SCHEDULE 14A
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant [X]
Filed by Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to ss.240.14a-11(c) or ss.240.14a-12
FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
(Name of Registrant as Specified In Its Charter)
William T. Hart - Attorney for Registrant
(Name of Person(s) Filing Proxy Statement)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed pursuant
to Exchange Act Rule 0-11:
4) Proposed maximum aggregate value of transaction:
5) Total fee paid:
FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
6001 54 Ave.
Taber, AB
Canada T1G 1X4
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD February 27, 2020
To the Shareholders:
Notice is hereby given that the annual meeting of the shareholders of
Flexible Solutions International, Inc. ("Flexible Solutions") will be held at
Unit 15 - 6782 Veyaness Rd., Saanichton, BC Canada V8M 2C2 on February 27, 2020,
at 6:00 p.m. Pacific Time, for the following purposes:
(1) to elect the directors who shall constitute the Company's Board of
Directors for the ensuing year;
(2) to approve on an advisory basis, the compensation of the Company's
executive officers;
(3) to ratify the appointment of Morgan and Company, LLP as the Company's
independent registered public accounting firm for the fiscal year
ending December 31, 2019; and
to transact such other business as may properly come before the meeting.
January 16, 2020 is the record date for the determination of shareholders
entitled to notice of and to vote at such meeting. Shareholders are entitled to
one vote for each share held. As of January 16, 2020 there were 12,235,545
outstanding shares of the Company's common stock.
FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
January 16, 2020 Daniel B. O'Brien, President
PLEASE INDICATE YOUR VOTING INSTRUCTIONS ON THE
ATTACHED PROXY CARD, AND SIGN, DATE AND
RETURN THE PROXY CARD.
TO SAVE THE COST OF FURTHER SOLICITATION,
PLEASE VOTE PROMPTLY
FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
6001 54 Ave.
Taber, AB
Canada T1G 1X4
(250) 477-9969
PROXY STATEMENT
The accompanying proxy is solicited by the Company's directors for voting
at the annual meeting of shareholders to be held on February 27, 2020, at 6:00
p.m. Pacific Time, and at any and all adjournments of such meeting. If the proxy
is executed and returned, it will be voted at the meeting in accordance with any
instructions, and if no specification is made, the proxy will be voted for the
proposals set forth in the accompanying notice of the annual meeting of
shareholders. Shareholders who execute proxies may revoke them at any time
before they are voted, either by writing to the Company at the address shown
above or in person at the time of the meeting. Additionally, any later dated
proxy will revoke a previous proxy from the same shareholder. This proxy
statement was posted on the Company's website on January 16, 2020.
There is one class of capital stock outstanding. Provided a quorum
consisting of one-third of the shares entitled to vote is present at the
meeting, the affirmative vote of a majority of the shares of common stock voting
in person or represented by proxy is required to elect directors and to adopt
the other proposals to come before the meeting. Cumulative voting in the
election of directors is not permitted.
Shares of the Company's common stock represented by properly executed
proxies that reflect abstentions or "broker non-votes" will be counted as
present for purposes of determining the presence of a quorum at the annual
meeting. "Broker non-votes" represent shares held by brokerage firms in
"street-name" with respect to which the broker has not received instructions
from the customer or otherwise does not have discretionary voting authority.
Abstentions and broker non-votes will not be counted as having voted against the
proposals to be considered at the meeting.
PRINCIPAL SHAREHOLDERS
The following table lists, as of January 16, 2020, the shareholdings of (i)
each person owning beneficially 5% or more of the Company's common stock (ii)
each officer of the Company, (iii) each person nominated to be a director, and
(iv) all officers and nominees to the Board of Directors as a group. Unless
otherwise indicated, each owner has sole voting and investment powers over his
shares of common stock.
1
Name and Address Number of Shares (1) Percent of Class
---------------- -------------------- ----------------
Officers and Directors
Daniel B. O'Brien 4,521,900 37.0%
6001 54 Ave.
