LiqTech International (LIQT) 10-K 23 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Mar. 23, 2018	Jun. 30, 2017
Document Information [Line Items]
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)		44,429,264
Entity Public Float			$ 8,716
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Current Assets:
Cash	$ 2,486,199	$ 1,208,650
Accounts receivable, net	1,124,842	1,111,759
Other receivables	636,539	306,177
Cost in excess of billing	490,100	642,700
Inventories	4,661,866	5,174,874
Prepaid expenses	28,151	62,161
Total Current Assets	9,427,697	8,506,321
Property and Equipment, net accumulated depreciation	1,959,205	2,633,558
Other Assets:
Investments at costs	6,001	5,282
Other intangible assets	3,349	5,614
Deposits	283,686	261,553
Total Other Assets	293,036	272,449
Total Assets	11,679,938	11,412,328
Current Liabilities:
Current portion of notes payable		15,034
Current portion of capital lease obligations	26,186	45,883
Accounts payable	1,775,230	2,262,688
Accrued expenses	1,724,986	2,385,586
Billing in excess of cost	306,845	106,375
Accrued income taxes payable	580	580
Deferred revenue / customers deposits	933,994	192,597
Total Current Liabilities	4,767,821	5,008,743
Long-term notes payable, less current portion		39,895
Long-term capital lease obligations, less current portion		93,942
Total Long-Term Liabilities		133,837
Total Liabilities	4,767,821	5,142,580
Commitment and Contingencies See Note 10
Stockholders' Equity:
Series A Mandatory Convertible Preferred stock; par value $0.001, 10,000,000 shares authorized, 2,200,837 and 0 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively	2,201
Common stock; par value $0.001, 100,000,000 shares authorized 44,229,264 and 36,835,514 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	44,430	36,836
Additional paid-in capital	40,457,907	36,084,117
Accumulated deficit	(28,471,696)	(24,011,343)
Deferred compensation	(79,933)	(148,561)
Other comprehensive income, net	(5,040,792)	(5,691,301)
Total Stockholders' Equity	6,912,117	6,269,748
Total Liabilities and Stockholders' Equity	$ 11,679,938	$ 11,412,328

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	2,200,837	0
Preferred stock, shares outstanding (in shares)	2,200,837
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)	44,229,264	36,835,514
Common stock, shares outstanding (in shares)	44,229,264	36,835,514

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net Sales	$ 11,343,177	$ 13,906,394
Cost of Goods Sold	11,136,426	12,473,965
Gross Profit	206,751	1,432,429
Operating Expenses:
Selling expenses	1,944,989	2,164,780
General and administrative expenses	2,153,225	3,997,304
Non-cash compensation expenses	178,944	435,794
Research and development expenses	536,848	626,147
Impairment of goodwill	0	7,343,208
Total Operating Expense	4,814,006	14,567,233
Loss from Operations	(4,607,255)	(13,134,804)
Other Income (Expense)
Interest and other income	1,515	968
Interest expense	(45,888)	(38,945)
Loss on investments		(16,621)
Loss on currency transactions	(102,470)	(9,555)
Loss on sale of fixed assets	(24,065)
Total Other Income (Expense)	(170,908)	(64,153)
Loss Before (Income) Taxes	(4,778,163)	(13,198,957)
Income Tax Expense (Benefit)	(317,810)	3,219,677
Net Loss	$ (4,460,353)	$ (16,418,634)
Basic Loss Per Share (in dollars per share)	$ (0.11)	$ (0.45)
Weighted Average Common Shares Outstanding (in shares)	41,595,856	36,835,514
Diluted Loss Per Share (in dollars per share)	$ (0.11)	$ (0.45)
Weighted Average Common Shares Outstanding Assuming Dilution (in shares)	41,595,856	36,835,514

