2017 Q2 Form 10-Q Financial Statement

#000165495417007535 Filed on August 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $4.722M $3.733M
YoY Change 26.5% -4.3%
Cost Of Revenue $2.841M $1.750M
YoY Change 62.34% -23.04%
Gross Profit $1.881M $1.983M
YoY Change -5.13% 21.9%
Gross Profit Margin 39.84% 53.12%
Selling, General & Admin $1.080M $1.020M
YoY Change 5.88% 3.03%
% of Gross Profit 57.41% 51.43%
Research & Development $20.39K $28.28K
YoY Change -27.88% 79.99%
% of Gross Profit 1.08% 1.43%
Depreciation & Amortization $60.00K $140.0K
YoY Change -57.14% 7.69%
% of Gross Profit 3.19% 7.06%
Operating Expenses $1.146M $1.054M
YoY Change 8.75% 3.12%
Operating Profit $735.5K $929.5K
YoY Change -20.87% 53.6%
Interest Expense $12.73K $11.61K
YoY Change 9.6% -21.69%
% of Operating Profit 1.73% 1.25%
Other Income/Expense, Net $0.00
YoY Change
Pretax Income $409.0K $931.4K
YoY Change -56.09% 58.73%
Income Tax $135.4K $370.2K
% Of Pretax Income 33.1% 39.74%
Net Earnings $273.6K $561.2K
YoY Change -51.25% 76.12%
Net Earnings / Revenue 5.79% 15.03%
Basic Earnings Per Share
Diluted Earnings Per Share $22.98K $48.36K
COMMON SHARES
Basic Shares Outstanding 11.47M shares 11.43M shares
Diluted Shares Outstanding 11.75M shares 11.58M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.260M $2.580M
YoY Change 142.64% 128.32%
Cash & Equivalents $6.256M $2.581M
Short-Term Investments
Other Short-Term Assets $150.0K $330.0K
YoY Change -54.55% 10.0%
Inventory $3.819M $3.221M
Prepaid Expenses $155.0K $325.3K
Receivables $3.825M $2.006M
Other Receivables $0.00 $500.0K
Total Short-Term Assets $14.05M $8.633M
YoY Change 62.81% 18.99%
LONG-TERM ASSETS
Property, Plant & Equipment $1.696M $3.756M
YoY Change -54.86% -10.84%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $140.0K $10.00K
YoY Change 1300.0% 0.0%
Other Assets $2.530M $1.890M
YoY Change 33.86% -24.1%
Total Long-Term Assets $4.453M $5.759M
YoY Change -22.67% -15.62%
TOTAL ASSETS
Total Short-Term Assets $14.05M $8.633M
Total Long-Term Assets $4.453M $5.759M
Total Assets $18.51M $14.39M
YoY Change 28.61% 2.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $660.0K $580.0K
YoY Change 13.79% 100.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $600.0K $750.0K
YoY Change -20.0% 87.5%
Long-Term Debt Due $201.2K $201.2K
YoY Change 0.0% -42.02%
Total Short-Term Liabilities $1.962M $2.225M
YoY Change -11.81% 37.13%
LONG-TERM LIABILITIES
Long-Term Debt $251.5K $450.0K
YoY Change -44.11% -30.77%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $251.5K $450.0K
YoY Change -44.11% -30.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.962M $2.225M
Total Long-Term Liabilities $251.5K $450.0K
Total Liabilities $2.213M $2.667M
YoY Change -17.02% 17.18%
SHAREHOLDERS EQUITY
Retained Earnings $2.223M -$1.793M
YoY Change -223.96% -52.53%
Common Stock $14.93M $14.78M
YoY Change 1.04% -9.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.29M $11.71M
YoY Change
Total Liabilities & Shareholders Equity $18.51M $14.39M
YoY Change 28.61% 2.22%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $273.6K $561.2K
YoY Change -51.25% 76.12%
Depreciation, Depletion And Amortization $60.00K $140.0K
YoY Change -57.14% 7.69%
Cash From Operating Activities $1.480M $1.060M
YoY Change 39.62% 41.33%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $10.00K
YoY Change -400.0%
Acquisitions
YoY Change
Other Investing Activities -$320.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$350.0K $10.00K
YoY Change -3600.0% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -120.0K 250.0K
YoY Change -148.0% -159.52%
NET CHANGE
Cash From Operating Activities 1.480M 1.060M
Cash From Investing Activities -350.0K 10.00K
Cash From Financing Activities -120.0K 250.0K
Net Change In Cash 1.010M 1.320M
YoY Change -23.48% 277.14%
FREE CASH FLOW
Cash From Operating Activities $1.480M $1.060M
Capital Expenditures -$30.00K $10.00K
Free Cash Flow $1.510M $1.050M
YoY Change 43.81%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
FLEXIBLE SOLUTIONS INTERNATIONAL INC
dei Entity Central Index Key
EntityCentralIndexKey
0001069394
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2017-06-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2017Q2 us-gaap Assets
Assets
18508335 usd
CY2016Q4 us-gaap Assets
Assets
15158487 usd
CY2017Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
2533573 usd
CY2016Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
2026999 usd
CY2017Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
26469 usd
CY2016Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
26163 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87671 usd
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
95890 usd
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1695652 usd
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3393944 usd
CY2017Q2 us-gaap Assets Current
AssetsCurrent
14054990 usd
CY2016Q4 us-gaap Assets Current
AssetsCurrent
9493011 usd
CY2017Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
154990 usd
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
228699 usd
CY2017Q2 us-gaap Inventory Net
InventoryNet
3818601 usd
CY2016Q4 us-gaap Inventory Net
InventoryNet
3786093 usd
CY2017Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3824932 usd
CY2016Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3008153 usd
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6256467 usd
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2470066 usd
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2017Q2 us-gaap Liabilities
Liabilities
2213432 usd
CY2016Q4 us-gaap Line Of Credit
LineOfCredit
250000 usd
