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<SEC-DOCUMENT>0001104659-08-011174.txt : 20080215
<SEC-HEADER>0001104659-08-011174.hdr.sgml : 20080215
<ACCEPTANCE-DATETIME>20080215161617
ACCESSION NUMBER:		0001104659-08-011174
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20080215
DATE AS OF CHANGE:		20080215
GROUP MEMBERS:		BARRY M. KITT
GROUP MEMBERS:		THE PINNACLE FUND, L.P.

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KNOTT DAVID M
		CENTRAL INDEX KEY:			0000808722

	FILING VALUES:
		FORM TYPE:		SC 13D

	MAIL ADDRESS:	
		STREET 1:		485 UNDERHILL BLVD
		STREET 2:		STE 205
		CITY:			SYOSSET
		STATE:			NY
		ZIP:			11791-3419

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYADIC INTERNATIONAL INC
		CENTRAL INDEX KEY:			0001213809
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				450486747
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-80718
		FILM NUMBER:		08622917

	BUSINESS ADDRESS:	
		STREET 1:		140 INTRACOASTAL POINTE DRIVE
		STREET 2:		SUITE 404
		CITY:			JUPITER
		STATE:			FL
		ZIP:			33477
		BUSINESS PHONE:		561-743-8333

	MAIL ADDRESS:	
		STREET 1:		140 INTRACOASTAL POINTE DRIVE
		STREET 2:		SUITE 404
		CITY:			JUPITER
		STATE:			FL
		ZIP:			33477

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CCP WORLDWIDE INC
		DATE OF NAME CHANGE:	20030110
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>a08-5882_1sc13d.htm
<DESCRIPTION>SC 13D
<TEXT>

<html>

<head>





</head>

<body bgcolor="white" lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="23%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:23.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="54%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:54.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">UNITED STATES</font></b></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt .7pt .7pt;width:22.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="23%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:23.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="54%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:54.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
  </td>
  <td width="22%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:22.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="23%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:23.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="54%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:54.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt .7pt .7pt;width:22.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="23%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:23.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="54%" valign="top" style="padding:0pt .7pt .7pt .7pt;width:54.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt .7pt .7pt;width:22.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr height="19" style="height:14.4pt;">
  <td width="23%" height="19" valign="top" style="height:14.4pt;padding:0pt .7pt .7pt .7pt;width:23.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="54%" height="19" valign="top" style="height:14.4pt;padding:0pt .7pt .7pt .7pt;width:54.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt 10.0pt;text-align:center;text-indent:-10.0pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SCHEDULE 13D</font></b></p>
  </td>
  <td width="22%" height="19" valign="bottom" style="height:14.4pt;padding:0pt .7pt .7pt .7pt;width:22.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Under the Securities Exchange Act
of 1934 <br>
(Amendment No. &nbsp;&nbsp;&nbsp;)*</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p align="center" style="border:none;margin:0pt 0pt .0001pt;padding:0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Dyadic
International, Inc.</font></b></p>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name of Issuer)</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p align="center" style="border:none;margin:0pt 0pt .0001pt;padding:0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Common
Stock, par value $0.001 per share</font></b></p>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Title of Class of
Securities)</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p align="center" style="border:none;margin:0pt 0pt .0001pt;padding:0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">26745T101</font></b></p>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(CUSIP Number)</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Douglas
  Rappaport, Esq.</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin-left:0pt;margin-right:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Eric L.
  Cohen, Esq.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DLA
  Piper US LLP</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin-left:0pt;margin-right:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Winston
  &amp; Strawn LLP</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1251
  Avenue of the Americas</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin-left:0pt;margin-right:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">200
  Park Avenue</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">New
  York, New York 10020</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin-left:0pt;margin-right:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">New
  York, New York 10166</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(212)
  335-4500</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin-left:0pt;margin-right:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:49.0%;">
  <p align="center" style="margin-left:0pt;margin-right:36.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(212)
  294-3540</font></b></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name, Address and
Telephone Number of Person<br>
Authorized to Receive Notices and Communications)</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 1.0pt 0pt;">

<p align="center" style="border:none;margin:0pt 0pt .0001pt;padding:0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">February
12, 2008</font></b></p>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Date of Event Which
Requires Filing of this Statement)<br><br></font></p>

<p style="margin:0pt 36.0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the filing person has
previously filed a statement on Schedule 13G to report the acquisition that is
the subject of this Schedule 13D, and is filing this schedule because of
&#167;&#167;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>

<p style="margin:5.0pt 36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Note</font></b><font size="2" style="font-size:10.0pt;">: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent. </font></p>

<p style="margin:5.0pt 36.0pt;"><sup><font size="2" face="Times New Roman" style="font-size:10.0pt;">*</font></sup><font size="2" style="font-size:10.0pt;"> The remainder of this cover page shall
be filled out for a reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page. </font></p>

<p style="margin:0pt 36.0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The information required on the remainder of this
cover page shall not be deemed to be &quot;filed&quot; for the purpose of Section
18 of the Securities Exchange Act of 1934 (&quot;Act&quot;) or otherwise
subject to the liabilities of that section of the Act but shall be subject to
all other provisions of the Act (however, see the Notes).</font></p>

<p style="margin:0pt 36.0pt .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\brama\08-5882-1\task2698108\5882-1-ba.htm',USER='105435',CD='Feb 16 01:54 2008' -->


