Document:

THIS WARRANT AND THE SECURITIES  ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN
REGISTERED  UNDER THE  SECURITIES  ACT OF 1933,  AS AMENDED (THE "ACT"),  OR ANY
STATE  SECURITIES  LAWS,  AND  MAY  NOT  BE  SOLD,   TRANSFERRED,   ASSIGNED  OR
HYPOTHECATED UNLESS (i) THERE IS AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE
ACT COVERING SUCH SECURITIES OR (ii) THE COMPANY  RECEIVES AN OPINION OF COUNSEL
FOR THE  HOLDER  OF THESE  SECURITIES  REASONABLY  SATISFACTORY  TO THE  COMPANY
STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION  REQUIREMENTS OF THE ACT AND IS IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS.

THIS WARRANT IS ISSUED PURSUANT TO THAT CERTAIN  PLACEMENT AGENCY AGREEMENT (THE
"PLACEMENT AGENCY AGREEMENT") AMONG CCP WORLDWIDE,  INC., DYADIC  INTERNATIONAL,
INC.,  BREAN MURRAY & CO., INC., AND SANDERS  MORRIS HARRIS GROUP,  INC.,  DATED
SEPTEMBER 28, 2004.

                                                         Dated: November 1, 2004

                           DYADIC INTERNATIONAL, INC.

                     WARRANT ("WARRANT") TO PURCHASE SHARES
                                       OF
                    COMMON STOCK, $0.001 PAR VALUE PER SHARE
                                 _______ SHARES

      1. Number of Shares Subject to Warrant. This is to certify that, FOR VALUE
RECEIVED,  _____________  (the "Investor"),  is entitled to purchase from Dyadic
International,  Inc., a Delaware  corporation  formerly  known as CCP Worldwide,
Inc.  (the  "Company"),  at any time  before  the  termination  of this  Warrant
pursuant to Section 3 hereof, at an exercise price equal to $3.33 per share (the
exercise price in effect from time to time  hereafter  being called the "Warrant
Price"),  _____ shares ("Warrant Shares") of the Company's common stock,  $0.001
par value per share  ("Common  Stock"),  upon such  Investor's  exercise of this
Warrant pursuant to Section 7 hereof.  The number of Warrant Shares  purchasable
upon  exercise  of this  Warrant  and the  Warrant  Price  shall be  subject  to
adjustment from time to time as described herein.

      2.  Definitions.  As used in this Warrant,  the following terms shall have
definitions ascribed to them below:

<PAGE>

      (a) "Business Day" shall mean any day except Saturday,  Sunday and any day
      which shall be a legal holiday or a day on which banking  institutions  in
      the  state  of New  York  are  authorized  or  required  by  law or  other
      government  actions to close  between the hours of 9:30 a.m. and 5:00 p.m.
      Eastern Standard Time.

      (b) "Holder" shall mean the Investor and any permitted transferees.

      (c) "Trading Market" means the following markets or exchanges on which the
      Warrant  Shares are listed or quoted for trading on the date in  question:
      the  American  Stock  Exchange,  the New York Stock  Exchange,  the Nasdaq
      National Market,  the Nasdaq SmallCap Market or the NASD  Over-The-Counter
      Bulletin Board (the "OTC Bulletin Board").

      (d) "VWAP" shall mean for any date,  the price  determined by the first of
      the following clauses that applies: (a) if the Common Stock is then listed
      or quoted on a Trading  Market,  other that the OTC  Bulletin  Board,  the
      daily volume  weighted  average trading price of the Common Stock for such
      date on the  primary  Trading  Market  on which the  Common  Stock is then
      listed or quoted as  reported  by  Bloomberg  Financial  L.P.  (based on a
      Trading  Day from 9:30 a.m.  Eastern  Standard  Time to 4:02 p.m.  Eastern
      Standard Time) using the AQR function; (b) if the Common Stock is not then
      listed or quoted on a Trading Market other than the OTC Bulletin Board and
      if prices for the Common Stock are then quoted on the OTC Bulletin  Board,
      the volume  weighted  average  trading  price of the Common Stock for such
      date on the OTC  Bulletin  Board or if there are no  trades on that  date,
      then the average of the closing bid and ask prices of the Common  Stock as
      reported by the OTC Bulletin  Board for that date; (c) if the Common Stock
      is not then  listed or quoted on a Trading  Market or on the OTC  Bulletin
      Board and if prices for the Common  Stock are then  reported  in the "Pink
      Sheets"  published by the National  Quotation  Bureau  Incorporated  (or a
      similar  organization  or agency  succeeding to its functions of reporting
      prices),  the most  recent  bid  price per  share of the  Common  Stock so
      reported for that date;  or (d) in all other cases,  the fair market value
      of  a   share   of   Common   Stock   as   determined   by  a   nationally
      recognized-independent  appraiser  selected  in good faith by the Board of
      Directors of the Company.

