SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
FLEXIBLE SOLUTIONS INTERNATIONAL INCORPORATED
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
33938T1043
(CUSIP Number)
12/01/2006
(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. 33938T1043 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 Asset Management SA("PAM SA")
The reporting person disclaim beneficial ownership of the shares
reported, which are owned of record and beneficially by three non-U.S.
investment funds, both managed by PAM SA.
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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 Asset Management SA - Switzerland
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5 Sole Voting Power:
Pictet Asset Management SA:
1,236,400
Number of ------------------------------------------------------------
Shares 6 Shared Voting Power:
Beneficially Pictet Asset Management SA: None
Owned by ------------------------------------------------------------
Each 7 Sole Dispositive Power:
Reporting Pictet Asset Management SA:
Person With 1,236,400
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8 Shared Dispositive Power:
Pictet Asset Management SA: None
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
Pictet Asset Management SA: 1,236,400
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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 Asset Management SA: 9.51%
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12 Type of Reporting Person:
Pictet Asset Management SA: IA
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Item 1.
(a) Name of Issuer: FLEXIBLE SOLUTIONS INTERNATIONAL INCORPORATED
(b) Address of Issuer's Principal Executive Offices:
2614, QUEENSWOOD DRIVE
VICTORIA, BC,
V8N 1X5
CANADA
Item 2.
(a) Names of Person Filing:
Pictet Asset Management SA("PAM SA")
(b) Address of Principal Business Office or, if none, Residence:
Pictet Asset Management SA:
60 ROUTE DES ACACIAS
GENEVA 73
SWITZERLAND
CH-12 11
(c) Citizenship:
Pictet Asset Management SA: United Kingdom
(d) Title of Class Securities: COMMON STOCK
(e) CUSIP Number: 33938T1043
Item 3. If this statement is filed pursuant to Rule 13d-1 (b), or 13d-2 (b) or
(c), check whether the person is A
Not applicable.
Item 4. Ownership
The reporting persons disclaim beneficial ownership of the shares reported,
which are owned of record and beneficially by three non-U.S. investment funds,
both are managed by PAM SA.
(a) Amount Beneficially Owned:
Pictet Asset Management SA: 1,236,400
(b) Percent of Class:
Pictet Asset Management SA: 9.51%
(c) Number of shares as to which such person has:
Pictet Asset Management SA:
(i) sole power to vote or to direct the vote: 1,236,400
(ii) shared power to vote or to direct the vote: None
(iii) sole power to dispose or to direct the disposition of: 1,236,400
(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. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
See answer to Item 2 (a)
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 inquiry 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: 4TH DECEMBER 2006
/s/ David Cawthrow
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David Cawthrow
Chief Compliance Officer
AGREEMENT OF REPORTING PERSONS
The undersigned herby agree that the foregoing Schedule 13G is filed on
behalf of the undersigned.
Pictet Asset Management SA
By: /s/ David Cawthrow
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David Cawthrow,
Chief Compliance Officer