<SEC-DOCUMENT>0001004878-22-000004.txt : 20220401
<SEC-HEADER>0001004878-22-000004.hdr.sgml : 20220401
<ACCEPTANCE-DATETIME>20220401171754
ACCESSION NUMBER:		0001004878-22-000004
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220401
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220401
DATE AS OF CHANGE:		20220401

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:		22799386

	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>form8k202yrend4-22.txt
<DESCRIPTION>8-K YEAR END 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): April 1, 2022

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

          Alberta                    001-31540                 71 163 0889
      ---------------              -------------              -------------
(State or other jurisdiction   (Commission File No.)           (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-14(c) under the
    Exchange Act (17 CFR 240.13e-4(c))

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

                                                       Name of exchange
     Title of each class       Trading Symbol          on which 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 March 29,  2022,  the  Company  issued a press  release  announcing  its
financial results for the year ended December 31, 2021.

Item 8.01 Other Events

     On  December  31, 2021 the Company  held a  conference  call to discuss its
financial results for the year ended April 1, 2021, as well as other information
regarding the Company.

Item 9.01 Exhibits

Exhibit
Number      Description of Document
-------     -------------------------
 99.1       March 29, 2022 Press Release

 99.2       Text of conference call speech by Dan O'Brien.


<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, 2022
                                 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>form8k202ex9914-22.txt
<DESCRIPTION>99.1 PRESS RELEASE
<TEXT>


[GRAPHIC OMITTED][GRAPHIC OMITTED]

NEWS RELEASE
March 29, 2022


                FSI ANNOUNCES FULL YEAR, 2021 FINANCIAL RESULTS A
        Conference call is scheduled for Friday April 1st, 2022, 11:00am
                        Eastern time, 8:00am Pacific Time
                    See dial in number and explanation below

VICTORIA,  BRITISH COLUMBIA,  March 29, 2022 - 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
full year ended December 31, 2021.

Mr. Daniel B. O'Brien,  CEO,  states,  "We are very pleased with the results for
2021. In addition to the 10% revenue increase, profits were up 16% and operating
cash flow  increased by 24%. These results were achieved in a year when shipping
costs quintupled and raw materials  prices  increased very rapidly.  It's due to
the skill and hard work of the whole FSI team that we were so successful."

Mr. O'Brien continues,  "In 2021, we engaged with new prospective  customers and
introduced additional products to existing customers. We anticipate that much of
this  preparation  will result in new sales in 2022.  We  estimate  that we will
exceed last years growth and profit results in the 22 year."

     o    Sales for the Full Year were  $34,416,335,  up approximately  10% when
          compared to sales of  $31,407,454 in the  corresponding  period a year
          ago. The financials  show a Full Year,  2021 net profit of $3,449,162,
          or $0.28 per share,  compared to a net income of $2,977,050,  or $0.24
          per share, in Full Year,  2020.  Note: the financials do not take into
          account potential tariff rebates that are currently being applied for.
          The tariffs were  charged on some raw  materials  used to  manufacture
          products that were shipped in from 2019 through 2021.

     o    Basic  weighted  average  shares used in computing  earnings per share
          amounts were  12,316,254 and  12,240,641 for full year,  2021 and full
          year, 2020 respectively..

     o    Non-GAAP  operating cash flow:  For the 12 months ending  December 31,
          2021,   net   income   reflects   $1,176,047   of   non-cash   charges
          (depreciation,  stock option expenses), as well as Gain (loss) on sale
          of land,  Gain  (loss) on  disposition  of  equipment,  Gain (loss) on
          investment,   Interest  expense,   Interest  income,   write  down  of
          inventory,  Income  tax  expense/recovery,  and  pre  tax  Net  income
          attributable to non-controlling interests. These are items not related
          to current  operating  activities.  When these items are removed,  the
          financials  show operating cash flow of $5,645,095 or $0.46 per share.
          This compares with  operating  cash flow of $ 4,514,182,  or $0.37 per
          share in the  corresponding  12 months  of 2020  (see the  table  that
          follows for details of these calculations).

The NanoChem division and ENP subsidiary  continue to be the dominant sources of
revenue and cash flow for the Company.  New opportunities  continue to unfold in
detergent,   water  treatment,  oil  field  extraction,   turf,  ornamental  and
agricultural use to further increase sales in these divisions.