Taber, AB
Canada T1G 1X4
John Bientjes -- --
46081 Greenwood Drive
Chilliwack, BC
Canada V2R 4C9
Robert Helina 30,000 0.2%
6001 54 Ave.
Taber, AB
Canada T1G 1X4
Dr. Thomas Fyles 15,000 0.1%
Box 3065
Victoria, BC
Canada V8W 3V6
Ben Seaman -- --
Unit 605 55 E. Cordova St.
Vancouver BC
Canada V6A 0A5
David Flynn -- --
202-2526 Yale Court,
Abbotsford, BC
Canada V2S 8G9
All Officers and Directors 4,566,900 37.3%
as a Group (6 persons)
|
Other Principal Shareholders
Comprehensive Financial Planning, Inc. 960,481 7.8%
3950 Fairlane Dr.
Dacula, GA 30019
(1) Includes shares which may be acquired on the exercise of the stock options
listed below, all of which were exercisable as of January 16, 2020.
2
Shares Issuable Upon Exercise
Name the Exercise of Options Price Expiration Date
------ ------------------------ -------- ---------------
Robert Helina 5,000 $1.42 December 31, 2021
5,000 $1.70 December 31, 2022
5,000 $3.46 December 31, 2023
|
ELECTION OF DIRECTORS
Unless the proxy contains contrary instructions, it is intended that the
proxies will be voted for the election of the persons listed below to serve as
members of the board of directors until the next annual meeting of shareholders
and until their successors shall be elected and shall qualify.
All nominees to the Board of Directors have consented to stand for
re-election. In case any nominee shall be unable or shall fail to act as a
director by virtue of an unexpected occurrence, the proxies may be voted for
such other person or persons as shall be determined by the persons acting under
the proxies in their discretion.
Daniel O'Brien and John Bientjes have served as directors for a significant
period of time and each of those directors' long-standing experience with the
Company benefits both the Company and its shareholders. Robert Helina is
qualified to act as a director due to his longstanding financial experience. Dr.
Fyles is qualified to act as a director due to his experience in chemistry. Ben
Seaman is familiar with the Company and is qualified to act as a director due to
his experience in marketing and distribution. David Fynn has accounting
experience which benefits both the Company and its shareholders.
Information concerning the nominees to the Company's Board of Directors
follows:
Name Age Position
----- --- --------
Daniel B. O'Brien 63 President, Director
John H. Bientjes 67 Director
Robert Helina 54 Director
Thomas Fyles 68 Director
Ben Seaman 39 Director
David Fynn 62 Director
|
Directors are elected annually and hold office until the next annual
meeting of our stockholders and until their successors are elected and
qualified. All executive offices are chosen by the board of directors and serve
at the board's discretion.
Daniel B. O'Brien has served as the Company's President and Chief Executive
Officer, as well as a director of the Company since June 1998. He has been
involved in the swimming pool industry since 1990, when he founded the Company's
subsidiary, Flexible Solutions Ltd. From 1990 to 1998 Mr. O'Brien was also a
teacher at Brentwood College where he was in charge of outdoor education.
3
John H. Bientjes has been a director of the Company since February 2000.
Since 1984, Mr. Bientjes has served as the manager of the Commercial Aquatic
Supplies Division of D.B. Perks & Associates, Ltd., located in Vancouver,
British Columbia, a company that markets supplies and equipment to commercial
swimming pools which are primarily owned by municipalities. Mr. Bientjes
graduated in 1976 from Simon Fraser University in Vancouver, British Columbia
with a Bachelor of Arts Degree in Economics and Commerce.
Robert T. Helina has been a director since October 2011. Mr. Helina has
been involved in the financial services industry for over 25 years which has
given him extensive knowledge in business, economics and finance. His specially
is in corporate finance and capital markets. Mr. Helina holds a Bachelor of Arts
degree from Trinity Western University.
