Welcome to the Annual Meeting for Dyadic International Inc. Our host for today's call is Patrick Lucy, Chairman. I will now turn the call over to your host. Mr. Lucy, you may begin.
Good morning. I am Patrick Lucy, Chairman of the Board of Directors of Dyadic International Inc, dba Dyadic Applied BioSolutions, and chairman of today's meeting. On behalf of our company, I want to welcome you to our 2026 Annual Meeting of Shareholders, which is being held in a virtual format. I now formally call the meeting to order. We will start with Ms. Ping Rawson, our Chief Financial Officer and Corporate Secretary, providing the safe harbor disclosure regarding potential forward-looking statements.
Thank you, Patrick. Good morning, everyone. I would like to inform you that certain commentary made in this virtual shareholder meeting may be considered forward-looking statements, which involve risks and uncertainties and other factors that could cause Dyadic's actual results, performance, scientific or otherwise, or achievements to be materially different from those expressed or implied by these forward-looking statements. Dyadic expressly disclaims any intent or obligation to update any forward-looking statements, except as required by law. For more information about factors that may cause actual results to be materially different from forward-looking statements, please refer to the press release we issued today, as well as risks described in our annual report on Form 10-K for the year ended December 31st, 2025, and our quarterly report on Form 10-Q for the quarter ended March 31st, 2026 in a section titled Risk Factors.
This information can be found in our other filings with the SEC when available. With that, I'd like to turn the floor back to Patrick.
Thank you, Ping. I will now begin by introducing the other directors of the company in attendance today. Seth Herbst, MD, Jack Kaye, and Mark Emalfarb, who is also the Chief Executive Officer. I would also like to once again introduce Ping Rawson, the company's Chief Financial Officer and Corporate Secretary, as she will be acting as the Inspector of Elections . Also attending today are Inga Orozco, representing Crowe LLP, our independent auditors for the year ending December 31st, 2026, and Scott Levi from White & Case LLP, our outside counsel. Our order of business this morning will be to address the proposals to be considered, collect any remaining votes, and receive a report from the Inspector of Elections about the results. Immediately following the formal portion of the meeting, our President and Chief Operating Officer, Joe Hazelton, will make a short presentation highlighting Dyadic's strategy going forward.
We will answer any questions you may have about the company in accordance with the posted rules of conduct. Written questions may be entered at any time during this meeting at the website where you logged on with a proxy number. This brings us to the first item on the agenda, which is the determination of a quorum. The company bylaws and Delaware law provide that the presence in person or by proxy of a majority of the shares of common stock outstanding on the record date, April 24, 2026, constitutes a quorum. Ping, do we have a quorum?
Yes, we do. A majority of the shares of common stock outstanding as of the record date, April 24, 2026, are represented at the meeting.
Thank you, Ping. There are four proposals to be voted on by shareholders. The first proposal is the election of one Class I director, Seth Herbst, MD, to hold office until the Annual Meeting in 2029 and until his successor has been elected and qualified. The second proposal is to approve the Board of Directors' authorization to effect a reverse stock split of the company's common stock by a ratio in the range set forth in the proxy statement. The third proposal is to ratify the appointment of Crowe LLP as our independent registered public accounting firm for the year ending December 31, 2026. The last proposal is to approve, on an advisory basis, the compensation of the company's named executive officers disclosed in the proxy.
If there is any shareholder of record as of April 24th, 2026, who has not voted by proxy and now wants to vote, or has previously voted by proxy but now wants to change that vote, please do so now. If you have already sent in your proxy card and do not want to change your vote, you do not need to do anything now. I will wait a few moments to give anyone a chance to vote or change their vote. I now declare the polls closed. I will now ask the Inspector of Elections to provide a preliminary report on the vote.
Mr. Chairman, the nominee for director has been approved. The Board of Directors' authorization to effect a reverse stock split of the company's common stock by a ratio in the range set forth in the proxy statement has been approved. The ratification of the appointment of Crowe LLP as the company's independent registered public accounting firm for the year ending December 31st, 2026 has been approved. The advisory notes on the compensation of the company's named executive officers has also been approved.
Thank you, Ping. That completes our formal business for today. Before we conclude, I would like to provide a brief update regarding our Nasdaq listing status. As previously disclosed, the company has been working to regain compliance with Nasdaq's minimum bid price requirement. This morning, we received a delisting determination letter from Nasdaq following the expiration of the initial compliance period. The company intends to appeal the determination, which will allow our common stock to continue trading on Nasdaq during the appeal process. We are also continuing our efforts to address the stockholders' equity requirement and evaluate a range of alternatives to restore full compliance with all applicable Nasdaq listing standards. Importantly, our business operations remain unchanged, and management continues to focus on executing our commercialization strategy, advancing key partnerships, and strengthening the company's financial position. We will keep shareholders informed of any material developments and appreciate your continued support.
I now declare the meeting closed. Thank you very much for your ongoing support and for your time and effort to attend this morning. Our President and Chief Operating Officer, Joe Hazelton, will now provide a brief overview of the focus of the company and our strategy going forward, which will be followed by an open Q&A. Shareholders with control numbers can type your questions through the portal. I will direct your questions to management or board members, whoever may be most appropriate to answer your questions.
Good morning. Thank you for joining today. As this slide illustrates, our focus remains clear: executing our strategy for commercial growth by launching products, expanding partnerships, and building shareholder value. Over the past several years, we have built and validated our proprietary C1 and Dapibus production platforms. Today, our focus is increasingly on converting those technology assets into commercial opportunities. We've made meaningful progress in that regard. We now have multiple products in the market, including human albumin through our partnership with Proliant, bovine chymosin through Inzymes, and an DNase I through Fermbox. We've also expanded our commercial reach through partnerships, including Integrated Biotherapeutics, which serves as our distribution partner for certain Dyadic products. We continue to build our product portfolio across life sciences, food and nutrition, and bioindustrial markets.
While commercialization takes time, we continue to make progress in expanding our product portfolio, strengthening our commercial partnerships, and advancing opportunities across multiple end markets. We believe these efforts are laying the foundation for multiple revenue streams and shareholder value creation. At the same time, we continue to advance several biopharmaceutical partnerships and programs, including collaborations with organizations such as Scripps Research and the Gates Foundation. These efforts not only create additional future opportunities but also further validate the capability and versatility of our production technologies. As we look ahead, our priorities remain straightforward. Expand commercial adoption of our products, advance our strategic partnerships, pursue opportunities that can accelerate growth, and continue building shareholder value. We believe the breadth of applications for our technology, combined with the progress we have made across multiple markets, positions Dyadic well for the future.
On behalf of the board and the management team, thank you for your continued support and confidence in Dyadic.
Thank you, Joe. Thank you all for attending today's Annual Meeting . We will continue to communicate with the investor base through public releases going forward. At this point in time, we will close the meeting. Thank you again for your support.
This concludes today's meeting. Thank you for attending. You may now disconnect, and have a wonderful rest of your day.