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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="6" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP No. </font><font size="2" style="font-size:10.0pt;">26745T101</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Names of Reporting Persons<br>
  The Pinnacle Fund, L.P.</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="91%" colspan="4" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the Appropriate Box
  if a Member of a Group (See Instructions)</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="3" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.36%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>
  </td>
  <td width="82%" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:82.74%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font><font size="2" style="font-size:10.0pt;"> (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="3" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.36%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>
  </td>
  <td width="82%" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:82.74%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC Use Only </font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Source of Funds (See
  Instructions)<br>
  WC (See Item 3)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check if Disclosure of Legal Proceedings Is
  Required Pursuant to Items 2(d) or 2(e) </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citizenship or Place of Organization<br>
  Texas</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="12%" colspan="3" rowspan="7" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:12.04%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of<br>
  Shares<br>
  Beneficially<br>
  Owned by<br>
  Each<br>
  Reporting<br>
  Person With</font></p>
  </td>
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Voting Power <br>
  0</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shared Voting Power</font><font size="2" style="font-size:10.0pt;">  <br>
  16,392,159 (See Item 5)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Dispositive Power</font><font size="2" style="font-size:10.0pt;">  <br>
  1,790,572 (See Item 5)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shared Dispositive Power</font><font size="2" style="font-size:10.0pt;">  <br>
  0</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate Amount
  Beneficially Owned by Each Reporting Person</font><font size="2" style="font-size:10.0pt;">  <br>
  16,392,159 (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check if the Aggregate
  Amount in Row (11) Excludes Certain Shares (See Instructions)</font><font size="2" style="font-size:10.0pt;">  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Percent of Class
  Represented by Amount in Row (11)</font><font size="2" style="font-size:10.0pt;">  <br>
  52.4%(See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Type of Reporting Person
  (See Instructions)</font><font size="2" style="font-size:10.0pt;"><br>
  PN</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="25" style="border:none;"></td>
  <td width="42" style="border:none;"></td>
  <td width="23" style="border:none;"></td>
  <td width="33" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
  <td width="619" style="border:none;"></td>
 </tr>
</table>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="6" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP No. </font><font size="2" style="font-size:10.0pt;">26745T101</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Names of Reporting Persons<br>
  Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="91%" colspan="4" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the Appropriate Box
  if a Member of a Group (See Instructions)</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="3" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.36%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>
  </td>
  <td width="82%" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:82.74%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font><font size="2" style="font-size:10.0pt;"> (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="3" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.36%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>
  </td>
  <td width="82%" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:82.74%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC Use Only </font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Source of Funds (See
  Instructions)<br>
  WC (See Item 3)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check if Disclosure of Legal Proceedings Is Required
  Pursuant to Items 2(d) or 2(e) </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citizenship or Place of Organization<br>
  United States</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="12%" colspan="3" rowspan="7" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:12.04%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of<br>
  Shares<br>
  Beneficially<br>
  Owned by<br>
  Each<br>
  Reporting<br>
  Person With</font></p>
  </td>
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Voting Power <br>
  0</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shared Voting Power</font><font size="2" style="font-size:10.0pt;">  <br>
  16,392,159 (See Item 5)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Dispositive Power</font><font size="2" style="font-size:10.0pt;">  <br>
  1,790,572 (See Item 5)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shared Dispositive Power</font><font size="2" style="font-size:10.0pt;">  <br>
  0</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate Amount
  Beneficially Owned by Each Reporting Person</font><font size="2" style="font-size:10.0pt;">  <br>
  16,392,159 (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check if the Aggregate
  Amount in Row (11) Excludes Certain Shares (See Instructions)</font><font size="2" style="font-size:10.0pt;">  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Percent of Class
  Represented by Amount in Row (11)</font><font size="2" style="font-size:10.0pt;">  <br>
  52.4% (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Type of Reporting Person
  (See Instructions)</font><font size="2" style="font-size:10.0pt;"><br>
  IN</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="25" style="border:none;"></td>
  <td width="42" style="border:none;"></td>
  <td width="23" style="border:none;"></td>
  <td width="33" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
  <td width="619" style="border:none;"></td>
 </tr>
</table>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" colspan="6" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP No. </font><font size="2" style="font-size:10.0pt;">26745T101</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Names of Reporting Persons<br>
  David M. Knott</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>
  </td>
  <td width="91%" colspan="4" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the Appropriate Box
  if a Member of a Group (See Instructions)</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="3" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.36%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font></p>
  </td>
  <td width="82%" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:82.74%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font><font size="2" style="font-size:10.0pt;"> (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="3" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.36%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font></p>
  </td>
  <td width="82%" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:82.74%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SEC Use Only </font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Source of Funds (See
  Instructions)<br>
  WC (See Item 3)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check if Disclosure of Legal Proceedings Is
  Required Pursuant to Items 2(d) or 2(e) </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citizenship or Place of Organization<br>
  United States</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="12%" colspan="3" rowspan="7" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:12.04%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number of<br>
  Shares<br>
  Beneficially<br>
  Owned by<br>
  Each<br>
  Reporting<br>
  Person With</font></p>
  </td>
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Voting Power <br>
  0</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shared Voting Power</font><font size="2" style="font-size:10.0pt;">  <br>
  16,392,159 (See Item 5)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Dispositive Power</font><font size="2" style="font-size:10.0pt;">  <br>
  1,141,250</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" colspan="3" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:87.96%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="4%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:4.46%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font></p>
  </td>
  <td width="83%" colspan="2" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:83.5%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shared Dispositive Power</font><font size="2" style="font-size:10.0pt;">  <br>
  0</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate Amount
  Beneficially Owned by Each Reporting Person</font><font size="2" style="font-size:10.0pt;">  <br>
  16,392,159 (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check if the Aggregate
  Amount in Row (11) Excludes Certain Shares (See Instructions)</font><font size="2" style="font-size:10.0pt;">  </font><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Percent of Class
  Represented by Amount in Row (11)</font><font size="2" style="font-size:10.0pt;">  <br>
  52.4% (See Item 5)</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="6" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:3.32%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="5%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:5.58%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.</font></p>
  </td>
  <td width="91%" colspan="4" style="border:none;border-bottom:solid windowtext 1.0pt;padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:4.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Type of Reporting Person
  (See Instructions)</font><font size="2" style="font-size:10.0pt;"><br>
  IN</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="25" style="border:none;"></td>
  <td width="42" style="border:none;"></td>
  <td width="23" style="border:none;"></td>
  <td width="33" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
  <td width="619" style="border:none;"></td>
 </tr>
</table>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\brama\08-5882-1\task2698108\5882-1-ba.htm',USER='105435',CD='Feb 16 01:54 2008' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 1.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Security and Issuer</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" style="padding:0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This statement on
  Schedule 13D relates to the common stock, par value $0.001 per share, of
  Dyadic International, Inc., a Delaware corporation (&#147;<b>Issuer</b>&#148;).
  The principal executive offices of the Issuer are located at 140 Intracoastal
  Pointe Drive, Suite 404, Jupiter, Florida.</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 2.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Identity and Background</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" style="padding:0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This statement is filed
  by the following persons: The Pinnacle Fund, L.P.; Barry M. Kitt; and David
  M. Knott (collectively, the &#147;<b>Reporting Persons</b>&#148;).
  The Reporting Persons are party to a Voting Agreement, as described in Item 5
  below, and the parties to such Voting Agreement have previously filed a
  Schedule 13D on November 13, 2007 with respect thereto. This Schedule 13D is
  filed only by the Reporting Persons, and not by any of the other parties to
  the Voting Agreement. However, as a result of the Voting Agreement, this
  Schedule 13D includes information about the share holdings of all of the
  parties to the Voting Agreement, as described in Item 5 below.</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)-(c), (f)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="19%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt 18.0pt;text-indent:-18.0pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="24%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Principal</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Citizenship/Place of</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Reporting Person</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="24%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Business Address</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Occupation/Business</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="22%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Organization</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barry M. Kitt(1)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4965 Preston Park
  Boulevard, Suite 240, Plano, TX 75093</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Managing entities which
  invest in equity and equity- related securities and other securities of any
  kind or nature.</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;border:none;padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Pinnacle Fund, L.P.</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4965 Preston Park
  Boulevard, Suite 240, Plano, TX 75093</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Investing in equity and
  equity- related securities and other securities of any kind or nature.</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Texas</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:19.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David M. Knott(2)</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:2.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="24%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:24.02%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">485 Underhill Boulevard,
  Syosset, NY 11791</font></p>
  </td>
  <td width="2%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:2.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:28.48%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Providing investment and
  management services to entities which invest in equity and equity-related
  securities of any kind or nature.</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:1.74%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="22%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0pt .7pt 0pt .7pt;width:22.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">United States</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0pt 0pt .0001pt 18.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pinnacle Advisers, L.P. is the general
partner of The Pinnacle Fund, L.P. Pinnacle Fund Management, LLC is the general
partner of Pinnacle Advisers, L.P. Barry M. Kitt is the sole member of Pinnacle
Fund Management, LLC. Mr. Kitt may be deemed to be the beneficial owner of the
1,790,572 shares of the Issuer&#146;s common stock beneficially owned by The
Pinnacle Fund, L.P. Mr. Kitt expressly disclaims beneficial ownership of all
shares of common stock beneficially owned by The Pinnacle Fund, L.P.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt 18.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">David M. Knott is the managing member of
Knott Partners Management, LLC, which is the general partner of Shoshone
Partners, L.P., Knott Partners, L.P. and Knott Partners Offshore Master Fund,
L.P. In addition, Mr. Knott is the sole shareholder, director and president of
Dorset Management Corporation, which provides investment management services to
these Knott-related funds. As a result of Mr. Knott&#146;s interests in Knott
Partners Management, LLC and Dorset Management Corporation, he has investment
discretion and control over 1,141,250 shares of the Issuer&#146;s common stock.
Consequently, he may be deemed to beneficially own such shares.</font></p>