      3. Termination.  Unless terminated sooner under the terms of this Warrant,
this Warrant shall terminate and no longer be exercisable at 5:00 p.m.,  Eastern
Standard Time, on October 29, 2009.

      4. Fractional Shares. No fractional shares shall be issuable upon exercise
of this Warrant and the number of shares to be issued shall be rounded up to the
nearest whole share.

      5. No Shareholder  Rights.  This Warrant, by itself, as distinguished from
any  shares  purchased  hereunder,  shall not  entitle  the Holder to any of the
rights of a shareholder of the Company.

                                       2
<PAGE>

      6.  Reservation of Stock. The Company will reserve from its authorized and
unissued Common Stock a sufficient  number of shares to provide for the issuance
of Warrant  Shares upon the exercise or conversion of this Warrant.  Issuance of
this Warrant shall  constitute full authority to the Company's  officers who are
charged  with the duty of executing  stock  certificates  to execute,  issue and
deliver the necessary  certificates  for shares of Warrant Shares  issuable upon
the exercise or conversion of this Warrant.

      7. Exercise of Warrant.

      (a) This Warrant may be exercised at any time prior to its  termination by
the  surrender  of this  Warrant,  together  with the Notice of Exercise and the
Investment  Representation Statement in the forms attached hereto as Attachments
1 and 2, respectively,  duly completed and executed,  at the principal office of
the  Company,  specifying  the  portion  of this  Warrant  to be  exercised  and
accompanied  by  payment in full of the  Warrant  Price in cash or by check with
respect to the shares of Warrant Shares being purchased.

      (b) Alternatively,  this Warrant may be exercised at any time prior to its
termination by the surrender of this Warrant with the Form of Cashless  Exercise
attached  hereto as  Attachment 3 (a "Cashless  Exercise"),  duly  completed and
executed, at the principal office of the Company,  specifying the portion of the
Warrant to be exercised.  Such Cashless Exercise shall be deemed a waiver of the
obligation of the Holder to pay all or any portion of the Warrant Price.  In the
event of a Cashless Exercise,  the Holder shall receive that number of shares of
Common Stock  determined by multiplying  the number of shares of Common Stock in
respect  of which  such  Warrants  are then  exercised  by a  fraction,  (a) the
numerator of which shall be an amount equal to the VWAP (as such term is defined
in Section 2(d) hereof) per share of Common Stock  averaged over the most recent
five (5) trading days before the date of the  Company's  receipt of the properly
completed  and signed form of Cashless  Exercise,  less the  Warrant  Price,  as
adjusted in accordance with the provisions of Section 8 of this Warrant, and (b)
the  denominator  of which shall be such average VWAP per share of Common Stock.
The Cashless  Exercise  may not be exercised  unless such average per share VWAP
exceeds the Warrant Price.

      (c) This Warrant shall be deemed to have been exercised  immediately prior
to the close of business on the date of its  surrender  for exercise as provided
above,  and the person entitled to receive the shares of Warrant Shares issuable
upon exercise  shall be treated for all purposes as the holder of such shares of
record as of the close of  business on such date.  As  promptly  as  practicable
after such date,  the  Company  shall issue and deliver to the person or persons
entitled to receive the same a  certificate  or  certificates  for the number of
full shares of Warrant Shares issuable upon such exercise.  If the Warrant shall
be  exercised  for less than the total  number of shares of Warrant  Shares then
issuable  upon  exercise,  promptly  after  surrender  of the Warrant  upon such
exercise,  the Company will  execute and deliver a new  Warrant,  dated the date
hereof,  evidencing the right of the Holder to the balance of the Warrant Shares
purchasable hereunder upon the same terms and conditions set forth herein.

      8. Adjustment of Exercise Price and Number of Shares. The number of shares
issuable  upon  exercise  of this  Warrant  (or any  shares  of  stock  or other
securities or property at the time  receivable or issuable upon exercise of this
Warrant)  and the Warrant  Price  therefor  are subject to  adjustment  upon the
occurrence of the following events:

                                       3
<PAGE>

            (a) Adjustment for Stock Splits, Stock Dividends, Recapitalizations,
etc. The Warrant  Price and the number of shares  issuable upon exercise of this
Warrant  shall each be  proportionally  adjusted to reflect any stock  dividend,
stock split,  reverse  stock  split,  combination  of shares,  reclassification,
recapitalization  or other  similar  event  altering  the number of  outstanding
shares of the Company's common stock.

            (b) Adjustment for Other  Dividends and  Distributions.  In case the
Company shall make or issue, or shall fix a record date for the determination of
eligible  holders  entitled to receive,  a dividend or other  distribution  with
respect to the shares  payable in securities  of the Company  then,  and in each
such  case,  the  Holder,  on  exercise  of this  Warrant  at any time after the
consummation,  effective date or record date of such event,  shall  receive,  in
addition to the Warrant Shares (or such other stock or  securities)  issuable on
such exercise  prior to such date,  the  securities of the Company to which such
Holder would have been entitled upon such date if such Holder had exercised this
Warrant immediately prior thereto (all subject to further adjustment as provided
in this Warrant).

      9. Adjustment for Capital Reorganization,  Consolidation,  Merger or Sale.
If any  capital  reorganization  of the  capital  stock of the  Company,  or any
consolidation or merger of the Company with or into another corporation,  or the
sale of all or substantially all of the Company's assets to another  corporation
shall be effected in such a way that holders of the Company's capital stock will
be  entitled  to  receive  stock,  securities  or assets  with  respect to or in
exchange for the  Company's  capital  stock,  then in each such case the Holder,
upon the exercise of this Warrant,  at any time after the  consummation  of such
capital  reorganization,  consolidation,  merger,  or sale, shall be entitled to
receive,  in lieu of the stock or other securities and property  receivable upon
the  exercise of this  Warrant  prior to such  consummation,  the stock or other
securities  or property to which such Holder would have been  entitled upon such
consummation if such Holder had exercised this Warrant  immediately prior to the
consummation of such capital reorganization, consolidation, merger, or sale, all
subject to further  adjustment  as provided in this  Section 9; and in each such
case,  the terms of this Warrant  shall be  applicable to the shares of stock or
other securities or property  receivable upon the exercise of this Warrant after
such consummation.

      10.  Notice  of  Warrant.  On  the  happening  of an  event  requiring  an
adjustment of the Warrant Price or the Warrant Shares purchasable hereunder, the
Company shall forthwith give a written notice to the Holder stating the adjusted
Warrant Price and the adjusted  number and kind of securities or other  property
purchasable  under this Warrant  resulting  from the event and setting  forth in
reasonable  detail  the  method  of  calculation  and the facts  upon  which the
calculation  is based.  The Board of Directors  of the  Company,  acting in good
faith, shall determine the calculation.

      11. Call of Warrant.  At any time after the Closing Date as defined in the
Subscription  Agreement and from time to time thereafter (the "Effective Date"),
the Company shall have the right, upon 15 Business Days' prior written notice to
the Holder (the "Call Notice"),  to call all or any portion of this Warrant at a
price equal to $.001 per Warrant Share (the "Call Price") at any time,  provided
that (i) the Warrant Shares are  registered  for resale  pursuant to the Act and
shall  have been for at least  the  20-trading  day  period  preceding  the Call
Notice, (ii) the prospectus under which such Warrant Shares have been registered
has not been suspended at any time during the  20-trading  day period  preceding
the Call Notice,  (iii) the Warrant  Shares are  currently  listed (and have not
been  suspended from trading) on a Trading Market as of the date the Call Notice
is delivered to the Holder  through the  effective  date of such call,  (iv) the
Company is not in default  (or taken any action or failure to act which  through
the passage of time would result in a default) under the subscription  agreement
that the Warrant  Shares have been  registered  pursuant to, and (v) the average
VWAP for the  Common  Stock on a Trading  Market  for any  period of at least 10
consecutive  Business Days is equal to or greater than 150% of the Warrant Price
(subject  to  adjustment  to  reflect  forward or reverse  stock  splits,  stock
dividends,  recapitalizations and the like) (the "Threshold Price"). The Company
must  exercise  this right to call the Warrant  within 3 trading  days after the
satisfaction  of the last of the  conditions  in clauses  (i) through (v) of the
immediately  foregoing  sentence  to be  satisfied.  At any  time  prior  to the
Effective  Date of such call,  the Holder shall have the right to exercise  this
Warrant in accordance with its terms. As soon as practicable after the Effective
Date of such call,  the  Company  shall mail or deliver to the Holder a check in
the  amount of the Call  Price  times the  number of  Warrant  Shares  remaining
available for purchase under this Warrant at the Effective Date. Upon receipt of
such check,  the Holder shall surrender,  via mail or delivery,  this Warrant to
the  Company  for  cancellation.  After the  Effective  Date of such call,  this
Warrant shall no longer be exercisable.

                                       4
<PAGE>

      12.  Additional  Restrictions  on Exercise.  In not event shall the Holder
hereof  have the right to  exercise  any  portion of this  Warrant for shares of
Common  Stock or to dispose of any  portion of this  Warrant to the extent  such
right to effect such exercise or disposition  would result in the Holder and its
affiliates  together  beneficially  owning  more than  4.99% of the  outstanding
shares of Common Stock.  For purposes of this Section 11,  beneficial  ownership
shall be determined in accordance with Section 13(d) of the Securities  Exchange
Act of 1934, as amended,  and  Regulation  13D-G  thereunder.  The  restrictions
contained in this Section 11 may not be altered,  amended, deleted or changed in
any matter  whatsoever  without the consent of the Holder and the holders of the
outstanding shares of Common Stock and the Holder shall approve, in writing such
alteration,  amendment,  deletion or change. Nothing in this Section 11 shall be
construed as limiting the exercise or  disposition of all or any portion of this
Warrant,  either by the  Holder or as may be  required  pursuant  to  Section 10
above,  to the extent such exercise or disposition of all or any portion of this
Warrant would not result in such Holder and its affiliates together beneficially
owning more than 4.99% as a result of such  disposition or exercise,  whether in
whole or in part.

      13.  Transfer of Warrant.  This Warrant may be  transferred or assigned by
the Holder hereof in whole or in part only to bona fide directors,  officers and
employees of Investor,  provided that the transferor provides,  at the Company's
request,  an opinion of counsel  satisfactory  to the Company that such transfer
does not require  registration under the Act and any other applicable federal or
state securities laws, and is not otherwise transferable.

      14.  Registration  Rights.  Investor and any other  Holders of the Warrant
shall  have the same  right to have the shares of Common  Stock  underlying  the
Warrant to be included in the  Company's  Registration  Statement (as defined in
the Subscription Agreement,  which is defined in the Placement Agency Agreement)
under the Act as provided for in such Subscription Agreement.

                                       5
<PAGE>

      15  Amendments  and Waivers.  This Warrant and any term hereof may only be
amended, waived,  discharged or terminated by a written instrument signed by the
Company and the Investor.

      16. Miscellaneous. This Warrant shall be governed by the laws of the State
of  Delaware,  as such laws are  applied to  contracts  to be  entered  into and
performed  entirely  in Delaware by  Delaware  residents.  The  headings in this
Warrant are for purposes of  convenience  and reference  only,  and shall not be
deemed to constitute a part hereof.  All notices and other  communications  from
the Company to the Holder of this  Warrant  shall be  delivered,  personally  or
mailed by first class mail,  postage  prepaid,  to the address  furnished to the
Company in writing by the last Holder of this  Warrant who shall have  furnished
an address to the Company in writing,  and if mailed shall be deemed given three
Business Days after deposit in the United States mail.

                                       6
<PAGE>

      IN  WITNESS  WHEREOF,  the  Company  has  caused  this  Warrant to be duly
executed as of the date first written above.

                                       DYADIC INTERNATIONAL, INC.
                                       (f/k/a CCP Worldwide, INC.)

                                       By:
                                          --------------------------------------

                                       Name:
                                            ------------------------------------

                                       Title:
                                             -----------------------------------

                                       7
<PAGE>

                                  Attachment 1

                               NOTICE OF EXERCISE

TO: DYADIC INTERNATIONAL, INC.

      1. The undersigned  hereby elects to  purchase_____________________Warrant
Shares of Dyadic International, Inc. (f/k/a CCP Worldwide, Inc.) pursuant to the
terms of the  attached  Warrant,  and tenders  herewith  payment of the purchase
price in full, together with all applicable transfer taxes, if any.

