# UNITED
STATESSECURITIES AND EXCHANGE COMMISSION  Washington, D.C. 20549

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# FORM 10-KSB/A
(Amendment No. 3)

(Mark one)

||X| | Annual
Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934
|--- | ------------------------------------------------------------------------------

| | For
The Fiscal Year Ended December 31, 2004.
| | --------------------------------------------

||_| | Transition
Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934
|--- | ----------------------------------------------------------------------------------

| | For
the transition period from __________________ to __________________.
| | ------------------------------------------------------------------------

Commission File Number
000-29649

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|FLEXIBLE SOLUTIONS INTERNATIONAL, INC.        
|----------------------------------------------
|(Name of Small Business Issuer in Its Charter)

|Nevada                                   | 91-1922863                       
|---------------------------------------- | ---------------------------------
|(State of Incorporation)                 | (IRS Employer Identification No.)
|615 Discovery Street                    
|Victoria, British Columbia, CANADA       | V8T 5G4                          
|(Address of Principal Executive Offices) | (Zip Code)                       

(250) 477-9969
   (Issuers Telephone Number)

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None  (Securities
registered under Section 12(b) of the Exchange Act)

Common Stock, $0.001
par value (Securities registered under Section 12(g) of the Exchange Act)

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Check
whether the issuer is not required to file reports pursuant to Section 13 or 15(d) of the
Exchange Act. |_|

Check
whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of
the Exchange Act during the past 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. Yes |X| No |_|

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Check
if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B
contained in this form, and no disclosure will be contained, to the best of
registrants knowledge, in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB. |X|

Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the
Exchange Act). Yes |_| No |X|

State
issuers revenues for its most recent fiscal year:  $3,392,937.

State
the aggregate market value of the voting and non-voting common equity held by
non-affiliates computed by reference to the price at which the common equity was sold, or
the average bid and asked price of such common equity, as of a specified date within the
past 60 days: As of March 19, 2005, the aggregate market value of the Companys
common stock held by non-affiliates was approximately $48,155,898 based on the closing
price for shares of the registrants common stock on the American Stock Exchange for
that date.

State
the number of shares outstanding of each of the issuers class of common equity, as
of the latest practicable date: As of March 11, 2005, there were 11,831,916 shares of the
Companys common stock outstanding.

# DOCUMENTS INCORPORATED
BY REFERENCE

No
documents are incorporated by reference.

Transitional
Small Business Disclosure Format (check one):    Yes |_|   No |X|

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# FLEXIBLE SOLUTIONS
INTERNATIONAL, INC.INDEX TO ANNUAL REPORT ON FORM 10-KSB/A  For the fiscal year ended
December 31, 2004

|                                                     |                       | Page
|---------------------------------------------------- | --------------------- | ----
|                                                     |                       |     
|Explanatory Note                                     | ii                   
|Cautionary Note Regarding Forward-Looking Statements | iii                  
|                                                     | PART II              
|Item 7.                                              | Financial Statements. | 1   
|                                                     | PART III             
|Item 13.                                             | Exhibits.             | 2   
|Signatures                                           |                       | 3   

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# EXPLANATORY NOTE

Flexible
Solutions International, Inc. (we, us, and our) is
filing this Amendment No. 3 to its Annual Report on Form 10-KSB/A (this Third
Amendment) to amend its Annual Report on Form 10-KSB for the fiscal year ended
December 31, 2004, which was originally filed with the Securities and Exchange Commission
(SEC) on March 24, 2005 (the Original Filing), subsequently
amended and restated in its entirety and filed with the SEC on December 5, 2005 (the
First Amendment), and thereafter amended in certain sections and filed with
the SEC on March 9, 2006 (the Second Amendment).

This
Third Amendment is being filed by us in response to a comment from the SEC relating to the
disclosure that appears in Item 7. Financial StatementsReport of
Independent Registered Public Accounting Firm of Part II of our Second
Amendment. More specifically, this Third Amendment corrects a typographical error found in
the audit report of our independent registered public accounting firmCinnamon Jang
Willoughby & Company (CJW)which audit report included in the Second
Amendment contained two different issuance dates relating to our financial statements for
the year ended December 31, 2004. The audit report filed with the Second Amendment should
only have been dated as of February 11, 2005. This Third Amendment serves to correct the
typographical error.

Except
for the amended disclosure identified above and as set forth herein, this Third Amendment
does not reflect events occurring after the filing of the Original Filing, nor modify any
of the disclosures contained in the First Amendment or the Second Amendment, or in the
accompanying financial statements and notes thereto.

This
Third Amendment should be read in conjunction with our periodic filings made with the SEC
subsequent to the date of the Original Filing, including any amendments to those filings.
In addition, in accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as
amended, and certain other rules, this Third Amendment includes updated certifications
from our Chief Executive Officer and Chief Financial Officer.

ii

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# CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS

This
Amendment No. 3 to the Annual Report on Form 10-KSB/A for the year ended December 31, 2004
(Annual Report), contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements include,
without limitation, those statements relating to development of new products, our
financial condition, our ability to increase distribution of our products, integration of
businesses we acquire and disposition of any of our current business. Forward-looking
statements can be identified by the use of forward-looking terminology, such as
may, will, should, expect,
anticipate, estimate, continue, plans,
intends, or other similar terminology. These forward-looking statements are
not guarantees of future performance and involve risks, uncertainties and assumptions that
are difficult to predict. Therefore, actual outcomes and results may differ materially
from what is anticipated or forecasted in these forward-looking statements due to numerous
factors, including, but not limited to, our ability to generate or obtain sufficient
working capital to continue our operations, changes in demand for our products, the timing
of customer orders and deliveries and the impact of competitive products and pricing. In
addition, such statements could be affected by general industry and market conditions and
growth rates, and general domestic and international economic conditions.

