Full Press Release Details
Provides Strategic and Business Update
Fla - November 19, 2007 - Dyadic International, Inc. (AMEX: DIL) announced
that it has made progress in the Gordian Group-assisted value maximization
process and has taken steps to ensure that the Company is not disrupted during
previously announced, on October 23, 2007, the Company engaged Gordian Group,
LLC, to serve as the Company's investment banker and financial adviser, to
assist the Company in evaluating, exploring and, if deemed appropriate, pursuing
and implementing certain strategic and financial options that may be available
to the Company, including a possible sale, merger, restructuring,
recapitalization, reorganization or other strategic or financial
transaction. Since that time, the Company has commenced evaluating its
available options, is preparing to implement a process of soliciting
indications of interest from qualified third parties, and anticipates that
by year-end 2007 it will have reached conclusions on one or more specific
courses of action and will have commenced taking steps to implement its
decisions. Notwithstanding this, no conclusion as to any specific option
or transaction has been reached, nor has any specific timetable been fixed
accomplishing this effort, and there can be no assurance that any
strategic, financial or other option or transaction will be presented,
implemented or consummated.
the Company is facing many challenges, we believe that Dyadic's financial
resources are sufficient to fund the Company's operations at least through
and implement the Gordian Group-assisted value maximization process,"
commented Wayne Moor, President and CEO of Dyadic. "In
meantime, Dyadic continues to seek to pursue its strategic business plan.
Company also continues to meet its program objectives in its collaborations
Abengoa Bioenergy, Nedalco, and other partners, as well as in its self-funded
R&D programs. Notably, year to date, top-line sales from Dyadic's U.S. based
industrial enzyme business are comparable to the U.S. based enzyme sales
effort to guard against potential disruption to the Company due to the loss
personnel or their commitment to Dyadic while the Company continues operations
and explores a potential sale, business combination or restructuring, the
Company has adopted a Retention Bonus Plan for its non-management employees
a Change of Control Transaction Bonus Plan for its executive and management
employees, intended to retain the services of and incentivize its non-management
and management employees during the Gordian-assisted value maximization
believe these bonus plans will help Dyadic retain employees and protect
shareholder value as the Company evaluates and pursues strategic alternatives
now being identified by our investment bankers," commented Harry Rosengart,
Chairman of the Board of Dyadic.
November 19, 2007, the Company filed with the Securities and Exchange Commission
a Current Report on Form 8-K, which includes a more detailed discussion of
above-mentioned items, other matters and related exhibits.
International, Inc. is a biotechnology company that uses its patented and
proprietary technologies to conduct research and development activities for
discovery, development, and manufacture of products and enabling solutions
the bioenergy, industrial enzyme and pharmaceutical industries.
Statement for Forward-Looking Statements
statements made in this press release may be considered "forward-looking
statements." These forward-looking statements are based upon current
expectations and involve a number of assumptions, risks and uncertainties
could cause our actual results, performance or achievements to be materially
different from such forward-looking statements. In view of such risks and
uncertainties, investors and stockholders should not place undue reliance
forward-looking statements. Such statements speak only as of the date of
release, and we undertake no obligation to update any forward looking statements
made herein. For a discussion of assumptions, risks and uncertainties identified
by the Company, please see our filings from time to time with the Securities
Exchange Commission, which are available free of charge on the SEC's web
http://www.sec.gov, including our Annual Report on Form 10-KSB for the year
ended December 31, 2006, and our subsequent filings with the
Relations Counsel to Dyadic International, Inc.
Berkman, 310-826-5051