<SEC-DOCUMENT>0001004878-15-000089.txt : 20150403
<SEC-HEADER>0001004878-15-000089.hdr.sgml : 20150403
<ACCEPTANCE-DATETIME>20150402174405
ACCESSION NUMBER:		0001004878-15-000089
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150331
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150403
DATE AS OF CHANGE:		20150402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FLEXIBLE SOLUTIONS INTERNATIONAL INC
		CENTRAL INDEX KEY:			0001069394
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS CHEMICAL PRODUCTS [2890]
		IRS NUMBER:				911922863
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31540
		FILM NUMBER:		15749267

	BUSINESS ADDRESS:	
		STREET 1:		2614 QUEENSWOOD DR
		CITY:			VICTORIA B C
		STATE:			A1
		ZIP:			V8N 1X5
		BUSINESS PHONE:		2504779969

	MAIL ADDRESS:	
		STREET 1:		2614 QUEENSWOOD DR
		CITY:			VICTORIA BC CANADA
		STATE:			A1
		ZIP:			V8N 1X5
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8kitem801concall4-15.txt
<DESCRIPTION>FORM 8-K
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K


                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

              Date of Report (date of earliest event reported): March 31, 2015

                           FLEXIBLE SOLUTIONS INTERNATIONAL INC.
                           -------------------------------------
                   (Exact name of Registrant as specified in its charter)


     Nevada                         001-31540                 91-1922863
--------------------            ---------------------      ------------------
(State or other jurisdiction    (Commission File No.)       (IRS Employer
of incorporation)                                          Identification No.)

                              615 Discovery Street
                       Victoria, British Columbia V8T 5G4
                   -----------------------------------------
          (Address of principal executive offices, including Zip Code)

Registrant's telephone number, including area code:    (250) 477-9969
                                                      ---------------

                                       N/A
                     -------------------------------------
          (Former name or former address if changed since last report)

Check appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below)

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-14(c) under the
    Exchange Act (17 CFR 240.13e-4(c))


<PAGE>


Item 8.01   Other Items.

     The  Company's  Chief  Executive  Officer,  Dan  O'Brien  has  scheduled  a
conference  call  for  11:00 am EST,  8:00 am PST,  Wednesday  April 1,  2015 to
discuss  the  Company's  2014  financial  results.  To attend  this  call,  dial
1-877-941-0844  (or  1-480-629-9835).  The conference call title "Fourth Quarter
2014 Financials" may be requested.

Item 9.01.  Financial Statements and Exhibits

   (d)        Exhibits

Number     Description

99.1       March 31, 2015 Press Release
99.2       Conference call discussion recording 2014 financial results.






<PAGE>

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Date:  April 1, 2015

                                 FLEXIBLE SOLUTIONS INTERNATIONAL INC.



                                 By:  /s/ Daniel B. O'Brien
                                      ----------------------------------------
                                     Daniel B. O'Brien, President and Chief
                                         Executive Officer





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>form8kex991concall4-15.txt
<DESCRIPTION>EXH 99.1 3/31/15 PRESS RELEASE RE 2014 FIN RESULTS
<TEXT>

                                  EXHIBIT 99.1

<PAGE>


                               FLEXIBLE SOLUTIONS

NEWS RELEASE                                                      March 31, 2015

         FLEXIBLE SOLUTIONS ANNOUNCES FULL YEAR, 2014 FINANCIAL RESULTS
                Conference call is scheduled for April 01, 2015.
                     See the time and dial in number below.



VICTORIA,  BRITISH COLUMBIA,  March 31, 2015 - FLEXIBLE SOLUTIONS INTERNATIONAL,
INC. (NYSE Amex:  FSI,  FRANKFURT:  FXT), is the developer and  manufacturer  of
biodegradable  polymers  for oil  extraction,  detergent  ingredients  and water
treatment as well as crop nutrient  availability  chemistry.  Flexible Solutions
also  manufactures  biodegradable  and  environmentally  safe  water and  energy
conservation technologies. Today the Company announces financial results for the
first quarter and full year ended December 31, 2014.

