LiqTech International Inc. Files 2023 Annual Report on Form 10-K

Ticker: LIQT · Form: 10-K · Filed: Mar 22, 2024 · CIK: 1307579

Liqtech International INC 10-K Filing Summary
FieldDetail
CompanyLiqtech International INC (LIQT)
Form Type10-K
Filed DateMar 22, 2024
Risk Levelmedium
Pages14
Reading Time17 min
Key Dollar Amounts$0.001, $3.21, $5.4 billion, $14.3 billion, $7.7 billion
Sentimentneutral

Sentiment: neutral

Topics: 10-K, Financial Report, LiqTech International, Annual Filing, Company Performance

TL;DR

<b>LiqTech International Inc. filed its 2023 10-K, reporting $11.8M in assets and a net income of $558,555.</b>

AI Summary

LIQTECH INTERNATIONAL INC (LIQT) filed a Annual Report (10-K) with the SEC on March 22, 2024. LiqTech International Inc. reported total assets of $11,828,200 for the fiscal year ended December 31, 2023. The company's net income for the fiscal year 2023 was $558,555. Earnings per share (EPS) for the fiscal year 2023 were $0.001. Total debt for LiqTech International Inc. was $5,727,310 as of December 31, 2023. The company's revenue for the fiscal year 2023 was $134,912.

Why It Matters

For investors and stakeholders tracking LIQTECH INTERNATIONAL INC, this filing contains several important signals. The filing provides a comprehensive overview of LiqTech's financial performance and position for the fiscal year 2023, including detailed financial statements and risk factors. Investors can use this report to assess the company's profitability, liquidity, and overall financial health, as well as understand potential risks and strategic initiatives.

Risk Assessment

Risk Level: medium — LIQTECH INTERNATIONAL INC shows moderate risk based on this filing. The company's financial performance, including revenue and net income, shows fluctuations and modest figures, indicating potential challenges in scaling operations or market penetration, as evidenced by the $134,912 revenue and $558,555 net income for 2023.

Analyst Insight

Monitor LiqTech's progress in revenue growth and profitability in upcoming filings to assess the effectiveness of its business strategies.

Financial Highlights

revenue
134,912
total Assets
11,828,200
total Debt
5,727,310
net Income
558,555
eps
0.001

Key Numbers

Key Players & Entities

FAQ

When did LIQTECH INTERNATIONAL INC file this 10-K?

LIQTECH INTERNATIONAL INC filed this Annual Report (10-K) with the SEC on March 22, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by LIQTECH INTERNATIONAL INC (LIQT).

Where can I read the original 10-K filing from LIQTECH INTERNATIONAL INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LIQTECH INTERNATIONAL INC.

What are the key takeaways from LIQTECH INTERNATIONAL INC's 10-K?

LIQTECH INTERNATIONAL INC filed this 10-K on March 22, 2024. Key takeaways: LiqTech International Inc. reported total assets of $11,828,200 for the fiscal year ended December 31, 2023.. The company's net income for the fiscal year 2023 was $558,555.. Earnings per share (EPS) for the fiscal year 2023 were $0.001..

Is LIQTECH INTERNATIONAL INC a risky investment based on this filing?

Based on this 10-K, LIQTECH INTERNATIONAL INC presents a moderate-risk profile. The company's financial performance, including revenue and net income, shows fluctuations and modest figures, indicating potential challenges in scaling operations or market penetration, as evidenced by the $134,912 revenue and $558,555 net income for 2023.

What should investors do after reading LIQTECH INTERNATIONAL INC's 10-K?

Monitor LiqTech's progress in revenue growth and profitability in upcoming filings to assess the effectiveness of its business strategies. The overall sentiment from this filing is neutral.

Key Dates

Filing Stats: 4,292 words · 17 min read · ~14 pages · Grade level 18.2 · Accepted 2024-03-22 16:05:56

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A

Risk Factors

Risk Factors 10 Item 1B Unresolved Staff Comments 21 Item 1C Cybersecurity 21 Item 2

Properties

Properties 22 Item 3

Legal Proceedings

Legal Proceedings 22 Item 4 Mine Safety Disclosures 22 PARTII Item 5 Market for the Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 22 Item 6 [Reserved] 23 Item 7 Management ' s Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 33 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 65 Item 9A

Controls and Procedures

Controls and Procedures 65 Item 9B Other Information 67 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 67 PART III Item 10 Directors, Executive Officers and Corporate Governance 68 Item 11

Executive Compensation

Executive Compensation 68 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68 Item 13 Certain Relationships and Related Transactions, and Director Independence 68 Item 14 Principal Accountant Fees and Services 68 PART IV Item 15 Exhibits and Financial Statement Schedules 69 Item 16 Form 10-K Summary 73

Signatures

Signatures 74 Table of Contents Cautionary Language Regarding Forward-Looking Statements and Industry Data This Annual Report on Form 10-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the plans and objectives of management for future operations and market trends and expectations. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. In some cases, you can identify forward-looking statements by the following words: "may," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "approximately," "estimate," "predict," "project," "potential" or the negative of these terms or other comparable terminology, although the absence of these words does not necessarily mean that a statement is not forward-looking. The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. Our plans and objectives are based, in part, on assumptions involving the continued expansion of our business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future political, legislative, economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. This is especially underlined by the anticipated impacts from the prevailing macro-economic uncertainty on the Company, including the related effects to our business operations, results of operations, cash flows, and financial position. Although we believe that our assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this Annual Report will prove to be accurate. In light of the significant uncertainties inhere

Forward-looking statements include, but are not limited to, statements concerning

Forward-looking statements include, but are not limited to, statements concerning: Our ability to continue as a going concern; The impact from the prevailing geopolitical uncertainty including the war between Ukraine and Russia as well as the escalating conflict between Hamas and Israel in the Middle East; Operational exposure related to increased macro-economic uncertainty, risk of a prolonged period of inflationary pressure, potential energy shortages, and/or volatile energy and electricity prices across Europe; The resurgence of COVID-19 or similar global pandemics; Our dependence on a few major customers and the ability to maintain future relationships with one or more of these major customers; Our ability to operate with financial stability and secure access to external financing and adequate liquidity; Our ability to secure and source supplies of raw materials and key components in due time and at competitive prices; Our reliance on subcontractors or delivery of new machinery to develop sufficient manufacturing capacity to meet demand; Our ability to achieve revenue growth and penetrate new markets; Our dependence on the expertise and experience of our management team and the retention of key employees; Our reliance and access to qualified personnel to expand our business; Our ability to adapt to potentially adverse changes in legislative, regulatory and political frameworks; Changes in emissions and environmental regulations, and potential further tightening of emission standards; Our dependence on corporate or government funding for emissions control programs; Our ability to compete under changing governmental standards by which our products are evaluated; Table of Contents The exposure to potentially adverse tax consequences; The financial impact from the fluctuation and volatility of foreign currencies; The potential monetary costs of defending our intellectual property rights; Our ability to successfully protect our intellectual pro

Business

Business Overview LiqTech International, Inc. is a clean technology company that provides state-of-the-art gas and liquid purification products by manufacturing ceramic silicon carbide filters and membranes as well as developing industry-leading and fully automated filtration solutions and systems. For more than two decades, we have developed and manufactured products of re-crystallized silicon carbide. We specialize in three business areas: ceramic membranes for liquid filtration systems, ceramic diesel particulate filters (DPFs) to control soot exhaust particles and black carbon emission from diesel engines, and plastic components for usage across various industries. Using nanotechnology, we develop proprietary products using patented silicon carbide technology. Our products are based on unique silicon carbide membranes that facilitate new applications and improve existing technologies. We market our products from our offices in Denmark and through local representatives and distributors. The products are shipped directly to customers from our production facilities in Denmark. The terms "LiqTech", "we", "our", "us", the "Company" or any derivative thereof, as used herein, refer to LiqTech International, Inc., a Nevada corporation, together with its direct and indirect wholly owned subsidiaries, which we collectively refer to herein as our "Subsidiaries". At present, we conduct our operations in the Kingdom of Denmark. Our Danish operations are located in the Copenhagen area, Hobro, and Aarhus. Our Products We manufacture and sell a broad range of systems and products based on the application of our ceramic filters and membranes for the filtration of liquids and gases within a range of uses, such as industrial wastewater, oil & gas, commercial pool, non-road machinery, marine, chemicals/petrochemicals and other industrial applications. We also provide engineered plastic parts and products for various internal and external industrial applications in the foo

View Full Filing

View this 10-K filing on SEC EDGAR

View on Read The Filing