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
492348 usd
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
893867 usd
CY2017Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
5317 usd
CY2016Q4 us-gaap Liabilities
Liabilities
2694494 usd
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1961940 usd
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2342405 usd
CY2017Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
201193 usd
CY2016Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
201193 usd
CY2017Q2 us-gaap Line Of Credit
LineOfCredit
600000 usd
CY2016Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
95308 usd
CY2017Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
663082 usd
CY2016Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
902037 usd
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
18508335 usd
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
15158487 usd
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
16294903 usd
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
12463993 usd
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2223170 usd
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1303120 usd
CY2017Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
14921026 usd
CY2016Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
14842863 usd
CY2017Q2 us-gaap Common Stock Value
CommonStockValue
11486 usd
CY2016Q4 us-gaap Common Stock Value
CommonStockValue
11458 usd
CY2017Q2 us-gaap Long Term Investments
LongTermInvestments
109980 usd
CY2016Q4 us-gaap Long Term Investments
LongTermInvestments
122480 usd
CY2017Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
251492 usd
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
352089 usd
CY2017Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-860779 usd
CY2016Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1087208 usd
CY2017Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11485991 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11457991 shares
CY2017Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11485991 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11457991 shares
CY2017Q2 us-gaap Cash
Cash
6256467 usd
CY2016Q4 us-gaap Cash
Cash
2470066 usd
CY2016Q2 us-gaap Cash
Cash
2580646 usd
CY2015Q4 us-gaap Cash
Cash
2498738 usd
CY2017Q2 FSI Representation In Accounts Receivable By Primary Customers1
RepresentationInAccountsReceivableByPrimaryCustomers1
2669711 usd
CY2016Q4 FSI Representation In Accounts Receivable By Primary Customers1
RepresentationInAccountsReceivableByPrimaryCustomers1
2032646 usd
CY2017Q2 FSI Percentage Representation In Accounts Receivable By Primary Customers
PercentageRepresentationInAccountsReceivableByPrimaryCustomers
.70 pure
CY2016Q4 FSI Percentage Representation In Accounts Receivable By Primary Customers
PercentageRepresentationInAccountsReceivableByPrimaryCustomers
0.67 pure
CY2017Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
3863923 usd
CY2016Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
3044652 usd
CY2017Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
38991 usd
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
36499 usd
CY2017Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1648392 usd
CY2016Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1646465 usd
CY2017Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
0 usd
CY2016Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2572 usd
CY2017Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
2170209 usd
CY2016Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2137056 usd
CY2017Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4469408 usd
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7334768 usd
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6165060 usd
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10728712 usd
CY2017Q2 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
204288 usd
CY2016Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
197448 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
116616 usd
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
101558 usd
CY2017Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
600000 usd
CY2016Q4 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
250000 usd
CY2017Q2 FSI Long Term Debt1
LongTermDebt1
452685 usd
CY2016Q4 FSI Long Term Debt1
LongTermDebt1
553282 usd
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
698000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
813000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1190000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-28000 shares
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-30000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
87000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
515000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
168000 shares
CY2016 FSI Granted
Granted
1.42
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.10
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.19
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.34
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.16
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.97
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.61
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.42
CY2017Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
46116 usd
CY2017Q2 FSI Property Equipment Leasehold And Patents
PropertyEquipmentLeaseholdAndPatents
1783323 usd
CY2016Q4 FSI Property Equipment Leasehold And Patents
PropertyEquipmentLeaseholdAndPatents
3489834 usd
CY2017Q2 FSI Customers Accounts Receivable
