LiqTech International (LIQT) 10-Q 12 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 12, 2015
Entity Registrant Name	LIQTECH INTERNATIONAL INC
Entity Central Index Key	1,307,579
Trading Symbol	liqt
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		39,532,035
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash	$ 2,347,656	$ 5,853,752
Restricted cash		218,879
Accounts receivable, net	$ 3,917,945	1,992,206
Other receivables	268,294	344,331
Cost in excess of billing	480,188	1,172,658
Inventories	4,461,616	4,914,866
Prepaid expenses	3,212	55,990
Current deferred tax asset	127,350	109,637
Total Current Assets	11,606,261	14,662,319
Net Property and Equipment	3,734,669	4,524,386
Other Assets:
Other investments	5,594	6,085
Long term deferred tax asset	4,182,353	3,496,459
Goodwill	7,777,704	8,460,512
Other intangible assets	11,843	16,708
Deposits	247,671	259,070
Total Other Assets	12,225,165	12,238,834
Total Assets	27,566,095	31,425,539
Current Liabilities:
Current portion of capital lease obligations	158,954	170,187
Accounts payable	2,579,026	2,336,942
Accrued expenses	1,223,645	$ 1,439,735
Billing in excess of cost	$ 40,051
Accrued income taxes payable		$ 570
Deferred revenue / customers deposits	$ 271,418	144,476
Total Current Liabilities	4,273,094	4,091,910
Long-term lease payments	203,694	368,614
Total Long-Term Liabilities	203,694	368,614
Total Liabilities	4,476,788	4,460,524
Stockholders' Equity:
Common stock; par value $0,001, 100,000,000 shares authorized, 39,532,035 and 39,404,782 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	39,532	39,405
Additional paid-in capital	35,991,082	35,632,410
Accumulated deficit	(7,726,730)	(5,382,852)
Deferred compensation	(599,454)	(504,748)
Other comprehensive income, net	$ (4,615,123)	(2,835,917)
Non-controlled interest in subsidiaries		16,717
Total Stockholders' Equity	$ 23,089,307	26,965,015
Total Liabilities and Stockholders' Equity	$ 27,566,095	$ 31,425,539

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	39,532,035	39,404,782
Common stock, shares outstanding (in shares)	39,532,035	39,404,782

(Unaudited) Consolidated Statem

(Unaudited) Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Sales	$ 6,933,197	$ 4,931,406	$ 10,738,753	$ 12,102,595
Cost of Goods Sold	4,618,603	3,464,284	9,029,567	9,229,131
Gross Profit	2,314,594	1,467,122	1,709,186	2,873,464
Operating Expenses:
Selling expenses	646,269	831,990	2,084,204	2,430,814
General and administrative expenses	656,090	738,761	2,155,218	2,174,942
Non-cash compensation expenses	106,448	(19,663)	264,094	372,960
Research and development expenses	171,157	83,113	536,614	223,532
Total Operating Expense	1,579,964	1,634,201	5,040,130	5,202,248
Income (Loss) from Operations	734,630	(167,079)	(3,330,944)	(2,328,784)
Other Income (Expense)
Interest and other income	48,978	16,032	98,680	29,777
Interest expense	(8,677)	(18,794)	(43,504)	(40,914)
Gain (loss) on investments	(10)	9	7,285	(832)
Gain (loss) on currency transactions	(34,834)	237,551	97,907	192,226
Total Other Income (Expense)	5,457	234,798	160,368	180,257
Income (Loss) Before Taxes	740,087	67,719	(3,170,576)	(2,148,527)
Income Tax Expense (Benefit)	118,678	(276,870)	(848,426)	(972,430)
Net Loss	621,409	344,589	(2,322,150)	(1,176,097)
Less Net Income (Loss) Attributable To Non-Controlled Interests in Subsidiaries	(29)	(2,915)	21,731	(6,029)
Profit (Loss) attributable to LiqTech International Inc.	$ 621,438	$ 347,504	$ (2,343,881)	$ (1,170,068)
Basic Earnings (Loss) Per Share (in dollars per share)	$ 0.02	$ 0.01	$ (0.06)	$ (0.04)
Weighted average number of common shares used in basic earnings per share (in shares)	39,519,705	35,613,164	39,471,745	30,043,493
Diluted Earnings (Loss) Per Share (in dollars per share)	$ 0.02	$ 0.01	$ (0.06)	$ (0.04)
Weighted Average Common Shares Outstanding Assuming Dilution (in shares)	39,531,786	36,034,570	39,471,745	30,043,493

(Unaudited) Consolidated State5

(Unaudited) Consolidated Statements of Other Comprehensive Income - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net Loss	$ 621,409	$ 344,589	$ (2,322,150)	$ (1,176,097)
Currency Translation, Net of Taxes	(169,571)	(1,852,400)	(1,779,206)	(1,874,600)
Other Comprehensive Income (Loss)	451,838	(1,507,811)	(4,101,356)	(3,050,697)
Comprehensive Income (Loss) Attributable To Non-controlling Interest in Subsidiaries	25	(1,745)	(1,633)	(1,928)
Comprehensive Income (Loss) Attributable To LiqTech International, Inc.	$ 451,813	$ (1,506,066)	$ (4,099,723)	$ (3,048,769)

(Unaudited) Consolidated State6

(Unaudited) Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Option [Member]
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Non-cash compensation	$ 112,528	$ (6,439)
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	112,528	(6,439)
Restricted Stock [Member]
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Non-cash compensation	146,250	319,999
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	146,250	319,999
Warrants Issued for Services [Member]
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Non-cash compensation	5,316	59,400
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	5,316	59,400
Net Loss	(2,322,150)	(1,176,097)
Depreciation and amortization	1,055,555	1,264,536
Non-cash compensation	264,094	372,960
Bad debt expense	35,163	$ 131,111
Reserve for obsolete inventory	76,492
Change in deferred tax asset / liability	(703,607)	$ (893,309)
(Increase) decrease in accounts receivable	(1,884,865)	9,570
(Increase) decrease in inventory	376,758	434,124
(Increase) decrease in prepaid expenses/deposits	64,177	(54,803)
Increase (decrease) in accounts payable	242,084	(1,146,846)
Increase (decrease) in accrued expenses	(89,718)	(2,211,334)
Increase (decrease) long-term contracts	732,521	(438,682)
Total Adjustments	168,654	(2,532,673)
Net Cash Used by Operating Activities	(2,153,496)	(3,708,770)
Purchase of property and equipment	$ (409,093)	(190,440)
Acquisition of Provital Solutions AS		(1,874,684)
Net Cash Provided (Used) by Investing Activities	$ (409,093)	$ (2,065,124)
Restricted Cash	$ 218,879
Payments on notes payable		$ (131,559)
Net payments on lines of credit		(1,791,895)
Net payments proceeds on capital lease obligation	$ (176,153)	(144,596)
Proceeds from issuance of common stock and warrants		12,071,250
Payment of stock offering costs		(1,149,096)
Net Cash Provided (Used) by Financing Activities	$ 42,726	8,854,104
Loss on Currency Translation	(986,233)	(1,228,372)
Net Increase (Decrease) in Cash and Cash Equivalents	(3,506,098)	1,851,838
Cash and Cash Equivalents at Beginning of Period	5,853,752	4,884,275
Cash and Cash Equivalents at End of Period	2,347,656	6,736,113
Interest	$ 43,504	40,914
Income Taxes		1,000
Non-cash compensation	$ 264,094	372,960
Value of stock issued to acquire Provital Solutions AS		6,067,173
Total	$ 264,094	$ 6,440,133

