Liqtech International Inc (LIQT) 10-Q Quarterly Report May 2022

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2022	May 12, 2022
Document Information [Line Items]
Entity Central Index Key	0001307579
Entity Registrant Name	LIQTECH INTERNATIONAL INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36210
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-1431677
Entity Address, Address Line One	Industriparken 22C
Entity Address, Postal Zip Code	DK 2750
Entity Address, City or Town	Ballerup
Entity Address, Country	DK
City Area Code	45
Local Phone Number	3131 5941
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	LIQT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,352,688

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Inside Liqtech International Inc's 10-Q Quarterly Report:

Financial - Expense Highlight
This change was mainly related to the Convertible Note issued in April 2021, with $297,338 for the amortization discount and $187,500 for interest expenses, along with a reduction in the gain on currency transactions due to a less favorable DKK/USD exchange rate during the period Net loss for the three months ended March 31, 2022, was $(3,746,424) compared to $(2,459,429) for the comparable period in 2021, representing an increase in net loss of $1,286,995.

Financial - Earnings Highlight
The increase in gross profit compared to last year was caused by an improvement in sales mix and elevated profitability from sales of plastics components as well as spare-parts and commission activities, partly offset by the negative impact from rising input cost inflation associated with the production of our silicon carbide products, more specifically increased electricity and raw material prices, labor cost inflation, and general price increased on freight and logistic services.
Revenue - Product Highlight
Based on current projections, which are subject to uncertainties, including the duration and severity of these global macro-economic issues, we believe our cash on hand, as well as our ongoing cash generated from operations might not be sufficient to cover our capital requirements for the next 12 months based on the reported financials ended March 31, 2022 including committed investments to generate revenue growth.
Financial - Earnings Highlight
In addition, as a result of the reduced order intake, continued supply chain disruptions and decreased manufacturing levels, our gross profit will also likely be unfavorably impacted until such time that we are able to operate our manufacturing facilities at the higher capacity levels that were originally planned prior to the COVID-19 pandemic.
Other - Other
Net cash used in investing...Read more
Other - Other
Cash used from financing activities...Read more
Financial - Expense
The increase was mainly driven...Read more
Revenue - Product
The decrease was attributable to...Read more
Revenue - Product
This change was primarily attributable...Read more
Financial - Cash Flow
Based on the prolonged negative...Read more
Other - Other
Further, cash from financing activities...Read more
Revenue - Product
Beginning on March 1, 2022,...Read more
Financial - Expense
Furthermore, Accrued expenses and Accounts...Read more
Financial - Expense
The following is a summary...Read more
Revenue - Product
The increase in plastics components...Read more
Financial - Expense
General and administrative expenses for...Read more
Financial - Earnings
Gross profit for the three...Read more
Financial - Expense
27 Table of Contents Total...Read more
Revenue - Product
The following table sets forth...Read more
Other - Other
Changes in assets and liabilities...Read more
Financial - Expense
Selling expenses for the three...Read more
Other - Other
While we anticipate that the...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Liqtech International Inc provided additional information to their SEC Filing as exhibits

Exhibit 3.1: Articles Of Incorporation

Exhibit 10.1: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: LIQT
CIK: 1307579
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-22-012160
Submitted to the SEC: Thu May 12 2022 4:50:15 PM EST
Accepted by the SEC: Thu May 12 2022
Period: Thursday, March 31, 2022
Industry: Misc Industrial And Commercial Machinery And Equipment