      2. Please issue a certificate  representing  said shares of Warrant Shares
in the name specified below:

        ------------------------                     --------------------------
        Name                                         Name

        ------------------------                     --------------------------
        Street Address                               Street Address

        ------------------------                     --------------------------
        State, City and Zip Code                     State, City and Zip Code

HOLDER:

-------------------------------
Signature of Holder of Warrant

-------------------------------
Name of Holder of Warrant (print)

--------------------------
Date

                                       8
<PAGE>

                                  Attachment 2

                       INVESTMENT REPRESENTATION STATEMENT

                            Shares of Warrant Shares
                     (as defined in the attached Warrant) of
                           DYADIC INTERNATIONAL, INC.

In connection with the purchase of the above-listed securities,  the undersigned
hereby represents to Dyadic International, Inc. (f/k/a CCP Worldwide, Inc.) (the
"Company") as follows:

      (a) The  securities  to be received  upon the exercise of the Warrant (the
"Warrant  Shares" as defined  in the  attached  Warrant)  will be  acquired  for
investment for the undersigned's own account; not as a nominee or agent, and not
with a view to the sale or distribution of any part thereof, and the undersigned
has no present  intention  of selling,  granting  participation  in or otherwise
distributing the same, but subject, nevertheless, to any requirement of law that
the disposition of the  undersigned's  property shall at all times be within the
undersigned's  control.  By executing this Statement,  the  undersigned  further
represents  that  the  undersigned  does not  have  any  contract,  undertaking,
agreement  or  arrangement  with  any  person  to  sell,   transfer,   or  grant
participation to such person or to any third person, with respect to any Warrant
Shares issuable upon exercise of the Warrant.

      (b) The  undersigned  understands  that the Warrant  Shares  issuable upon
exercise of the Warrant at the time of issuance may not be registered  under the
Act, and applicable  state  securities  laws, on the ground that the issuance of
such  securities  is exempt  pursuant  to Section  4(2) of the Act and state law
exemptions  relating to offers and sales not by means of a public offering,  and
that  the   Company's   reliance  on  such   exemptions  is  predicated  on  the
undersigned's representations set forth herein.

      (c) The undersigned  agrees that in no event will the  undersigned  make a
disposition  of any Warrant  Shares  acquired  upon the  exercise of the Warrant
unless and until (i) the  undersigned  shall have  notified  the  Company of the
proposed  disposition  and shall have  furnished the Company with a statement of
the circumstances surrounding the proposed disposition, and (ii) the undersigned
shall have furnished the Company with an opinion of counsel  satisfactory to the
Company  and  Company's  counsel  to the  effect  that  (A)  appropriate  action
necessary for compliance with the Act and any applicable  state  securities laws
has been taken or an exemption from the registration requirements of the Act and
such laws is  available,  and (B) the proposed  transfer will not violate any of
said laws.

      (d) The  undersigned  acknowledges  that an  investment  in the Company is
highly  speculative  and  represents  that the  undersigned  is able to fend for
himself,  herself or itself in the transactions  contemplated by this Statement,
has such  knowledge and  experience  in financial and business  matters as to be
capable of evaluating the merits and risks of the undersigned's investments, and
has the ability to bear the economic risks  (including the risk of a total loss)
of the undersigned's investment. The undersigned represents that the undersigned
has had the opportunity to ask questions of the Company concerning the Company's
business  and  assets  and  to  obtain  any  additional  information  which  the
undersigned  considered  necessary  to verify the  accuracy of or to amplify the
Company's  disclosures,  and  has had  all  questions  which  have  been  asked,
satisfactorily answered by the Company.

                                       9
<PAGE>

      (e) The  undersigned  acknowledges  that the Warrant Shares  issuable upon
exercise of the Warrant must be held indefinitely unless subsequently registered
under  the  Act  or an  exemption  from  such  registration  is  available.  The
undersigned  is aware of the  provisions of Rule 144  promulgated  under the Act
which permit limited resale of shares purchased in a private  placement  subject
to the satisfaction of certain  conditions,  including,  among other things, the
existence of a public market for the shares, the availability of certain current
public  information  about the Company,  the resale  occurring not less than one
year after a party has purchased and paid for the security to be sold,  the sale
being  through a  "broker's  transaction"  or in  transactions  directly  with a
"market  maker" (as provided by Rule 144(f)) and the number of shares being sold
during any three-month period not exceeding specified limitations.

