<SEC-DOCUMENT>0001004878-18-000075.txt : 20180405
<SEC-HEADER>0001004878-18-000075.hdr.sgml : 20180405
<ACCEPTANCE-DATETIME>20180405151117
ACCESSION NUMBER:		0001004878-18-000075
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180402
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180405
DATE AS OF CHANGE:		20180405

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:		18740323

	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>form8k202finresults4-18.txt
<DESCRIPTION>8-K ITEM 2.02
<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): April 2, 2018

                    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))

Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (ss.203.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (ss.204.12b-2 of this
chapter.

Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act. [ ]

                                       1
<PAGE>

Item 2.02   Results of Operations and Financial Condition

     On  April 2,  2018,  the  Company  issued a press  release  announcing  the
Company's financial results for the year ended December 31, 2017.

Item 8.01   Other Events

     On April 3,  2018,  the  Company  held a  conference  call to  discuss  its
financial  results  for the  year  ended  December  31,  2017,  as well as other
information regarding the Company.

Item 9.01   Exhibits

Exhibit
Number      Description of Document
-------     -----------------------

   99.1      April 2, 2018 Press Release

   99.2      Text of opening  remarks by Dan O'Brien  April 3, 2018  conference
             call











                                       2
<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 4, 2018
                                 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>form8k202ex9914-18.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>




                                  EXHIBIT 99.1




<PAGE>


NEWS RELEASE
April 2, 2018


         FSI ANNOUNCES Full Year, 2017 FINANCIAL RESULTS Conference call
         scheduled for Tuesday April 3rd, 11:00am Eastern time, 8:00am
                                  Pacific Time
                            See dial in number below


VICTORIA,  BRITISH COLUMBIA,  April 2, 2018 - 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
full year ended December 31, 2017.

Mr. Daniel B. O'Brien,  CEO, states, "We are disappointed in the revenue for the
quarter and the year. Even after allowing for discontinued Ecosavr business, the
year was down a few per cent. We will do our best to regain growth in 2018.  The
accounting  treatment  for  cleanup  after the fire  makes the  financials  very
confusing  and we  caution  that the  effects  of the fire  will  show up in our
financials  for several more  quarters - at least until the end of Q1 2019." Mr.
O'Brien continues,  "There were also raw material price increases in the quarter
that affected  margins and profits.  We will move toward  passing these costs on
over the next several months."

     o    Sales for the full year 2017 were down approximately 5% at $15,494,325
          when  compared to  $16,246,014  for full year 2016.  The result was an
          after  tax GAAP  accounting  net  income  of  $1,754,741  or $0.15 per
          weighted  average  share  for  2017,  compared  to an  after  tax GAAP
          accounting  net income of  $1,793,334,  or $0.16 per weighted  average
          share in full year 2016. Note: The 2017 financial statement includes a
          significant  insurance  payout as a result  of the fire at the  Taber,
          Alberta factor (see "Gain on involuntary  disposition").  Furthermore,
          as a result of the fire, any additional  significant insurance payouts
          or related expenses (such as write down of inventory,  short term loss
          of  revenue,  etc) will make  year  over  year  financial  comparisons
          difficult in the short term.

     o    Basic  weighted  average  shares used in computing  earnings per share
          amounts  for the full year were  11,485,580  and  11,464,270  for full
          year, 2017 and full year, 2016 respectively.

     o    Non-GAAP  operating cash flow:  For the 12 months ending  December 31,
          2017, net income reflects  $402,708 of non-cash charges  (depreciation
          and stock option expenses), as well as gain (loss) on disposition (and
          involuntary  disposition)  of  equipment,  interest  income,  loss  on
          investment, write down of inventory,  deferred tax expense, and income
          tax.  These  items are items  not  related  to  operating  or  current
          operating activities.  When these items are removed, the Company shows
          operating cash flow of $1,914,148,  or $0.17 per share.  This compares
          with  operating cash flow of  $3,691,711,  or $0.32 per share,  in the
          corresponding  12  months  of 2016 (see the  table  that  follows  for
          details of these calculations).

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  WaterSavrTM  division as a result of the ongoing drought in the
southern United States.  Many  municipalities are water stressed and are seeking
ways to conserve water.

*    a conference  call has been  scheduled for 11:00 am Eastern  Time,  8:00 am
     Pacific Time, on Tuesday April 3, 2018. CEO, Dan O'Brien will be presenting
     and answering questions on the conference call. To participate in this call
     please dial 1-800-289-0438 (or 1-323-994-2083)  just prior to the scheduled
     call time. The conference call title,  "Full Year 2017  Financials," may be
     requested.

                                      1
<PAGE>

The above information and following table contain supplemental information
regarding income and cash flow from operations for the periods ended December
31, 2016 and 2017. 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 12 Months Ended December 31 (12 Months Operating Cash Flow unaudited)
--------------------------------------------------------------------------------

                                                   3 and 12 month revenue ended
                                                                         Dec. 31
                                                       2017           2016
                                                  ------------------------------
3 month                                                  3 month revenue
-------
                                                  ------------------------------
Revenue NON-GAAP                                  $   2,838,865  $   4,083,162


                                                  ------------------------------
                                                         12 month revenue
                                                  ------------------------------
12 month
Revenue GAAP                                      $ 15,494,325   $ 16,246,014
Net income (loss) GAAP                            $  1,754,741 a $  1,793,334
Net income (loss) per share GAAP                  $       0.15 a $      0.16

--------------------------------------------------------------------------------

12 month weighted average shares used in             11,485,580     11,464,270
computing per share amounts - basic GAAP
                                                  ------------------------------
                                                   12 month Operating Cash Flow
The following calculations begin with: Net                ended Dec. 31
income (loss). GAAP
                                                  ------------------------------
Operating cash flow (12 month). NON-GAAP.         $  1,914,148 b  $ 3,691,711 b

Operating Cash flow per share (12 months) -       $       0.17 b  $      0.32 b
basic. NON-GAAP
Net Non-cash Adjustments (as per Consolidated     $    402,708 c  $   606,397 c
Statement of Cash Flow - 12 month) - NON-GAAP

12 month basic weighted average shares used in      11,485,580     11,464,270
computing per share amounts - basic. GAAP
--------------------------------------------------------------------------------

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

a) Non-GAAP - there was a significant  insurance  payout as a result of the fire
at  the  Taber,   Alberta   factor  (see  "Gain  on   involuntary   disposition"
($2,043,614).

b) Non-GAAP - amounts exclude certain cash and non-cash items:  depreciation and
stock option  expense  (2017 = $402,708,  2016 = $606,397),  gain/(loss)  on the
Involuntary  disposition  (or  sale) of  equipment  (2017 =  $2,043,614,  2016 =
$6,848),  write down of inventory (2017 = $51,346,  2016 = N/A), interest income
(2017 = $913,  2016 = $2,184  ),  Loss on  investment  (2017 =  $84,066,  2016 =
$15,086),  Deferred tax expense (2017 = $985,495,  2016 = $303,793),  and Income
tax (2017 = $680,319,  2016 = $982,133).  See the financial  statements  for all
adjustments.

c) Non-GAAP - amounts  represent  depreciation and stock  compensation  expense.
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
                  6001 54th Ave, Taber, Alberta, CANADA T1G 1X4
                                                                     Jason Bloom

                                                       Toll Free: 800 661 3560
                                                             Fax: 250 477 9912
                                            E-mail: 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: info@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>form8k202ex9924-18.txt
<DESCRIPTION>SPEACH
<TEXT>




                                  EXHIBIT 99.2




<PAGE>


Full year 2017

Good morning. I'm Dan O'Brien, CEO of Flexible Solutions.

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 2017.

Before focusing on our financials,  I'd like to talk about our recovery from the
fire,  our product  lines and what we think  might  occur over the next  several
quarters.

The fire at Taber was  unfortunate,  however,  we have  received a total of $5.7
million  Canadian from our insurance  and may receive  additional  funds in 2018
after all details of the  equipment  we lost have been  reviewed by our insurer.
The Heatsavr(TM)  liquid pool cover is back in production to serve our worldwide
customer base. The property is ready for  construction  but, because the bids to
rebuild  were  unreasonably  high,  we  bought  an  existing  building.  The new
building,  just blocks from the old one, now houses our Heatsavr  inventory  and
accounting activities.  The property where the fire took place will be sold when
a reasonable offer is received.

The NanoChem division, NCS, represents most of the revenue of FSI. This division
makes thermal  poly-aspartic acid, called TPA for short, a biodegradable polymer
with many  valuable  uses.  NCS also  manufactures  SUN 27(TM) and N Savr 30(TM)
which are used to reduce nitrogen fertilizer loss from soil.

TPA is used in agriculture to  significantly  increase crop yield. The method of
action is by slowing  crystal growth between  fertilizer  ions and other ions in
the soil resulting in fertilizer  remaining  available  longer for the plants to
use.  The  attraction  between  the TPA and the  fertilizer  ions  also  reduces
fertilizer  run-off.  Keeping fertilizer more easily available for crops to use,
results in better yield with the same level of fertilization.

TPA in agriculture has a strong economic value for all links in the sales to end
user chain.  There are good profits from  manufacturer  through the distribution
system to the grower,  yet the grower  still earns a great profit from the extra
crops produced using the same land but no extra fertilizer. A new trial on field
tomatoes in Florida has just been  completed.  The total yield  increase  from 3
pickings is 6% which represents  several hundred dollars per acre in new revenue
for the farmer at a cost of only $20 per acre for the TPA used.

                                       1
<PAGE>

TPA is also a biodegradable way of treating oilfield water to prevent pipes from
plugging with mineral scale. Our sales into this market are well established and
growing steadily but, can be subject to temporary  reductions when production is
cut  back  or  when  platforms  are  shut  down  for  reconditioning.  A  simple
explanation of TPA's effect is that it prevents the scaling out of minerals that
are part of the water fraction of oil as it exits the rock formation.  The scale
must be prevented to keep the oil recovery pipes from clogging.

SUN 27(TM) and N Savr 30(TM) are our nitrogen conservation products. Nitrogen is
a critical  fertilizer  but it is subject to loss through  bacterial  breakdown,
evaporation  and soil  runoff.  Both our nitrogen  products  are  becoming  well
respected.

SUN 27(TM) is used to conserve  nitrogen from attack by soil  bacterial  enzymes
while N Savr  30(TM) is directed  toward  nitrogen  loss  through  leaching  and
evaporation.  Each of our nitrogen  products  are equal to, or better than,  the
competing products and we have very compelling pricing.

NCS  Nitrogen  conservation  products  utilize  more  environmentally   friendly
solvents than the traditional versions.

Watersavr(TM):  We are continuing our efforts in the USA, Turkey, Africa, Chile,
Brazil, parts of East-Asia and Australia.

We like to illustrate the potential of WaterSavr(TM): using it on the Salton Sea
for 6 months a year would save 320,000 acre feet of water per year. This is more
than 100 billion gallons.  It's not just the water;  WaterSavr(TM) can have huge
effects on city water budgets.  Delivered  water costs now exceed $1000 per acre
foot in many  California  cities and the total cost of saving an acre foot using
WaterSavr(TM)  is less than $200.  WaterSavr(TM)  can reduce  annual losses from
reservoirs by up to 2 feet per treated acre.

The City of San Diego has finished the extra  research  they decided to do after
our very  successful  trial  together,  which we reported last year. The results
re-confirm that  WaterSavr(TM)  does not change water quality.  This was already
known from  research  done by the South Nevada Water  Authority and published in
the  world  renowned  "AWWA  Journal"  several  years  ago.  Regrettably,   some
individuals  inside the San Diego water bureaucracy still refuse to issue the PO
we were  promised in February  2017.  Every year that the City of San Diego does
not use  Watersavr(TM)  the City is wasting 12 - 14 million  dollars of taxpayer
funds. We found out a month ago that the SD employee,  Isam Hireish, who told us
he had reported the WaterSavr(TM)  success to his senior management,  did not do
so. We are  finding a way to go above Mr.  Hireish  to see if the City  wants to
save water and money.

                                       2
<PAGE>

Q1 and the rest of 2018

TPA, SUN 27(TM) and N Savr 30(TM) for  agricultural  use have peak uptake in Q1.
We  expected  Q4  increases  in uptake  compared  to the year  earlier  quarter,
however,  production  and truck  availability  at the end of Q4  pushed  several
orders into Q1 2018. As a result, Q1 2018 agriculture sales look strong based on
2 months of data.

WaterSavr(TM)  did not finish the year as well as it started.  After a good sale
to  Mauritius  in Q1 2017 and an order from  Brazil  soon  after,  there were no
further sales of any significance.  In addition to the misbehavior in San Diego,
the purchase  order from Turkey we reported last fall was not paid for so it did
not ship.  We are  looking  for an  alternate  distributor  since we believe the
Turkish  water  authorities  are in  favor  of using  the  technology.  We get a
constant  stream of inquiries about  Watersavr(TM)  and continue to believe that
the product line is worth supporting.

We hope that full year 2018  revenue  will  increase  significantly  compared to
2017. We would also expect that profits and operating cash flow will continue to
increase  provided  that the cost of raw materials  don't  increase more quickly
than we can move our pricing  upward.  The  accounting  effects of the fire will
distort the numbers  unpredictably and the usual warning applies - that we can't
control customer behavior,  shipping dates,  weather, crop pricing, oil platform
maintenance and the other variables of our business,  so quarterly  results will
be unlikely to form a straight line on a graph.

Highlights of the financial results:

Sales for the year decreased 5% to $15.5  million,  compared with $16.25 million
for FY 2016.  The  result is a gain of $1.75  million  or $0.15 per share in the
2017 period,  compared to a gain of $1.76  million or $0.16 per share,  in 2016.
The major  factors that reduced  profits were reduced sales and increases in raw
material  costs.  Over  several more  quarters,  the fire  accounting  will have
unusual and unpredictable effects on our financials.  The amounts should be less
and less over time.  We are working to increase our pricing to customers so that
the selling  prices reflect the higher raw material costs we must pay. This will
proceed over the remainder of 2018.

Working capital is excellent,  including  substantial  cash on hand as well as a
line of credit with Harris Bank of Chicago. We are confident that we can execute
our growth plans with our existing capital.

The insurance recovery and site remediation costs from the Taber fire have had a
large effect on our results in 2017 as well as 2016. Additional recoveries,  tax
adjustments,  depreciation on the new building and the amounts  received already
will affect our GAAP  financials  until at least Q2 2019 - the period allowed by
Canadian tax law before a final tax occurs on any profits from an insured event.
It is highly  probable  that our  deferred  tax asset [see  balance  sheet] will
offset any tax owing on the insurance recovery.

The text of this speech will be available on our website by Wednesday, April 4th
and   email   or  fax   copies   can  be   requested   from   Jason   Bloom   at
Jason@flexiblesolutions.com.

Thank you, the floor is open for questions.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
