SC 13G 1 b50867pasc13g.txt PICTET ASSET MANAGEMENT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 FLEXIBLE SOLUTIONS INTL INC ------------------------- (Name of Issuer) COMMON STOCK -------------------------------- (Title of Class of Securities) 33938T104 ---------------- (CUSIP Number) June 4th, 2004 --------------------------------------------------------- (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 -------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (a) / / (b) / / -------------------------------------------------------------------------------- 3 SEC Use Only -------------------------------------------------------------------------------- 4 Citizenship or Place of Organization Pictet (London) Limited - United Kingdom Pictet Asset Management (UK) Limited - United Kingdom Pictet International Management Limited - United Kingdom -------------------------------------------------------------------------------- 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 -------------------------------------------------------------- Reporting 7 Sole Dispositive Power: Pictet (London) Limited: 1,149,000 (indirect Person With through PAM and PIM) PAM: 560,400 PIM: 588,600 -------------------------------------------------------------- 8 Shared Dispositive Power: Pictet (London) Limited: None PAM: None PIM: None -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares / / -------------------------------------------------------------------------------- 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% -------------------------------------------------------------------------------- 12 Type of Reporting Person: Pictet (London) Limited: HC PAM: IA PIM: IA -------------------------------------------------------------------------------- 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: ------------------------------------- Paul Martin, Chief Compliance Officer Pictet Asset Management UK Limited Pictet International Management Limited By: By: -------------------------------- ------------------------------------ Paul Martin, Chief Compliance Paul Martin, Chief Compliance Officer Officer