<SEC-DOCUMENT>0001004878-20-000082.txt : 20200515
<SEC-HEADER>0001004878-20-000082.hdr.sgml : 20200515
<ACCEPTANCE-DATETIME>20200515165114
ACCESSION NUMBER:		0001004878-20-000082
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200515
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200515
DATE AS OF CHANGE:		20200515

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:		20886325

	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>form8k2023rdq5-20.txt
<DESCRIPTION>8-K 3RD QUARTER RESULTS
<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): May 14, 2020

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

     Alberta                        001-31540              71-1630889
--------------------          ---------------------    ------------------
(State or other jurisdiction  (Commission File No.)     (IRS Employer
of incorporation)                                      Identification No.)

                                  6001 54 Ave.
                         Taber, Alberta, Canada T1G 1X4
                    ---------------------------------------
          (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  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:

     [ ] 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-4(c)  under the
Exchange Act (17 CFR 240.13e-14c))

Securities registered pursuant to Section 12(b) of the Act:

--------------------------------------------------------------------------------
     Title of each        Trading             Name of each exchange on which
     class                Symbol(s)                     registered
--------------------------------------------------------------------------------
     Common Stock          FSI                        NYSE American
--------------------------------------------------------------------------------

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. [ ]


<PAGE>


Item 2.02   Results of Operations and Financial Condition

     On May 14,  2020,  the  Company  issued  a  press  release  announcing  the
Company's financial results for the three months ended March 31, 2020.

Item 8.01   Other Events

     On May  15,  2020,  the  Company  held a  conference  call to  discuss  its
financial  results for the three months  ended March 31, 2020,  as well as other
information regarding the Company.

Item 9.01   Exhibits

Exhibit
Number      Description of Document
--------    --------------------------
  99.1      May 14, 2020 Press Release

  99.2      Text of opening remarks by Dan O'Brien/May 15, 2020 conference call


<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:  May 15, 2020
                                 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>form8k202ex9915-20.txt
<DESCRIPTION>EXH. 99.1 PRESS RELEASE
<TEXT>

                                  EXHIBIT 99.1

<PAGE>


NEWS RELEASE
May 14, 2020


              FSI ANNOUNCES First Quarter, 2020 FINANCIAL RESULTS
Conference call is scheduled for Friday May 15th , 11:00am Eastern time, 8:00am
Pacific Time
                    See dial in number and explanation below

VICTORIA,  BRITISH COLUMBIA,  May 14, 2020 - 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 (Q1) ended March 31, 2020.

Mr.  Daniel B.  O'Brien,  CEO,  states,  "The  first  quarter of 2020 has been a
difficult  time for many  companies  and  millions  of  people.  The  Company is
satisfied  with our financial  performance  considering  the covid  crisis." Mr.
O'Brien  continues,  "We  remain  in full  production  and are  proud  that  our
agriculture and cleaning product  ingredients are aiding in the struggle against
the disease."

     o    Sales in the first  quarter  (Q1) were  $8,429,486,  down less than 1%
          when  compared to sales of $8,471,476  in the  corresponding  period a
          year ago. The financials show a Q1, 2020 net profit of $1,264,675,  or
          $0.10 per share, compared to a net profit of $1,011,150,  or $0.09 per
          share,  in Q1,  2019.

     o    Basic  weighted  average  shares used in computing  earnings per share
          amounts  were  12,237,798  and  11,705,613  for Q1,  2020 and Q1, 2019
          respectively.

     o    Non-GAAP  operating cash flow: For the 3 months ending March 31, 2020,
          net income reflects $177,640 of non-cash charges (depreciation,  stock
          option  expenses),   as  well  as  gain  (loss)  on  disposition  (and
          involuntary  disposition) of equipment,  gain on investment,  interest
          expense, interest income, write down of inventory, and income tax; Net
          income attributable to non-controlling  interests. These are items not
          related to operating or current operating activities. When these items
          are removed,  the Company shows operating cash flow of $1,778,785,  or
          $0.15 per share. This compares with operating cash flow of $1,300,360,
          or $0.11 per  share,  in the  corresponding  3 months of 2019 (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.

