14 August 2020




Conference call scheduled for Monday August 17th, 2020, 11:00am Eastern time, 8:00 am Pacific Time

See dial in number below



VICTORIA, BRITISH COLUMBIA, August 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 second quarter (Q2) ended June 30, 2020.


Mr. Dan O’Brien, CEO comments, “Our divisions were busy all quarter making products for essential services in agriculture and cleaning products. Combined with normal operations and organic growth, this resulted in a very strong Q2.” Mr. O’Brien continues, “We are happy to be doing what we can to help during the crisis and will do our best until normal life resumes.”   




  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..


* a conference call has been scheduled for 11:00 am Eastern Time, 8:00 am Pacific Time, on Monday, August 17th, 2020. CEO, Dan O’Brien will be presenting and answering questions on the conference call. To participate in this call please dial toll free 1-800-309-1256(or 1-856-344-9308) just prior to the scheduled call time.

Participation Passcode 345292will be requested. The conference call title, “Second Quarter 2020 Financial Results,” may also be requested.



The above information and following table contain supplemental information regarding income and cash flow from operations for the period ended June 30, 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:



Consolidated Statement of Operations

For 3 Months Ended June 30 (6 Months Operating Cash Flow)



3 months ended June 30 







Income (loss) before income tax - GAAP


$   331,264

Provision for Income tax net  - GAAP

     $  (259,660)


Net income (loss) - Controlling interest - GAAP


$    (27,733)

Net income (loss) per share controlling interest – basic. - GAAP

     $         0.09  

$         0.00    

3 month weighted average shares used in computing per share amounts – basic.-  GAAP




6 month Operating Cash Flow

Ended June 30

Operating Cash Flow (6 months). NON-GAAP

     $ 3,044,425 b,c

$1,692,740 b,c  




Operating Cash flow per share excluding non-operating items and items not related to current operations (6 months) – basic. NON-GAAP

     $          0.25 b,c

$          0.14 b,c 

Non-cash Adjustments (6 month) GAAP

     $     348,191  d

$    373,351 d

Shares (6 month basic weighted average)  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 – For 2019 - Provision for Income tax less Deferred income tax recovery = $529,546 less $125,999. See the financials for these numbers.

b) Non-GAAP - amounts exclude certain cash and non-cash items: depreciation and stock option expense (2020 = $348,191, 2019 = $373,351), Gain on investment (2020 = $539,417, 2019 = $259,514), net gain/(loss) on involuntary disposition of equipment (2020 = N/A, 2019 = N/A), write down of inventory (2019 = N/A, 2018 = N/A), interest income (2020 = $12,614, 2019 = $55,533), Interest expense (2020 = $156,075, 2019 = $247,472)  deferred tax (expense)/recovery (2020 = N/A, 2019 = $125,999),  and Income tax expense(2020 = $694,648, 2019 = $529,546). 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 gain from Flexible Solutions share in the LLC is 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 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.

Flexible Solutions International

6001 54th Ave, Taber, Alberta, CANADA T1G 1X4

Company Contacts

Jason Bloom

Toll Free: 800 661 3560

Fax: 403 223 2905