Jupiter, FL–(June 5, 2009–BUSINESS WIRE)–Dyadic International, Inc. (“Dyadic”) (Pink Sheets: DYAI.PK) today announced that it has settled the administrative proceeding by the U.S Securities and Exchange Commission (“SEC”) without admitting or denying the SEC’s findings.
Dyadic agreed to the issuance of a cease-and-desist order (the “Order”) by the SEC which was approved by the SEC commissioners on June 4, 2009.
The Order stipulates that Dyadic cease and desist from committing or causing any violations of certain clauses of the U.S. Securities and Exchange Act of 1934.
The Order did not impose any monetary or other penalty on Dyadic, its officers or directors.
Dyadic’s Chairman and Chief Executive Officer, Mark Emalfarb, said: “We are pleased to put this matter behind us and are committed to enhancing stockholder value by continuing to develop new products, improving and leveraging our technologies for use in such markets as cellulosic ethanol, industrial enzymes and pharmaceuticals and seeking mutually beneficial collaborations with leaders in such industries.”
Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research and development activities for the discovery, development, and manufacture of products and enabling solutions to the bioenergy, industrial enzyme and pharmaceutical industries.
CAUTIONARY STATEMENT FOR FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release are “forward-looking statements.” These forward-looking statements involve risks and uncertainties that could cause Dyadic’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Dyadic expressly disclaims any intent or obligation to update any forward-looking statements.