Full Press Release Details
Amex Listing Will Be Continued Pursuant To An Extension
Fla - July 9, 2007 - Dyadic International, Inc. (AMEX: DIL) announced today
it has received notice from The American Stock Exchange (the "Amex") that
Amex listing is being continued pursuant to an extension.
21, 2007, the Company announced that on May 17, 2007, it had received notice
from the Amex indicating that the Company is currently in violation of
Amex's continued listing standards specified in Sections 134 and 1101 of the
Amex Company Guide because the Company had yet to file with the Securities
Exchange Commission ("SEC") its Form 10-QSB for the quarter ended March 31,
2007. The Amex's notice further indicated that the Company had to submit a plan
to the Amex by June 18, 2007, advising the Amex on action it has taken,
take, that will enable the Company to regain compliance with these continued
listing standards by no later than November 16, 2007.
18, 2007, the Company submitted a plan of compliance to the Amex. The Amex
completed its review of the plan and has determined that, in accordance
Section 1009 of the Amex Company Guide, the plan makes a reasonable
demonstration of the Company's ability to regain compliance with the continued
listing standards by the end of the plan period, which has been determined
no later than November 16, 2007.
has agreed to continue the Company's listing conditioned upon, among other
things, the Company demonstrating progress consistent with the plan prior
targeted completion date of November 16, 2007. However, the Amex, consistent
with its obligations and responsibilities as a self-regulatory organization,
initiate immediate delisting proceedings against the Company as appropriate
the public interest during the plan period despite its conditional continued
Company will not be deemed to have regained compliance with the Amex continued
listing standards, and trading in the Company's common stock will not resume
the Amex, until the Company is current with the filing of its SEC quarterly
reports and other SEC periodic reports.
end of the plan period, November 16, 2007, the Company must be in compliance
with all of the Amex continued listing standards, including being current
the above SEC filings. Failure to regain compliance by November 16, 2007,
likely result in the Amex initiating delisting proceedings against the
pursuant to Section 1009 of the Company Guide.
International, Inc. is a biotechnology company that uses its patented and
proprietary technologies to conduct research and development activities
discovery, development, and manufacture of products and enabling solutions
the bioenergy, industrial enzyme and pharmaceutical industries.
Statement for Forward-Looking Statements
statements contained in this press release are "forward-looking statements."
These forward-looking statements involve risks and uncertainties that could
cause our actual results, performance or achievements to be materially
from any future results, performance or achievements expressed or implied
such forward-looking statements. For a discussion of these risks and
uncertainties, 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
ended December 31, 2006, and our subsequent filings with the SEC. Except
required by law, we expressly disclaim any intent or obligation to update
forward-looking statements.
(Sasha) Bondar, 561-743-8333
Berkman, 310-826-5051