CustomersAccountsReceivable
2669711 usd
CY2016Q4 FSI Customers Accounts Receivable
CustomersAccountsReceivable
2032646 usd
CY2017Q2 FSI Percentage Customers Accounts Receivable
PercentageCustomersAccountsReceivable
.70 pure
CY2016Q4 FSI Percentage Customers Accounts Receivable
PercentageCustomersAccountsReceivable
0.67 pure
us-gaap Proceeds From Loans
ProceedsFromLoans
0 usd
CY2016 us-gaap Proceeds From Loans
ProceedsFromLoans
0 usd
us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
100597 usd
CY2016 us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
201193 usd
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
452685 usd
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
553282 usd
CY2016Q4 FSI Equity Method Investment1
EquityMethodInvestment1
122480 usd
CY2015Q4 FSI Equity Method Investment1
EquityMethodInvestment1
0 usd
CY2016 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
150066 usd
FSI Equity Method Investment Return Of Equity
EquityMethodInvestmentReturnOfEquity
-12500 usd
CY2016 FSI Equity Method Investment Return Of Equity
EquityMethodInvestmentReturnOfEquity
-12500 usd
CY2016 us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
-15086 usd
CY2016Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1575000 usd
CY2016Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1750000 shares
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
754475 usd
CY2017Q2 FSI Equity Method Investment1
EquityMethodInvestment1
109980 usd
CY2017Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
11495991 shares
CY2017Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2016Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
us-gaap Operating Expenses
OperatingExpenses
2187909 usd
us-gaap Operating Expenses
OperatingExpenses
1992568 usd
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
1145847 usd
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
1053665 usd
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
11510 usd
us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
8900 usd
CY2017Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
4545 usd
CY2016Q2 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
5400 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-41744 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-10980 usd
CY2017Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-32740 usd
CY2016Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
7015 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
1191 usd
us-gaap Interest And Debt Expense
InterestAndDebtExpense
0 usd
CY2017Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
881 usd
CY2016Q2 us-gaap Interest And Debt Expense
InterestAndDebtExpense
0 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
54167 usd
us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
59727 usd
CY2017Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
13512 usd
CY2016Q2 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
4193 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
31538 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
64005 usd
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20394 usd
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28277 usd
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
8773 usd
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
9632 usd
CY2017Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
4911 usd
CY2016Q2 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
6238 usd
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
13386 usd
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
11925 usd
CY2017Q2 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
7090 usd
CY2016Q2 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
7334 usd
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
73162 usd
us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
84519 usd
CY2017Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
39263 usd
CY2016Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
46004 usd
us-gaap Professional Fees
ProfessionalFees
115925 usd
us-gaap Professional Fees
ProfessionalFees
68687 usd
CY2017Q2 us-gaap Professional Fees
ProfessionalFees
58373 usd
CY2016Q2 us-gaap Professional Fees
ProfessionalFees
48778 usd
FSI Consulting
Consulting
67946 usd
FSI Consulting
Consulting
60833 usd
CY2017Q2 FSI Consulting
Consulting
33650 usd
CY2016Q2 FSI Consulting
Consulting
30997 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
121008 usd
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
46201 usd
CY2017Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
65494 usd
CY2016Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
24218 usd
us-gaap Interest Expense
InterestExpense
24296 usd
us-gaap Interest Expense
InterestExpense
22558 usd
CY2017Q2 us-gaap Interest Expense
InterestExpense
12729 usd
CY2016Q2 us-gaap Interest Expense
InterestExpense
11614 usd
us-gaap General Insurance Expense
GeneralInsuranceExpense
137537 usd
us-gaap General Insurance Expense
GeneralInsuranceExpense
149173 usd
CY2017Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
55928 usd
CY2016Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
75525 usd
us-gaap Other General Expense
OtherGeneralExpense
105449 usd
us-gaap Other General Expense
OtherGeneralExpense
148429 usd
CY2017Q2 us-gaap Other General Expense
OtherGeneralExpense
70547 usd
CY2016Q2 us-gaap Other General Expense
OtherGeneralExpense
112700 usd
FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
74077 usd
FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
63738 usd
CY2017Q2 FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