<p style="margin:0pt 0pt .0001pt 18.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Reporting Persons
have entered into a joint filing agreement, dated as of February 14, 2008, a
copy of which is attached to this Statement as Exhibit 99.2. Each of the
Reporting Persons is responsible for the completeness and accuracy of the information
concerning him or it contained herein, but is not responsible for the
completeness and accuracy of the information concerning the others, except to
the extent that he or it knows or has reason to believe that such information
is inaccurate.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)-(e)</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the past five
years, none of the Reporting Persons has been (a) convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (b) a
party to any civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of which such person was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws, or
finding any violation with respect to such laws.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 3.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Source and Amount of Funds or Other
  Consideration</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" style="padding:0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Reporting Persons
  acquired their shares through working capital and personal funds. Pursuant
  to, and subject to the terms and conditions contained in, the Voting
  Agreement described in Item 5 of this statement, the Reporting Persons may be
  deemed to have acquired beneficial ownership of the Covered Shares (as
  defined below in Item 5) by virtue of the execution of the Voting Agreement.
  The Reporting Persons have not paid any consideration to such stockholders in
  connection with the execution and delivery of the Voting Agreement described
  in Item 5 of this statement.</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 4.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Purpose of Transaction</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" style="padding:0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On February 12, 2008,
  the Reporting Persons sent a letter to the Board of Directors of the Company (the
  &#147;<b>February 12 Letter</b>&#148;). The February 12
  Letter expresses the Reporting Persons' dissatisfaction with various aspects
  of the management and operation of the Company, including but not limited to:
  (1) the lack of experience of CEO Wayne Moor in running a public
  biotechnology company; (2) the fact that certain members of the Board of
  Directors, including chairman Harry Rosengart, own little or no stock in the
  Company; (3) the Board's failure to use Board member Marc Emalfarb's contacts
  and experience in the biotechnology industry to help the Company out of its
  currently impaired state; and (4) the de-listing of the Company's stock from
  the American Stock Exchange.</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The February 12 Letter
  requests that the Company take certain steps to improve its performance
  including: (1) the removal of Mr. Moor as CEO; (2) the restoration of full
  board rights to Mark Emalfarb; (3) the resignation of Harry Rosengart and
  Richard Berman from the Board; and (4) the prompt scheduling of a stockholder
  meeting. The letter sent by the Reporting Persons is attached hereto as
  Exhibit 99.1 and is incorporated herein by reference.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Reporting Persons
  may continue discussions regarding these matters with management of the
  Company, its Board of Directors, stockholders or other relevant parties to
  express the Reporting Persons&#146; view regarding the Company. &nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as set forth
  herein, the Reporting Persons do not have any present plan or proposal that
  would relate to or result in any of the actions or transactions enumerated in
  clauses (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons will
  amend this Schedule 13D as events unfold.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Interest in Securities of the Issuer</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">As a result of the Voting Agreement (the &#147;<b>Voting Agreement</b>&#148;) entered into as of October 31, 2007 by
The Pinnacle Fund, L.P., The Francisco Trust U/A/D February 28, 1996, The Mark
A. Emalfarb Trust U/A/D October 1, 1987, The Tom and Nancy Juda Living Trust,
J. Steven Emerson, and Dorset Management Corporation (the &#147;<b>Participating
Stockholders</b>&#148;), the Reporting Persons may be deemed to have
beneficial interest in the aggregate amount of 16,392,159 shares of the
Issuer&#146;s common stock as of February 12, 2008 (&#147;<b>Covered
Shares</b>&#148;). This amount includes options and warrants, exercisable
within 60 days of the date hereof, to acquire additional shares of the Issuer&#146;s
common stock. This amount does not include an aggregate of 248,700 shares of
common stock issuable upon the exercise of warrants held by The Pinnacle Fund,
L.P. and over which J. Steven Emerson has voting authority. The Pinnacle Fund,
L.P. holds warrants which are exercisable into 68,700 shares of the Issuer&#146;s
common stock. J. Steven Emerson has voting authority over warrants which are
exercisable into 180,000 shares of the Issuer&#146;s common stock. Such warrants are
subject to an exercise cap that precludes the holder thereof from utilizing its
exercise rights to the extent that it would beneficially own (determined in
accordance with Section 13(d) of the Securities Exchange Act of 1934) in excess
of 9.999% of the common stock, giving effect to such exercise.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Covered Shares
constitute approximately 52.4% of the Issuer&#146;s issued and outstanding common
stock. This percentage is based on (i) the 29,939,375 shares of common stock
outstanding as of March 28, 2006, as set forth in the Issuer&#146;s Annual Report on
Form 10-KSB for the year ended December 31, 2006, filed with the Securities and
Exchange Commission (&#147;<b>Commission</b>&#148;) on
April 2, 2007 and (ii) the options and warrants of the parties to the Voting
Agreement exercisable within 60 days of the date hereof. In accordance with the
rules of the Commission, shares of common stock issuable upon exercise or
conversion of derivative securities exercisable or convertible within 60 days
of the date hereof held by the Participating Stockholders are considered to be
outstanding for purposes of calculating such percentages, but shares of common
stock issuable upon exercise or conversion of derivative securities held by any
other person are not considered outstanding for such purpose.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pursuant to the Voting Agreement, the
manner in which the Participating Stockholders will vote their shares with
respect to all matters proposed to the Issuer&#146;s stockholders for approval will
be determined based on the voting decision of the majority of the shares
covered by the Voting Agreement. The Reporting Persons must provide 30 days
notice to terminate the Agreement with respect to those Persons. Accordingly,
following the execution of the Voting Agreement, the Reporting Persons may be
deemed to have shared power to vote or to direct the vote of the Covered Shares
with the other parties to the Voting Agreement.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Reporting Persons
have the power to dispose of or to direct the disposition of an aggregate of
2,931,822 shares of the Issuer&#146;s common stock, or approximately 9.4% of the
