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

9,731,5637,790,458COMMITMENTS AND CONTINGENCIESStockholders’ Equity (Deficit):Preferred Stock, $.0001 Par Value:Authorized Shares – 5,000,000; None Issued and Outstanding--Common Stock, $.001 par value,Authorized Shares – 100,000,000; Issued and Outstanding  – 31,427,495 and 31,138,120, Respectively31,42831,138Additional Paid-in Capital78,219,58077,101,690Accumulated Deficit(78,255,036)(74,698,211)(4,028)2,434,617$

9,727,535$

10,225,075DYADIC INTERNATIONAL, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine Months Ended  September 30, 2011 2010 (Unaudited) (Unaudited) Operating ActivitiesNet (Loss)

$

(3,556,825)$

(3,916,214)Adjustments to Reconcile Net (Loss) to Net Cash (Used In) Operating Activities:Depreciation and Amortization of Fixed Assets193,128230,999Amortization of Intangible and Other Assets23,67511,465Reduction of Allowance for Doubtful Accounts(50,011)(111,399)Reduction of Inventory Reserve(75,389)(363,795)Compensation Expense on Stock Option Grants1,068,374668,154Stock Issued for Financial Services-63,000Gain on Reduction of Accrued Stockholder  Litigation-(410,000)Changes in Operating Assets and Liabilities:Accounts Receivable(17,665)344,493Inventory155,558248,567Prepaid Expenses and Other Current Assets(10,942)129,288Accounts Payable(602,044)(197,463)Accrued Expenses18,902(222,143)Accrued Interest Payable(31,452)6,253Accrued Stockholder Litigation-(2,840,000)Deferred Research and Development Obligation155,648-Income Taxes Payable-1,238Net Cash (Used In) Operating Activities(2,729,043)(6,357,557)Investing ActivitiesPurchases of Fixed Assets(80,412)(166,446)Cost of Patents(126,331)(81,228)Restricted Cash(9,546)12,036Net Cash (Used In) Investing Activities(216,289)(235,638)Financing ActivitiesProceeds from Issuance of Convertible Subordinated Debt2,400,0004,000,000Proceeds from Stock Warrant Exercises15,00016,876Proceeds from Stock Option Exercises34,8
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SOURCE Dyadic International, Inc.
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