December
31, 2008
|
(Date
of Event Which Requires Filing of this
Statement)
|
[ ]
|
Rule
13d-1(b)
|
[x]
|
Rule
13d-1(c)
|
[ ]
|
Rule
13d-1(d)
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CUSIP
NO. 26745T101
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Page
2 of 7
|
1
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NAMES
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
The
Pinnacle Fund, L.P., a Texas limited partnership
75-2512784
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|||||
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)¨
(b)þ
|
||||
3
|
SEC
USE ONLY
|
|||||
4
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
Texas
|
|||||
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY EACH
REPORTING
PERSON
WITH
|
5
|
SOLE
VOTING POWER
2,385,772
shares of Common Stock
|
||||
6
|
SHARED
VOTING POWER
0
|
|||||
7
|
SOLE
DISPOSITIVE POWER
2,385,772
shares of Common Stock
|
|||||
8
|
SHARED
DISPOSITIVE POWER
0
|
|||||
9
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,385,772
shares of Common Stock
|
|||||
10
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
|
¨
|
||||
11
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.0%
(See Item 4)
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|||||
12
|
TYPE
OF REPORTING PERSON
PN
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CUSIP
NO. 26745T101
|
Page
3 of 7
|
1
|
NAMES
OF REPORTING PERSONS
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Barry
M. Kitt
|
||||
2
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a)¨
(b)þ
|
|||
3
|
SEC
USE ONLY
|
||||
4
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States of America
|
||||
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY EACH
REPORTING
PERSON
WITH
|
5
|
SOLE
VOTING POWER
2,385,772
shares of Common Stock
|
|||
6
|
SHARED
VOTING POWER
0
|
||||
7
|
SOLE
DISPOSITIVE POWER
2,385,772
shares of Common Stock
|
||||
8
|
SHARED
DISPOSITIVE POWER
0
|
||||
9
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,385,772
shares of Common Stock
|
||||
10
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
|
¨
|
|||
11
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.0%
(See Item 4)
|
||||
12
|
TYPE
OF REPORTING PERSON
IN
|
CUSIP
NO. 26745T101
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Page
4 of 7
|
Item
1(a).
|
Name
of Issuer:
|
|
Dyadic
International, Inc. (the "Issuer")
|
||
Item
1(b).
|
Address
of Issuer's Principal Executive Offices:
|
|
140
Intracoastal Pointe Drive, Suite 404
|
||
Jupiter,
Florida 33477
|
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Items
2(a),
|
Name of Persons Filing,
Address of Principal
Business Office and
|
|
(b)
and (c).
|
Citizenship:
|
|
This
Amendment No. 3 to Schedule 13G is being filed on behalf of The Pinnacle
Fund, L.P. and Barry M. Kitt, as joint filers (collectively, the
"Reporting Persons").
|
||
The
Reporting Persons have entered into a Joint Filing Agreement, a copy of
which is filed with this Amendment No. 3 to Schedule 13G as Exhibit 1,
pursuant to which the Reporting Persons have agreed to file this Amendment
No. 3 to Schedule 13G jointly in accordance with the provisions of Rule
13d-1(k) of the Securities Exchange Act of 1934, as
amended.
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||
The
principal business office of the Reporting Persons is 4965 Preston Park
Blvd., Suite 240, Plano, TX 75093. For citizenship, see Item 4
of each cover page.
|
||
Item
2(d).
|
Title
of Class of Securities:
|
|
Common
Stock, par value $.001 per share (the "Common Stock")
|
||
Item
2(e).
|
CUSIP
Number:
|
|
26745T101
|
||
Item
3.
|
Not
applicable
|
|
Item
4.
|
Ownership.
|
|
(a)
|
Amount
beneficially owned:
|
|
2,385,772
shares of Common Stock*
|
||
CUSIP
NO. 26745T101
|
Page
5 of 7
|
(b)
|
Percent
of class:
|
||
Based
on 29,939,375 shares of Common Stock of the Issuer outstanding as of March
28, 2007, as indicated in the Issuer’s Annual Report on Form 10-KSB, filed
on April 2, 2007 and 68,700 shares of Common Stock issuable upon exercise
of a certain warrant held by the Reporting Persons, the Reporting Persons
hold approximately 8.0%* of the Common Stock of the
Issuer.
|
|||
(c)
|
Number
of shares to which such person has:
|
||
(i)
|
Sole
power to vote or direct the vote: 2,385,772 shares of Common
Stock *
|
||
(ii)
|
Shared
power to vote or direct the vote: 0
|
||
(iii)
|
Sole
power to dispose or to direct the disposition of: 2,385,772
shares of Common Stock *
|
||
(iv)
|
Shared
power to dispose of or direct the disposition of: 0
|
||
*This
statement is filed on behalf of The Pinnacle Fund, L.P. (“Pinnacle”) and
Barry M. Kitt. Pinnacle Advisers, L.P. (“Advisers”) is the
general partner of Pinnacle. Pinnacle Fund Management, LLC
(“Management”) is the general partner of Advisers. Mr. Kitt is
the sole member of Management. Mr. Kitt may be deemed to be the
beneficial owner of the shares of Common Stock beneficially owned by
Pinnacle. Mr. Kitt expressly disclaims beneficial ownership of
all shares of Common Stock beneficially owned by
Pinnacle.
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Item
5.
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Ownership
of Five Percent or Less of a Class.
|
||
Not
applicable
|
|||
Item
6.
|
Ownership
of More than Five Percent on Behalf of Another Person.
|
||
Not
applicable
|
|||
Item
7.
|
Identification
and Classification of the Subsidiary Which Acquired the Security Being
Reported By the Parent Holding Company.
|
||
Not
applicable
|
|||
Item
8.
|
Identification
and Classification of Members of the Group.
|
||
Not
applicable
|
|||
CUSIP
NO. 26745T101
|
Page
6 of 7
|
Item
9.
|
Notice
of Dissolution of a Group.
|
Not
applicable
|
|
Item
10.
|
Certification.
|
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose
or effect.
|
CUSIP
NO. 26745T101
|
Page
7 of 7
|
Dated:
|
February
5, 2009
|
THE
PINNACLE FUND, L.P.
|
||
By:
Pinnacle Advisers, L.P., its general partner
|
||
By:
Pinnacle Fund Management, LLC, its general partner
|
||
By:
|
/s/
Barry M. Kitt
|
|
Barry
M. Kitt, its sole member
|
||
/s/
Barry M. Kitt
|
||
Barry
M. Kitt
|