Weighted Average Common Shares Used in Calculating Net (Loss) Per Share:Basic31,317,55330,971,29631,413,61431,063,147Diluted31,317,55330,971,29631,413,61431,063,147DYADIC INTERNATIONAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETSSeptember 30,
2011December 31,
2010ASSETS(Unaudited)Current Assets:Cash and Cash Equivalents

$

4,039,753$

4,535,279Restricted Cash256,628247,082Accounts Receivable, Net1,344,2501,276,574Inventory, Net2,702,2642,782,433Prepaid Expenses and Other Current Assets347,631336,638Total Current Assets8,690,5269,178,006Fixed Assets, Net606,445719,161Intangible Assets, Net413,634310,978Other Assets16,93016,930$

9,727,535$

10,225,075LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)Current Liabilities:Accounts Payable

$

1,199,079$

1,801,123Accrued Expenses436,949417,996Accrued Interest Payable  114,778146,230Deferred Research and Development Obligation155,648-Note Payable to Stockholder1,424,9411,424,941Income Taxes Payable168168Total Current Liabilities3,331,5633,790,458Convertible Subordinated Debt6,400,0004,000,000
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SOURCE Dyadic International, Inc.
Copyright©2010 PR Newswire.
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