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. [ ]


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.


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


[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


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.


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.


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.


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.


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.


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.