Conference  call A conference call has been scheduled for 11:00 am Eastern Time,
8:00 am Pacific  Time,  on Friday  April 1st,  2022.  CEO,  Dan O'Brien  will be
presenting  and answering  questions on the  conference  call. To participate in
this call  please  dial  1-866-518-6930  (or  1-203-518-9713)  just prior to the
scheduled  call time.  To join the call  participants  will be requested to give
their name and company  affiliation.  The conference  ID:  SOLUTIONS and or call
title  Flexible  Solutions  International  - Full Year 2021  Financials  will be
requested


<PAGE>


The above  information  and  following  table contain  supplemental  information
regarding income and cash flow from operations for the period ended December 31,
2021.  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 Full Year Ended December 31 (12 Months Operating Cash Flow)
                                   (Unaudited)
--------------------------------------------------------------------------------
                                                 12 months ended December 31
                                                    2021             2020
                                               ---------------------------------
                                               ---------------------------------
Revenue                                         $ 34,416,335  $  31,407,454

Income (loss) before income tax - GAAP          $  6,650,756  $   5,190,975

Provision for Income tax - net  - GAAP          $ (2,356,499) $  (1,607,441)

Net income (loss)  - GAAP                       $  3,449,162  $   2,977,050

Net income (loss) per common share - basic. -
GAAP                                            $  0.28        $   0.24

12 month weighted average shares used in
computing per share amounts - basic.-  GAAP       12,316,254     12,240,641

                                                 12 month Operating Cash Flow
                                                       Ended December 31
                                               ---------------------------------
                                               ---------------------------------
Operating Cash Flow (12 months). NON-GAAP       $5,645,095a,b,c $ 4,514,182a,b,c

Operating Cash Flow per share excluding
non-operating items and items not related
to current operations (12 months) - basic.
-NON-GAAP                                         0.46a,b,c        0.37a,b,c

Non-cash Adjustments (12 month) -GAAP           $1,176,047d     $ 1,007,684d

Shares (12 month basic weighted average)
used in computing per share amounts - basic
-GAAP                                           12,316,254       12,240,641
--------------------------------------------------------------------------------

Notes: certain items not related to "operations" of the Company's net income are
listed below.

a)  Non-GAAP  - Flexible  Solutions  International  purchased  65% of ENP in 4th
quarter,  2018 (October 2018).  Therefore Operating Cash Flow is adjusted by the
pre tax Net income or loss of the non-controlling interest in ENP. An adjustment
to Operating  cash flow has been made to account for the use of a pre tax amount
versus an after tax amount which was originally used in that year.

b) Non-GAAP - amounts exclude certain cash and non-cash items:  Depreciation and
Stock  compensation  expense (2021 = $1,176,047,  2020 =  $1,007,684),  Interest
expense  (2021 = $199,930,  2020 = $260,657),  Interest  income (2021 = $77,999,
2020 = $53,101), Gain on investment (2021 = $507,143, 2020 = $877,358),  gain on
sale of equipment  (2021 = N/A, 2020 = 9,490),  Gain on sale of property (2021 =
$44,330,  2020 = N/A),  Gain on  acquisition  of ENP Realty (2021 = N/A,  2020 =
$133,341),  Deferred income tax recovery  (expense)  (2021 = ($363,317),  2020 =
($409,553)),  Income tax (2021 = $1,993,182, 2020 = $1,197,888),  and pretax Net
income  attributable to  non-controlling  interests  (2021 = $1,214,206,  2020 =
871,844). *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 (2021 =
$507,143,  and 2020 =  $877,358),  including  those from 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>form8k202ex9924-22.txt
<DESCRIPTION>99.2 SPEECH
<TEXT>

FY 2021

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 2021.

Before  discussing our financials,  I'd like to update our Company condition and
our product lines along with what, in our opinion, might occur in early 2022.

Covid virus:  The NanoChem  Subsidiary,  the ENP  Subsidiary and the Florida LLC
investment are all engaged in producing for the agriculture  and/or the cleaning
products sectors. Therefore, we are considered essential services and are likely
to remain so even if restrictions  are  reinstated.  Virtually all our employees
are fully  vaccinated.  Covid will have effects on our supply chains out of Asia
that may cause delays from time to time.

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.  It acts 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.


<PAGE>


TPA is also a biodegradable way of treating oilfield water to prevent pipes from
plugging with mineral scale. 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.

SUN 27(TM) and N Savr 30(TM) are nitrogen conservation  products.  Nitrogen is a
critical  fertilizer that can be lost 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 Division:  ENP represents most of our other revenue. ENP is focused on sales
into the greenhouse,  turf and golf markets,  while,  our NCS sales are into row
crop  agriculture.  Q4 was strong,  as hoped.  Q1 has started well and we expect
similar growth in 2022 as was experienced in 2021.

The Florida LLC investment:  Once again,  this  investment was  profitable.  The
Company is focused on international  sales into multiple  countries all of which
are facing different issues and responding in varied ways. Q4 2021 was less than
hoped for, however,  we have seen a very strong rebound in Q1 2022.  Indications
are that growth by the LLC in the 30% range is possible for 2022 as a whole.