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Basis of Presentation The consolidated financial statements include the accounts of LiqTech International, Inc. (“Parent”) and its subsidiaries. The terms "Company", “us", "we" and "our" as used in this report refer to Parent and its subsidiaries, which are set forth below. The Company engages in the development, design, production, marketing and sale of automated filtering systems, liquid filters, diesel particulate air filters and kiln furniture in United States, Canada, Europe, Asia and South America. Set forth below is a description of Parent and each of its subsidiaries: LiqTech International, Inc., a Nevada corporation incorporated in July 2004, formerly known as Blue Moose Media, Inc. (also referred to herein as Parent). LiqTech USA, a Delaware corporation and a wholly owned subsidiary of Parent formed in May 2011. LiqTech International AS (“LiqTech Int. DK”), a Danish corporation, incorporated on January 15, 2000, a 100% owned subsidiary of LiqTech USA, engages in development, design, application, marketing and sales of ceramic liquid filters, diesel particulate filters and catalytic converters in Europe, Asia and South America. LiqTech NA, Inc. (“LiqTech NA”), incorporated in Delaware on July 1, 2005, a 100% owned subsidiary of LiqTech USA as of December 31, 2013, prior to December 31, 2013 LiqTech NA, Inc. was owned 90% by LiqTech International AS and 10% by LiqTech USA, LiqTech NA, Inc. engages in the production, marketing and sale of ceramic diesel particulate and liquid filters and kiln furniture in United States and Canada. LiqTech Germany (“LiqTech Germany”), a 100% owned subsidiary of LiqTech Int. DK, incorporated in Germany on December 9, 2011, engages in marketing and sale of liquid filters in Germany. LiqTech PTE Ltd, (“LiqTech Sing”), a 95% owned subsidiary of LiqTech Int. DK, incorporated in Singapore on January 19, 2012, engages in marketing and sale of liquid filters in Singapore and other countries in the area. Provital Solutions AS (“Provital”), a Danish corporation was incorporated on September 1, 2009 and engages in the manufacture of fully automated filtering systems for application within the pool and spa markets, marine applications, and a number of industrial applications within Denmark and international markets. The financial statements include the accounts of Provital from the date of acquisition on July 29, 2014. LiqTech Asia (“LiqTech Asia”), a former 60% owned subsidiary of LiqTech Int. DK, incorporated in South Korea on July 20, 2006, liquidated in March 2015. The accompanying financial statements are unaudited. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at September 30, 2015 and 2014 and for the periods then ended have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s December 31, 2014 audited consolidated financial statements. The results of operations for the periods ended September 30, 2015 and 2014 are not necessarily indicative of the operating results for the full year. Consolidation -- Functional Currency / Foreign currency translation -- September 30, 2015 and 2014. Translation gains and losses are deferred and accumulated as a component of other comprehensive income in stockholders’ equity. Transaction gains and losses that arose from exchange rate fluctuations from transactions denominated in a currency other than the functional currency are included in the statement of operations as incurred. Cash, Cash Equivalents and Restricted Cash -- September 30, 2015 and December 31, 2014. Accounts Receivable -- The roll forward of the allowance for doubtful accounts for the nine months ended September 30, 2015 and the year ended December 31, 2014 is as follows: 2015 2014 Allowance for doubtful accounts at the beginning of the period $ 1,654,290 $ 608,356 Bad debt expense 35,163 216,919 Amount of receivables written off (211,486 ) (42,117 ) Acquired subsidiary - 951,354 Effect of currency translation (171,132 ) (80,222 ) Allowance for doubtful accounts at the end of the period $ 1,306,835 $ 1,654,290 Inventory -- Property and Equipment -- Long-Term Investments -- Intangible Assets -- Goodwill -- Goodwill is evaluated for impairment annually, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Triggering events that may indicate impairment include, but are not limited to, a significant adverse change in customer demand or business climate that could affect the value of goodwill or a significant decrease in expected cash flows. Revenue Recognition and Sales Incentives -- The Company has received long-term contracts for the installation of various water filtrations systems and grants from Government entities for development and use of silicon carbide membranes in various water filtration and treatment applications. Revenues from long-term contracts and grants are recognized on the percentage-of-completion method, measured by the percentage of NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ( Continued) Project costs of the long-term contracts and grants include all direct material and labor costs and those indirect costs related to the project. Project costs are capitalized and accreted into cost of sales based on the percentage of the project completed. Should a loss be estimated on an incomplete project it would be recorded in the period in which such a loss is determined. Changes in estimated profitability of a project are recognized in the period in which the revisions are determined. The aggregate of costs incurred and income recognized on incomplete projects are recorded as costs in excess of billings and are shown as a current asset. The aggregate of billings in excess of related costs incurred and income recognized on projects is shown as a current liability. In Denmark, Value Added Tax (“VAT”) of 25% of the invoice amount is collected in respect of the sales of goods on behalf of tax authorities. The VAT collected is not revenue of the Company; instead, the amount is recorded as a liability on the balance sheet until such VAT is paid to the authorities. Advertising Cost -- September 30, 2015 and 2014, respectively. Research and Development Cost -- September 30, 2015 and 2014 were $ 536,614 and $223,532, respectively, of research and development costs. Income Taxes -- Income (Loss) Per Share -- Stock Options -- Fair Value of Financial Instruments -- ● Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities; ● Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and ● Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, accounts receivable, prepaid expenses, investments, accounts payable, accrued expenses, capital lease obligations and notes payable approximates their recorded values due to their short-term maturities. Accounting Estimates -- contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ( Continued) Recent Accounting Pronouncements -- In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. generally accepted accounting principles. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. On July 9, 2015, the FASB agreed to delay the effective date by one year. In accordance with the agreed upon delay, the new standard is effective for us beginning in the first quarter of 2018 and we expect to adopt it at that time. The new standard is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. We have not yet selected a transition method nor have we determined the impact of the new standard on our consolidated condensed financial statements. Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

Note 2 - Related Party Transact

Note 2 - Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 2 - RELATED PARTY TRANSACTIONS Payments to Related Parties -- During October and December 2014, an officer of LiqTech NA provided $25,000 and $35,000, respectively, in non-interest bearing advances to the Company. These advances have been included in accounts payable at December 31, and were repaid in January 2015. During March 2015, an officer of LiqTech NA provided $25,000 in non-interest bearing advances to the Company. These advances were repaid in May 2015.

Note 3 - Inventory

Note 3 - Inventory	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 3 - INVENTORY Inventory consisted of the following at September 30, 2015 and December 31, 2014: 2015 2014 Furnace parts and supplies $ 414,920 $ 507,849 Raw materials 1,511,854 1,501,050 Work in process 1,406,676 1,326,840 Finished goods and filtration systems 1,641,479 2,028,225 Reserve for obsolescence (513,313 ) (449,098 ) Net Inventory $ 4,461,616 $ 4,914,866

Note 4 - Property and Equipment

Note 4 - Property and Equipment	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following at September 30, 2015 and December 31, 2014: Useful Life 2015 2014 Production equipment 3 - 10 $ 10,581,305 $ 10,792,494 Lab equipment 3 - 10 147,479 160,427 Computer equipment 3 - 5 274,110 288,351 Vehicles 3 41,403 93,477 Furniture and fixture 5 127,277 180,138 Leasehold improvements 10 989,543 1,052,923 12,161,117 12,567,810 Less Accumulated Depreciation (8,426,448 ) (8,043,424 ) Net Property and Equipment $ 3,734,669 $ 4,524,386 Depreciation expense amounted to $1,050,690 and $1,258,479 for the nine months ended September 30, 2015 and 2014, respectively.

Note 5 - Investments at Costs

Note 5 - Investments at Costs	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 - INVESTMENTS AT COSTS The following tables summarize Level 1, 2 and 3 financial assets and financial (liabilities) by their classification in the Statement of Financial Position: As of September 30, 2015 Level 1 Level 2 Level 3 Investments - - 5,594 Total - - 5,594 As of December 31, 2014 Level 1 Level 2 Level 3 Investments - - 6,085 Total - - 6,085 At September 30, 2015 and December 31, 2014, our total investments of $5,594 and $6,085, respectively consisted of an investment in LEA Technology in France to strengthen our sales channels in the French market.

Note 6 - Definite-life Intangib

Note 6 - Definite-life Intangible Assets	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 6 - DEFINITE-LIFE INTANGIBLE ASSETS At September 30, 2015 and December 31, 2014, definite-life intangible assets, net of accumulated amortization, consisted of patents on the Company’s products of $11,843 and $16,708, respectively. The patents are recorded at cost and amortized over two to ten years. Amortization expense for the nine months ended September 30, 2015 and 2014 was $4,865 and $6,057, respectively. Expected future amortization expense for the years ended are as follows: Year ending December 31, Amortization Expenses 2015 $ 1,177 2016 4,707 2017 2,858 2018 2,404 2019 697 Thereafter - $ 11,843

Note 7 - Goodwill

Note 7 - Goodwill	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Goodwill Disclosure [Text Block]	NOTE 7 - GOODWILL The following is a summary of goodwill: September 30, 2015 Goodwill at beginning of period $ 8,460,512 Acquisition of Provital Solutions A/S - Adjustment made to opening goodwill - Effect of currency translation (682,808 ) Goodwill at end of period $ 7,777,704 Goodwill consists of: September 30, 2015 Provital Solutions A/S $ 7,777,704 Impairment -- During December 2014, management performed its annual test of impairment of goodwill by comparing the net carrying value of the intangible asset with the fair value of the reporting unit. Based upon the results of this analysis, it was determined that the goodwill was not impaired. During December 2014, an adjustment was made to the goodwill acquired in the acquisition of Provital for $775,788 in allowances established against acquired receivables and $196,255 in additional cost on record on long-term contacts net of $135,990 in taxes.

Note 8 - Lines of Credit

Note 8 - Lines of Credit	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - LINES OF CREDIT Provital had previously a DKK 2,000,000 (approximately $300,000 at September 30, 2015) standby line of credit with a bank, subject to certain borrowing base limitations. Outstanding borrowings are due on demand. Interest is calculated based on a variable interest rate and is payable quarterly. The line was cancelled June 12, 2015. In connection with certain orders, we have to give the customer a working guarantee or a prepayment guarantee or security bond. For that purpose, we have a credit line of DKK 500,000 (approximately $75,000 at September 30, 2015) with a bank, subject to certain base limitations. As September 30, 2015, we had DKK 473,100 (approximately $71,000) in working guarantee against the line. This line of credit is guaranteed by Vækstfonden (the Danish state's investments fund) and is secured by certain assets of Provital such as receivables, inventory and equipment .

Note 9 - Leases

Note 9 - Leases	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE 9 – LEASES Operating Leases -- The future minimum lease payments for non-cancelable operating leases having remaining terms in excess of one year as of September 30, 2015 are as follows: Year ending December Operating Lease Payments 2015 $ 171,293 2016 661,809 2017 432,462 2018 255,805 2019 - Thereafter - Total Minimum Lease Payments $ 1,521,369 Lease expense charged to operations was $521,871 and $539,443 for the nine months ended September 30, 2015 and 2014, respectively. Capital Leases -- September 30, 2015 and December 31, 2014, the Company had recorded equipment on capital lease at $1,335,480 and $1,599,633, respectively, with related accumulated depreciation of $1,025,125 and $963,467, respectively. During the nine months ended September 30, 2015 and 2014, depreciation expense for equipment on capital leases amounted to $107 ,375, and $153 ,378, respectively, and has been included in depreciation expense. During the nine months ended September 30, 2015 and 2014, interest expense on a capital lease obligation amounted to $21 ,139 and $30 ,227, respectively. Future minimum capital lease payments are as follows for the periods ended December 31: Year Ending December Capital Lease Payments 2015 $ 44,654 2016 192,693 2017 128,833 2018 25,124 2019 - Thereafter - Total minimum lease payments 391,304 Less amount representing interest (28,656 ) Present value of minimum lease payments 362,648 Less current portion (158,954 ) Long-term lease payments $ 203,694

Note 10 - Agreements and Commit

Note 10 - Agreements and Commitments	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 10 – AGREEMENTS AND COMMITMENTS 401(K) Profit Sharing Plan -- LiqTech NA has a 401(k) profit sharing plan and trust covering certain eligible employees. The amount LiqTech NA contributes is discretionary. For the nine months ended September 30, 2015 and 2014, matching contributions were expensed and totaled $10,784 and $12,110, respectively.

Note 11 - Income Taxes

Note 11 - Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 11 – INCOME TAXES The Company accounts for income taxes in accordance with FASB ASC Topic 740, Accounting for Income Taxes; which requires the Company to provide a net deferred tax asset or liability equal to the expected future tax benefit or expense of temporary reporting differences between book and tax accounting and any available operating loss or tax credit carry forwards. The amount of and ultimate realization of the benefits from the deferred tax assets for income tax purposes is dependent, in part, upon the tax laws in effect, the Company’s future earnings, and other future events, the effects of which cannot be determined. The temporary differences, tax credits and carry forwards gave rise to the following deferred tax asset (liabilities) at September 30, 2015 and December 31, 2014: 2015 2014 Vacation accrual $ 5,077 $ 5,077 Allowance for doubtful accounts 14,136 13,955 Reserve for obsolete inventory 108,137 90,605 Net current tax assets $ 127,350 $ 109,637 Business tax credit carryover 25,709 25,709 Deferred compensation 171,615 171,615 Net operating loss carryover 4,705,345 4,001,198 Excess of book over tax depreciation (586,673 ) (583,735 ) Valuation Allowance (133,643 ) (118,328 ) Long term deferred tax asset $ 4,182,353 $ 3,496,459 In accordance with prevailing accounting guidance, the Company is required to recognize and disclose any income tax uncertainties. The guidance provides a two-step approach to recognizing and measuring tax benefits and liabilities when realization of the tax position is uncertain. The first step is to determine whether the tax position meets the more-likely-than-not condition for recognition and the second step is to determine the amount to be recognized based on the cumulative probability that exceeds 50%. The amount of and ultimate realization of the benefits from the deferred tax assets for income tax purposes is dependent, in part, upon the tax laws in effect, the Company’s future earnings, and other future events, the effects of which can difficult to determine and can only be estimated. Management estimates that it is more likely than not that the Company will generate adequate net profits to use the deferred tax assets; management has estimated that all of the deferred tax will be realized and consequently, a valuation allowance was not recorded. A reconciliation of income tax expense at the federal statutory rate to income tax expense at the Company’s effective rate is as follows for the nine months ended September 30, 2015 and 2014: 2015 2014 Computed tax at expected statutory rate $ (1,085,383 ) $ (1,107,897 ) State and local income taxes, net of federal benefits - (24,703 ) Non-deductible expenses 74,380 52,174 Non-US income taxed at different rates 120,213 107,996 Valuation Allowance 42,364 - Income tax expense (benefit) $ (848,426 ) $ (972,430 ) The components of income tax expense (benefit) from continuing operations for the nine months ended September 30, 2015 and 2014 consisted of the following: 2015 2014 Current income tax expense: Danish $ - $ - Korean - 1,020 Federal - - State - - Current tax (benefit) $ - $ - Book in excess of tax depreciation $ - $ - Net operating loss carryover (831,945 ) (973,450 ) Valuation allowance 42,364 - Reserve for obsolete inventory (58,845 ) - Deferred tax expense (benefit) $ (848,426 ) $ (973,450 ) Total tax expense (benefit) $ (848,426 ) $ (972,430 ) Deferred income tax expense / (benefit) results primarily from the reversal of temporary timing differences between tax and financial statement income. The Company files Danish and U.S. federal and Minnesota state income tax returns. LiqTech International AS is generally no longer subject to tax examinations for years prior to 2009 for their Danish tax returns. LiqTech NA is generally no longer subject to tax examinations for years prior to 2011 for U.S. federal and U.S. states tax returns.

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 12 – INCOME ( LOSS ) PER SHARE The following data shows the amounts used in computing earnings per share and the effect on income and the weighted average number of shares of potential dilutive common stock for the nine months ended September 30, 2015 and 2014: For the Three Months Ended September 30 For the Nine Months Ended September 30 2015 2014 2015 2014 Profit (Loss) attributable to LiqTech International Inc. $ 621,438 $ 347,504 $ (2,322,150 ) $ (1,170,068 ) Weighted average number of common shares used in basic earnings per share 39,519,705 35,613,164 39,471,745 30,043,493 Effect of dilutive securities, stock options and warrants 12,081 421,406 - - Weighted average number of common shares and potentially dilutive securities 39,531,786 36,034,570 39,471,745 30,043,493 For the nine months ended September 30, 2015, Parent had 1,013,500 options outstanding to purchase common stock of the Parent at $0.74 to $1.90 per share and Parent had 7,225,575 warrants outstanding to purchase common stock of the Parent at $1.00 to $4.06 per share, which were not included in the loss per share computation because their effect would be anti-dilutive. For the nine months ended September 30, 2014, Parent had 2,416,630 options outstanding to purchase common stock of the Parent at $1.50 to $3.60 per share and Parent had 7,425,575 warrants outstanding to purchase common stock of the Parent at $1.50 to $4.06 per share, which were not included in the loss per share computation because their effect would be anti-dilutive.

