SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
FLEXIBLE SOLUTIONS INTL INC
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
33938T104
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(CUSIP Number)
June 4th, 2004
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(Date of Event Which Requires Filing of this Statement)
Check appropriate box to designate the rule pursuant to which this
Schedule is filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
CUSIP No. 33938T104 13G Page 1 of 1 Pages
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
(Entities Only)
Pictet (London) Limited
Pictet Asset Management UK Limited ("PAM")
Pictet International Management Limited ("PIM")
Pictet (London) Limited is the parent corporation of each of PAM and
PIM
The reporting persons disclaim beneficial ownership of the shares
reported, which are owned of record and beneficially by two non-U.S.
investment funds, one of which is managed by PAM and the other by PIM.
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2 Check the Appropriate Box if a Member of a Group (a) / /
(b) / /
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3 SEC Use Only
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4 Citizenship or Place of Organization
Pictet (London) Limited - United Kingdom
Pictet Asset Management (UK) Limited - United Kingdom
Pictet International Management Limited - United Kingdom
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5 Sole Voting Power:
Number of Pictet (London) Limited: 1,149,000 (indirect
through PAM and PIM)
Shares PAM: 560,400
PIM: 588,600
Beneficially --------------------------------------------------------------
6 Shared Voting Power:
Owned by Pictet (London) Limited: None
PAM: None
Each PIM: None
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Reporting 7 Sole Dispositive Power:
Pictet (London) Limited: 1,149,000 (indirect
Person With through PAM and PIM)
PAM: 560,400
PIM: 588,600
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8 Shared Dispositive Power:
Pictet (London) Limited: None
PAM: None
PIM: None
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
Pictet (London) Limited: 1,149,000 (indirect through PAM and PIM)
PAM: 560,400
PIM: 588,600
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares / /
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11 Percent of Class Represented by Amount in Row (9)
Pictet (London) Limited: 9.7% (indirect through PAM and PIM)
PAM: 4.7%
PIM: 5.0%
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12 Type of Reporting Person:
Pictet (London) Limited: HC
PAM: IA
PIM: IA
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Item 1.
(a) Name of Issuer: FLEXIBLE SOLUTIONS INTL INC.
(b) Address of Issuer's Principal Executive Offices:
2614 QUEENSWOOD DRIVE
VICTORIA, BC
V8N 1X5
CANADA
Item 2.
(a) Names of Persons Filing:
Pictet (London) Limited, holding company for:
Pictet Asset Management UK Limited ("PAM")
Pictet International Management Limited ("PIM")
Pictet (London) Limited is the parent corporation of each of
PAM and PIM
(b) Address of Principal Business Office or, if none, Residence:
Pictet (London) Limited: Tower 42 Level 37
25 Old Broad Street
London EC2N 1HQ
UNITED KINGDOM
PAM: Same
PIM: Same
(c) Citizenship:
Pictet (London) Limited: United Kingdom
PAM: Same
PIM: Same
(d) Title of Class Securities: Common Stock
(e) CUSIP Number: 33938T1043
Item 3.
Not applicable.
Item 4. Ownership
The reporting persons disclaim beneficial ownership of the shares
reported, which are owned of record and beneficially by two non-U.S. investment
funds, one of which is managed by PAM and the other by PIM.
(a) Amount Beneficially Owned:
Pictet (London) Limited: 1,149,000 (indirect through PAM and
PIM)
PAM: 560,400
PIM: 588,600
(b) Percent of Class:
Pictet (London) Limited: 9.7% (indirect through PAM and PIM)
PAM: 4.7%
PIM: 5.0%
(c) Number of shares as to which such person has:
Pictet (London) Limited (indirectly through PAM and PIM):
(i) sole power to vote or to direct the vote: 1,149,000
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of:
1,149,000
(iv) shared power to dispose or to direct the disposition of: None
PAM:
(i) sole power to vote or to direct the vote: 560,400
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of: 560,400
(iv) shared power to dispose or to direct the disposition of: None
PIM:
(i) sole power to vote or to direct the vote: 588,600
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of: 588,600
(iv) shared power to dispose or to direct the disposition of: None
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not Applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of the Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and are not
held in connection with or as a participant in any transaction having that
purpose or effect.
SIGNATURE
After reasonable inquire and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: June 11, 2004
Paul Martin
Chief Compliance Officer
AGREEMENT OF REPORTING PERSONS
The undersigned herby agree that the foregoing Schedule 13G is filed on
behalf of each of the undersigned.
Pictet (London) Limited
By:
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Paul Martin, Chief Compliance Officer
Pictet Asset Management UK Limited Pictet International Management Limited
By: By:
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Paul Martin, Chief Compliance Paul Martin, Chief Compliance Officer
Officer