Consolidated Statements of Othe

Consolidated Statements of Other Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net Loss	$ (4,460,353)	$ (16,418,634)
Currency Translation, Net	650,509	(314,696)
Other Comprehensive Loss	$ (3,809,844)	$ (16,733,330)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($)	Convertible Preferred Stock [Member]Preferred Stock [Member]	Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]	Issuance 1 [Member]Board of Directors Chairman [Member]Common Stock [Member]	Issuance 1 [Member]Board of Directors Chairman [Member]Additional Paid-in Capital [Member]	Issuance 1 [Member]Board of Directors Chairman [Member]Deferred Compensation, Share-based Payments [Member]	Issuance 2 [Member]Board of Directors Chairman [Member]Common Stock [Member]	Issuance 2 [Member]Board of Directors Chairman [Member]Additional Paid-in Capital [Member]	Issuance 2 [Member]Board of Directors Chairman [Member]Deferred Compensation, Share-based Payments [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Deferred Compensation, Share-based Payments [Member]	Total
Balance (in shares) at Dec. 31, 2015									0	39,532,035
Balance at Dec. 31, 2015									$ 0	$ 39,532	$ 36,087,808	$ (7,592,709)	$ (5,376,605)	$ (590,742)
Warrants issued for services											33,000			(33,000)
Cancellation of common shares held in escrow (in shares)										(2,696,521)					(2,696,521)
Cancellation of common shares held in escrow										$ (2,696)	2,696
Forfeiture of Stock Based Compensation											(39,387)			39,387
Stock based compensation expenses recognized for the year														435,794
Currency Translation, Net													(314,696)		$ (314,696)
Net Loss												(16,418,634)			(16,418,634)
Balance (in shares) at Dec. 31, 2016									0	36,835,514
Balance at Dec. 31, 2016									$ 0	$ 36,836	36,084,117	(24,011,343)	(5,691,301)	(148,561)
Forfeiture of Stock Based Compensation											(19,683)			19,684
Stock based compensation expenses recognized for the year														178,944
Currency Translation, Net													650,509		650,509
Net Loss												(4,460,353)			$ (4,460,353)
Common shares issued for cash at $0.25 per share, net of offering cost of $65,000, May 2017 (in shares)										7,300,000
Common shares issued for cash at $0.25 per share, net of offering cost of $65,000, May 2017										$ 7,300	1,752,700
Mandatory Convertible Preferred shares issued for cash at $1.20 per share, net of offering cost of $127,736, November 2017, Convertible into 8,803,348 common shares (in shares)	2,200,837
Mandatory Convertible Preferred shares issued for cash at $1.20 per share, net of offering cost of $127,736, November 2017, Convertible into 8,803,348 common shares	$ 2,201	$ 2,511,067
Common shares issued, for services provided (in shares)			93,750			200,000
Common shares issued, for services provided			$ 94	$ 59,906	$ (60,000)	$ 200	$ 69,800	$ (70,000)
Balance (in shares) at Dec. 31, 2017									2,200,837	44,429,264
Balance at Dec. 31, 2017									$ 2,201	$ 44,430	$ 40,457,907	$ (28,471,696)	$ (5,040,792)	$ (79,933)

Consolidated Statement of Stoc7

Consolidated Statement of Stockholders' Equity (Parentheticals)	12 Months Ended
	Dec. 31, 2017USD ($)$ / sharesshares
Common Stock [Member] | Issuance 1 [Member] | Board of Directors Chairman [Member]
Shares issued, price per share (in dollars per share)	$ 0.64
Common Stock [Member] | Issuance 2 [Member] | Board of Directors Chairman [Member]
Shares issued, price per share (in dollars per share)	0.35
Common Stock [Member]
Shares issued, price per share (in dollars per share)	$ 0.25
Shares issued, offering cost | $	$ 65,000
Preferred Stock [Member] | Convertible Preferred Stock [Member]
Shares issued, price per share (in dollars per share)	$ 1.20
Shares issued, offering cost | $	$ 127,736
Convertible Preferred shares, convertible securities (in shares) | shares	8,803,348
Shares issued, offering cost | $	$ 192,736

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net Loss	$ (4,460,353)	$ (16,418,634)
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Depreciation and amortization	939,500	1,378,277
Non-cash compensation	178,944	435,794
Bad debt expense	(102,189)	1,437,949
Reserve for obsolete inventory	(206,155)	802,966
Change in deferred tax asset / liability		3,856,619
Loss on sale of equipment	24,065
Impairment of goodwill	0	7,343,208
Loss on investment		16,556
Changes in assets and liabilities:
(Increase) decrease in restricted cash		292,826
(Increase) decrease in accounts receivable	(241,256)	841,918
(Increase) decrease in inventory	564,359	(1,147,934)
(Increase) decrease in prepaid expenses/deposits	41,314	(57,666)
Increase (decrease) in accounts payable	(487,458)	(1,192,386)
Increase (decrease) in accrued expenses	80,797	1,018,643
Increase (decrease) long-term contracts	353,070	1,807,658
Total Adjustments	1,144,990	16,834,428
Net Cash Provided (Used) by Operating Activities	(3,315,362)	415,794
Cash Flows from Investing Activities:
Purchase of property and equipment	(137,674)	(373,740)
Proceeds from sale/recovery of property and equipment	14,001
Net Cash (Used) by Investing Activities	(123,673)	(373,740)
Cash Flows from Financing Activities:
Net payments on capital lease obligation	(113,639)	(175,905)
Payments on loans payable	(54,929)	(26,714)
Proceeds from issuance of mandatory convertible preferred stock	2,641,004
Payment of stock offering costs	(192,736)
Proceeds from issuance of common stock	1,825,000
Net Cash Provided (Used) by Financing Activities	4,104,700	(202,619)
Gain (Loss) on Currency Translation	611,884	(1,376)
Net Increase (Decrease) in Cash and Cash Equivalents	1,277,549	(161,941)
Cash and Cash Equivalents at Beginning of Period	1,208,650	1,370,591
Cash and Cash Equivalents at End of Period	2,486,199	1,208,650
Supplemental Disclosures of Cash Flow Information:
Interest	45,888	38,945
Income Taxes	580	590
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	178,944	435,794
Total	178,944	435,794
Employee Stock Option [Member]
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Non-cash compensation	70,477	307,493
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	70,477	307,493
Restricted Stock [Member]
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Non-cash compensation	90,833	77,667
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	90,833	77,667
Warrants Issued for Services [Member]
Adjustments to reconcile net (loss) to net cash provided (used) by operations:
Non-cash compensation	17,634	50,634
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Non-cash compensation	$ 17,634	$ 50,634

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 1 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, ceramic silicon carbide liquid and diesel particulate air filters 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 organized in July 2004, LiqTech USA, a Delaware corporation and a wholly-owned subsidiary of Parent formed in May 2011. LiqTech International AS, a Danish corporation, incorporated on January 15, 2000 ( 100% LiqTech NA, Inc. (“LiqTech NA”), incorporated in Delaware on July 1, 2005, 100% LiqTech Systems AS, a Danish Corporation ("LiqTech Systems") (Formerly Provital Solutions A/S) was incorporated on September 1, 2009 LiqTech Germany (“LiqTech Germany”) a 100% December 9, 2011, completed during 2018. LiqTech PTE Ltd, (“LiqTech Sing”) a 95% January 19, 2012, 2018. Consolidation -- Functional Currency / Foreign currency translation -- The functional currency of LiqTech International, Inc., LiqTech USA, Inc. and LiqTech NA is the U.S. Dollar. The Functional Currency of LiqTech Int. DK and LiqTech Systems AS is the Danish Krone (“DKK”), the functional currency of LiqTech Germany is the Euro and the functional currency of LiqTech Singapore is the Singapore Dollar. The Company’s reporting currency is U.S. Dollar for the purpose of these consolidated financial statements. The foreign subsidiaries balance sheet accounts are translated into U.S. Dollars at the period-end exchange rates and all revenue and expenses are translated into U.S. Dollars at the average exchange rates prevailing during the years ended December 31, 2017 2016. Cash, Cash Equivalents and Restricted Cash -- three no December 31, 2017 December 31, 2016. Accounts Receivable -- The roll forward of the allowance for doubtful accounts for the year ended December 31, 201 7 December 31, 2016 2017 2016 Allowance for doubtful accounts at the beginning of the period $ 2,128,452 $ 1,087,871 Bad debt expense (102,189 ) 1,437,949 R eceivables written off during the periods (1,678,856 ) (252,792 ) Effect of currency translation 313,174 (144,576 ) Allowance for doubtful accounts at the end of the period $ 660,581 $ 2,128,452 Inventory -- first first Property and Equipment -- three ten 5 Long-Term Investments -- may may not may Intangible Assets -- 350, two ten Goodwill -- Goodwill is evaluated for impairment annually, and whenever events or changes in circumstances indicate the carrying value of goodwill may not may not Revenue Recognition and Sales Incentives -- No. 101, 101 605 The Company has received long-term contracts for grants from government entities for development and use of silicon carbide membranes in various water filtration and treatment applications and historically in the installation of various water filtrations systems. Revenues from long-term contracts and grants are recognized on the percentage-of-completion method, measured by the percentage of project costs incurred to date to estimated total project costs for each long-term contract or grant multiplied by the long-term contract or grant income on a project by project basis. This method is used because management considers costs incurred to be the best available measure of progress on contracts in process. 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% not Advertising Cost -- $16,350 $14,504, December 31, 2017 2016, Research and Development Cost -- December 31, 2017 2016 $536,848, $626,147, Income Taxes -- 740 Income (Loss) Per Share -- 260 not Stock Options and Awards -- 13. 718, $178,944 $435,794 $27,270 $26,407 December 31, 2017 2016, Fair Value of Financial Instruments -- 820. three ● Level 1. liabilities; ● Level 2. ● Level 3. no 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 -- Recent Accounting Pronouncements -- On May 28, 2014, 2014 09, December 15, 2017. not not not On February 25, 2016, 2016 02, The standard will be effective for public companies with interim and annual periods beginning after December 15, 2018. accounted for similarly to how capital leases are currently accounted for, unless certain criteria are met. We have begun evaluating the impact this standard will have on our lease accounting. The standard will require us to capitalize a right of use asset and lease liability equal to the present value of the future minimum lease payments disclosed in Note 9. Other recent accounting pronouncements issued by the FASB did not not ’s present or future financial statements.

Note 2 - Going Concern

Note 2 - Going Concern	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	NOTE 2 The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America, which contemplate continuation of the Company as a going concern. However, the Company has limited cash and incurred significant recent losses. These factors raise substantial doubt about the ability of the Company to continue as a going concern. There is no not

Note 3 - Inventory

Note 3 - Inventory	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 3 - INVENTORY Inventory consisted of the following at December 31, 201 7 December 31, 2016: 201 7 201 6 Furnace parts and supplies $ 400,589 $ 336,799 Raw materials 1,260,209 1,216,098 Work in process 2,123,418 2,499,242 Finished goods and filtration systems 2,297,743 2,544,080 Reserve for obsolescence (1,420,093 ) (1,421,345 ) Net Inventory $ 4,661,866 $ 5,174,874 A portion of the inventory is held as collateral on a lines and credit and guarantees with financial institutions. See Note 8.

Note 4 - Property and Equipment

Note 4 - Property and Equipment	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 4 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following at December 31, 201 7 December 31, 2016: Useful Life 201 7 2016 Production equipment 3 - 10 $ 10,114,398 $ 10,370,462 Lab equipment 3 - 10 87,094 76,658 Computer equipment 3 - 5 204,553 185,652 Vehicles 3 - 5 75,312 39,090 Furniture and fixture 5 106,047 146,453 Leasehold improvements 10 1,076,731 955,563 11,664,135 11,773,878 Less Accumulated Depreciation (9,704,930 ) (9,140,320 ) Net Property and Equipment $ 1,959,205 $ 2,633,558 Depreciation expense amounted to $ 937,235 $1,373,505, December 31, 2017 2016, 8.