Issuer&#146;s common stock, as follows:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barry M. Kitt is the sole
member of Pinnacle Fund Management, LLC. Pinnacle Fund Management, LLC is the
general partner of Pinnacle Advisers, L.P. Pinnacle Advisers, L.P. is the
general partner of The Pinnacle Fund, L.P. Mr. Kitt has the sole power to
dispose of or to direct the disposition of 1,790,572 shares of the Issuer&#146;s
common stock. (1)</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Pinnacle Fund, L.P.
has the sole power to dispose of or to direct the disposition of 1,790,572
shares of the Issuer&#146;s common stock.(1)</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David M. Knott, in his
capacity as the managing member of Knott Partners Management, LLC, which is the
general partner of Shoshone Partners, L.P., Knott Partners, L.P. and Knott
Partners Offshore Master Fund, L.P. and as the sole shareholder, director and
president of Dorset Management Corporation, which provides investment
management services to these Knott-related funds, has the sole power to dispose
of or to direct the disposition of 1,141,250 shares of the Issuer&#146;s common
stock.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based upon the
information contained in the Schedule 13D filed on November 13, 2007 by the
Participating Stockholders, the Participating Stockholders, other than the
Reporting Persons, have the power to dispose of or to direct the disposition of
an aggregate of 13,460,337 shares of the Issuer&#146;s common stock, as follows:</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Francisco Trust U/A/D
February 28, 1996 has the sole power to dispose of or to direct the disposition
of 4,844,578 shares of the Issuer&#146;s common stock.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark A. Emalfarb, in his
capacity as trustee of The Mark A. Emalfarb Trust U/A/D October 1, 1987, has
the sole power to dispose of or to direct the disposition of 7,098,559 shares
of the Issuer&#146;s common stock.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tom Juda and Nancy Juda,
in their capacity as trustees of The Tom and Nancy Juda Living Trust, have the
shared power to dispose</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1) The common stock reported above does not include 68,700 shares of
common stock issuable upon the exercise of warrants held by The Pinnacle Fund,
L.P. Such warrants are subject to an exercise cap that precludes the holder
thereof from utilizing its exercise rights to the extent that it would
beneficially own (determined in accordance with Section 13(d) of the Act) in
excess of 9.999% of the common stock, giving effect to such exercise.</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of or to direct the disposition of 395,100 shares of the Issuer&#146;s
common stock.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">J. Steven Emerson has voting
authority over shares held by the Emerson Family Foundation, the J. Steven
Emerson Investment Account, the J. Steven Emerson IRA Rollover II, the J.
Steven Emerson Roth IRA, and Emerson Partners. In that capacity, he has the
sole power to dispose of or to direct the disposition of 1,122,100 shares of
the Issuer&#146;s common stock. (2)</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To the knowledge of the Reporting
Persons, the Reporting Persons have not effected any transactions in the
Issuer&#146;s shares during the past 60 days.</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">To the knowledge of the Reporting
Persons, no other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the Covered
Shares.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Not applicable.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="8%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 6.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Contracts, Arrangements, Understandings or Relationships
  with Respect to Securities of the Issuer</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Reporting Persons
  do not have any contracts, arrangements, understandings or relationships
  (legal or otherwise) among themselves with any other person with respect to
  any securities of the Issuer or its subsidiaries other than the Voting
  Agreement.</font></p>
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The description of the
  Voting Agreement in Item 4 of this statement is incorporated herein by
  reference.</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" valign="top" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="8%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:8.9%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 7.</font></b></p>
  </td>
  <td width="91%" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:91.1%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Material to be Filed as Exhibits</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="100%" colspan="2" style="padding:3.0pt 3.0pt 3.0pt 3.0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1 Letter to the Board of Directors of Dyadic
  International, Inc., dated February 12, 2008</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2 Joint Filing Agreement, dated February 14, 2008</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.3 Voting Agreement by and among certain
  stockholders of Dyadic International, Inc., dated as of October 31, 2007</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: February 14, 2008</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE PINNACLE FUND, L.P.</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:8.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="37%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:37.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pinnacle Advisers, L.P., its general partner</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:8.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="37%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:37.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pinnacle Fund Management, LLC, its<br>
  general partner</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:8.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="37%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:37.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:8.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="37%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:37.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barry M. Kitt, its sole member</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BARRY M. KITT</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="border:none;padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DAVID M. KNOTT</font></p>
  </td>
 </tr>
 <tr>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:19.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:34.32%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt .7pt;width:46.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ David M. Knott</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="1" width="25%" noshade color="black" align="left"></div>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2) The common stock reported above does not include 180,000 shares of
common stock issuable upon the exercise of warrants over which J. Steven
Emerson has voting authority. Such warrants are subject to an exercise cap that
precludes the holder thereof from utilizing its exercise rights to the extent
that it would beneficially own (determined in accordance with Section 13(d) of
the Act) in excess of 9.999% of the common stock, giving effect to such
exercise.</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0pt 0pt .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

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<SEQUENCE>2
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<DESCRIPTION>EX-99.1
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<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
99.1</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Knott
  Partners LLC</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">485
  Underhill Boulevard</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Suite&nbsp;205</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Syosset,
  NY 11791</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(516)
  364-0303</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt 0pt 0pt 0pt;width:2.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Pinnacle
  Advisers, LP</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4965
  Preston Park Boulevard</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Suite&nbsp;240</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Plano,
  TX 75093</font></b></p>
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(972)
  985-2121</font></b></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;12,
2008</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Via Facsimile and Overnight
Courier</font></u></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Board of Directors</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dyadic International,&nbsp;Inc.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140 Intracoastal Pointe
Drive</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suite&nbsp;404</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jupiter, FL&#160; 33477-5094</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gentlemen:</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As you know, we are two
institutional investors with sizable holdings in the stock of Dyadic
International,&nbsp;Inc. (&#147;<b>Dyadic</b>&#148; or the &#147;<b>Company</b>&#148;).&nbsp; Together, our combined holdings account for
approximately 9.5% of Dyadic&#146;s total common stock and we are on file with the
SEC as part of a group that represents in excess of 50% of the common stock.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We write to express our
grave concerns regarding the current state of the Company and the direction in
which it is moving.&nbsp; As described below, we demand that a Board and
management team be put in place that is capable of maximizing shareholder value
in the near term.&nbsp; Should the Company fail to meet this demand, we will
take matters into our own hands to protect our investment and will hold all
responsible officers and directors liable for breach of their fiduciary
obligations.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As a threshold matter, we
wish to address the myriad problems plaguing the Company.&nbsp; Based on our
review of the public record, we believe that the individuals leading the
Company are entirely incapable of providing the stewardship needed to remedy
the Company&#146;s problems by either improving its business prospects or finding a
viable strategic partner.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">First, the Company&#146;s
current CEO, Wayne Moor, must be replaced. Mr.&nbsp;Moor apparently has no
experience as a Chief Executive Officer of a public company, much less one in a
state of distress such as Dyadic.&nbsp; Mr.&nbsp;Moor&#146;s experience as the CFO
of various corporations in the hotel, rental car and floral industry does not
translate over to running a global biotechnology company. He is obviously
unprepared to deal with the challenges placed before him with respect to the
management of Dyadic and appears to have made little or no effort to right this
listing ship.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Board has likewise
failed to steer the Company out of perilous waters.&nbsp; As we understand it,
certain members of the Board, including Chairman Harry Rosengart and Richard
Berman, have little or no ownership of Dyadic stock.&nbsp; Instead, it appears
that the holdings of these board members derive from board-granted stock
options, all of which are deeply under water.&nbsp; This lack of a meaningful
interest in the Company helps explain the Board&#146;s apparent indifference to
protecting the interests of its shareholders.&nbsp; Mr.&nbsp;Rosengart, Mr.&nbsp;Berman,
and others, obviously lack the commitment and wherewithal necessary to find an
appropriate strategic partner for Dyadic. We have no further patience for the
fruitless efforts of these Board members and their advisors.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We also believe the Board
has been needlessly distracted by personal squabbles and territorial
gamesmanship regarding the Company&#146;s founder, director Mark Emalfarb.&nbsp;
These squabbles have resulted in the unnecessary waste of corporate resources
and ineffective management and operations related to the Company&#146;s core
business.&nbsp; The Board has failed to use Mr.&nbsp;Emalfarb&#146;s contacts and
experience in the biotechnology industry to help the Company move forward from
its currently impaired state. This failure is inexcusable given the Company&#146;s
current condition.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company also appears
to have failed to keep shareholders properly apprised of relevant developments
concerning its operations in accordance with SEC disclosure requirements.&nbsp;
In particular, the Company waited over two weeks to report that it had received
a notice of default on a Revolving Note and Security Agreement that could
potentially trigger payment obligations in excess of $2.4 million plus
interest.&nbsp; The Company also appears to have been late in reporting that T.
Rowe Price had provided notice seeking to rescind its purchase of 1.2 million
shares of stock and was demanding the return of over $5.6 million. <u>See</u>
Dyadic International,&nbsp;Inc., Current Report (Form&nbsp;8-K), at 3 (Oct.&nbsp;18,
2007). These apparent reporting delinquencies only exacerbate what is already a
painful situation for the shareholders.</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Finally, the Board
allowed the Company to be de-listed from the American Stock Exchange, despite
being given six months to regain compliance with AMEX&#146;s listing
requirements.&nbsp; This de-listing has proven devastating to the Company&#146;s
share price and significantly impaired the Company&#146;s credibility in the
market.&nbsp; A Board with the true interests of the shareholders at heart
would have taken all necessary steps to avert the Company&#146;s fall from the
AMEX.&nbsp; This Board failed to do so.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In short, Dyadic&#146;s Board
and management have failed its shareholders and failed the Company.&nbsp; We
will no longer stand idly by while the value of the Company&#146;s core business
deteriorates due to the ineffectiveness of those entrusted to preserve
it.&nbsp; Changes must be made if value is to be restored. We therefore propose
that the following steps be taken:</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Moor
step down as CEO and the Board bring in a manager with substantial leadership
experience in the biotech area and expertise in turnaround situations.</p>

<p style="margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Emalfarb
be restored his full Board rights, particularly the right to participate in the
pursuit of a strategic transaction.&nbsp; To date, Mr.&nbsp;Emalfarb has
effectively been excluded from participating in this process, despite his
standing as the Company&#146;s founder and largest shareholder, and the Board member
with the most experience in the biotech business.</p>

<p style="margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Rosengart
and Mr.&nbsp;Berman resign from the Board, leaving them free to pursue other
business interests in which they actually have a vested stake in the
performance of the company.</p>

<p style="margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 54.0pt;text-autospace:ideograph-other;text-indent:-18.0pt;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Board schedule a shareholders meeting to appoint a slate of directors that can
successfully direct the Company towards a prosperous future.</p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Should the Board choose
to ignore these requests, we will take whatever actions are necessary to
protect our investment.&nbsp; This includes holding board members and officers
personally liable for their fiduciary failures concerning the governance and
operation of the Company.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please contact us within
three business days to discuss these proposals.&nbsp;&nbsp;This letter solely
reflects the views of Knott Partners and The Pinnacle Fund, and does not reflect
the views of other members of the group identified in the Schedule 13D filed
with the SEC on October&nbsp;31, 2007.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt 180.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sincerely,</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.68%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Anthony Campbell</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:8.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:41.32%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Barry Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.68%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Anthony Campbell</font></p>
  </td>
  <td width="41%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:41.32%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barry Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.68%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Partner, Knott Partners
  LLC</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:41.32%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sole Member, Pinnacle
  Fund</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.68%;">
  <p style="margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and its
  Affiliated Funds</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:41.32%;">
  <p style="margin:0pt 0pt .0001pt 35.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Management, LLC</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.68%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:41.32%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">General Partner,
  Pinnacle&nbsp; Advisers, LP</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:46.68%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:41.32%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">General Partner, The
  Pinnacle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fund, LP</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>a08-5882_1ex99d2.htm
<DESCRIPTION>EX-99.2
<TEXT>

