1 April 2019



Conference call scheduled for Tuesday April 2nd , 2019, 11:00am Eastern time, 8:00am Pacific Time

See dial in number below



VICTORIA, BRITISH COLUMBIA, April 1, 2019 – 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, 2018.


Mr. Daniel B. O’Brien, CEO, states, “We are pleased with the revenue for the quarter and the year. Even after allowing for discontinued Ecosavr business, 2018 year ended very positively. We will do our best to continue the growth in 2019. 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 2019.” Mr. O’Brien continues, “There were also raw material price increases in the quarter that affected margins and profits. We will move topass these costs on over the next several months.”







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.



* a conference call has been scheduled for 11:00 am Eastern Time, 8:00 am Pacific Time, on Tuesday April 2, 2019. CEO, Dan O’Brien will be presenting and answering questions on the conference call. To participate in this call please dial 1-888-256-1007(or 1-323-994-2093) just prior to the scheduled call time. The conference call title, “Full Year 2018 Financial Results,” may be requested.



The above information and following table contain supplemental information regarding income and cash flow from operations for the periods ended December 31, 2017 and 2018. 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 12 Months Ended December 31 (12 Months Operating Cash Flow unaudited)




3 and 12 month revenue ended Dec. 31




3 month

3 month revenue

Revenue NON-GAAP

$   5,674,167

$   2,838,865       





12 month revenue

12 month



Revenue GAAP

$ 17,829,518

$ 15,494,325

Net income (loss) GAAP

$   2,490,268 a

$   1,754,741 a    

Net income (loss) per share GAAP

$            0.21 a

$            0.15




12 month weighted average shares used in computing per share amounts – basic GAAP




The following calculations begin with: Net income (loss). GAAP

12 month Operating Cash Flow

ended Dec. 31

Operating cash flow (12 month). NON-GAAP.

$  1,829,328 b

   $   1,914,148 b  




Operating Cash flow per share (12 months) – basic. NON-GAAP

$           0.16 b     

   $            0.17 b

Net Non-cash Adjustments (as per Consolidated Statement of Cash Flow – 12 month) - NON-GAAP


$     453,753 c


   $      402,708 c


12 month basic weighted average shares 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 – there were a significant insurance payouts in both 2017 and 2018 as a result of the fire at the Taber, Alberta factory (see “Gain on involuntary disposition”).  

b) Non-GAAP - amounts exclude certain cash and non-cash items: Depreciation and stock option expense (2018 = $453,753, 2017 = $402,708), Gain/(loss) on the Involuntary disposition (or sale) of equipment (2018 = $1,714,261, 2017 = $2,043,614), Write down of inventory (2018 = N/A, 2017 = $51,346), Interest income (2018 = $36,843, 2017 = $913), Loss on investment (2018 = $3,281, 2017 = $84,066), Deferred tax expense (2018 = $100,000, 2017 = $985,495), and Income tax (2018 = $533,130, 2017 = $680,319). 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