XML 19 R9.htm IDEA: XBRL DOCUMENT
v3.21.2

LEASES | 6 Months Ended
--- | ---
Jun. 30, 2021
Leases |
LEASES | 3. LEASES Accounting and reporting guidance for leases requires that leases be evaluated and classified as either operating or finance leases by the lessee and as either operating, sales-type or direct financing leases by the lessor. For leases with terms greater than 12 months, the Company records the related right-of-use (“ROU”) asset and lease obligation at the present value of lease payments over the term. Leases may include fixed rental escalation clauses, renewal options and / or termination options that are factored into the determination of lease payments when appropriate. The Company’s operating leases are included in ROU assets, lease liabilities-current portion and lease liability-less current portion in the accompanying consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. The Company’s leases do not usually provide a readily determinable implicit rate; therefore, an estimate of the Company’s incremental borrowing rate is used to discount the lease payments based on information available at the lease commencement date. The discount rate used was 5.5%. The table below summarizes the right-of-use asset and lease liability for the six months ended June 30, 2021: SUMMARY OF RIGHT-OF-USE ASSET AND LEASE LIABILITY
|  | June 30, 2021 |
Right of Use Assets |  |  |  |
Balance at December 31, 2020 |  | $ | 483,113 |
Depreciation |  |  | (151,550 | )
Balance at June 30, 2021 |  | $ | 331,563 |
Lease Liability |  |  |  |
Balance at December 31, 2020 |  | $ | 483,113 |
Lease interest expense |  |  | 14,590 |
Payments |  |  | (166,140 | )
Balance at June 30, 2021 |  | $ | 331,563 |
Short-term portion |  | $ | 160,115 |
Long-term portion |  |  | 171,448 |
Total |  | $ | 331,563 |
Undiscounted rent payments for the next five years are as follows: SCHEDULE OF UNDISCOUNTED RENT PAYMENTS
2021 |  | $ | 121,760 |
2022 |  |  | 67,320 |
2023 |  |  | 66,180 |
2024 |  |  | 59,520 |
2025 |  |  | 61,020 |
Total |  | $ | 375,800 |
Impact of discounting |  |  | 44,237 |
Lease liability, June 30, 2021 |  | $ | 331,563 |

X
- References No definition available. + Details
Name: | FSI_DisclosureLeasesAbstract
Namespace Prefix: | FSI_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration