FLEXIBLE SOLUTIONS INTERNATIONAL INC Debt Disclosure
11. LONG TERM DEBT
Debt, all of which is with StockYards Bank and Trust, at December 31, 2025 and 2024 consisted of the following:
| December 31, 2025 | December 31, 2024 | |||||||
| ENP Mendota, 10-year mortgage, 7.18% interest, monthly payments through to January 2030, collateralized by real property and all rents on said property | $ | 351,377 | $ | 387,577 | ||||
| ENP Peru, 10-year mortgage, 7.18% interest, monthly principal and interest payments through January 2030, collateralized by real property (1st mortgage) | 2,595,681 | 2,658,381 | ||||||
| ENP Peru, 10-year mortgage, 5.4% interest, monthly principal payments plus interest through June 2032, collateralized by real property (2nd mortgage) | 237,317 | 243,957 | ||||||
| Nanochem, 5-year note payable, 7.0% interest, monthly principal payments plus interest through August 2029, collateralized by manufacturing equipment | 1,257,285 | 1,545,945 | ||||||
| NanoChem, 3-year note payable, 4.90% interest, monthly principal and interest payments through June 2025, collateralized by real property | 345,036 | |||||||
| NanoChem, 3-year note payable, 6.5% interest, interest only payments through to July 2024, then monthly principal and interest payments through December 2025, collateralized by manufacturing equipment | 1,355,285 | |||||||
| 317 Mendota, 5-year note payable, 6.79% interest, interest only payments through June 2024, then monthly principal and interest payments through June 2028 with lump sum payment of $2,024,710 due in June 2028, collateralized by real property | 2,223,667 | |||||||
| Long-term debt | 4,441,660 | 8,759,848 | ||||||
| Less: current portion | (396,961 | ) | (2,140,981 | ) | ||||
| $ | 4,044,699 | $ | 6,618,867 | |||||
The following table summarizes the scheduled annual future principal payments as of December 31, 2025
| Year Ended December 31, | Principal Amount Due | |||
| 2026 | $ | 396,961 | ||
| 2027 | 425,238 | |||
| 2028 | 455,491 | |||
| 2029 | 567,259 | |||
| 2030 | 2,305,734 | |||
| Thereafter | 290,977 | |||
| Total | $ | 4,441,660 | ||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 15, 2026 | Showing above |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 29, 2022 | |
| 2020 | Mar 31, 2021 | |
| 2019 | Mar 30, 2020 | |
| 2017 | Apr 2, 2018 | |
| 2016 | Mar 31, 2017 | |
| 2015 | Mar 29, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.