Although
we believe that the expectations reflected in these forward-looking statements are
reasonable and achievable, such statements involve risks and uncertainties and no
assurance can be given that our actual results will be consistent with these
forward-looking statements. Except as otherwise required by applicable securities laws, we
undertake no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, changed circumstances or any other
reason, after the date of this Annual Report.

iii

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# PART II

# Item 7.      Financial
Statements.

# Report of Independent
Registered Public Accounting Firm

To the board of directors and
stockholders of FLEXIBLE SOLUTIONS INTERNATIONAL, INC.:

We
have audited the consolidated balance sheet of Flexible Solutions International, Inc. as
at December 31, 2004 and 2003 and the consolidated statements of operations,
stockholders equity and cash flows for the years then ended. The consolidated
financial statements are the responsibility of the companys management. Our
responsibility is to express an opinion on these consolidated financial statements.

We
conducted our audit in accordance with the standards of the Public Company Accounting
Oversight Board in the United States of America. Those standards require that we plan and
perform an audit to obtain reasonable assurance whether the consolidated financial
statements are free of material misstatement. An audit includes examining, on a test
basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement presentation.

In
our opinion the consolidated financial statements present fairly, in all material
respects, the financial position of the company as at December 31, 2004 and 2003 and the
results of its operations and its cash flows for each of the two years in the period ended
December 31, 2004 in conformity with generally accepted accounting principles in the
United States of America.

As
described in note 3 to the consolidated financial statements, the accompanying
consolidated financial statements of Flexible Solutions International, Inc. as of December
31, 2004 and 2003 and for the years then ended have been restated.

On
February 11, 2005 (September 30, 2005 as to the effects of the restatements described in
note 3), we reported separately to the shareholders of Flexible Solutions International,
Inc. on consolidated financial statements for the same period, audited in accordance with
auditing standards generally accepted in the United States of America and prepared in
accordance with accounting principles generally accepted in the United States of America.

Cinnamon Jang Willoughby
& Company,  Chartered Accountants

Burnaby, British Columbia February
11, 2005 (September 30, 2005 as to the effects of the restatements described in note 3)

1

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# PART III

# Item 13.      Exhibits.

|Number | Description                                                                                                              
|------ | -------------------------------------------------------------------------------------------------------------------------
|3.1    | Articles of Incorporation of the Registrant. (1)                                                                         
|3.2    | Bylaws of the Registrant. (1)                                                                                            
|21.1   | Subsidiaries. (2)                                                                                                        
|31.1   | Certification of Principal Executive Officer Pursuant toss.302 of the Sarbanes-Oxley Act of 2002. **                     
|31.2   | Certification of Principal Financial Officer Pursuant toss.302 of the Sarbanes-Oxley Act of 2002. **                     
|32.1   | Certification of Principal Executive Officer Pursuant to 18 U.S.C.ss.1350 andss.906 of the Sarbanes-Oxley Act of 2002. **
|32.2   | Certification of Principal Financial Officer Pursuant to 18 U.S.C.ss.1350 andss.906 of the Sarbanes-Oxley Act of 2002. **

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** Filed herewith.

|(1) | Previously
filed as an exhibit to our Registration Statement on Form 10-SB filed                with
the SEC on February 22, 2000, and incorporated herein by reference.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Previously
filed as an exhibit to our Registration Statement on Form SB-2 filed                with
the SEC on January 22, 2003, and incorporated herein by reference.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------

2

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# SIGNATURES

In
accordance with the requirements of Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.

Dated: May 23, 2006.

| | FLEXIBLE SOLUTIONS INTERNATIONAL, INC.       
| | ---------------------------------------------
| | By:  /s/ Daniel B. O'Brien                   
| | Name:  Daniel B. O'Brien                     
| | Title:  President and Chief Executive Officer

In
accordance with the Exchange Act, this report has been signed below by the following
persons on behalf of the registrant and in the capacities and on the dates indicated:

|Signature             | Title                              | Date        
|--------------------- | ---------------------------------- | ------------
|/s/ Daniel B. OBrien | President and Chief Executive      | May 23, 2006
|Daniel B. OBrien     | Officer (principal executive      
|                      | officer), Chief Financial Officer 
|                      | (principal accounting officer) and
|                      | Director                          
|/s/ John H. Bientjes  | Director                           | May 23, 2006
|John H. Bientjes     
|/s/ Robert N. OBrien | Director                           | May 23, 2006
|Robert N. OBrien    
|/s/ Dale Friend       | Director                           | May 23, 2006
|Dale Friend          
|/s/ Eric G. Hodges    | Director                           | May 23, 2006
|Eric G. Hodges       

3