FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX: FSI, FRANKFURT: FXT),
the developer and manufacturer of biodegradable and environmentally safe water and energy conservation technologies, as well as oil field anti-scalant, detergent, water and agricultural technology. Today the Company announces,
A recent news item filed by Anthony Price, Managing Director of Noranth Venture Pte Ltd’s division WaterSavr Singapore Pte Ltd (“WSP”) neglects to include important information about legal claims made by WSP against Flexible Solutions. WSP sold Flexible Solutions’ proprietary product WATERSAVR™ pursuant to a distribution agreement. Over the course of three years, WSP’s sales of WATERSAVR™ totaled less than US$100,000. On March 31, 2011, the distribution agreement was terminated for cause. Flexible Solutions and WSP agreed to submit all disputes to arbitration before the American Arbitration Association in New York, New York, USA. Flexible Solutions denies the allegations made by Singapore both in the arbitration and those made through the internet.
Flexible Solutions wishes to clarify certain items:
- Product described by WSP is not Flexible Solutions’ WATERSAVR™.
- Flexible Solutions did not manufacture, oversee the manufacture or sell the product described by WSP.
- Flexible Solutions is unaware that any product sold by WSP has been tested or approved by those authorities who approved Flexible Solutions’ WATERSAVR™.
- WSP is not authorized to use Flexible Solutions trade names or trademarks in promoting or advertising products it sells.
Flexible Solutions is now selling WatersavrTM directly in Singapore and South Asia. Customers are encouraged to contact us at our Victoria, BC, Canada Office.
About Flexible Solutions International
Flexible Solutions International, Inc. (
), based in Victoria, British Columbia, is an environmental technology company specializing in energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr, the world’s first commercially viable water evaporation retardant. WaterSavr reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and, further results in reduced indoor humidity. The Company’s Ecosavr product targets the residential swimming pool market. The Company’s Nanochem Solutions, Inc., subsidiary specializes in environmentally friendly, green chemistry, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic acid.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.