Thomas M. Fyles has been a director of the Company since August 2012. Since
1979 Dr. Fyles has been a chemistry professor at the University of Victoria
(Assistant Professor 1979-1984/Associate Professor 1984-1992/and Professor with
Tenure since 1992) Dr. Fyles received his Bachelor of Science degree (with
honors) from the University of Victoria in 1974 and his Ph.D. in chemistry from
York University in 1977. Dr. Fyles was a postdoctoral fellow with Prof. J.M.
Lehn, Institut Le Bel, Universite Louis Pasteur, Strasbourg, France, between
September 1977 and July 1979.
Ben Seaman has been a director of the Company since October 2016. Mr.
Seaman has been the CEO of Eartheasy.com Sustainable Living Ltd since 2007,
growing the company from $50K to over $25M in annual revenue. His company has
contributed over $1M towards clean water projects in Kenya since 2013, and has
been recognized internationally by the Stockholm Challenge Award and the Outdoor
Industry Inspiration Award in 2016. Prior to that, he worked in sales and
investor relations at Flexible Solutions. Mr. Seaman graduated from the
University of Victoria with a Bachelor of Science degree in 2004. He has
significant experience in launching new products, marketing, distribution and
e-commerce in both the US and Canada. He's a strong believer in the triple
bottom line approach to business, giving consideration to social and
environmental issues in addition to financial performance.
David Fynn has been a director of the Company since October 2016. Mr. Fynn
is a Canadian Chartered Professional Accountant and services individuals/
companies in many sectors including mining and commodities in his private
practice. David worked as a senior manager with KPMG in Canada and Ernst & Young
in the United Kingdom and Saudi Arabia. Since 1996 he has been the principal of
D.A. Fynn & Associates Inc., an accounting firm.
Daniel B. O'Brien devotes substantially all of his time to the Company's
business.
The Company's Board of Directors met twice during the year ended December
31, 2018. All of the Directors, attended this meeting either in person, by
telephone conference call or by email.
The Company's Board of Directors does not have a "leadership structure", as
such, since each director is entitled to introduce resolutions to be considered
by the Board and each director is entitled to one vote on any resolution
considered by the Board. The Company's Chief Executive Officer is not the
Chairman of the Company's Board of Directors.
4
The Company's Board of Directors has the ultimate responsibility to
evaluate and respond to risks facing the Company. The Company's Board of
Directors fulfills its obligations in this regard by meeting on a regular basis
and communicating, when necessary, with the Company's officers.
John Bientjes, Dr. Thomas Fyles, Ben Seaman and David Flynn are independent
directors as that term is defined in section 803 of the listing standards of the
NYSE American.
For purposes of electing directors at its annual meeting the Company does
not have a nominating committee or a committee performing similar functions. The
Company's Board of Directors does not believe a nominating committee is
necessary since the Company's Board of Directors is small and the board of
directors as a whole performs this function. The current nominees to the Board
of Directors were selected by a majority vote of the Company's independent
directors.
The Company does not have any policy regarding the consideration of
director candidates recommended by shareholders since a shareholder has never
recommended a nominee to the board of directors. However, the Company's board of
directors will consider candidates recommended by shareholders. To submit a
candidate for the board of directors the shareholder should send the name,
address and telephone number of the candidate, together with any relevant
background or biographical information, to the Company's Chief Executive
Officer, at the address shown on the cover page of this proxy statement. The
board has not established any specific qualifications or skills a nominee must
meet to serve as a director. Although the board does not have any process for
identifying and evaluating director nominees, the board does not believe there
would be any differences in the manner in which the board evaluates nominees
submitted by shareholders as opposed to nominees submitted by any other person.
There have been no material changes to the procedures by which security holders
may recommend nominees to the Company's board of directors during the past three
years.
The Company does not have a policy with regard to board member's attendance
at annual meetings. All board members attended in person or via conference the
last annual shareholder's meeting held on November 20, 2018.
Holders of the Company's common stock can send written communications to
the Company's entire board of directors, or to one or more board members, by
addressing the communication to "the Board of Directors" or to one or more
directors, specifying the director or directors by name, and sending the
communication to the Company's offices in Taber, Alberta. Communications
addressed to the Board of Directors as whole will be delivered to each board
member. Communications addressed to a specific director (or directors) will be
delivered to the director (or directors) specified.
Security holder communications not sent to the board of directors as a
whole or to specified board members are not relayed to board members.
5
The Company has adopted a Code of Ethics that applies to the its Principal
Financial and Accounting Officer, as well as the other company employees. The
Code of Ethics is available at the Company's website at
www.flexiblesolutions.com.
If a violation of the code of ethics act is discovered or suspected, an
officer of the Company must (anonymously, if desired) send a detailed note, with
relevant documents, to the Company's Audit Committee, c/o John Bientjes, 46081
Greenwood Drive, Chilliwack, BC Canada V2R 4C9
Executive Compensation
The following table shows in summary form the compensation earned by (i)
the Company's Principal Executive and Financial Officer and (ii) by each other
executive officer of the Company who earned in excess of $100,000 during the
fiscal years ended December 31, 2018 and 2017:
All
Other
Restric- Annual
ted Stock Options Compen-
Name and Princi- Fiscal Salary Bonus Awards Awards sation
pal Position Year (1) (2) (3) (4) (5) Total
---------------- ------ ------ ----- --------- ------ ------- ------
Daniel B. O'Brien 2018 $ 898,166 -- -- -- -- $898,166
President, Principal 2017 $ 901,605 -- -- -- -- $901,605
Executive and
Financial Officer
|
(1) The dollar value of base salary (cash and non-cash) earned.
(2) The dollar value of bonus (cash and non-cash) earned.
(3) During the periods covered by the table the fair value of stock issued for
services computed in accordance with ASC 718 on the date of grant.
(4) During the periods covered by the table the fair value of options granted
computed in accordance with ASC 718 on the date of grant.
(5) All other compensation received that could not properly be reported in any
other column of the table.
Non-Qualified Stock Option Plan
In August 2014 the Company adopted a Non-Qualified Stock Option Plan which
authorizes the issuance of up to 1,500,000 shares of the Company's common stock
to persons that exercise options granted pursuant to the Plan. The Company's
employees, directors, officers, consultants and advisors are eligible to be
granted options pursuant to the Non-Qualified Plan.
6
The Plan is administered by the Company's Compensation Committee. The
Committee is vested with the authority to determine the number of shares
issuable upon the exercise of the options, the exercise price and expiration
date of the options, and when, and upon what conditions options granted under
the Plan will vest or otherwise be subject to forfeiture and cancellation.
During the fiscal year ended December 31, 2018, the Company issued 110,000
options pursuant to the Non-Qualified Plan.
During the fiscal year ended December 31, 2018, no options were granted to
the Company's officers or directors and 5,000 stock options were exercised by
Robert Helina, one of the Company's directors, at a price of $1.00 per share.
The following table shows information concerning the options granted to the
Company's officers or directors that expired during the fiscal year ended
December 31, 2018:
Options Expired
--------------------------------------------------
Remaining
Number Exercise Contractual
Name of Options Price Term (Years)
---- ---------- --------- ------------
John Bientjes 5,000 $1.00 Nil
|
The following table shows the weighted average exercise price of the
outstanding options granted pursuant to the Company's Non-Qualified Stock Option
Plan as of December 31, 2018, the Company's most complete fiscal year:
Number of
Securities
Remaining
Available for
Number of Future Issuance
Securities to Weighted- Under Equity
be Issued Average Compensation
Upon Exercise Exercise (Excluding
Total Shares of Price of Securities
Reserved Outstanding Outstanding Reflected
Plan Category Under Plans Options Options in Column (a))
------------ ------------- ----------- ----------------
(a) (b) (c)
Non-Qualified Stock
Option Plan 1,500,000 660,000 1.35 751,000
|
The Company's Non-Qualified Stock Option Plan has been approved by the
Company's shareholders.
As of January 16, 2020 options to purchase 594,000 shares of the Company's
common stock were outstanding under the Non-Qualified Stock Option Plan. The
exercise price of these options varies between $0.75 and $3.46 per share. The
options expire at various dates between December 31, 2020 and December 31, 2024.
7
Director Compensation
The Company reimburses directors for any expenses incurred in attending
board meetings. The Company also compensates directors $5,000 annually for each
year that they serve.
The Company's directors received the following compensation during the year
ended December 31, 2018:
Name Paid in Cash Stock Awards (1) Option Awards (2)
---- ------------ ---------------- -----------------
John H. Bientjes $5,000 -- --
Robert Helina $5,000 -- --
Dr. Thomas Fyles $5,000 -- --
Ben Seaman $5,000 -- --
David Fynn $5,000 -- --
|
(1) The fair value of stock issued for services computed on the date of grant.
(2) The fair value of options granted computed in accordance with on the date
of grant.
The terms of outstanding options held by the following persons as of
January 16, 2020 are shown below.
Name Option Price No. of Options Expiration Date
---- ------------ -------------- ---------------
Robert Helina $1.42 5,000 December 31, 2021
Robert Helina $1.70 5,000 December 31, 2022
Robert Helina $3.46 5,000 December 31, 2023
Robert Helina $2.44 5,000(1) December 31, 2024
|
(1) Options are not exercisable until December 31, 2020.
Compensation Committee
The Company's Compensation Committee consists of John Bientjes, Ben Seaman
and David Fynn, all of whom are independent as that term is defined in Section
803 of the listing standards of the NYSE American.
The Compensation Committee is empowered to review and approve the annual
compensation and compensation procedures for the Company's officers and
determines the total compensation level for the Company's Chief Executive
Officer. The total proposed compensation of the Company's Chief Executive
Officer is formulated and evaluated by its Chief Executive Officer and submitted
to the Company's Compensation Committee for consideration.
During the year ended December 31, 2018 the Compensation Committee met
once. All members of the Compensation Committee attended this meeting.
8
During the year ended December 31, 2018, Daniel B. O'Brien, the Company's
only executive officer, did not participate in deliberations of the Company's
Compensation Committee concerning executive officer compensation.
During the year ended December 31, 2018, no director of the Company was
also an executive officer of another entity, which had an executive officer of
the Company serving as a director of such entity or as a member of the
Compensation Committee of such entity.
The following is the report of the Compensation Committee:
The key components of the Company's executive compensation program include
annual base salaries and long-term incentive compensation consisting of stock
options. It is the Company's policy to target compensation (i.e., base salary,
stock option grants and other benefits) at approximately the median of
comparable companies in the industries in which the Company competes.
Accordingly, data on compensation practices followed by other companies in the
industries in which the Company competes is considered.
The Company's long-term incentive program consists exclusively of periodic
grants of stock options with an exercise price equal to the fair market value of
the Company's common stock on the date of grant. To encourage retention, the
ability to exercise options granted under the program may be subject to vesting
restrictions. Decisions made regarding the timing and size of option grants take
into account the performance of both the Company and the employee, "competitive
market" practices, and the size of the option grants made in prior years. The
weighting of these factors varies and is subjective. Current option holdings are
not considered when granting options.
The foregoing report has been approved by the members of the Compensation
Committee:
John Bientjes
Ben Seaman
David Fynn
Audit Committee
The Company's Audit Committee presently consists of John Bientjes, Ben
Seaman and David Fynn all of whom are independent directors and have strong
financial backgrounds. The purpose of the Audit Committee is to review and
approve the selection of the Company's auditors and review the Company's
financial statements with the Company's independent registered public accounting
firm. The Audit Committee also serves as an independent and objective party to
monitor the Company's financial reporting process and internal control systems.