36736 usd
CY2016Q2 FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
44281 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
13295 usd
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
11326 usd
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3718 usd
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2201 usd
us-gaap Officers Compensation
OfficersCompensation
496203 usd
us-gaap Officers Compensation
OfficersCompensation
423517 usd
CY2017Q2 us-gaap Officers Compensation
OfficersCompensation
247121 usd
CY2016Q2 us-gaap Officers Compensation
OfficersCompensation
218772 usd
us-gaap Salaries And Wages
SalariesAndWages
796702 usd
us-gaap Salaries And Wages
SalariesAndWages
748418 usd
CY2017Q2 us-gaap Salaries And Wages
SalariesAndWages
438285 usd
CY2016Q2 us-gaap Salaries And Wages
SalariesAndWages
394328 usd
us-gaap Gross Profit
GrossProfit
3975396 usd
us-gaap Gross Profit
GrossProfit
4221861 usd
CY2017Q2 us-gaap Gross Profit
GrossProfit
1881363 usd
CY2016Q2 us-gaap Gross Profit
GrossProfit
1983158 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5410678 usd
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
4823957 usd
CY2017Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2841003 usd
CY2016Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1750025 usd
us-gaap Sales Revenue Net
SalesRevenueNet
9386074 usd
us-gaap Sales Revenue Net
SalesRevenueNet
9045818 usd
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
4722366 usd
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
3733183 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11700631 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11558183 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11752945 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11577960 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11462167 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11485683 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11465606 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11427991 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3752719 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1237183 usd
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
460385 usd
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
572790 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
226429 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-65848 usd
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
186762 usd
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11553 usd
us-gaap Net Income Loss
NetIncomeLoss
3526290 usd
us-gaap Net Income Loss
NetIncomeLoss
1303031 usd
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
273623 usd
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
561237 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
432247 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
928176 usd
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
135372 usd
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
370170 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
23404 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2017Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2016Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3981941 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
2231207 usd
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
408995 usd
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
931407 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
82 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
0 usd
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
49 usd
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
0 usd
us-gaap Inventory Write Down
InventoryWriteDown
-51346 usd
us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2017Q2 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2016Q2 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
2245718 usd
us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
0 usd
CY2017Q2 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
-326570 usd
CY2016Q2 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
0 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1914 usd
CY2017Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
CY2016Q2 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1914 usd
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
1787487 usd
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
2229293 usd
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
735516 usd
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
929493 usd
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.05
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-407527 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1247509 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-185253 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-401519 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
367799 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-522328 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-263844 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-74283 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
80000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
194020 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-64148 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
663895 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
540159 usd
FSI Increase Decrease In Deferred Tax Assets
IncreaseDecreaseInDeferredTaxAssets
-23404 usd
FSI Increase Decrease In Deferred Tax Assets
IncreaseDecreaseInDeferredTaxAssets
-104379 usd
us-gaap Depreciation
Depreciation
135537 usd
us-gaap Depreciation
Depreciation
268695 usd
us-gaap Share Based Compensation
ShareBasedCompensation
45692 usd
us-gaap Share Based Compensation
ShareBasedCompensation
23460 usd
us-gaap Profit Loss
ProfitLoss
3526290 usd
us-gaap Profit Loss
ProfitLoss
1303031 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3683236 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-80100 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
56306 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
79750 usd
us-gaap Proceeds From Sale Of Insurance Investments
ProceedsFromSaleOfInsuranceInvestments
3727042 usd
us-gaap Proceeds From Sale Of Insurance Investments
ProceedsFromSaleOfInsuranceInvestments
0 usd
us-gaap Principal Investment Gains Losses
PrincipalInvestmentGainsLosses
12500 usd
us-gaap Principal Investment Gains Losses
PrincipalInvestmentGainsLosses
0 usd
FSI Proceeds From Disposal Of Long Term Deposits
ProceedsFromDisposalOfLongTermDeposits
0 usd
FSI Proceeds From Disposal Of Long Term Deposits
ProceedsFromDisposalOfLongTermDeposits
-350 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
281903 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1125597 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1575000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32500 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-100597 usd
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-100597 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
350000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
550000 usd
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
228789 usd
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
40096 usd
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
3786401 usd
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
81908 usd
us-gaap Interest Paid
InterestPaid
24296 usd
us-gaap Interest Paid
InterestPaid
22558 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
833766 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
452654 usd
us-gaap Reclassifications
Reclassifications
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Certain of the comparative figures have been reclassified to conform with the current year&#8217;s presentation.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and would impact the results of operations and cash flows.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Estimates and underlying assumptions are reviewed at each period end. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Significant areas requiring the use of management estimates include assumptions and estimates relating to the asset impairment analysis, share-based payments and warrants, valuation allowances for deferred income tax assets, determination of useful lives of property, plant and equipment, and the valuation of inventory.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s credit risk is primarily attributable to its accounts receivable. The amounts presented in the accompanying consolidated balance sheets are net of allowances for doubtful accounts, estimated by the Company&#8217;s management based on prior experience and the current economic environment. The Company is exposed to credit-related losses in the event of non-payment by customers. Credit exposure is minimized by dealing with only credit worthy counterparties. Accounts receivable for the Company&#8217;s three primary customers totaled $2,669,711 (70%) at June 30, 2017 (December 31, 2016 - $2,032,646 or 67%).&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The credit risk on cash and cash equivalents is limited because the Company limits its exposure to credit loss by placing its cash and cash equivalents with major financial institutions.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In order to manage its exposure to foreign exchange risks, the Company is closely monitoring the fluctuations in the foreign currency exchange rates and the impact on the value of cash and cash equivalents, accounts receivable, and accounts payable. The Company has not hedged its exposure to currency fluctuations.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
FSI New Accounting Pronouncements Not Yet Adopted
NewAccountingPronouncementsNotYetAdopted
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. The standard eliminates step two in the current two-step impairment test under ASC 350. Under the new standard, a goodwill impairment will be recorded for any excess of a reporting unit's carrying value over its fair value. A prospective transition approach is required. The standard is effective for annual and interim reporting periods beginning after December 15, 2019 with early adoption permitted for annual and interim goodwill impairment testing dates after January 1, 2017. We do not expect the standard to have a material impact on our consolidated financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In February 2016, the FASB issued ASU 2016-02, Leases. The standard will require lessees to recognize most leases on their balance sheet and makes selected changes to lessor accounting. The standard is effective for annual and interim reporting periods beginning after December 15, 2018. A modified retrospective transition approach is required, with certain practical expedients available. We are currently evaluating the impact the adoption of this standard will have on our consolidated financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which has been updated through several revisions and clarifications since its original issuance. The standard will require revenue recognized to represent the transfer of promised goods or services to customers at an amount that reflects the consideration which a company expects to receive in exchange for those goods or services. The standard also requires new, expanded disclosures regarding revenue recognition. The standard will be effective January 1, 2018 with early adoption permissible beginning January 1, 2017. We are currently evaluating the transition method we will elect and the effect on our consolidated financial statements.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
