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Condensed Interim Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Sales $ 8,720,621 $ 11,685,107 $ 28,899,429 $ 33,633,530
Cost of sales 7,248,266 8,502,551 21,303,229 22,777,467
Gross profit 1,472,355 3,182,556 7,596,200 10,856,063
Operating Expenses        
Wages 545,255 587,935 2,004,568 1,890,727
Administrative salaries and benefits 392,051 220,406 1,179,370 681,017
Insurance 218,723 185,371 648,698 508,056
Office and miscellaneous 181,349 111,832 355,139 271,144
Interest expense 119,599 80,609 369,967 190,366
Professional fees 97,057 131,602 239,356 597,505
Travel 60,796 27,659 187,060 120,185
Consulting 57,941 85,477 190,171 248,168
Research 52,834 19,088 90,169 63,345
Advertising and promotion 50,909 32,705 161,318 124,910
Lease expense 28,775 30,284 81,715 124,123
Investor relations and transfer agent fee 26,626 34,440 149,511 100,317
Telecommunications 15,640 10,879 38,650 31,438
Utilities 12,249 5,451 25,223 20,635
Shipping 6,032 6,042 15,798 18,943
Currency exchange (6,808) (20,983) 9,693 (9,351)
Commissions 529 2,985 61,459
Total operating expenses 1,859,028 1,549,326 5,749,391 5,042,987
Operating income (386,673) 1,633,230 1,846,809 5,813,076
Gain on acquisition of ENP Peru 335,051
Gain on investment 97,254 (451) 423,957 213,865
Interest income 5,380 37,213 58,565 69,354
Income before income tax (284,039) 1,669,992 2,329,331 6,431,346
Income taxes        
Income tax expense (219,712) (349,181) (873,861) (1,604,429)
Net income for the period including non-controlling interests (503,751) 1,320,811 1,455,470 4,826,917
Less: Net income attributable to non-controlling interests (214,410) (212,680) (479,397) (523,272)
Net income attributable to controlling interest $ (718,161) $ 1,108,131 $ 976,073 $ 4,303,645
Income per share (basic) $ (0.06) $ 0.09 $ 0.08 $ 0.35
Income per share (diluted) $ (0.06) $ 0.09 $ 0.08 $ 0.34
Weighted average number of common shares (basic) 12,435,532 12,384,746 12,434,669 12,376,818
Weighted average number of common shares (diluted) 12,496,748 12,417,026 12,517,064 12,479,769
Other comprehensive income:        
Net income $ (503,751) $ 1,320,811 $ 1,455,470 $ 4,826,917
Unrealized gain (loss) on foreign currency translations 140,928 (70,167) 200,334 (29,531)
Total comprehensive income (362,823) 1,250,644 1,655,804 4,797,386
Comprehensive income – non-controlling interest (214,410) (212,680) (479,397) (523,272)
Comprehensive income attributable to Flexible Solutions International Inc. $ (577,233) $ 1,037,964 $ 1,176,407 $ 4,274,114