Note 5 - Investments at Cost

Note 5 - Investments at Cost	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE 5 – INVESTMENTS AT COST The following tables summarize Level 1, 2 3 As of December 31, 2017 Level 1 Level 2 Level 3 Investments - - 6,001 Total - - 6,001 As of December 31, 201 6 Level 1 Level 2 Level 3 Investments - - 5,282 Total - - 5,282 At December 31, 201 7, $6,001 $6,001 At December 31, 2016, $5,282 $5,282

Note 6 - Definite-life Intangib

Note 6 - Definite-life Intangible Assets	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 6 - DEFINITE-LIFE INTANGIBLE ASSETS At December 31, 201 7 December 31, 2016, $3,349 $5,614, two ten December 31, 2017 2016 $2,265 $4,772, Year ending December 31, Amortization Expenses 2018 2,579 2019 770 Thereafter - $ 3,349

Note 7 - Goodwill

Note 7 - Goodwill	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Goodwill Disclosure [Text Block]	NOTE 7 - GOODWILL Goodwill resulted from the acquisition of LiqTech Systems A/S (Formerly Provital Solutions A/S) and was impaired during 2016. fourth may not may not $0 $7,343,208 December 31, 2017 2016, not 2016 fourth

Note 8 - Lines of Credit

Note 8 - Lines of Credit	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 8 - LINES OF CREDIT 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 guarantee line of DKK 94,620 15,242 December 31, 2017) December 31, 2017, 94,620 $15,242 no

Note 9 - Leases

Note 9 - Leases	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE 9 - LEASES Operating Leases -- March 2021, August 2018, May 2018. The future minimum lease payments for non-cancelable operating leases having remaining terms in excess of one December 31, 2017 Year ending December 31, Lease Payments 2018 388,421 2019 179,094 2020 182,676 2021 30,546 Thereafter - Total Minimum Lease Payments $ 780,737 Lease expense charged to operations was $ 651,032 $645,817, December 31, 2017, 2016. Capital Leases -- $671 $604 July 2018. December 31, 2017 December 31, 2016, $1,328,672 $1,240,358, $1,301,870 $1,126,550, During the years ended December 31, 201 7 2016, $39,623, $130,025, December 31, 2017 2016, $6,290 $16,758, Future minimum capital lease payments are as follows for the years ended December 31: Year ending December 31, Lease Payments 2018 26,949 Thereafter - Total minimum lease payments 26,949 Less amount representing interest (763 ) Present value of minimum lease payments 26,186 Less Current Portion (26,186 ) $ -

Note 10 - Agreements, Commitmen

Note 10 - Agreements, Commitments and Commitments	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 1 0 - AGREEMENTS, COMMITMENTS AND CONTINGENCIES 401 -- LiqTech NA has a 401 December 31, 2017 2016, $11,691 $11,347, Contingencies -- From time to time, we may On September 9, 2014, 60% 40% 750,000 Our lawyer expect that the next hearing scheduled for March14th, 2018 no not On December 20, 2017, $1,098,678 The customer is disputing the system complies with the contact based on testing inputs to the system outside the parameters of the contract. The Company has completed the installation of the system and tested the system and contends it is compliance with the contract’s requirements. The company currently plans to vigorously pursue collection of the remaining balance owed on the contract, through legal action if required. The company cannot reasonably estimate the outcome of these uncertainties. No December 31, 2017, $0 $809,917 2017, $402,653, 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 guarantee line of DKK 94,620 $15,242 December 31, 2017) December 31, 2017, had DKK 94,620 $15,242 no