FSI Estimated Depreciation Expense
EstimatedDepreciationExpense
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 88%; text-align: justify"><font style="font-size: 8pt">2017</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">16,438</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2018</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">16,438</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2019</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">16,438</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2020</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">16,438</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt double; text-align: justify"><font style="font-size: 8pt">2021</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right"><font style="font-size: 8pt">16,438</font></td> <td>&#160;</td></tr> </table>
FSI Interest Loan Repayment Table Textblock
InterestLoanRepaymentTableTextblock
<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="width: 88%; text-align: justify"><font style="font-size: 8pt">2017</font></td> <td style="width: 1%">&#160;</td> <td style="width: 1%"><font style="font-size: 8pt">$</font></td> <td style="width: 9%; text-align: right"><font style="font-size: 8pt">100,597</font></td> <td style="width: 1%">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font-size: 8pt">2018</font></td> <td>&#160;</td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">201,193</font></td> <td>&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt double; text-align: justify"><font style="font-size: 8pt">2019</font></td> <td>&#160;</td> <td><font style="font-size: 8pt">$</font></td> <td style="text-align: right"><font style="font-size: 8pt">150,895</font></td> <td>&#160;</td></tr> </table>
FSI Depreciation Expense1
DepreciationExpense1
127318 usd
FSI Depreciation Expense1
DepreciationExpense1
261072 usd
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
4207578 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16438 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16438 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16438 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
16438 usd
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
16438 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8219 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7623 usd
CY2017Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
.42 pure
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
100597 usd
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
201193 usd
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
150895 usd
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
535000 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.00
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
.0137 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
.7564 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
.71
CY2017Q2 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
830235 usd
FSI Lease Expiry Date
LeaseExpiryDate
December 31, 2020
CY2017Q2 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
102315 usd
CY2017Q2 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
201840 usd
CY2017Q2 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
205580 usd
CY2017Q2 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
209400 usd
CY2017Q2 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
111100 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P6M
FSI Expenditures For Segment Assets
ExpendituresForSegmentAssets
-56306 usd
FSI Expenditures For Segment Assets
ExpendituresForSegmentAssets
-79750 usd
FSI Segment Reporting Information Net Assets1
SegmentReportingInformationNetAssets1
1783323 usd
FSI Segment Reporting Information Net Assets1
SegmentReportingInformationNetAssets1
3856328 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
135537 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
268695 usd
us-gaap Revenues
Revenues
9386074 usd
us-gaap Revenues
Revenues
9045818 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
5527771 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
5208367 usd
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
.59 pure
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
.58 pure
CY2016Q1 us-gaap Share Price
SharePrice
0.90

Files In Submission

Name View Source Status
0001654954-17-007535-index-headers.html Edgar Link pending
0001654954-17-007535-index.html Edgar Link pending
0001654954-17-007535.txt Edgar Link pending
0001654954-17-007535-xbrl.zip Edgar Link pending
exhibit311.htm Edgar Link pending
exhibit312.htm Edgar Link pending
exhibit321.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fsi-20170630.xsd Edgar Link pending
fsi_10q.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
fsi-20170630_cal.xml Edgar Link unprocessable
fsi-20170630_def.xml Edgar Link unprocessable
fsi-20170630_lab.xml Edgar Link unprocessable
fsi-20170630_pre.xml Edgar Link unprocessable
fsi-20170630.xml Edgar Link completed
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable