DYADIC INTERNATIONAL INC — Director's Dealing 2005

May 26, 2005

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: DYADIC INTERNATIONAL INC (DIL)
CIK: 0001213809
Period of Report: 2005-05-26

Reporting Person: BONDAR ALEXANDER V (VP - Strategy & Corp. Develop.)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3716	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option	$3.025	2010-03-30	Common Stock (35000)		Direct
Employee Stock Option	$3.33	2009-07-28	Common Stock (10000)		Direct
Employee Stock Option	$4.50	2008-07-08	Common Stock (15000)		Direct
Employee Stock Option	$4.50	2008-07-08	Common Stock (10000)		Direct

Footnotes

F1: The option vests in four equal annual installments beginning on 03/30/06.

F2: 2,000 shares of the option are currently vested and the remainder of the option vest in four equal annual installments
beginning on 07/28/05.

F3: 5,000 shares of the option are currently vested and the remainder of the option vests in two equal annual installments
beginning on 07/08/05.