Note 13 - Stockholders' Equity

Note 13 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 13 - STOCKHOLDERS' EQUITY Common Stock -- Voting -- Dividends -- Liquidation Rights -- Other Matters -- Preferred Stock -- Common Stock Issuance On April 14, 2015, the Company issued an additional 27,253 shares of restricted stock valued at $20,167 for services provided and to be provided by the board of directors. The Company will recognize the non-cash compensation of the award over the requisite service period, of which 27,253 shares will vest on December 31, 2015. On April 13, 2015, the Company issued an additional 100,000 shares of restricted stock valued at $75,000 for services provided and to be provided by the board of directors. The Company will recognize the non-cash compensation of the award over the requisite service period, of which 33,333 shares will vest on December 31, 2015, 33,333 shares will vest on December 31, 2016 and 33,334 shares will vest on December 31, 2017. On July 28, 2014, Parent completed a registered public offering of its common stock. As part of the closing, Parent issued 8,000,000 shares of common stock at a per share price of $1.50 and generated net proceeds of $10,736,278 net of offering costs of $1,263,722. On the July 29, 2014, the Company, through its subsidiary, LiqTech Int. DK, completed the acquisition of all of the issued and outstanding capital stock (the “Provital Shares”) of Provital and as part of the consideration for the Provital Shares, the Company issued 4,044,782 of Parent’s common shares. During the third quarter 2014, the Company issued 47,500 shares of common stock in connection with the exercise of 47,500 stock options with an exercise price of $1.50 each. During 2014, the Company issued an additional 100,000 shares of restricted stock valued at $158,000 for services provided by the board of directors. The Company will recognize the non-cash compensation of the award over the requisite service period, of which 33,333 shares vested on December 31, 2014, 33,333 shares will vest on December 31, 2015 and 33,334 shares will vest on December 31, 2016. During 2013, the Company issued an additional 300,000 shares of restricted stock valued at $960,000 for services provided and to be provided by the board of directors. The Company will recognize the non-cash compensation of the award over the requisite service period, of which 133,333 shares vested on December 31, 2013, 133,333 shares vested on December 31, 2014 and 33,334 shares will vest on December 31, 2015. As of December 31, 2014 and 2013, the Company has recorded non-cash compensation expense of $479,333 and $426,667 relating to the awards, respectively. Common Stock Purchase Warrants A summary of the status of the warrants outstanding at September 30, 2015 is presented below: Warrants Outstanding Warrants Exercisable Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 1.00 200,000 2.26 $ 1.00 66,667 $ 1.00 $ 1.50 3,874,000 1.26 $ 1.50 3,874,000 $ 1.50 $ 1.65 400,000 3.83 $ 1.65 400,000 $ 1.65 $ 2.70 2,626,000 1.26 $ 2.70 2,626,000 $ 2.70 $ 4.06 125,575 1.44 $ 4.06 125,575 $ 4.06 Total 7,225,575 1.43 $ 1.98 7,092,242 $ 1.99 At September 30, 2015, the Company had 133,333 non-vested warrants. We have recorded non-cash compensation expense of $5,316 for the period ended September 30, 2015 related to the warrants issued. The exercise price of the warrants and the number of shares underlying the warrants are subject to adjustment for stock dividends, subdivisions of the outstanding shares of common stock and combinations of the outstanding shares of common stock. For so long as the warrants remain outstanding, we are required to keep reserved from our authorized and unissued shares of common stock a sufficient number of shares to provide for the issuance of the shares underlying the warrants. On June 4, 2015, the Company issued to Wolfe Axelrod Weinberger Associates, LLC a warrant to purchase 200,000 shares at an exercise price of $1.00 per share. The warrants are exercisable 1/3 upon issuance, 1/3 on June 4, 2016 and 1/3 on June 2017 and will remain exercisable until December 31, 2017. On July 28, 2014, the Company issued to the Underwriter in our public offering, for a price of $50, a warrant to purchase 400,000 shares at an exercise price of $1.65 per share. The warrants are immediately exercisable and will remain exercisable for five years from date of issuance. Stock Options In August 2011, Parent’s Board of Directors adopted a Stock Option Plan (the “Plan”). Under the terms and conditions of the Plan, the Board of Directors is empowered to grant stock options to employees, officers, and directors of the Companys. At September 30, 2015, 1,013,500 options were granted and outstanding under the Plan. The Company recognizes compensation costs for stock option awards to employees based on their grant-date fair value. The value of each stock option is estimated on the date of grant using the Black-Scholes option-pricing model. The weighted-average assumptions used to estimate the fair values of the stock options granted using the Black-Scholes option-pricing model are as follows: LiqTech International, Inc. Expected term (in years) 3 - 5 Volatility 48.22 Risk free interest rate 0.80% Dividend yield 0% The Company recognized stock based compensation expense related to the options of $68,317 and $119,891 for the nine months ended September 30, 2015 and 2014, respectively. At September 30, 2015 the Company had approximately $260,248 of unrecognized compensation cost related to non-vested options expected to be recognized through April 13, 2020. A summary of the status of the options outstanding under the Company’s stock option plans at September 30, 2015 is presented below: Options Outstanding Options Exercisable Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.74 425,000 4.87 $ 0.74 0 $ 0.74 $ 0.75 100,000 4.54 $ 0.75 0 $ 0.75 $ 1.57 100,000 2.04 $ 1.57 33,333 $ 1.57 $ 1.90 388,500 1.33 $ 1.90 259,000 $ 1.90 Total 1,013,500 3.20 $ 1.27 292,333 $ 1.86 A summary of the status of the options at September 30, 2015, and changes during the period is presented below: September 30, 2015 Shares Weighted Average Exercise Price Average Remaining Life Weighted Average Intrinsic Value Outstanding at beginning of period 1,960,130 $ 2.55 0.70 $ - Granted 525,000 0.74 - 67,250 Exercised - - - - Forfeited 15,000 1.90 - - Expired 1,456,630 2.79 - - Outstanding at end of period 1,013,500 $ 1.27 3.20 $ 67,250 Vested and expected to vest 1,013,500 $ 1.27 3.20 $ 67,250 Exercisable end of period 292,333 $ 1.86 1.41 $ - At September 30, 2015, the Company had 721,167 non-vested options with a weighted average exercise price of $1.03 and with a weighted average grant date fair value of $0.52, resulting in unrecognized compensation expense of $374,781, which is expected to be expensed over a weighted-average period of 3.46 years. The total intrinsic value of options at September 30, 2015 was $67,250. Intrinsic value is measured using the fair market value at the date of exercise (for shares exercised) or at September 30, 2015 (for outstanding options), less the applicable exercise price.

Note 14 - Significant Customers

Note 14 - Significant Customers / Concentration	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 14 - SIGNIFICANT CUSTOMERS / CONCENTRATION For the nine months ended September 30, 2015, our four largest customers accounted for approximately 16%, 12%, 9% and 6%, respectively of our net sales (approximately 43% in total). The Company had no customers that accounted for more than 10% of total sales at September 30, 2014. The Company sells products throughout the world; sales by geographical region are as follows for the three and nine months ended September 30, 2015 and 2014: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2 015 2014 2015 2014 United States and Canada $ 347,359 $ 1,066,463 $ 1,267,975 $ 2,841,932 Australia 98,425 179,981 310,982 264,296 South America 2,400,000 - 2,400,000 16,845 Asia 880,123 696,102 1,122,357 1,191,035 Europe 3,207,290 2,988,860 5,637,439 7,788,487 $ 6,933,197 $ 4,931,406 $ 10,738,753 $ 12,102,595 The Company’s sales by product line are as follows for the three and nine months ended September 30, 2015 and 2014: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Ceramic diesel particulate $ 2,277,616 $ 1,519,204 $ 4,184,235 $ 5,137,720 Liquid filters and systems 4,594,755 3,256,689 6,224,223 6,639,362 Kiln furniture 60,826 155,513 330,295 325,513 $ 6,933,197 $ 4,931,406 $ 10,738,753 $ 12,102,595