Conference  call

A conference  call has been scheduled for 11:00 am Eastern Time, 8:00 am Pacific
Time,  on Friday May 15th . CEO, Dan O'Brien will be  presenting  and  answering
questions  on the  conference  call.  To  participate  in this call  please dial
800-309-1256  (or 1  856-344-9308  ) just  prior  to the  scheduled  call  time.
Participant code 302299 will be requested. The conference call title, "FSI First
Quarter 2020 Financial Results," may be requested.

The above  information  and  following  table contain  supplemental  information
regarding  income and cash flow from  operations  for the period ended March 31,
2020.  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:


<PAGE>


                     FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
                      Consolidated Statement of Operations
           For 3 Months Ended March 31 (3 Months Operating Cash Flow)
                                   (Unaudited)

                                                    3 months ended March 31
                                                         2020          2019
                                                ---------------------------

Revenue                                         $ 8,429,486     $ 8,471,476
Income (loss) before income tax - GAAP          $ 1,766,678     $ 1,293,495
Provision for Income tax (expense)/recovery     $  (434,988)    $  (253,081)
   - GAAP
Net income (loss)- GAAP                         $ 1,264,675 a   $ 1,011,150 a
Net income (loss) per common share - basic      $      0.10 a   $      0.09 a
   - GAAP
3 month weighted average shares used in
   computing per share amounts - basic - GAAP     12,237,98      11,705,613

                                                  3 Month Operating Cash Flow
                                                      Ended September 30
                                               ------------------------------

Operating Cash flow (3 months). NON-GAAP      $ 1,178,785 b,c   $1,300,360 b,c

Operating Cash flow per share excluding       $      0.15 b,c   $     0.11 b,c
   non-operating items and items not related
   to current operations (9 months) - basic
   NON-GAAP
Non-cash Adjustments (3 month) GAAP           $   177,640 d     $  154,026 d
   Shares (3 month basic weighted average)     12,237,798       11,705,613
   used in 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 -:: Flexible Solutions  International  purchased 65% of ENP in 4th
     quarter, 2018 (October 2018).  Therefore 3 month Net Income is also reduced
     by  the  dollar   amount  of   non-controlling   interest  in  ENP(see  the
     financials).

b)   Non-GAAP - amounts exclude  certain cash and non-cash  items:  depreciation
     and stock compensation expense (2020 = $177,640, 2019 = $154,026), interest
     expense (2020 = $101,425,  2019 = $129,007),  interest income (2020 = $414,
     2019 = $16,252), gain on investment (2020 = $199,529, 2019 = $230,652), net
     gain/(loss)  on involuntary  disposition  of equipment  (2020 = N/A, 2019 =
     N/A), write down of inventory (2019 = N/A, 2018 = N/A), deferred income tax
     recovery (2020 = N/A, 2019 = $125,999),  Income tax (2020 =$434,988, 2019 =
     $379,080),  and Net income attributable to non-controlling  interests.  See
     the financial statements for all adjustments.

c)   The revenue and gain from the 50% investment in the private
     Florida LLC  announced  in January 2019 is not treated as revenue or profit
     from operations by Flexible  Solutions given the Company only purchased 50%
     of the LLC. The profit is treated as investment income and therefore occurs
     below  Operating  income in the  Statement of  Operations.  As a result the
     gains from all investments,  including that of the Florida LLC, are removed
     from the  calculation  to arrive at  Operating  Cash  Flow.

d)   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

                                                                Company Contacts
                                                                     Jason Bloom
                                                         Toll Free: 800 661 3560
                                                               Fax: 403 223 2905
                                              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>form8k202ex9925-20.txt
<DESCRIPTION>EXH. 99.2 CONF. CALL TEXT
<TEXT>

                                  EXHIBIT 99.2


<PAGE>


Q1 2020 speech

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 Q1 2020.

Prior to speaking  about our  financials,  I'd like to talk about our  corporate
condition and product lines plus what we think might occur over the next several
quarters.

Covid Virus:  The NanoChem  Subsidiary,  the ENP  Subsidiary and the Florida LLC
investment are all engaged in producing for the agriculture  sector.  Therefore,
we are  currently  considered  essential  services.  Production  and  sales  are
continuing to meet customer orders.  In hindsight,  Inventory at Dec 31 2019 was
too high. We were expecting  growth in all product lines in 2020.  Instead,  the
virus is likely to prevent  growth or even cause small  revenue  reductions.  We
shrank our  inventory  and  increased  our cash  position in Q1 by ordering less
inventory than we consumed. This tactic will continue until we feel that we have
the right level of inventory to suit the risks of covid.

Our NanoChem division:  NCS represents more than 1/2 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 the fertilizer  remaining  available longer for the plants
to use.

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
normally grow steadily but slowly. 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.  Scale  must be  prevented  to keep the oil
recovery pipes from clogging.

<PAGE>

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.

SUN 27(TM) is used to conserve  nitrogen from attack by soil  bacterial  enzymes
while N Savr 30(TM) is directed toward reducing  nitrogen loss through  leaching
and evaporation.

ENP, the October 2018 acquisition:  ENP is focused on sales into the greenhouse,
turf and golf markets,  whereas,  our NCS sales are into row crop  agriculture -
two very distinct markets.  We account for ENP as a subsidiary and, as expected,
it generated consolidated revenue greater than $8 million in full year 2019. FSI
booked annual pretax  profits of greater than $1 MM from this division which saw
moderate annual growth.  The strong quarters for ENP are 2 and 3 to match the US
spring and summer.  Q1 2020 was stronger  than the year earlier  period.  ENP is
hoping  for  growth  again in 2020 with the  caution  that it could  face  sales
difficulties as a result of the virus.

Effect  of  the  LLC  investment  announced  in  January:  This  investment  was
profitable,  as usual.  The company we invested in ordered similar amounts in Q1
2020 as it did in Q1 2019.  The Company is focused on  international  sales into
multiple countries all of which are facing different covid issues and responding
in varied ways.  The large number of  variables  prevents any useful  prediction
other than probable results similar to 2019.

Watersavr(TM): News regarding Watersavr(TM) trials and sales will be released if
and when it occurs. As the rest of the company grows,  Watersavr(TM) will become
less of a focus but will remain  available for sale to existing and  prospective
customers.

Q2 2020 and the rest of the year

TPA,  SUN 27(TM) and N Savr 30(TM) for  agricultural  use have peak uptake in Q1
and Q2.  2020  appears  to have more  focus on just in time  ordering  which may
increase or reduce Q2 sales depending on weather.  Sales may also be pulled into
Q3. Early buy orders in Q4 could be reduced if our customers  decide to continue
with just in time strategies.

Oil, gas and  industrial  sales of TPA are expected to be flat or mildly down in
Q2 compared to the previous year while  predictions  regarding Q3 and Q4 are not
possible  under the  circumstances.  Like  agriculture,  our  sales to  cleaning
products and water  treatment  are  considered  essential  leaving only O&G as a
market  vertical at  significant  risk. The risk in O&G is not permanent loss of
business,  rather  it is  the  possibility  of  some  wells  shutting  down  for
maintenance while oil prices are low.

Tariffs:  Since Sept 30th 2018,  many of our raw  materials  imported from China
have  included a 10%  additional  tariff which rose to 25% in 2019. US customers
received  price  increases  from  us  as  this  inventory  entered   production.
International  customers are not charged the tariffs because we are applying for
the  export  rebates  available  to  recover  the  tariffs.  As  a  result,  the
accumulating  tariff payments to the Government are affecting our cost of goods,
our cash flow and our profits negatively until the rebates are received. Rebates
are very complicated to apply for and can take many months to arrive.  The total
dollar amount due back to us has become  significant  and continues to increase.
The rebates will increase  profitability  and cash flow while

<PAGE>

decreasing  cost of goods  for the  future  quarters  in which the  rebates  are
received.  We are reasonably  comfortable  in predicting  that some rebates will
arrive in late Q2 or early Q3.

Highlights of the financial results:

Sales for the quarter  decreased  less than 1% to $8.43  million,  compared with
$8.47 million for Q1 2019. The result is a gain of 1.26 MM or 10 cents per share
in the 2020 period, compared to a gain of 1.01 MM or 9 cents per share, in 2019.

Working  capital is adequate  for all our  purposes  and is expected to increase
during 2020 as we book retained profit from sales. Effort will be made to reduce
inventory and accounts receivable while increasing cash until the effects of the
virus  become  more  predictable.  We also have a line of credit with BMO Harris
Bank of  Chicago.  We are  confident  that we can  execute  our  plans  with our
existing capital.  The LLC investment in January 2019 was made with cash on hand
provided by FSL, our Canadian operating company.

The text of this speech will be  available  on our website by Monday,  May 18th.
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>
