Flexible Solutions International, Inc. (AMEX:FSI) Q3 2023 Earnings Call Transcript

Unidentified Analyst: Got it. Thank you for your answer. My last question, earlier in the year, you — the company issued dividends based on unexpected profitability, I believe, Q1. Going forward, are there plans for maybe share buybacks, additional dividends or reinvestment into research and development, if we do achieve record profits that are unforeseen.

Dan O’Brien: Returning capital to shareholders is a big goal of ours. Whether it’s through share buybacks, special dividends, as you noted, we’ll try and do it. Obviously, a bad quarter to ask me, when. We’ve got to reuse my quote from the previous customer, we need to right the ship. R&D, now that is an interesting question. We don’t show it broken out as R&D in all cases. But the sales and consulting people I spoke about, our Senior Operating Officer, even myself, we’re engaged consistently in R&D as part of our regular jobs. So there’s an enormous amount going on. It’s unlikely to result in patent because trade secret is far more valuable, especially as we learn more about this food and nutrition world, it’s all about what you can do, not about talking about what you can do.

And so we’re developing new skills, new technology. You’re just not going to see it in the financials broken out as R&D, and you’re certainly not going to get the details from us because we’re going to keep it as trade secret.

Unidentified Analyst: Alright. Much appreciated. I will yield back.

Operator: It appears we have no further questions at this time. I will now turn the program back over to our presenter for any additional remarks.

Dan O’Brien: Thank you, Angela. Thanks, everybody, for joining us. We’ll be back in several months with our full year numbers. And maybe this would be a great time to wish you all a great Thanksgiving, and talk to you soon. Bye.

Operator: This does conclude today’s program. Thank you for your participation. You may disconnect at any time.