Full Press Release Details
Receives Notice of Continuing Failure to Satisfy Certain Amex Continued Listing
Fla - August 28, 2007 - Dyadic International, Inc. (AMEX: DIL) announced today
that it has received a second notice from The American Stock Exchange (the
"Amex") indicating that the Company continues to be in violation of the Amex
continued listing standards specified in Sections 134 and 1101 of the Amex
Company Guide because the Company has yet to file with the Securities and
Exchange Commission ("SEC") its Form 10-QSB for the quarters ended March 31,
2007, and June 30, 2007.
Company's plan of compliance, previously filed with the Amex on June 18, 2007,
in connection with its delinquent Form 10-QSB for the quarter ended March 31,
2007 and accepted by the Amex on July 2, 2007, is still in effect, as it
demonstrates the Company's ability to regain compliance with its filing
obligations by the end of the plan period, which has been determined to be
later than November 16, 2007. Therefore, the Company is not required to file
with the Amex a new plan of compliance. However, if the Company is not in
compliance with all of the Amex continued listing standards by the end of the
plan period or does not make progress consistent with the plan prior to the
of the plan period, the Amex will initiate delisting proceedings against the
Company as appropriate pursuant to Section 1009 of the Company Guide.
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, which it anticipates will occur by
end of the plan period.
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 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 different
from any future results, performance or achievements expressed or implied by
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 site
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 SEC. Except as
required by law, we expressly disclaim any intent or obligation to update any
forward-looking statements.
(Sasha) Bondar, 561-743-8333
Berkman, 310-826-5051