HOLDER:

-------------------------------
Signature of Holder of Warrant

-------------------------------
Name of Holder of Warrant (print)

--------------------------
Date

<PAGE>

                                  Attachment 3

                            FORM OF CASHLESS EXERCISE

TO: DYADIC INTERNATIONAL, INC.

      1. The undersigned  hereby elects a Cashless  Exercise with respect to the
purchase  of ____  Warrant  Shares  of Dyadic  International,  Inc.  (f/k/a  CCP
Worldwide, Inc.) pursuant to the terms of Section 7(b) of the attached Warrant.

      2. Please issue a certificate  representing  said shares of Warrant Shares
in the name specified below:

        ------------------------                     ---------------------------
        Name                                         Name

        ------------------------                     ---------------------------
        Street Address                               Street Address

        ------------------------                     ---------------------------
        State, City and Zip Code                     State, City and Zip Code

HOLDER:

-------------------------------
Signature of Holder of Warrant

-------------------------------
Name of Holder of Warrant (print)

--------------------------
DateFIRST AMENDMENT
                                       TO
                              COMMON STOCK WARRANT
                                       OF
                           DYADIC INTERNATIONAL, INC.

      This FIRST AMENDMENT (this "First  Amendment") is made and entered into as
of the 19th day of August,  2004 by and between  Dyadic  International,  Inc., a
Florida corporation (the "Company"), and X ("X").

                                    RECITALS:

      A. The Company and X are parties to that certain Common Stock Warrant (the
"Warrant"), pursuant to which the Company granted X the right to purchase shares
of Common Stock, no par value, of the Company ("Shares").  All capitalized terms
used but not otherwise  defined  herein shall have the meanings given such terms
in the Warrant.

      B. X is the holder of the Warrant and has not made any  assignment  of any
of his rights thereunder or interest therein.

      C. The Warrant was granted in  consideration  for X's  participation  in a
revolving  loan facility for the Company  evidenced by that certain $3.0 million
revolving note (as amended, the "Note").

      D. To facilitate  the Company's  ability to raise  additional  capital for
ongoing operations,  the Company and X have agreed (a) that the maturity date of
the Note be extended  from  January 1, 2005 to January 1, 2007 and (b),  that in
consideration  for such extension,  the exercise price of the Warrant be reduced
to Three Dollars and Thirty Three Cents ($3.33) per Share.

                                    AGREEMENT

      NOW THEREFORE,  in consideration of the foregoing Recitals, and other good
and  valuable  consideration  the  receipt and  sufficiency  of which are hereby
mutually and expressly acknowledged, the parties hereto agree as follows:

      1. Incorporation of Recitals.  The above Recitals are incorporated in this
First Amendment by this reference and the parties  acknowledge  them as true and
accurate.

                                       1

      2. Amendment of the Warrant. The Warrant is hereby amended by deleting the
introductory  paragraph of the Warrant in its entirety and replacing it with the
following:

      "For value received,  Dyadic  International,  Inc., a Florida  corporation
(the  "Company")  hereby  certifies  that X (the  "Holder") or his  assign(s) is
entitled to purchase  from the Company,  at any time or from time to time during
the Exercise  Period (as defined  below),  in whole or in part,  up to _________
shares of Common  Stock,  no par value,  of the Company,  at the price per share
equal to $3.33 (the "Exercise Price")."

      3. Effect of First Amendment. Except as specifically amended by this First
Amendment,  the Warrant  shall  continue in full force and effect in  accordance
with its original  terms,  and all  references  to the Warrant in any  document,
letter,  certificate,  the Warrant itself, or any  communication  issued or made
pursuant  to or with  respect  to the  Warrant,  shall be deemed to refer to the
Warrant as amended pursuant to this First Amendment.

      4.   Counterparts.   This  First  Amendment  may  be  signed  in  multiple
counterparts,  each of which shall be deemed to be an original and all of which,
taken together, shall constitute one and the same instrument.

      IN WITNESS  WHEREOF,  the Company and X have executed this First Amendment
as of the date first above-written.

DYADIC INTERNATIONAL, INC.
a Florida corporation

By:
   -----------------------------
   Name:  Mark A. Emalfarb
   Its:   CEO

-------------------------------
X

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