<html>

<head>





</head>

<body lang="EN-US" style="text-justify-trim:punctuation">

<div>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT 99.2</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">JOINT
FILING AGREEMENT</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned
acknowledge and agree that the foregoing statement on Schedule 13D is filed on
behalf of each of the undersigned and that all subsequent amendments to this
statement shall be filed on behalf of each of the undersigned without the
necessity of filing additional joint filing agreements. The undersigned
acknowledge that each shall be responsible for the timely filing of such
amendments, and for the completeness and accuracy of the information concerning
it contained therein, but shall not be responsible for the completeness and
accuracy of the information concerning the others, except to the extent that it
knows or has reason to believe that such information is inaccurate.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement may be
executed in counterparts and each of such counterparts taken together shall
constitute one and the same instrument.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: February&nbsp;14,
2008</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE PINNACLE FUND, L.P<b>.</b></font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:6.56%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:43.44%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pinnacle Advisers,
  L.P., its general partner</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:6.56%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="43%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:43.44%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pinnacle Fund
  Management, LLC, its general partner</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:6.56%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="43%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:43.44%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barry M. Kitt, its sole
  member</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BARRY M. KITT</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DAVID M. KNOTT</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ David M. Knott</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>a08-5882_1ex99d3.htm
<DESCRIPTION>EX-99.3
<TEXT>

<html>

<head>





</head>

<body lang="EN-US" style="text-justify-trim:punctuation">

<div>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">EXHIBIT 99.3</font></b></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">VOTING AGREEMENT</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">This Voting
Agreement (&#147;Agreement&#148;) is made and entered into effective as of
October&nbsp;31, 2007 by and among the stockholders listed on the signature
pages hereto (the &#147;Participating Stockholders&#148;).</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">RECITALS</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">As of the
date of this Agreement, each Participating Stockholder is the record owner of
the number of shares of common stock, par value $0.001 per share (&#147;Common
Stock&#148;) of Dyadic International Inc., a Delaware corporation (&#147;Company&#148;), and
has rights to acquire such additional number of shares of Common Stock, as are
set forth below such Participating Stockholder&#146;s name on the signature page
hereto. The Participating Stockholders desire to facilitate the voting
arrangements set forth in this Agreement by agreeing to the terms and
conditions set forth below.</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">AGREEMENT</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">The
Participating Stockholders agree as follows:</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">1.&nbsp;Agreement to Vote as a Group</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">The
Participating Stockholders believe it to be in their best interests and in the
best interest of the Company and all of its stockholders for the Participating
Stockholders to combine their votes, as such stockholders, with respect to, but
not limited to, the following matters: (i) the election, removal, and/or
replacement of members of the board of directors of the Company; (ii) the
amendment of the bylaws and/or the certificate of incorporation of the Company;
(iii)&nbsp;any material change or acts in furtherance of a material change in
the Company&#146;s corporate structure; and (iv)&nbsp;any other matter proposed to
stockholders of the Company for approval or required by law to be approved by
stockholders of the Company.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">2.&nbsp;Voting the Shares</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">All the
aforementioned shares of Common Stock owned by the Participating Stockholders,
together with any additional shares of Common Stock acquired in any manner by
any one or more of them (the &#147;Covered Shares&#148;), shall be voted as one block
with respect to the matters enumerated in Section&nbsp;1 of this Agreement.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">3.&nbsp;Manner of Voting</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">The manner in
which the Covered Shares will be voted will be determined based on the voting
decision of the majority of the Covered Shares. Such majority shall be
determined by consultation amongst the Participating Stockholders sufficiently
in advance of the deadline for</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">the voting of the Covered Shares to allow
for the valid voting of such shares consistent with this Agreement.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">4.&nbsp;Termination of the Agreement</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(a)&nbsp;<i>Termination by Passage of Time or by Agreement.</i>
This Agreement shall continue in full force and effect from the date hereof
through the earliest of the following dates, on which date it shall terminate
in its entirety:</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(i)&nbsp;two
(2)&nbsp;years from the date of this Agreement; or</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:36.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(ii)&nbsp;the
date as of which the parties hereto terminate this Agreement by the written
consent of a majority of the Participating Stockholders.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">(b)&nbsp;<i>Termination by Notice to Participating Stockholders.</i>
Notwithstanding paragraph (a)&nbsp;of this Section&nbsp;2, a Participating
Stockholder may terminate this Agreement, with respect to that Participating
Stockholder, upon (30)&nbsp;days prior written notice to all of the other
Participating Stockholders. Any such termination by a Participating Stockholder
will have no effect on the rights and obligations of other Participating
Stockholders under this Agreement.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">5.&nbsp;Modification</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">This
Agreement may not be modified or amended except by a written agreement signed
by each Participating Stockholder.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">6.&nbsp;Notices</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Any notice
required or permitted by this Agreement shall be in writing and shall be deemed
given on the date of delivery, when delivered personally or by overnight
courier or sent by facsimile to such party&#146;s address or facsimile number as set
forth on the signature page, or such other address or number as a recipient may
subsequently specify by written notice to the other parties hereto.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">7.&nbsp;Further Assurances</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">The
Participating Stockholders shall perform such further acts and execute such
further documents and instruments as may reasonably be required to vest in the
parties to this Agreement the power to carry out and give effect to the
provisions of this Agreement, provided, however, that this Section&nbsp;7
creates no obligation on the part of any Participating Stockholder to make or
commit to any monetary expenditure without such Participating Stockholder&#146;s
consent in each case.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">8.&nbsp;Governing Law</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">This
Agreement shall be governed by and in accordance with, the laws of the State of
Delaware, regardless of the laws that might otherwise govern under applicable
principles of</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">2</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><a name="mrll_PB2"></a><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">conflicts of
laws thereof. In any action between the parties arising out of or relating to
this Agreement or any of the transactions contemplated by this Agreement each
of the parties irrevocably and unconditionally consents and submits to the
jurisdiction and venue of the state and federal courts located in the State of
Delaware.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">9.&nbsp;Counterparts</font></b></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;text-indent:27.0pt;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">This
Agreement may be signed (including by facsimile) in one or more counterpart
signature pages, each of which shall be deemed an original and all of which
shall together constitute one and the same instrument.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><b><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;font-weight:bold;">[SIGNATURES CONTAINED ON NEXT PAGE]</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">3</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">IN WITNESS WHEREOF, the parties have
executed and delivered this Agreement effective the day and year first above
written.</font></p>

<p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">MARK A. EMALFARB TRUST U/A/D October&nbsp;1,</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">1987</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">/s/ Mark A. Emalfarb</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Mark A. Emalfarb</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">as Trustee</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">10-31-07</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Address:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">193 Spyglass Court, Jupiter, FL 33477</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Shares of Dyadic Common Stock
  over</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">which you have voting authority:
  5,822,125</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:20.16%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:30.76%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Dyadic Warrants or Options
  that are</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">exercisable within 60&nbsp;days over
  which you have</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">voting authority: 1,276,434</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:20.16%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:30.76%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">J. STEVEN EMERSON</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">/s/ J. Steven Emerson</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">10-31-07</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Address:</font></p>
  </td>
  <td width="38%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">1522 Ensley Ave, Los Angeles, Calif</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">900024</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Shares of Dyadic Common Stock
  over</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">which you have voting authority:
  1,122,100</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:20.16%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:30.76%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.08%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.92%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Dyadic Warrants or Options
  that are</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">exercisable within 60&nbsp;days over
  which you have</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">voting authority: 180,000</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="367" style="border:none;"></td>
  <td width="90" style="border:none;"></td>
  <td width="61" style="border:none;"></td>
  <td width="230" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="5" valign="top" style="padding:0pt 0pt 0pt 0pt;width:51.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">THE FRANCISCO TRUST U/A/D FEBRUARY 28,</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="51%" colspan="5" valign="top" style="padding:0pt 0pt 0pt 0pt;width:51.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">1996</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.14%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.14%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">/s/ Morley Alperstein</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.14%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.14%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Morley Alperstein</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.0%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.14%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Francisco Trust, Trustee</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">10-31-07</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Address:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">17236 Gulf Pine Circle, Wellington, FL</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">33414</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Shares of Dyadic Common Stock
  over</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">which you have voting authority:
  4,769,578</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="37%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:37.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Dyadic Warrants or Options
  that are</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">exercisable within 60&nbsp;days over
  which you have</font></p>
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">voting authority: 75,000</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">TOM AND NANCY JUDA LIVING TRUST</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">/s/ Tom Juda</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="1" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Tom Juda</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Trustee</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">10-31-07</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Address:</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">410 S. Lucerne Bl. Los Angeles, CA</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">90020</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Shares of Dyadic Common Stock
  over</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">which you have voting authority: 395,100</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.04%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Dyadic Warrants or Options
  that are</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.9%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">exercisable within 60&nbsp;days over
  which you have </font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.1%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:13.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">voting authority:</font></p>
  </td>
  <td width="37%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:37.78%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="367" style="border:none;"></td>
  <td width="1" style="border:none;"></td>
  <td width="90" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="6" style="border:none;"></td>
  <td width="277" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">DORSET MANAGEMENT CORPORATION</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">/s/ David M. Knott</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">David M. Knott</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">President</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">11-09-07</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Address:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">485 Underhill Blvd. Suite 205,</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Syosset, NY 11791</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Shares of Dyadic Common Stock
  over <br>
  which you have voting authority:</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number &nbsp;of Dyadic Warrants or Options that are <br>
  exercisable within 60&nbsp;days over which you have voting </font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:7.56%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">authority:</font></p>
  </td>
  <td width="43%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:43.34%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,141,250</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">THE PINNACLE FUND, L.P.</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">/s/ Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Barry M. Kitt</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Title: the General Partner of Pinnacle
  Advisors, L.P.,</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">the General Partner of The Pinnacle
  Fund, L.P.</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Date:</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">10-31-07</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Address:</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">4965 Preston Park Blvd. Ste. 240</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Plano, TX 75093</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Shares of Dyadic Common Stock
  over <br>
  which you have voting authority: 1,790,572</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="12%" colspan="3" valign="top" style="padding:0pt 0pt 0pt 0pt;width:12.02%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:38.86%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0pt 0pt 0pt 0pt;width:50.88%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">Number of Dyadic Warrants or Options
  that are <br>
  exercisable within 60&nbsp;days over which you have voting </font></p>
  </td>
 </tr>
 <tr>
  <td width="49%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:49.12%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="8%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:8.66%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">authority:</font></p>
  </td>
  <td width="42%" colspan="2" valign="top" style="padding:0pt 0pt 0pt 0pt;width:42.22%;">
  <p style="margin:0pt 0pt .0001pt;text-autospace:none;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">68,700</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="367" style="border:none;"></td>
  <td width="57" style="border:none;"></td>
  <td width="8" style="border:none;"></td>
  <td width="25" style="border:none;"></td>
  <td width="291" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0pt 0pt .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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