The Audit Committee meets periodically with management and the Company's
independent auditors.
During the fiscal year ended December 31, 2018, the Audit Committee met
four times. All members of the Audit Committee attended these meetings.
9
The following is the report of the Audit Committee:
(1) The Audit Committee reviewed and discussed the Company's audited
financial statements for the year ended December 31, 2018 with the
Company's management.
(2) The Audit Committee discussed with the Company's independent
registered public accounting firm the matters required to be discussed
by Statement on Accounting Standards (SAS) No. 61 "Communications with
Audit Committee" as amended by SASs 89 and 90.
(3) The Audit Committee has received the written disclosures and the
letter from the Company's independent registered public accounting
firm required by PCAOB (Public Company Accounting Oversight Board)
standards, and had discussed with the Company's independent registered
public accounting firm the independent registered public accounting
firm's independence.
(4) Based on the review and discussions referred to above, the Audit
Committee recommended to the Board of Directors that the audited
financial statements be included in the Company's Annual Report on
Form 10-K/A for the year ended December 31, 2018 for filing with the
Securities and Exchange Commission.
(5) During the year ended December 31, 2018 the Company paid Meyers Norris
Penny LLP, the Company's former independent registered public
accounting firm, audit and audit related fees of $67,493 for
professional services rendered for the audit of the Company's annual
financial statements and the reviews of the financial statements
included in the Company's 10-Q reports for the fiscal year and all
regulatory filings.
(6) The Audit Committee is of the opinion that these fees are consistent
with maintaining its independence from the Company.
The foregoing report has been approved by the members of the Audit
Committee:
John Bientjes
Ben Seaman
David Fynn
The Company's Board of Directors has adopted a written charter for the
Audit Committee, a copy of which is available on the Company's website:
www.flexiblesolutions.com.
ADVISORY VOTE ON EXECUTIVE COMPENSATION
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, or
the Dodd-Frank Act, enables the Company's shareholders to vote to approve, on a
nonbinding advisory basis, the compensation of the Company's executive officers.
10
Accordingly, the Company will ask shareholders to vote for the following
resolution at the annual meeting:
"RESOLVED, that the Company's shareholders approve, on a
nonbinding advisory basis, the compensation of the Company's
executive officers, as disclosed in the Company's Proxy Statement
for the Annual Meeting of Shareholders to be held February 27,
2020 pursuant to the compensation disclosure rules of the
Securities and Exchange Commission, including the Executive
Compensation Table and the other related tables and narrative
disclosure in the Company's proxy statement."
To the extent there is any significant vote against the named executive
officer compensation as disclosed in this proxy statement, the Company's Board
of Directors and its Compensation Committee will consider shareholders' concerns
and the Compensation Committee will evaluate whether any actions are necessary
to address those concerns.
The Board of Directors recommends that the shareholders approve on a
nonbinding advisory basis the resolution approving the compensation of the
Company's executive officers set forth in this proxy statement.
The Company has elected to have the advisory vote on executive compensation
submitted to its shareholders at each annual meeting.
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Meyers, Norris, Penny served as the Company's independent registered public
accounting firm for the fiscal years ended December 31, 2018 and 2017.
The following table shows the aggregate fees billed to the Company during
the years ended December 31, 2018 and 2017 by Meyers Norris Penny LLP:
Year Ended December 31,
2018 2017
---- ----
Audit Fees $67,493 $72,375
Audit-Related Fees -- --
Tax Fees $ 9,090 $ 1,134
All Other Fees -- --
|
Audit fees represent amounts billed for professional services rendered for
the audit of the Company's annual financial statements and the reviews of the
financial statements included in the Company's 10-Q reports for the fiscal year
and all regulatory filings. Audit-related fees represent amounts billed for
reviewing amendments to the Company's 10-K and 10-Q reports. Before Meyers
Norris Penny was engaged by the Company to render audit or non-audit services,
the engagement was approved by the Company's audit committee. The Company's
Board of Directors is of the opinion that the audit fees charged by Meyers
Norris Penny are consistent with that firm maintaining its independence from the
Company.
