May 2021



A Conference call is scheduled for Monday May, 17th, 11:00am Eastern time, 8:00am Pacific Time

See dial in numbers below



VICTORIA, BRITISH COLUMBIA, May 14, 2021 – 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, 2021.


Mr. Daniel B. O’Brien, CEO, states, “Each year brings challenges which we find ways to meet. A year ago, it was Covid. This year it is shipping difficulty and price increases. We are confident that we will overcome these hurdles too.” Mr. O’Brien continues, “The problems I’m speaking of affected Q1 revenue but the sales that were delayed are being recognized in Q2 and our full year expectations remain positive.”  






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 Monday, May 17th. CEO, Dan O’Brien will be presenting and answering questions on the conference call. To participate in this call please dial 1 877‑876‑9174 (or 1 785‑424‑1669) just prior to the scheduled call time.

The conference call title, “FSI First Quarter 2021 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, 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:



Consolidated Statement of Operations

For 3 Months Ended March 31 (3 Months

Operating Cash Flow)




3 months ended March 31







Income (loss) before income tax - GAAP



Provision for Income tax (expense) / recovery  - GAAP

     $ (485,456)

$  (434,988)    

Net income (loss)  - GAAP



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

     $         0.12

$         0.10    

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




3 month Operating Cash Flow

Ended March 31

Operating Cash flow (3 months). NON-GAAP






Operating Cash flow per share excluding non-operating items and items not related to current operations (3 months) – basic. NON-GAAP

     $         0.12a,b,c

$          0.15a,b,c 

Non-cash Adjustments (3 month) GAAP

     $    272,554 d

$    177,640 d

Shares (3 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 -:: Flexible Solutions International purchased 65% of ENP in 4th quarter, 2018 (October 2018). Therefore Operating Cash Flow is adjusted by the net income or loss of the non-controlling interest in ENP (2021 = $186,484, 2020 = $67,015).

b) Non-GAAP - amounts exclude certain cash and non-cash items: depreciation and stock compensation expense (2021 = $272,554, 2020 = $177,640), interest expense (2021 = $62,274, 2020 = $101,425), interest income (2021 = $10,298, 2020 = $414), gain on investment (2021 = $208,968, 2020 = $199,529), PPP loan forgiveness (2021 = $537,960, 2020 = N/A), write down of inventory (2021 = N/A, 2020 = N/A), deferred income tax recovery (2021 = N/A, 2020 = N/A), Income tax (2021 = $485,456, 2020 = $434,988), 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




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