Note 15 - Commitments

Note 15 - Commitments	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	NOTE 15 – COMMITTMENTS Contingent Shares In Connection With Acquisition The purchase agreement includes “catch up” provisions that provide that the Payment Shares placed in escrow will be released from escrow if Provital (1) for the years ending December 31, 2014 and December 31, 2015, achieves accumulated gross revenues (i) exceeding DKK 185,000,000 and EBITDA of DKK 18,500,000, or (ii) EBITDA of not less than DKK 26,000,000 and gross revenues of not less than DKK 130,000,000 or (2) for the year ending December 31, 2016, achieves gross revenues exceeding DKK 105,000,000 and EBITDA of not less than DKK 21,000,000.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 16 – SUBSEQUENT EVENTS The Company’s management reviewed material events through November 12, 2015 and there were no subsequent events. October 13, 2015, Parent held its annual meeting of stockholders (the “Meeting”). A total of 30,851,565 shares of Parent’s common stock, par value $0.001 per share (“Common Stock”), were present or represented by proxy at the Meeting, representing approximately seventy eight percent (78%) of the outstanding Common Stock as of September 8, 2015, the record date for the Meeting. At the Meeting, the following four (4) proposals were submitted for a vote and approved by the requisite votes of the stockholders: (a) the election of Aldo Petersen, Paul Burgon, Mark Vernon, Michael S. Barish, Rengarajan Ramesh, and Sune Mathiesen for terms until the next succeeding annual meeting of stockholders or until such directors’ successor shall have been duly elected and qualified, (b) the ratification of Gregory & Associates, LLC as Parent’s independent registered accounting firm. (c) the approval of a non-binding advisory resolution approving the compensation of Parent’s named executive officers and (d) the approval of a non-binding resolution regarding the frequency of future advisory votes on the compensation of Parent’;s named executive officers which could be held every year, every two (2) years or every three (3) years.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Business and Basis of Presentation The consolidated financial statements include the accounts of LiqTech International, Inc. (“Parent”) and its subsidiaries. The terms "Company", “us", "we" and "our" as used in this report refer to Parent and its subsidiaries, which are set forth below. The Company engages in the development, design, production, marketing and sale of automated filtering systems, liquid filters, diesel particulate air filters and kiln furniture in United States, Canada, Europe, Asia and South America. Set forth below is a description of Parent and each of its subsidiaries: LiqTech International, Inc., a Nevada corporation incorporated in July 2004, formerly known as Blue Moose Media, Inc. (also referred to herein as Parent). LiqTech USA, a Delaware corporation and a wholly owned subsidiary of Parent formed in May 2011. LiqTech International AS (“LiqTech Int. DK”), a Danish corporation, incorporated on January 15, 2000, a 100% owned subsidiary of LiqTech USA, engages in development, design, application, marketing and sales of ceramic liquid filters, diesel particulate filters and catalytic converters in Europe, Asia and South America. LiqTech NA, Inc. (“LiqTech NA”), incorporated in Delaware on July 1, 2005, a 100% owned subsidiary of LiqTech USA as of December 31, 2013, prior to December 31, 2013 LiqTech NA, Inc. was owned 90% by LiqTech International AS and 10% by LiqTech USA, LiqTech NA, Inc. engages in the production, marketing and sale of ceramic diesel particulate and liquid filters and kiln furniture in United States and Canada. LiqTech Germany (“LiqTech Germany”), a 100% owned subsidiary of LiqTech Int. DK, incorporated in Germany on December 9, 2011, engages in marketing and sale of liquid filters in Germany. LiqTech PTE Ltd, (“LiqTech Sing”), a 95% owned subsidiary of LiqTech Int. DK, incorporated in Singapore on January 19, 2012, engages in marketing and sale of liquid filters in Singapore and other countries in the area. Provital Solutions AS (“Provital”), a Danish corporation was incorporated on September 1, 2009 and engages in the manufacture of fully automated filtering systems for application within the pool and spa markets, marine applications, and a number of industrial applications within Denmark and international markets. The financial statements include the accounts of Provital from the date of acquisition on July 29, 2014. LiqTech Asia (“LiqTech Asia”), a former 60% owned subsidiary of LiqTech Int. DK, incorporated in South Korea on July 20, 2006, liquidated in March 2015. The accompanying financial statements are unaudited. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at September 30, 2015 and 2014 and for the periods then ended have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s December 31, 2014 audited consolidated financial statements. The results of operations for the periods ended September 30, 2015 and 2014 are not necessarily indicative of the operating results for the full year.
Consolidation, Policy [Policy Text Block]	Consolidation --
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Functional Currency / Foreign currency translation -- September 30, 2015 and 2014. Translation gains and losses are deferred and accumulated as a component of other comprehensive income in stockholders’ equity. Transaction gains and losses that arose from exchange rate fluctuations from transactions denominated in a currency other than the functional currency are included in the statement of operations as incurred.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash -- September 30, 2015 and December 31, 2014.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Accounts Receivable -- The roll forward of the allowance for doubtful accounts for the nine months ended September 30, 2015 and the year ended December 31, 2014 is as follows: 2015 2014 Allowance for doubtful accounts at the beginning of the period $ 1,654,290 $ 608,356 Bad debt expense 35,163 216,919 Amount of receivables written off (211,486 ) (42,117 ) Acquired subsidiary - 951,354 Effect of currency translation (171,132 ) (80,222 ) Allowance for doubtful accounts at the end of the period $ 1,306,835 $ 1,654,290
Inventory, Policy [Policy Text Block]	Inventory --
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment --
Investment, Policy [Policy Text Block]	Long-Term Investments --
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Assets --
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill -- Goodwill is evaluated for impairment annually, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Triggering events that may indicate impairment include, but are not limited to, a significant adverse change in customer demand or business climate that could affect the value of goodwill or a significant decrease in expected cash flows.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition and Sales Incentives -- The Company has received long-term contracts for the installation of various water filtrations systems and grants from Government entities for development and use of silicon carbide membranes in various water filtration and treatment applications. Revenues from long-term contracts and grants are recognized on the percentage-of-completion method, measured by the percentage of Project costs of the long-term contracts and grants include all direct material and labor costs and those indirect costs related to the project. Project costs are capitalized and accreted into cost of sales based on the percentage of the project completed. Should a loss be estimated on an incomplete project it would be recorded in the period in which such a loss is determined. Changes in estimated profitability of a project are recognized in the period in which the revisions are determined. The aggregate of costs incurred and income recognized on incomplete projects are recorded as costs in excess of billings and are shown as a current asset. The aggregate of billings in excess of related costs incurred and income recognized on projects is shown as a current liability. In Denmark, Value Added Tax (“VAT”) of 25% of the invoice amount is collected in respect of the sales of goods on behalf of tax authorities. The VAT collected is not revenue of the Company; instead, the amount is recorded as a liability on the balance sheet until such VAT is paid to the authorities.
Advertising Costs, Policy [Policy Text Block]	Advertising Cost -- September 30, 2015 and 2014, respectively.
Research, Development, and Computer Software, Policy [Policy Text Block]	Research and Development Cost -- September 30, 2015 and 2014 were $ 536,614 and $223,532, respectively, of research and development costs.
Income Tax, Policy [Policy Text Block]	Income Taxes --
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) Per Share --
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock Options --
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments -- ? Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities; ? Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and ? Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, accounts receivable, prepaid expenses, investments, accounts payable, accrued expenses, capital lease obligations and notes payable approximates their recorded values due to their short-term maturities.
Use of Estimates, Policy [Policy Text Block]	Accounting Estimates -- contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements -- In May 2014, the Financial Accounting Standards Board (FASB) issued a new standard to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. generally accepted accounting principles. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. On July 9, 2015, the FASB agreed to delay the effective date by one year. In accordance with the agreed upon delay, the new standard is effective for us beginning in the first quarter of 2018 and we expect to adopt it at that time. The new standard is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. We have not yet selected a transition method nor have we determined the impact of the new standard on our consolidated condensed financial statements. Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company’s present or future financial statements.

Note 1 - Summary of Significa24

Note 1 - Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	2015 2014 Allowance for doubtful accounts at the beginning of the period $ 1,654,290 $ 608,356 Bad debt expense 35,163 216,919 Amount of receivables written off (211,486 ) (42,117 ) Acquired subsidiary - 951,354 Effect of currency translation (171,132 ) (80,222 ) Allowance for doubtful accounts at the end of the period $ 1,306,835 $ 1,654,290

Note 3 - Inventory (Tables)

Note 3 - Inventory (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2015 2014 Furnace parts and supplies $ 414,920 $ 507,849 Raw materials 1,511,854 1,501,050 Work in process 1,406,676 1,326,840 Finished goods and filtration systems 1,641,479 2,028,225 Reserve for obsolescence (513,313 ) (449,098 ) Net Inventory $ 4,461,616 $ 4,914,866

Note 4 - Property and Equipme26

Note 4 - Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful Life 2015 2014 Production equipment 3 - 10 $ 10,581,305 $ 10,792,494 Lab equipment 3 - 10 147,479 160,427 Computer equipment 3 - 5 274,110 288,351 Vehicles 3 41,403 93,477 Furniture and fixture 5 127,277 180,138 Leasehold improvements 10 989,543 1,052,923 12,161,117 12,567,810 Less Accumulated Depreciation (8,426,448 ) (8,043,424 ) Net Property and Equipment $ 3,734,669 $ 4,524,386

Note 5 - Investments at Costs (

Note 5 - Investments at Costs (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	As of September 30, 2015 Level 1 Level 2 Level 3 Investments - - 5,594 Total - - 5,594 As of December 31, 2014 Level 1 Level 2 Level 3 Investments - - 6,085 Total - - 6,085

Note 6 - Definite-life Intang28

Note 6 - Definite-life Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending December 31, Amortization Expenses 2015 $ 1,177 2016 4,707 2017 2,858 2018 2,404 2019 697 Thereafter - $ 11,843

Note 7 - Goodwill (Tables)

Note 7 - Goodwill (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Goodwill [Table Text Block]	September 30, 2015 Goodwill at beginning of period $ 8,460,512 Acquisition of Provital Solutions A/S - Adjustment made to opening goodwill - Effect of currency translation (682,808 ) Goodwill at end of period $ 7,777,704
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill consists of: September 30, 2015 Provital Solutions A/S $ 7,777,704

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year ending December Operating Lease Payments 2015 $ 171,293 2016 661,809 2017 432,462 2018 255,805 2019 - Thereafter - Total Minimum Lease Payments $ 1,521,369
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year Ending December Capital Lease Payments 2015 $ 44,654 2016 192,693 2017 128,833 2018 25,124 2019 - Thereafter - Total minimum lease payments 391,304 Less amount representing interest (28,656 ) Present value of minimum lease payments 362,648 Less current portion (158,954 ) Long-term lease payments $ 203,694

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2015 2014 Vacation accrual $ 5,077 $ 5,077 Allowance for doubtful accounts 14,136 13,955 Reserve for obsolete inventory 108,137 90,605 Net current tax assets $ 127,350 $ 109,637 Business tax credit carryover 25,709 25,709 Deferred compensation 171,615 171,615 Net operating loss carryover 4,705,345 4,001,198 Excess of book over tax depreciation (586,673 ) (583,735 ) Valuation Allowance (133,643 ) (118,328 ) Long term deferred tax asset $ 4,182,353 $ 3,496,459
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2015 2014 Computed tax at expected statutory rate $ (1,085,383 ) $ (1,107,897 ) State and local income taxes, net of federal benefits - (24,703 ) Non-deductible expenses 74,380 52,174 Non-US income taxed at different rates 120,213 107,996 Valuation Allowance 42,364 - Income tax expense (benefit) $ (848,426 ) $ (972,430 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2015 2014 Current income tax expense: Danish $ - $ - Korean - 1,020 Federal - - State - - Current tax (benefit) $ - $ - Book in excess of tax depreciation $ - $ - Net operating loss carryover (831,945 ) (973,450 ) Valuation allowance 42,364 - Reserve for obsolete inventory (58,845 ) - Deferred tax expense (benefit) $ (848,426 ) $ (973,450 ) Total tax expense (benefit) $ (848,426 ) $ (972,430 )

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	For the Three Months Ended September 30 For the Nine Months Ended September 30 2015 2014 2015 2014 Profit (Loss) attributable to LiqTech International Inc. $ 621,438 $ 347,504 $ (2,322,150 ) $ (1,170,068 ) Weighted average number of common shares used in basic earnings per share 39,519,705 35,613,164 39,471,745 30,043,493 Effect of dilutive securities, stock options and warrants 12,081 421,406 - - Weighted average number of common shares and potentially dilutive securities 39,531,786 36,034,570 39,471,745 30,043,493

Note 13 - Stockholders' Equity

Note 13 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Warrants Outstanding Warrants Exercisable Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 1.00 200,000 2.26 $ 1.00 66,667 $ 1.00 $ 1.50 3,874,000 1.26 $ 1.50 3,874,000 $ 1.50 $ 1.65 400,000 3.83 $ 1.65 400,000 $ 1.65 $ 2.70 2,626,000 1.26 $ 2.70 2,626,000 $ 2.70 $ 4.06 125,575 1.44 $ 4.06 125,575 $ 4.06 Total 7,225,575 1.43 $ 1.98 7,092,242 $ 1.99
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	LiqTech International, Inc. Expected term (in years) 3 - 5 Volatility 48.22 Risk free interest rate 0.80% Dividend yield 0%
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Options Outstanding Options Exercisable Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.74 425,000 4.87 $ 0.74 0 $ 0.74 $ 0.75 100,000 4.54 $ 0.75 0 $ 0.75 $ 1.57 100,000 2.04 $ 1.57 33,333 $ 1.57 $ 1.90 388,500 1.33 $ 1.90 259,000 $ 1.90 Total 1,013,500 3.20 $ 1.27 292,333 $ 1.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]	September 30, 2015 Shares Weighted Average Exercise Price Average Remaining Life Weighted Average Intrinsic Value Outstanding at beginning of period 1,960,130 $ 2.55 0.70 $ - Granted 525,000 0.74 - 67,250 Exercised - - - - Forfeited 15,000 1.90 - - Expired 1,456,630 2.79 - - Outstanding at end of period 1,013,500 $ 1.27 3.20 $ 67,250 Vested and expected to vest 1,013,500 $ 1.27 3.20 $ 67,250 Exercisable end of period 292,333 $ 1.86 1.41 $ -

Note 14 - Significant Custome34

Note 14 - Significant Customers / Concentration (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	For the Three Months For the Nine Months Ended September 30, Ended September 30, 2 015 2014 2015 2014 United States and Canada $ 347,359 $ 1,066,463 $ 1,267,975 $ 2,841,932 Australia 98,425 179,981 310,982 264,296 South America 2,400,000 - 2,400,000 16,845 Asia 880,123 696,102 1,122,357 1,191,035 Europe 3,207,290 2,988,860 5,637,439 7,788,487 $ 6,933,197 $ 4,931,406 $ 10,738,753 $ 12,102,595
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Three Months For the Nine Months Ended September 30, Ended September 30, 2015 2014 2015 2014 Ceramic diesel particulate $ 2,277,616 $ 1,519,204 $ 4,184,235 $ 5,137,720 Liquid filters and systems 4,594,755 3,256,689 6,224,223 6,639,362 Kiln furniture 60,826 155,513 330,295 325,513 $ 6,933,197 $ 4,931,406 $ 10,738,753 $ 12,102,595

Note 1 - Summary of Significa35

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
LiqTech International DK [Member] | LiqTech USA [Member]
Percentage of Subsidiary Owned	100.00%		100.00%
LiqTech NA [Member] | LiqTech USA [Member]
Percentage of Subsidiary Owned	10.00%		10.00%			100.00%
LiqTech NA [Member] | LiqTech International AS [Member]
Percentage of Subsidiary Owned							90.00%
LiqTech Germany [Member] | LiqTech International DK [Member]
Percentage of Subsidiary Owned	100.00%		100.00%
LiqTech PTE [Member] | LiqTech International DK [Member]
Percentage of Subsidiary Owned	95.00%		95.00%
LiqTech Asia [Member] | LiqTech International DK [Member]
Percentage of Subsidiary Owned	60.00%		60.00%
Minimum [Member]
Property, Plant and Equipment, Useful Life			3 years
Finite-Lived Intangible Asset, Useful Life			2 years
Maximum [Member]
Property, Plant and Equipment, Useful Life			10 years
Finite-Lived Intangible Asset, Useful Life			10 years
DENMARK
Value Added Tax Of Invoice, Percentage			25.00%
Employee Stock Option [Member]
Allocated Share-based Compensation Expense			$ 112,528	$ 6,439
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense			0	0
Cash, Uninsured Amount	$ 0		0		$ 0
Advertising Expense			30,045	17,120
Research and Development Expense	171,157	$ 83,113	536,614	223,532
Allocated Share-based Compensation Expense	$ 106,448	$ (19,663)	$ 264,094	$ 372,960

Note 1 - Summary of Significa36

Note 1 - Summary of Significant Accounting Policies -Allowance for Doubtful Accounts, Roll Forward (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Allowance for doubtful accounts at the beginning of the period	$ 1,654,290	$ 608,356	$ 608,356
Bad debt expense	35,163	$ 131,111	216,919
Amount of receivables written off	$ (211,486)		(42,117)
Acquired subsidiary			951,354
Effect of currency translation	$ (171,132)		(80,222)
Allowance for doubtful accounts at the end of the period	$ 1,306,835		$ 1,654,290

Note 2 - Related Party Transa37

Note 2 - Related Party Transactions (Details Textual) - USD ($)	Jan. 14, 2014	Mar. 31, 2015	Dec. 31, 2014	Oct. 31, 2014
Board of Directors Chairman [Member]
Payments to Employees	$ 175,000
Officer [Member] | Accounts Payable and Accrued Liabilities [Member] | Advance from Related Party [Member]
Related Party Transaction, Amounts of Transaction		$ 25,000	$ 35,000	$ 25,000

Note 3 - Inventory - Summary of

Note 3 - Inventory - Summary of Inventory (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Furnace parts and supplies	$ 414,920	$ 507,849
Raw materials	1,511,854	1,501,050
Work in process	1,406,676	1,326,840
Finished goods and filtration systems	1,641,479	2,028,225
Reserve for obsolescence	(513,313)	(449,098)
Net Inventory	$ 4,461,616	$ 4,914,866

Note 4 - Property and Equipme39

Note 4 - Property and Equipment (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Depreciation	$ 1,050,690	$ 1,258,479

Note 4 - Property and Equipme40

Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Production Equipment [Member] | Minimum [Member]
Property and equipment	3 years
Production Equipment [Member] | Maximum [Member]
Property and equipment	10 years
Production Equipment [Member]
Production equipment	$ 10,581,305	$ 10,792,494
Lab Equipment [Member] | Minimum [Member]
Property and equipment	3 years
Lab Equipment [Member] | Maximum [Member]
Property and equipment	10 years
Lab Equipment [Member]
Production equipment	$ 147,479	160,427
Computer Equipment [Member] | Minimum [Member]
Property and equipment	3 years
Computer Equipment [Member] | Maximum [Member]
Property and equipment	5 years
Computer Equipment [Member]
Production equipment	$ 274,110	288,351
Vehicles [Member]
Property and equipment	3 years
Production equipment	$ 41,403	93,477
Furniture and Fixtures [Member]
Property and equipment	5 years
Production equipment	$ 127,277	180,138
Leasehold Improvements [Member]
Property and equipment	10 years
Production equipment	$ 989,543	1,052,923
Minimum [Member]
Property and equipment	3 years
Maximum [Member]
Property and equipment	10 years
Production equipment	$ 12,161,117	12,567,810
Less Accumulated Depreciation	(8,426,448)	(8,043,424)
Net Property and Equipment	$ 3,734,669	$ 4,524,386

Note 5 - Investments at Costs41

Note 5 - Investments at Costs (Details Textual) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
LEA Technology [Member]
Other Long-term Investments	$ 5,594	$ 6,085
Other Long-term Investments	$ 5,594	$ 6,085

Note 5 - Investments at Costs -

Note 5 - Investments at Costs - Summary of Level 1-3 Financial Assets and Liabilities (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Investments	$ 0	$ 0
Total	0	0
Fair Value, Inputs, Level 2 [Member]
Investments	0	0
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Investments	5,594	6,085
Total	$ 5,594	$ 6,085

Note 6 - Definite-life Intang43

Note 6 - Definite-life Intangible Assets (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Patents [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Patents [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Patents [Member]
Intangible Assets, Net (Excluding Goodwill)	$ 11,843		$ 16,708
Amortization of Intangible Assets	$ 4,865	$ 6,057
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Intangible Assets, Net (Excluding Goodwill)	$ 11,843		$ 16,708

Note 6 - Definite-life Intang44

Note 6 - Definite-life Intangible Assets - Expected Future Amortization Expense (Details)	Sep. 30, 2015USD ($)
2,015	$ 1,177
2,016	4,707
2,017	2,858
2,018	2,404
2,019	697
	$ 11,843

Note 7 - Goodwill (Details Text

Note 7 - Goodwill (Details Textual)	1 Months Ended
	Dec. 31, 2014USD ($)
Acquired Receivables [Member]
Goodwill, Period Increase (Decrease)	$ 775,788
Long Term Contracts [Member]
Goodwill, Period Increase (Decrease)	196,255
Taxes, Other	$ 135,990

Note 7 - Goodwill - Summary of

Note 7 - Goodwill - Summary of Goodwill (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill at beginning of period	$ 8,460,512
Acquisition of Provital Solutions A/S	0
Adjustment made to opening goodwill	0
Effect of currency translation	(682,808)
Goodwill at end of period	$ 7,777,704

Note 7 - Goodwill - Goodwill (D

Note 7 - Goodwill - Goodwill (Details)	Sep. 30, 2015USD ($)
Provital Solutions AS [Member]
Provital Solutions A/S	$ 7,777,704
Provital Solutions A/S	$ 7,777,704

Note 8 - Lines of Credit (Detai

Note 8 - Lines of Credit (Details Textual) - Sep. 30, 2015	USD ($)	DKK
Provital Solutions AS [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000	DKK 2,000,000
Line of Credit Facility, Maximum Borrowing Capacity	75,000	500,000
Guarantor Obligations, Current Carrying Value	$ 71,000	DKK 473,100

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Capital Lease 1 [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment	$ 9,871
Capital Lease 2 [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment	3,825
Capital Lease 3 [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment	625
Capital Lease 4 [Member] | Capital Lease Obligations [Member]
Debt Instrument, Periodic Payment	563
Assets Held under Capital Leases [Member]
Depreciation	107,375	$ 153,378
Operating Leases, Rent Expense	521,871	539,443
Capital Leased Assets, Gross	1,335,480		$ 1,599,633
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	1,025,125		$ 963,467
Depreciation	1,050,690	1,258,479
Interest Expense, Lessee, Assets under Capital Lease	$ 21,139	$ 30,227

Note 9 - Leases - Future Minimu

Note 9 - Leases - Future Minimum Lease Payments for Non-cancelable Operating Leases (Details)	Sep. 30, 2015USD ($)
2,015	$ 171,293
2,016	661,809
2,017	432,462
2,018	255,805
2,019	0
Thereafter	0
Total Minimum Lease Payments	$ 1,521,369

Note 9 - Leases - Future Mini51

Note 9 - Leases - Future Minimum Capital Lease Payments (Details)	Sep. 30, 2015USD ($)
2,015	$ 44,654
2,016	192,693
2,017	128,833
2,018	25,124
2,019	0
Thereafter	0
Total minimum lease payments	391,304
Less amount representing interest	(28,656)
Present value of minimum lease payments	362,648
Less current portion	(158,954)
Long-term lease payments	$ 203,694

Note 10 - Agreements and Comm52

Note 10 - Agreements and Commitments (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Defined Contribution Plan, Cost Recognized	$ 10,784	$ 12,110

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - Earliest Tax Year [Member]	9 Months Ended
	Sep. 30, 2015
State and Local Jurisdiction [Member]
Open Tax Year	2,011
Foreign Tax Authority [Member] | Danish Ministry of Taxation [Member]
Open Tax Year	2,009
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year	2,011

Note 11 - Income Taxes - Deferr

Note 11 - Income Taxes - Deferred Tax Asset (Liabilities) (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Vacation accrual	$ 5,077	$ 5,077
Allowance for doubtful accounts	14,136	13,955
Reserve for obsolete inventory	108,137	90,605
Net current tax assets	127,350	109,637
Business tax credit carryover	25,709	25,709
Deferred compensation	171,615	171,615
Net operating loss carryover	4,705,345	4,001,198
Excess of book over tax depreciation	(586,673)	(583,735)
Valuation Allowance	(133,643)	(118,328)
Long term deferred tax asset	$ 4,182,353	$ 3,496,459

Note 11 - Income Taxes - Reconc

Note 11 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Computed tax at expected statutory rate	$ (1,085,383)	$ (1,107,897)
State and local income taxes, net of federal benefits		(24,703)
Non-deductible expenses	$ 74,380	52,174
Non-US income taxed at different rates	120,213	$ 107,996
Valuation allowance	42,364
Total tax expense (benefit)	$ (848,426)	$ (972,430)

Note 11 - Income Taxes - Compon

Note 11 - Income Taxes - Components of Income Tax Expense (Benefit) from Continuing Operations (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Danish Ministry of Taxation [Member]
Current income tax expense:
Foreign current income tax expense (benefit)	$ 0	$ 0
National Tax Service [Member]
Current income tax expense:
Foreign current income tax expense (benefit)	0	0
Federal	0	0
State	0	0
Current tax (benefit)	0	0
Book in excess of tax depreciation	0	0
Net operating loss carryover	(831,945)	$ (973,450)
Valuation allowance	42,364
Reserve for obsolete inventory	(58,845)
Deferred tax expense (benefit)	(848,426)	$ (973,450)
Total tax expense (benefit)	$ (848,426)	$ (972,430)

Note 12 - Earnings Per Share (D

Note 12 - Earnings Per Share (Details Textual) - $ / shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,013,500	2,416,630
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	7,225,575	7,425,575
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.74	$ 1.50
Class of Warrant or Right, Exercise Price of Warrants or Rights	1	1.50
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	1.90	3.60
Class of Warrant or Right, Exercise Price of Warrants or Rights	4.06	$ 4.06
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1.27		$ 2.55

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Amounts Used in Computing Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Profit (Loss) attributable to LiqTech International Inc.	$ 621,438	$ 347,504	$ (2,343,881)	$ (1,170,068)
Weighted average number of common shares used in basic earnings per share (in shares)	39,519,705	35,613,164	39,471,745	30,043,493
Effect of dilutive securities, stock options and warrants (in shares)	0	0	0	0
Weighted average number of common shares and potentially dilutive securities (in shares)	39,531,786	36,034,570	39,471,745	30,043,493

Note 13 - Stockholders' Equit59

Note 13 - Stockholders' Equity (Details Textual) - USD ($)	Apr. 14, 2015	Apr. 13, 2015	Jul. 29, 2014	Jul. 28, 2014	Oct. 09, 2013	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Jun. 04, 2015
Director [Member] | Restricted Stock [Member] | Vesting on December 31, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	27,253	33,333									33,333	33,334
Director [Member] | Restricted Stock [Member] | Vesting on December 31, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		33,333									33,334
Director [Member] | Restricted Stock [Member] | Vesting on December 31, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		33,334
Director [Member] | Restricted Stock [Member] | Vesting on December 31, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period											33,333	133,333
Director [Member] | Restricted Stock [Member] | Vesting on December 31, 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period												133,333
Director [Member] | Restricted Stock [Member]
Allocated Share-based Compensation Expense											$ 479,333	$ 426,667
Director [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross	27,253	100,000									100,000	300,000
Stock Issued During Period, Value, Restricted Stock Award, Gross	$ 20,167	$ 75,000									$ 158,000	$ 960,000
Employee Stock Option [Member] | Two Thousand Eleven Stock Options Plan [Member]
Allocated Share-based Compensation Expense									$ 68,317	$ 119,891
Employee Stock Option [Member]
Allocated Share-based Compensation Expense									$ 112,528	6,439
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition									3 years 167 days
Vesting Upon Issuance [Member] | Wolfe Axelrod Weinberger Associates, LLC [Member]
Class of Warrant or Right Vesting Percentage													33.30%
Vesting on June 4, 2016 [Member] | Wolfe Axelrod Weinberger Associates, LLC [Member]
Class of Warrant or Right Vesting Percentage													33.30%
Vesting on June 4, 2017 [Member] | Wolfe Axelrod Weinberger Associates, LLC [Member]
Class of Warrant or Right Vesting Percentage													33.30%
Provital Acquisition [Member]
Stock Issued During Period, Shares, Acquisitions			4,044,782
Warrant [Member]
Allocated Share-based Compensation Expense									$ 5,316
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number						133,333			133,333
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised					1,013,500
Wolfe Axelrod Weinberger Associates, LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights													200,000
Class of Warrant or Right, Exercise Price of Warrants or Rights													$ 1
Craig Hallum Capital Group, LLC [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 1.65
Proceeds from Issuance of Warrants				$ 50
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right				400,000
Warrants Term				5 years
Two Thousand Eleven Stock Options Plan [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options						$ 260,248			$ 260,248
Common Stock, Shares Authorized						100,000,000	100,000,000		100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share						$ 0.001	$ 0.001		$ 0.001		$ 0.001
Common Stock, Shares, Issued						39,532,035	39,404,782		39,532,035		39,404,782
Common Stock, Shares, Outstanding						39,532,035	39,404,782		39,532,035		39,404,782
Stock Issued During Period, Shares, New Issues				8,000,000			47,500
Share Price				$ 1.50
Proceeds from Issuance of Common Stock				$ 10,736,278
Payments of Stock Issuance Costs				$ 1,263,722						1,149,096
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period							47,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price							$ 1.50
Allocated Share-based Compensation Expense						$ 106,448		$ (19,663)	$ 264,094	$ 372,960
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options						$ 374,781			$ 374,781
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares						721,167			721,167
Share Based Compensation Arrangements by Share Based Payment Award Options, Nonvested Weighted Average Exercise Price									$ 1.03
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value						$ 0.52			$ 0.52
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value						$ 67,250			$ 67,250

Note 13 - Stockholders' Equit60

Note 13 - Stockholders' Equity - Warrants Outstanding (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Warrant [Member] | Price Range 1 [Member]
Exercise Price (in dollars per share)	$ 1
Warrants Outstanding (in shares) | shares	200,000
Warrants Weighted Average Remaining Contractual Life	2 years 94 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1
Warrants Exercisable (in shares) | shares	66,667
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 1
Warrant [Member] | Price Range 2 [Member]
Exercise Price (in dollars per share)	$ 1.50
Warrants Outstanding (in shares) | shares	3,874,000
Warrants Weighted Average Remaining Contractual Life	1 year 94 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1.50
Warrants Exercisable (in shares) | shares	3,874,000
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 1.50
Warrant [Member] | Price Range 3 [Member]
Exercise Price (in dollars per share)	$ 1.65
Warrants Outstanding (in shares) | shares	400,000
Warrants Weighted Average Remaining Contractual Life	3 years 302 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1.65
Warrants Exercisable (in shares) | shares	400,000
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 1.65
Warrant [Member] | Price Range 4 [Member]
Exercise Price (in dollars per share)	$ 2.70
Warrants Outstanding (in shares) | shares	2,626,000
Warrants Weighted Average Remaining Contractual Life	1 year 94 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 2.70
Warrants Exercisable (in shares) | shares	2,626,000
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 2.70
Warrant [Member] | Price Range 5 [Member]
Exercise Price (in dollars per share)	$ 4.06
Warrants Outstanding (in shares) | shares	125,575
Warrants Weighted Average Remaining Contractual Life	1 year 160 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 4.06
Warrants Exercisable (in shares) | shares	125,575
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 4.06
Warrant [Member]
Warrants Outstanding (in shares) | shares	7,225,575
Warrants Weighted Average Remaining Contractual Life	1 year 156 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1.98
Warrants Exercisable (in shares) | shares	7,092,242
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 1.99
Price Range 1 [Member]
Exercise Price (in dollars per share)	0.74
Price Range 2 [Member]
Exercise Price (in dollars per share)	0.75
Price Range 3 [Member]
Exercise Price (in dollars per share)	1.57
Price Range 4 [Member]
Exercise Price (in dollars per share)	$ 1.90
Warrants Outstanding (in shares) | shares	1,013,500
Warrants Weighted Average Remaining Contractual Life	255 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1.27
Warrants Exercisable (in shares) | shares	292,333
Warrants Weighted Average Exercisable Exercise Price (in dollars per share)	$ 1.86

Note 13 - Stockholders' Equit61

Note 13 - Stockholders' Equity - Assumptions Used to Calculate the Fair Values of Stock Options (Details)	9 Months Ended
	Sep. 30, 2015
Minimum [Member]
Expected term (in years)	3 years
Maximum [Member]
Expected term (in years)	5 years
Volatility	48.22%
Risk free interest rate	0.80%
Dividend yield	0.00%

Note 13 - Stockholders' Equit62

Note 13 - Stockholders' Equity - Options Outstanding (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Price Range 1 [Member]
Exercise Price (in dollars per share)	$ 0.74
$ (in shares) | shares	425,000
$	4 years 317 days
$ (in dollars per share)	$ 0.74
$ (in shares) | shares	0
$ (in dollars per share)	$ 0.74
Price Range 2 [Member]
Exercise Price (in dollars per share)	$ 0.75
$ (in shares) | shares	100,000
$	4 years 197 days
$ (in dollars per share)	$ 0.75
$ (in shares) | shares	0
$ (in dollars per share)	$ 0.75
Price Range 3 [Member]
Exercise Price (in dollars per share)	$ 1.57
$ (in shares) | shares	100,000
$	2 years 14 days
$ (in dollars per share)	$ 1.57
$ (in shares) | shares	33,333
$ (in dollars per share)	$ 1.57
Price Range 4 [Member]
Exercise Price (in dollars per share)	$ 1.90
$ (in shares) | shares	388,500
$	1 year 120 days
$ (in dollars per share)	$ 1.90
$ (in shares) | shares	259,000
$ (in dollars per share)	$ 1.90
$ (in shares) | shares	1,013,500
$	3 years 73 days
$ (in dollars per share)	$ 1.27
$ (in shares) | shares	292,333
$ (in dollars per share)	$ 1.86

Note 13 - Stockholders' Equit63

Note 13 - Stockholders' Equity - Status of Options Granted and Changes During the Year (Details)	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Shares outstanding at beginning of period (in shares)	1,960,130
Outstanding at beginning of period, weighted average exercise price (in dollars per share) | $ / shares	$ 2.55
Outstanding at beginning of period, average remaining life	255 days
Shares granted (in shares)	525,000
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 0.74
Granted, weighted average intrinsic value | $	$ 67,250
Shares forfeited (in shares)	15,000
Forfeited (in dollars per share) | $ / shares	$ 1.90
Shares expired (in shares)	1,456,630
Expired, weighted average exercise price (in dollars per share) | $ / shares	$ 2.79
Shares outstanding at end of period (in shares)	1,013,500
Outstanding at end of period, weighted average exercise price (in dollars per share) | $ / shares	$ 1.27
Outstanding at end of period, average remaining life	255 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $	$ 67,250
Shares vested and expected to vest (in shares)	1,013,500
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares	$ 1.27
Vested and expected to vest, average remaining life	3 years 73 days
Vested and expected to vest, weighted average intrinsic value | $	$ 67,250
Warrants Exercisable (in shares)	292,333
Exercisable end of period, weighted average exercise price (in dollars per share) | $ / shares	$ 1.86
Exercisable end of period, average remaining life	1 year 149 days

Note 14 - Significant Custome64

Note 14 - Significant Customers / Concentration (Details Textual) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member]	9 Months Ended
	Sep. 30, 2015
Major Customer 1 [Member]
Concentration Risk, Percentage	16.00%
Major Customer 2 [Member]
Concentration Risk, Percentage	12.00%
Major Customer 3 [Member]
Concentration Risk, Percentage	9.00%
Major Customer 4 [Member]
Concentration Risk, Percentage	6.00%
Concentration Risk, Percentage	43.00%

Note 14 - Significant Custome65

Note 14 - Significant Customers / Concentration - Net Sales by Geographical Region (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reportable Geographical Components [Member] | US And Canada [Member]
Net sales	$ 347,359	$ 1,066,463	$ 1,267,975	$ 2,841,932
Reportable Geographical Components [Member] | AUSTRALIA
Net sales	98,425	$ 179,981	310,982	264,296
Reportable Geographical Components [Member] | South America [Member]
Net sales	2,400,000		2,400,000	16,845
Reportable Geographical Components [Member] | Asia [Member]
Net sales	880,123	$ 696,102	1,122,357	1,191,035
Reportable Geographical Components [Member] | Europe [Member]
Net sales	3,207,290	2,988,860	5,637,439	7,788,487
Net sales	$ 6,933,197	$ 4,931,406	$ 10,738,753	$ 12,102,595

Note 14 - Significant Custome66

Note 14 - Significant Customers / Concentration - Sales by Product Line (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Ceramic Diesel Particulate [Member]
Net sales	$ 2,277,616	$ 1,519,204	$ 4,184,235	$ 5,137,720
Liquid Filters [Member]
Net sales	4,594,755	3,256,689	6,224,223	6,639,362
Kiln Furniture [Member]
Net sales	60,826	155,513	330,295	325,513
Net sales	$ 6,933,197	$ 4,931,406	$ 10,738,753	$ 12,102,595

Note 15 - Commitments (Details

Note 15 - Commitments (Details Textual)	Jul. 29, 2014USD ($)shares	Jul. 29, 2014DKKshares
Provital Solutions AS [Member] | Scenario One for Year Ending December 2014 [Member]
Business Acquisition Requirement for Minimum Revenues		DKK 65,000,000
Business Acquisition Requirement for EBITDA		6,500,000
Provital Solutions AS [Member] | Scenario Two for Year Ending December 2014 [Member]
Business Acquisition Requirement for Minimum Revenues		50,000,000
Business Acquisition Requirement for EBITDA		10,000,000
Provital Solutions AS [Member] | Scenario One for Year Ending December 2015 [Member]
Business Acquisition Requirement for Minimum Revenues		120,000,000
Business Acquisition Requirement for EBITDA		12,000,000
Provital Solutions AS [Member] | Scenario Two for Year Ending December 2015 [Member]
Business Acquisition Requirement for Minimum Revenues		80,000,000
Business Acquisition Requirement for EBITDA		16,000,000
Provital Solutions AS [Member] | Scenario One for Year Ending December 2014 and 2015 [Member]
Business Acquisition Requirement for Minimum Revenues		185,000,000
Business Acquisition Catch Up Provisions Minimum EBITDA		18,500,000
Provital Solutions AS [Member] | Scenario Two for Year Ending December 2015 and 2014 [Member]
Business Acquisition Requirement for Minimum Revenues		130,000,000
Business Acquisition Catch Up Provisions Minimum EBITDA		26,000,000
Provital Solutions AS [Member] | For Year Ending December 2016 [Member]
Business Acquisition Requirement for Minimum Revenues		105,000,000
Provital Solutions AS [Member]
Payments to Acquire Businesses, Gross	$ 2,300,000	DKK 12,600,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares	4,044,782	4,044,782
For Year Ending December 2016 [Member]
Business Acquisition Catch Up Provisions Minimum EBITDA | $	$ 21,000,000

Note 16 - Subsequent Events (De

Note 16 - Subsequent Events (Details Textual) - $ / shares	Oct. 13, 2015	Sep. 30, 2015	Dec. 31, 2014
Subsequent Event [Member]
Number of Shares Present or Represented by Proxy	30,851,565
Common Stock, Par or Stated Value Per Share	$ 0.001
Percentage of Common Stock Outstanding	78.00%
Common Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001