Note 11 - Income Taxes

Note 11 - Income Taxes	12 Months Ended
	Dec. 31, 2017
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, ’s future earnings, and other future events, the effects of which cannot be determined. In accordance with prevailing accounting guidance, the Company is required to recognize and disclose any income tax uncertainties. The guidance provides a two first not second 50%, As of December 31, 201 7, $13,683,343 for U.S. federal tax purposes expiring through 2037; $6,517,915 for Danish tax purposes, which do not $499,020 for German tax purposes, which do not $648,358 for Singapore tax purposes which do not As of December 31, 2017 December 31, 2016, $2,833,000 $3,542,000 $1,850,000 $1,095,000 $139,000 $122,000 $110,000 $97,000 not not The change in the valuation allowance for the year ended December 31, 2017 709,000 $755,000, $17,000 $13,000 December 31, 2016 $3,542,000 , $1,095,000, $4,000 $12,000 The Company is not 7 The temporary differences, tax credits and carry forwards gave rise to the following deferred tax asset (liabilities) at December 31, 201 7 December 31, 2016: 2017 2016 Vacation accrual $ 2,900 $ 5,450 Allowance for doubtful accounts 743 1,202 Reserve for obsolete inventory 305,425 200,118 Business tax credit carryover 30,935 30,935 Deferred Compensation 16,787 8,500 Net operating loss carryover 4,646,434 4,906,974 Excess of book over tax depreciation (71,116 ) (296,227 ) Valuation allowance (4,932,108 ) (4,856,952 ) Long term deferred tax asset $ - $ - 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 years ended December 31, 2017 2016: 2017 2016 Computed tax at expected statutory rate $ (1,624,575 ) $ (4,487,649 ) State and local income taxes, net of federal benefit (4,350 ) (3,721 ) Non-US income taxed at different rates 256,207 1,325,180 Effect of change in corporate tax rate 994,336 (21,489 ) Non-deductible impairment of goodwill - 1,615,506 Non-deductible deferred compensation - 148,170 Non-deductible expenses 4,664 4,242 Valuation allowance 75,156 4,739,806 Other (19,248 ) (100,368 ) Income tax expense (benefit) $ (317,810 ) $ 3,219,677 The components of income tax expense (benefit) from continuing operations for the years ended December 31, 201 7 2016 2017 2016 Current income tax expense: Danish $ (317,810 ) $ (329,816 ) Federal - - State - 580 Current tax (benefit) $ (317,810 ) $ (329,236 ) Book in excess of tax depreciation $ (225,111 ) $ (158,684) Allowance for doubful accounts 459 12,705 Net operating loss carryover 260,540 (1,000,650 ) Valuation allowance 75,156 4,756,011 Deferred compensation (8,287 ) (8,500 ) Accrued vacation 2,550 (1,517 ) Reserve for obsolete inventory (105,307 ) (50,452 ) Deferred tax expense (benefit) $ - $ 3,548,913 Total tax expense (benefit) $ (317,810 ) $ 3,219,677 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 2013 no 2013

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 12 - EARNINGS 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 year ended December 31, 2017 2016: For the Year Ended December 31 2017 2016 Net Loss attributable to LiqTech International Inc. $ (4,460,353 ) $ (16,418,634 ) Weighted average number of common shares used in basic earnings per share 41,595,856 36,835,514 Effect of dilutive securities, stock options and warrants - - Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share 41,595,856 36,835,514 For the year ended December 31, 201 7, 455,000 $0.74 $1.01 400,000 $1.65 not 2,200,837 8,803,348 no May 14, 2018. 2,200,837 not December 31, 2017 For the year ended December 31, 2016, 868,000 $0.74 $1.90 825,575 warrants outstanding to purchase common stock of Parent at $0.81 $4.06 not

