On April 22, 2022, Dyadic International, Inc. decided not to renew the consulting agreement the Company entered into with Novaro Ltd. to engage Matthew Jones as its Managing Director of Business Development and Licensing. Accordingly, Mr. Jones will cease providing services to the Company as its Managing Director of Business Development and Licensing, effective July 21, 2022. Mr. Jones' responsibilities for commercialization and business development will be transitioning to new Chief Business Officer, Joe Hazelton.