Mr. Dan O'Brien,  CEO states,  "In 2014 we directed our energy toward increasing
sales and an orderly  close of our  aspartic  acid  project in  Alberta.  In the
second  half of the year,  revenue  growth  resumed  and the large  increase  in
operating  cash  flow for the full  year  shows  the  progress  we have  made in
streamlining  operations.  We  believe  we  executed  on our plan and  intend to
proceed  the same way in  2015.  We were  particularly  pleased  with the  large
WaterSavr sale in Texas and we hope that sale was the first of many."

The Company recognized a $2.4million deferred income tax recovery in 2013 as a
result of closing down the Alberta based aspartic acid facility.  The accounting
adjustment to the Statement of Operations resulted in a substantially higher net
income than what the Company actually earned in that year. One should consider
this large adjustment to the financial statements when comparing net income to
latter or previous years. See details below.

     o    Sales for the full year 2014 were $15,907,849, up 1%, when compared to
          $15,801,596  for full  year  2013.  The  result  was an after tax GAAP
          accounting  net  income of  $403,345,  or $0.03 per  weighted  average
          share,  compared to an accounting net income of  $1,821,634,  or $0.14
          per weighted  average  share in full year  2013(see the bullet  points
          below to explain the significantly large net income number in 2013).

     o    Non-GAAP  operating cash flow: (for details see the following  table).
          For the 12 months  ending Dec. 31, 2014,  net income  (loss)  reflects
          $716,290 of non-cash charges, Income Tax expense of $422,044, and when
          these items,  items not related to current  operations of the Company,
          are  removed  the  Company  shows  positive  operating  cash  flow  of
          $1,541,679 or $0.12 per share.  This compares with 2013 operating cash
          flow of $533,407, or $0.04 per share

     o    The financials  show a significantly  higher  accounting net income in
          2013 versus  2014.  This is largely due to a deferred  tax recovery of
          $2,408,395  which was  realized  as an asset on the  Balance  Sheet in
          2013.  The  Deferred  Asset is the result of the  commencement  of the
          expensing of the Alberta factory against the Company's US income. Past
          and  current  factory  construction  and  operating  expenses  not yet
          applied  against FSI's US income will now be carried forward to reduce
          the NanoChem Division's revenue for income tax purposes.

The NanoChem division continues to be the dominant source of revenue and cash
flow for the Company. New opportunities  continue to unfold in detergent,  water
treatment, oil field extraction and agricultural use to further increase sales
in this division. In past years, the NanoChem division sales have been less
volatile quarter over quarter, however due to increasing sales to agriculture,
revenue seasonality may become larger. Also new sales opportunities have
appeared in the WaterSavr division as a result of the on going drought in the
southern United States. Many municipalities are water stressed and are seeking
ways to conserve water.
<PAGE>

Conference call

** CEO, Dan O'Brien has scheduled a conference call for 11:00am EST, 8:00am PST,
Wednesday April 01, 2013 to discuss the financials. To attend this call, dial
888-455-2296 (or 719-325-2432). The conference call title, `Fourth Quarter 2014
Financials' maybe requested **

The above  information  and  following  table contain  supplemental  information
regarding  income  and  cash  flow  from  operations  for  the  3  &  12  months
respectively ended Dec. 31, 2014 and 2013.  Adjustments to exclude depreciation,
stock option expenses and one time charges are given. This financial information
is a  Non-GAAP  financial  measure  as  defined  by SEC  regulation  G. The GAAP
financial measure most directly  comparable is net income. The reconciliation of
each of the Non-GAAP financial measures is as follows:

                     FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
                      Consolidated Statement of Operations
         For 3 & 12 Months Ended Dec. 31 (12 Months Operating Cash Flow)
                     (12 month audited / 3 month unaudited)
-------------------------------------------------------------------------------

                                                      3 and 12 month revenue
                                                           ended Dec. 31,
                                                       2014           2013
                                                  -----------------------------
3 month                                                  3 month revenue
-------                                           -----------------------------
Revenue NON-GAAP                                  $   3,957,623   $  3,431,433
                                                  -------------   ------------


