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Condensed Interim Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Sales $ 11,685,107 $ 9,214,467 $ 33,633,530 $ 25,374,615
Cost of sales 8,502,551 5,718,082 22,777,467 16,210,071
Gross profit 3,182,556 3,496,385 10,856,063 9,164,544
Operating Expenses        
Wages 587,935 482,561 1,890,727 1,482,036
Administrative salaries and benefits 220,406 217,968 681,017 663,978
Insurance 185,371 204,340 508,056 402,158
Professional fees 131,602 83,033 597,505 177,008
Office and miscellaneous 111,832 46,649 271,144 184,352
Consulting 85,477 76,611 248,168 225,151
Interest expense 80,609 41,749 190,366 155,078
Investor relations and transfer agent fee 34,440 20,761 100,317 68,867
Advertising and promotion 32,705 33,456 124,910 113,980
Lease expense 30,284 28,336 124,123 158,579
Travel 27,659 39,970 120,185 72,274
Research 19,088 16,417 63,345 50,639
Telecommunications 10,879 12,277 31,438 32,476
Shipping 6,042 3,634 18,943 10,897
Utilities 5,451 5,301 20,635 15,866
Commissions 529 (48,070) 61,459 9,180
Bad debt expense 2,000 2,000
Currency exchange (20,983) (13,050) (9,351) 20,776
Total operating expenses 1,549,326 1,253,943 5,042,987 3,845,295
Operating income 1,633,230 2,242,442 5,813,076 5,319,249
PPP loan forgiveness 537,960
Gain on acquisition of ENP Peru 335,051
Gain on investment (451) 92,445 213,865 491,681
Interest income 37,213 35,475 69,354 67,920
Income before income tax 1,669,992 2,370,362 6,431,346 6,416,810
Income taxes        
Income tax expense (349,181) (864,510) (1,604,429) (1,828,693)
Net income for the period including non-controlling interests 1,320,811 1,505,852 4,826,917 4,588,117
Less: Net income attributable to non-controlling interests (212,680) (343,228) (523,272) (798,161)
Net income attributable to controlling interest $ 1,108,131 $ 1,162,624 $ 4,303,645 $ 3,789,956
Income per share (basic) $ 0.09 $ 0.09 $ 0.35 $ 0.31
Income per share (diluted) $ 0.34 $ 0.30
Weighted average number of common shares (basic) 12,384,746 12,324,539 12,376,818 12,312,503
Weighted average number of common shares (diluted) 12,417,026 12,545,102 12,479,769 12,520,074
Other comprehensive income:        
Net income $ 1,320,811 $ 1,505,852 $ 4,826,917 $ 4,588,117
Unrealized gain (loss) on foreign currency translations (70,167) (31,661) (29,531) 88,284
Total comprehensive income 1,250,644 1,474,191 4,797,386 4,676,401
Comprehensive income – non-controlling interest (212,680) (343,228) (523,272) (798,161)
Comprehensive income attributable to Flexible Solutions International Inc. $ 1,037,964 $ 1,130,963 $ 4,274,114 $ 3,878,240