FLEXIBLE SOLUTIONS INTERNATIONAL INC
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-09-30; filed 2024-11-14.
0001493152-24-045777
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-03-31; filed 2025-05-15.
0001641172-25-010832
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 21 previous paragraphs and 23 current paragraphs.
12 unchanged; 5 reworded; 6 added; 4 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 6 previous and 5 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (6)
Current report
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Current report
The Company also manufactures food grade products that are made and sold by the TPA division.
Current report
*less than 10% in that period
Current report
Other than as disclosed above, we do not know of any significant changes in our expected sources and uses of cash.
Current report
We do not have any commitments or arrangements from any person to provide us with any equity capital.
Current report
There have been no significant changes to the critical accounting estimates disclosed in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 2024 Form 10-K.
Removed paragraphs (4)
Previous report
We have three product lines.
Previous report
Nine Months ended September 30, 2024
Previous report
*not a primary customer in that period
Previous report
See Note 2 to the condensed interim consolidated financial statements included as part of this report for a description of the Company’s significant accounting policies.
Reworded paragraphs (5)
Previous wording
Material changes in the Company’s Statement of Operations for nine and three months ended September 30, 2024 compared to the same period in the prior year are discussed below:
Current wording
Material changes in the Company’s Statement of Operations for three months ended March 31, 2025 compared to the same period in the prior year are discussed below:
Previous wording
Three customers accounted for 60% of our sales during the three months ended September 30, 2024 (2023 –67%) and 52% of our sales during the nine months ended September 30, 2024 (2023 – 49%). The amount of revenue (all from the sale of TPA products) attributable to each customer is shown below.
Current wording
Three primary customers accounted for 49% of the Company’s sales during the three months ended March 31, 2025 (2024 - 55%). The amount of revenue (all from the sale of TPA products) attributable to each customer is shown below.
Previous wording
The Company’s sources and (uses) of cash for the nine months ended September 30, 2024 and 2023 are shown below:
Current wording
The Company’s sources and (uses) of cash for the three months ended March 31, 2025 and 2024 are shown below:
Previous wording
The Company has sufficient cash resources to meets its future commitments and cash flow requirements for the coming year. As of September 30, 2024, working capital was $22,118,657 (December 31, 2023 - $20,172,833) and the Company has no substantial commitments that require significant outlays of cash over the coming fiscal year.
Current wording
The Company has sufficient cash resources to meets its future commitments and cash flow requirements for the coming year. As of March 31, 2025, working capital was $22,796,690 (December 31, 2024 - $22,714,190) and the Company has no substantial commitments that require significant outlays of cash over the coming fiscal year.
Previous wording
Other than as disclosed above, the Company does not know of any trends, demands, commitments, events or uncertainties that will result in, or that are reasonable likely to result in, its liquidity increasing or decreasing in any material way.
Current wording
Other than as disclosed above, we do not know of any trends, demands, commitments, events or uncertainties that will result in, or that are reasonable likely to result in, our liquidity increasing or decreasing in any material way.