11
On August 22, 2019 the Company dismissed MNP, LLP as its independent
registered public accounting firm.
On August 22, 2019 the Company engaged Morgan and Company as its
independent registered public accounting firm and the Board of Directors
selected Morgan and Company to audit the books and records of the Company for
the fiscal year ending December 31, 2019.
A representative of Morgan and Company is not expected to be present at the
shareholders' meeting.
AVAILABILITY OF ANNUAL REPORT ON FORM 10-K
The Company's Annual Report on Form 10-K/A for the year ending December 31,
2018 will be sent to any shareholder of the Company upon request. Requests for a
copy of this report should be addressed to the Company's Secretary at the
address provided on the first page of this proxy statement.
SHAREHOLDER PROPOSALS
Any shareholder proposal which may properly be included in the proxy
solicitation material for the annual meeting of shareholders following the
Company's year ending December 31, 2019 must be received by the Company's
Secretary no later than April 30, 2020.
GENERAL
The cost of preparing, printing and mailing the enclosed proxy,
accompanying notice and proxy statement, and all other costs in connection with
solicitation of proxies will be paid by the Company including any additional
solicitation made by letter, telephone or email. Failure of a quorum to be
present at the meeting will necessitate adjournment and will subject the Company
to additional expense. The Company's annual report, including financial
statements for the 2018 fiscal year, is available at the Company's website:
www.flexiblesolutions.com.
The Company's Board of Directors does not intend to present and does not
have reason to believe that others will present any other items of business at
the annual meeting. However, if other matters are properly presented to the
meeting for a vote, the proxies will be voted upon such matters in accordance
with the judgment of the persons acting under the proxies.
Please complete, sign and return the attached proxy promptly.
12
PROXY CARD
FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
This Proxy is solicited by the Company's Board of Directors
The undersigned stockholder of Flexible Solutions International, Inc.
acknowledges receipt of the Notice of the Annual Meeting of Stockholders to be
held February 27, 2020, at 6:00 p.m. local time, at Unit 15 - 6782 Veyaness Rd.,
Saanichton, BC Canada V8M 2C2 and hereby appoints Daniel O'Brien with the power
of substitution, as Attorney and Proxy to vote all the shares of the undersigned
at said annual meeting of stockholders and at all adjournments thereof, hereby
ratifying and confirming all that said Attorney and Proxy may do or cause to be
done by virtue hereof. The above named Attorney and Proxy is instructed to vote
all of the undersigned's shares as follows:
PROXY CARD
(1) To elect the persons who shall constitute the Company's Board of
Directors for the ensuing year.
[ ] FOR all nominees listed below (except as marked to the contrary below)
[ ] WITHHOLD AUTHORITY to vote for all nominees listed below
(INSTRUCTION: TO WITHHOLD AUTHORITY TO VOTE FOR ANY INDIVIDUAL NOMINEE, STRIKE A
LINE THROUGH THE NOMINEE'S NAME IN THE LIST BELOW)
Nominees: Daniel B. O'Brien John H. Bientjes Robert Helina
Thomas Fyles Ben Seaman David Fynn
(2) To approve on an advisory basis, the compensation of the Company's
executive officers.
[ ] FOR [ ] AGAINST [ ] ABSTAIN
(3) To ratify the appointment of Morgan and Company, LLP as the
Company's independent registered public accounting firm for the fiscal year
ending December 31, 2019.
[ ] FOR [ ] AGAINST [ ] ABSTAIN
To transact such other business as may properly come before the meeting.
THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED AS DIRECTED HEREIN BY THE
UNDERSIGNED STOCKHOLDER. IF NO DISCRETION IS INDICATED, THIS PROXY WILL BE VOTED
IN FAVOR OF ALL DIRECTORS AND ITEMS 2 AND 3.
Dated this ____ day of _______________, 2020.
(Signature)
(Signature)
Please sign your name exactly as it appears on your stock certificate. If
shares are held jointly, each holder should sign. Executors, trustees, and
other fiduciaries should so indicate when signing.
Please Sign, Date and Return this Proxy so that your shares
may be voted at the meeting.
Send the proxy statement by regular mail, email, or fax to:
Flexible Solutions International, Inc.
Attn: Daniel B. O'Brien
6001 54 Ave.
Taber, AB
Canada T1G 1X4
Phone: 403 223 2995
Fax: 403 223 2905
Email: damera@flexiblesolutions.com
13
FLEXIBLE SOLUTIONS INTERNATIONAL, INC.
NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS
Important Notice Regarding the Availability of Proxy Materials for the
Shareholder Meeting to Be Held on February 27, 2020.
1. This notice is not a form for voting.
2. This communication presents only an overview of the more complete
proxy materials that are available to you on the Internet. We
encourage you to access and review all of the important information
contained in the proxy materials before voting.
3. The Proxy Statement, Information Statement, Annual Report to
Shareholders is available at http://flexiblesolutions.com/investor/
AGM_2019.shtml
4. If you want to receive a paper or email copy of these documents, you
must request one. There is no charge to you for requesting a copy.
Please make your request for a copy as instructed below on or before
January 31, 2020 to facilitate timely delivery.
The 2019 annual meeting of the Company's shareholders will be held Unit 15
6782 Veyaness Rd., Saanichton, BC Canada V8M 2C2 on February 27, 2020, at 6:00
p.m. Pacific Time, for the following purposes:
(1) to elect the directors who shall constitute the Company's Board of
Directors for the ensuing year;
(2) to approve on an advisory basis, the compensation of the Company's
executive officers;
(3) to ratify the appointment of Morgan and Company, LLP as the Company's
independent registered public accounting firm for the fiscal year
ending December 31, 2019; and
to transact such other business as may properly come before the meeting.
The Board of Directors recommends that shareholders vote FOR all directors
and proposals 2 and 3.
January 16, 2020 is the record date for the determination of shareholders
entitled to notice of and to vote at such meeting. Shareholders may cast one
vote for each share held.
Shareholders may access the following documents at or http://flexible
solutions.com/investor/AGM_2019.shtml:
o Notice of the 2019 Annual Meeting of Shareholders
o Company's 2019 Proxy Statement;
o Company's Annual Report on form 10-K/A for the year ended December 31,
2018
o Proxy Card
14
Shareholders may request a paper copy of the Proxy Materials and Proxy Card
by calling 1-800-661-3560, by emailing the Company at http://flexible
solutions.com/investor/AGM_2019.shtml, or by visiting http://flexiblesolutions.
com/investor/AGM_2019.shtml and indicating if you want a paper copy of the
proxy materials and proxy card:
o for this meeting only, or
o for this meeting and all other meetings.
If you have a stock certificate registered in your name, or if you have a
proxy from a shareholder of record on January 16, 2020, you can, if desired,
attend the Annual Meeting and vote in person. Shareholders can obtain directions
to the 2019 annual shareholders' meeting at http://flexiblesolutions.com/
investor/AGM_2019.shtml.
Please visit www.flexiblesolutions.com to print and fill out the Proxy
Card. Complete and sign the proxy card and mail the Proxy Card to:
Flexible Solutions International, Inc.
6001 54 Ave.
Taber, AB
Canada T1G 1X4
15
Flexible Solutions (AMEX:FSI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Flexible Solutions (AMEX:FSI)
Historical Stock Chart
From Apr 2023 to Apr 2024
