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Dyadic International Reports Profitable 2012 Full Year Financial Results
Date:3/7/2013

MENTS AND CONTINGENCIESStockholders' Equity (Deficit):Preferred Stock, $.0001 Par Value:Authorized Shares – 5,000,000; None Issued and Outstanding--Common Stock, $.001 Par Value,Authorized Shares – 100,000,000; Issued and Outstanding – 31,656,245 and 31,448,745, Respectively31,65631,449Additional Paid-In Capital79,847,76178,608,586Stock to be Issued-3,750Accumulated Deficit(78,092,275)(79,441,772)Total Stockholders' Equity (Deficit)1,787,142(797,987)$

12,881,048

$

10,303,877 DYADIC INTERNATIONAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSYear Ended December 31,20122011Operating ActivitiesNet Income (Loss)1,349,497(4,743,561)Adjustments to Reconcile Net Income (Loss) to Net Cash  Provided By (Used In) Operating Activities:Depreciation and Amortization of Fixed Assets204,176247,350Amortization of Intangible and Other Assets52,30537,773Increase (Decrease) in Allowance for Doubtful Accounts320,573(61,968)Increase (Decrease) in Inventory Reserve245,000(75,389)Compensation Expense on Stock Option Grants1,198,5591,454,214Change in Operating Assets and LiabilitiesAccounts Receivable193,402(436,231)License Fee Receivable(3,500,000)-Inventory266,195(418,560)Prepaid Expenses and Other Current Assets43,42355,826Other Assets-757Accounts Payable(348,076)264,585Accrued Expenses(26,557)19,723Accrued Interest Payable(171,591)27,266Deferred Research and Development Obligation538,266-Income Taxes Payable-(168)Net Cash Provided by (Used In) Operating Activities365,172(3,628,383)Investing ActivitiesPurchases of Fixed Assets(45,815)(80,410)Patent Costs(80,144)(224,180)Restricted Cash22,02132,706Net Cash (Used In) Investing Activities(103,938)(271,884)Financing ActivitiesProceeds from Issuance of Convertible Subordinated Debt-3,000,000Proceeds from Stock Warrant Exercises-15,000Proceeds from Stock Option Exercises37,07341,743Net Cash Provided by Financing Activities37,0733,056,743Net Increase (Decrease) in Cash and Cas
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SOURCE Dyadic International, Inc.
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