                                                         12 month revenue
                                                  -----------------------------
12 month
Revenue GAAP                                      $ 15,907,849    $ 15,801,596
Net income (loss) GAAP                            $    403,345 a  $  1,821,634
Net income (loss) per share GAAP                  $       0.03 a  $       0.14 a

12 month weighted average shares used in
computing per share amounts - basic GAAP            13,169,991      13,169,991
                                                  ------------    ------------


The following calculations begin with: Net         12 month Operating Cash Flow
income (loss). GAAP                                       ended Dec. 31,
                                                  -----------------------------
Operating cash flow (12 month). NON-GAAP -
  Excludes: item "a" as indicated and as
  listed in the Notes below.                      $  1,541,679 b   $   533,407 c

Operating Cash flow per share (12 months) -
  basic. NON-GAAP - Excludes: item "a" as
  indicated and as listed in the Notes below.     $       0.12 b   $      0.04 c

Non-cash Adjustments (as per Consolidated
  Statement of Cash Flow)                         $    716,290 d   $  (899,450)d

12 month basic weighted average shares used in
  computing per share amounts - basic. GAAP       $ 13,169,991      13,169,991
                                                  ------------     -----------

Notes:  certain  items not  related to  "operations"  of the  Company  have been
excluded as follows.

a)   Significant information. Expensing of the Alberta factory against US income
     began in 2013.  This resulted in a much lower income tax expense as well as
     a deferred tax recovery  asset  recognized  on the balance  sheet for 2013.
     This created a  significant  difference  in the net income (loss) posted in
     2013 versus 2014.


<PAGE>

b)   NON-GAAP - amount excludes certain non-cash items:  depreciation($789,733),
     stock  compensation  expense($91,168),  and  deferred  income tax  recovery
     ($164,611),  as well as interest  income ($ N/A), gain on sale of equipment
     ($ N/A),  income tax expense  ($422,044).  This is a 12 month number as per
     the financials.

c)   NON-GAAP     -     amount     excludes      certain     non-cash     items:
     depreciation($1,298,616),   stock   compensation   expense($129,155),   and
     deferred   income   tax    recovery($2,408,395),    and   write   down   of
     inventory($81,174),  as well as interest  income ($2,000) a gain on sale of
     equipment   ($2,057),   income  tax  recovery   ($134,720)   and  exclusive
     distributor  fee  ($250,000).  This  is  a  12  month  number  as  per  the
     financials.

d)   NON-GAAP amount represents:  depreciation,  stock based compensation, write
     down of  inventory  and deferred  income tax recovery per the  Consolidated
     Statement of Cash Flows.

Safe Harbor Provision

The Private  Securities  Litigation  Reform Act of 1995 provides a "Safe Harbor"
for  forward-looking  statements.  Certain of the statements  contained  herein,
which are not historical  facts,  are forward looking  statement with respect to
events,  the  occurrence  of  which  involve  risks  and  uncertainties.   These
forward-looking  statements may be impacted, either positively or negatively, by
various factors.  Information concerning potential factors that could affect the
company is detailed  from time to time in the  Company's  reports filed with the
Securities and Exchange Commission.

                        Flexible Solutions International
               206 - 920 Hillside Ave, Victoria, BC V8T 1Z8 CANADA
                                Company Contacts

                                 Flexible Solutions International - Head Office
                                                                     Jason Bloom
                                                               Tel: 250-477-9969
                                                               Tel: 800.661.3560
                                               Email: Info@flexiblesolutions.com

If you have  received  this news  release  by mistake or if you would like to be
removed from our update list please reply to: sara@flexiblesolutions.com

To find out more information about Flexible  Solutions and our products,  please
visit www.flexiblesolutions.com
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>form8kex992concall4-15.txt
<DESCRIPTION>EXH. 99.2 - CONF. CALL DISCUSSION RE FIN RESULTS
<TEXT>

                                  EXHIBIT 99.2

<PAGE>


Conference call FY 2014

Good morning. I'm Dan O'Brien, CEO.

