UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry Into a Material Definitive Agreement |
The Company announced that, on January 7, 2025, it contracted with a U.S. based company to manufacture food grade products for the U.S. based company on a non-exclusive basis. The contract has a term of five years and will automatically renew for up to five additional successive five year terms unless the Company or the U.S. based company provides written notice of a non-renewal at least 180 days prior to the end of the then-current term. The Company estimates that the contract can possibly generate revenue per year between $15 million and $30 million or more. Revenue is expected to begin in approximately six months after allowing for the Company to expand its clean room space and install equipment necessary to manufacture the product for the U.S. based company.
| Item 9.01 | Financial Statements and Exhibits, |
| Exhibit No. | Description | |
| 10.3 | Manufacturing Services and Supply Agreement.(1) | |
| 104 | Cover page interactive data file (embedded within the Inline XBRL document) |
| (1) | Portions of this Exhibit have been omitted pursuant to Item 601(b)(10) of Regulation S-K since the omitted portions are not material and would likely cause competitive harm to the Company if publicly disclosed. |
| 2 |
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: January 23, 2025
| FLEXIBLE SOLUTIONS INTERNATIONAL INC. | ||
| By: | /s/ Daniel B. O’Brien | |
| Daniel B. O’Brien, President and Chief Executive Officer | ||
| 3 |