Strategic  investment in Lygos: In December 2020, FSI invested $500,000 in Lygos
in return for  equity.  We made a second  investment  of  $500,000 in June 2021.
Lygos is using the investment to complete  development  of a microbial  route to
aspartic  acid using corn sugar as a  feedstock.  FSI would be the major user of
aspartic acid derived this way and believes that sustainable aspartic acid would
allow us to obtain large new customers and develop valuable new products. Lygos'
scientific  team have already  successfully  developed  other  organic acids and
cannabinoids  from sustainable  feedstock and are recognized as one of the world
leaders in synthetic  biology by their peers in the industry  and  academia.  We
have high  confidence  in their  ability to achieve  sustainable  aspartic  acid
through  a  fermentation  route.  Once  the  economic  microbial  route is fully
developed,  we plan to work with Lygos to build  capacity  and produce  aspartic
acid which we can then polymerize into sustainable polyaspartates.


<PAGE>


Q1 and 2 2022
TPA,  SUN 27(TM) and N Savr 30(TM) for  agricultural  use have peak uptake in Q1
and Q2. This year is somewhat  different due to high crop and fertilizer prices.
We  are  seeing  increased  interest  in our  products  and  stronger  ordering.
Maintaining  inventory to service customers will be key to maximizing sales and,
as one would expect,  shipping delays are not helping.  To date, our preordering
of inventory has made sure that no sales have been lost.

Oil, gas and industrial  sales of TPA experienced  increased sales in late Q4 21
and into Q1 22. This is driven by shortfalls of competing  products and high oil
prices.  This is likely to  continue  through the first half of 22 but we do not
consider it a permanent effect at this time.

Tariffs:  Since Sept 30th 2018, several 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 have applied for
the export rebates  available to recover the tariffs.  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 can take many
months to arrive;  we submitted our completed  applications  more than 3.5 years
ago. The total dollar  amount due back to us now exceeds $1 MM and  continues to
increase. The rebates will increase profitability and cash flow while decreasing
cost of goods for the future  quarters  in which the rebates  are  received.  In
early July, we received a response to our revised  application  of January 2021.
We learned  five months ago that our  application  has been sent to a government
lab so that our  formula-based  calculations  can be verified.  There is no time
frame available for completion of this step.

Shipping and Inventory:  Ocean shipping from Asia to the US and ocean  shipments
from the US to  international  ports continue to take much longer and prices per
container  are more than triple  normal.  Land  transport  inside the US is also
taking  much longer than usual and  pricing is  extremely  high as well.  We are
doing our best to cope with  shipping  issues by ordering  far ahead but we warn
that some  disruption  will be unavoidable and some of the extra costs will have
to be borne by us in order to retain customers.


<PAGE>


Raw material  prices have also increased  substantially  over the last 6 months.
Passing price increases along to customers can take several months and result in
temporarily  constrained  margins.  A large proportion of these adjustments were
begun in late Q4 2021 and not  completed  until  early  March this year.  Our Q4
profits show the effect of raw material costs advancing far quicker than selling
prices can be revised.  This  effect  will be less  visible in Q1 2022 but still
present,  while we expect  profits  to return to normal  levels  for the rest of
2022.  We expect  revenue,  operating  cash  flow and  profit to grow as fast or
faster than it did in 2021.

Highlights  of the financial  results:
We are very pleased with the results for 2021.  Revenue,  profits and  operating
cash flow were all up significantly.  These results were achieved in a year when
shipping costs quintupled and raw materials prices increased very rapidly.  It's
due to the skill and hard work of the whole FSI team that we were so successful.
Throughout  2021,  we engaged  with new  prospective  customers  and  introduced
additional  products  to existing  customers.  We  anticipate  that much of this
preparation  will result in new sales in 2022.  We estimate  that we will exceed
last years growth rate in all the above metrics for the coming year.

Sales for the year  increased 10% to 34.4  million,  compared with $31.4 million
for full year 2020.  The  increased  sales are mostly the result of new business
with a small portion attributable to price increases.

Profits:  The result is a profit of $3.45 million or 28 cents per share in 2021,
up 16% from a gain of $2.98 million or 24 cents per share, in 2020.

Operating  Cash Flow:  This non-GAAP  number is useful to show our progress with
non-cash  items  removed for clarity.  For 2021 it was $5.65 million or 46 cents
per share up 24% from $4.51 million or 37 cents per share in the 2020 period.

Long term debt:  We continue to pay down our  long-term  debt  according  to the
terms of the loans.

Working capital is adequate for all our purposes and is increasing  continuously
as we book retained profit from sales. We also have lines of credit with Midland
States  Bank  for the ENP and NCS  subsidiaries.  We are  confident  that we can
execute our plans with our existing capital.  The equity investment in Lygos was
made with cash on hand through FSL, our Canadian operating company.


<PAGE>


The text of this  speech will be  available  as an 8K filing on  www.sec.gov  by
Monday,  April 4th.  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>