Safe Harbor provision:

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor"
for forward-looking statements. Certain of the statements contained herein,
which are not historical facts, are forward looking statements with respect to
events, the occurrence of which involve risks and uncertainties. These
forward-looking statements may be impacted, either positively or negatively, by
various factors. Information concerning potential factors that could affect the
company is detailed from time to time in the company's reports filed with the
Securities and Exchange Commission.

Welcome to the FSI conference call for full year 2014.

First let me review the changes that have occurred in the past year and then I
will move on to the financials.

The NanoChem Division

This division makes polyaspartic acid [TPA] a biodegradable protein with many
valuable uses. It now represents approximately 95% of revenue and is the sales
and profit driver of our company.

TPA is used in agriculture to increase crop yield. The chemical mechanism is the
ability of TPA to maintain crystal embryos of fertilizer salts in their
embryonic form in the soil for several months, which has the effect of keeping
fertilizer easier for plants to absorb. Because the plant expends less energy
getting its nutrients, it has more energy available to produce valuable crops.
In North America alone, the wholesale market is over 2 billion a year and most
crops are able to use TPA profitably. Crop prices currently available to growers
are well above the breakeven point for using TPA.

TPA is a biodegradable way of treating oilfield water to prevent pipes from
plugging with mineral scale. Our sales into this market are strong and oil
companies in the Nordic countries use TPA as part of environmental regulation.
We are experiencing interest from forward thinking oil producing countries other
than Scandinavia and have reasonable expectations of gaining new customers over
the next several quarters. There is continuing research in the concept of TPA as
part of tight oil and gas fracturing liquids. This use has progressed and we
have seen increased sales over the last year. TPA is used as part of the
fracking fluid and intended to prevent scale from destroying the permeability of
the rock pores as well as its more known function of scale control in piping.
Clogged pores reduce well production. TPA has added value compared to existing
fluid components due to its biodegradability - it does not need to be removed
when cleaning used fracking water and demonstrates driller sensitivity to
environmental safety which can improve relationships with neighbors and
regulators.

                                       1
<PAGE>

SUN 27(TM): We have been selling this product for a year and are satisfied with
the initial success. We expect it to be a significant revenue stream in 2016 and
onward. SUN 27(TM) is a fertilizer additive that reduces the speed of nitrogen
fertilizer degradation in soil. Most soils contain the protein urease, which is
an enzyme that degrades nitrogen fertilizer. Up to half the nitrogen applied to
a field can be lost to urease activity. This is a significant cost to the grower
and has negative environmental side effects. The size of the potential market
for urease inhibition is very large. Nitrogen, in various formats that can be
protected by SUN 27(TM), is applied to millions of acres of crop land worldwide
each year and nitrogen loss through urease enzyme activity destroys large
amounts of expensive nitrogen fertilizer. SUN 27(TM) is equal to, or better
than, competing products and pricing is set to be very competitive at both
wholesale and retail levels. SUN 27(TM) has a lower freezing point than
competing urease inhibitors resulting in reduced storage problems. SUN 27(TM) is
manufactured in the US and sold by our NanoChem subsidiary: www.nanochems.com.
SUN 27(TM) is available in multi-truckload volumes.

DCD 30(TM): As a result of our inventive work to develop SUN 27(TM), we became
expert enough in nitrogen conservation chemistry to formulate a solution to the
second major cause of nitrogen fertilizer loss; de-nitrification. This is also
caused by bacterial activity in soil - warm wet soils are the most prone -
resulting in oxygen being stripped from the fertilizer to leave nitrogen gas.
The gas can't be used by the plants and escapes to the atmosphere. The gold
standard for reducing de-nitrification is a DCD solution and we have developed
an excellent version. We have obtained orders that were delivered in Q1 2015 and
have reasonable expectation of more sales in Q2. At this time we are
manufacturing for distribution under trade names owned by our distributors as
well as our registered trademark: DCD 30(TM).

Watersavr(TM) may have had the breakthrough it has sought for years with the
project in Wichita Falls, TX. We are continuing our efforts in the USA, Turkey,
Morocco, Chile, parts of East-Asia and Australia.

The 2012 Lake Sahara project, the 2013/14 AWWA journal article that resulted
from the Lake Sahara project and the hard work over the last decade at sites
around the world led to the showcase program which completed this fall in
Wichita Falls, Texas. There were no problems encountered during the deployment
and we feel comfortable that we have the equipment and skills to protect much
larger lakes from evaporative loss. The results of the showcase program were
released by the Texas Water Development Board in January 2015, pointed to a high
probability of 15% savings or greater and confirmed no change in water quality
or effect on wildlife. Because the official results are so positive, we are
hopeful that a larger contract for 2015 may be available. The data was received
with extreme interest by water management groups throughout the US and
internationally. We hope the Wichita Falls showcase will be the tipping point
that results in mainstream use of Watersavr(TM).

We are pleased to hear from Lake Sahara, Las Vegas that for the third year in a
row, they are sure they have saved money and water. Water quality is exactly as
it was before the introduction of Watersavr(TM). In addition, the endangered
fish species population of Lake Sahara is larger today than the first year of
Watersavr(TM) use. Lake Sahara has confirmed that they will use our product
again this season.


                                       2
<PAGE>

Q1 AND REST OF 2015

Agriculture revenue in the first 3 months of 2015 has been stronger than 2014.
All three product lines have had increases. We have noted a trend toward more
"just in time" orders this year compared to 2014 which could be related to the
lower crop prices. This might mean the strength in agriculture sales in Q1
continues into Q2.

Oil prices remain low as of the date of this speech. This may or may not
influence our sales into the oil industry. Therefore, we will monitor the
situation closely and remain optimistic that we can continue growing our
oilfield sales in 2015.

Small WaterSavr(TM) sales have occurred already this year. The true evaporation
season is just starting in April and May so we are intent on closing sales in Q2
for delivery in late spring and through the summer. The showcase pilot program
at Wichita Falls, TX has proven yet again that WaterSavr(TM) is safe, effective
and economic. We expect to increase sales substantially in 2015.

We believe we can continue the revenue increase shown in Q3 and Q4 2014 on into
2015. Expecting smooth quarterly growth from a small company with purchase order
based sales would be unrealistic. Instead, we expect lumpy results with an
average upward trend similar to second half 2014.

Highlights of the financial results:

o    Sales for the full year  increased 1% to $15.9 million  compared with $15.8
     million  for 2013.  First half sales were down but strong  growth in second
     half compensated. The result was a gain of $403 thousand or $0.03 per share
     in the 2014 period, compared to a gain of $1.82 million or $0.14 per share,
     in 2013. The financials show a significantly  higher  accounting net income
     in 2013 versus 2014.  This is mostly due to a deferred tax recovery of $2.4
     million  which was realized as an asset on the Balance  Sheet in 2013.  The
     deferred tax asset is the result of the  commencement  of the  expensing of
     the Alberta  factory  against  the  Company's  US income.  Past and current
     factory  construction and operating  expenses not yet applied against FSI's
     US income  will now be carried  forward to reduce the  NanoChem  Division's
     revenue for income tax purposes.  This process will take place over several
     years even though the GAAP method is to assign the  deferred tax asset to a
     single year.

Sales in Q4 were 3.96 million up 15% compared to 3.4 million in the year earlier
period.

Because of the out-size effects of depreciation, stock option expenses and
one-time items on the financials of small companies, FSI also provides a
non-GAAP measure useful for judging year over year success. "Operating cash
flow" is arrived at by removing these items from the statement of operations.

                                       3
<PAGE>

For full year 2014, operating cash flow nearly tripled to $1.54 million or 12
cents per share, compared to $533 thousand and 4 cents per share [revised] in
2013. We are pleased with this improvement and hope to increase again in 2015.
Detailed information on how to reconcile GAAP with non-GAAP numbers is included
in our news release of yesterday, March 31st.

The text of this speech will be available  on our website by Thursday  April 2nd
and  email  copies  can  be  requested  from  Jason  Bloom  at  1800  661  3560.
[Jason@flexiblesolutions.com]

Thank you, the floor is open for questions.













                                       4
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