Note 13 - Stockholders' Equity

Note 13 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 13 - STOCKHOLDERS' EQUITY Common Stock -- Parent has 100,000,000 $0.001 December 31, 2017 2016, 44,229,264 36,835,514 Voting -- one not Dividends -- may may Liquidation Rights -- Other Matters -- no no Preferred Stock -- one may may Parent has 10,000,000 $0.001 As of December 31, 2017 2016, 2,200,837 and 0 issued and outstanding. Each preferred shares is convertible into 4 8,803,348 no May 14, 2018. Common Stock Cancelation On December 31, 2016, 2,696,521 two 2/3 2014, 2015 2016 Stock Issuance On November 22 , 2017, 2,200,837 1 4 8,803,348 $1.20 $2,641,004, $127,736. On May 19, 2017, 7,300,000 $0.25 $1,825,000 , net of stock offering cost of $65,000, On January 2, 2017, 93,750 $60,000 On August 11, 2017, 200,000 $70,000 As of December 31, 2017 2016, $90,833 $77,667 Common Stock Purchase Warrants A summary of the status of the warrants outstanding at December 31, 2017 Warrants Outstanding Warrants Exercisable Exercise Prices Number Outstanding Weighted Average Weighted Average Exercise Price Number Exercisable Weighted Average $ 1.65 400,000 1.5 7 $ 1.65 400,000 $ 1.65 Total 4 00,000 1. 57 $ 1.65 400,000 $ 1. 65 At December 31, 2017 2016, 0 66,667 $17,634 $50,634 December 31, 2017 2016 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 February 15, 2016, 100,000 $0.81 The Company valued the warrants at $33,000 Expected term (in years) 1.9 Volatility 76.92 % Risk free interest rate 0.64 % Dividend yield 0 % Stock Options In August 2011, ’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 Company. At December 31, 2017, 455,000 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 Company recognized stock based compensation expense related to the options of $70,477 $307,493 December 31, 2017 2016, December 31, 2017, $15,767 August 14, 2018. A summary of the status of the options outstanding under the Company ’s stock option plans at December 31, 2017 Options Outstanding Options Exercisable Exercise Prices Number Outstanding Weighted Average Life (years) Weighted Average Number Exercisable Weighted Average $ 0.74 325,000 2.62 $ 0.74 216,667 $ 0.74 $ 1.01 130,000 7.97 $ 1.01 130,000 $ 1.01 Total 455,000 4.15 $ 0.82 346,667 $ 0.84 A summary of the status of the options at December 31, 2017, December 31, 2017 Shares Weighted Average Average Remaining Weighted Average Outstanding at beginning of period 868,000 $ 1.10 3.41 $ - Granted - - - - Exercised - - - - Forfeited (175,000 ) 0.75 - - Expired (238,000 ) 1.90 - - Outstanding at end of period 455,000 $ 0.82 4.15 $ - Vested and expected to vest 455,000 $ 0.82 4.15 $ - Exercisable end of period 346,667 $ 0.84 4.63 $ - At December 31, 201 7, 108,333 $0.74 $0.46, $5,256, 0.5 The total intrinsic value of options at December 31, 2016 $0. Intrinsic value is measured using the fair market value at the date of exercise (for shares exercised) or at December 31, 2017 (

Note 14 - Significant Customers

Note 14 - Significant Customers / Concentration	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 14 - SIGNIFICANT CUSTOMERS / CONCENTRATION For the year ended December 31, 2017, four 16%, 10%, 7% 5%, 38% December 31, 2016, four 33%, 25%, 5% 4%, 67% The Company sells products throughout the world; sales by geographical region are as follows for the year ended December 31, 2017 2016: For the Year Ended December 31 2017 201 6 United States and Canada $ 1,115,447 $ 689,766 Australia 640,322 387,807 South America 89,438 115,675 Asia 1,608,822 1,105,272 Europe 7,889,148 11,607,874 $ 11,343,177 $ 13,906,394 The Company ’s sales by product line are as follows for the year ended December 31, 2017 2016: For the Year Ended December 31 2017 201 6 Ceramic diesel particulate $ 7,230,416 $ 5,820,793 Liquid filters and systems 3,987,424 7,731,079 Kiln furniture 125,337 354,522 $ 11,343,177 $ 13,906,394 As of December 31, 2017, 87% 13% December 31, 2016, 85% 15%

Note 15 - Subsequent Events

Note 15 - Subsequent Events	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 15 - SUBSEQUENT EVENT The Company ’s management reviewed material events through March 23, 2018.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	a. Valuation and Qualifying Accounts for the years ended December 31, 2017 December 31, 2016. Bad debt expense (102,189 ) 1,437,949 Reserve for obsolete inventory (206,155 ) 802,966 Balance Beginning of Year Charges to Costs and Expenses Deductions (1) Balance End of Year Year Ended December 31, 201 7 Allowance for inventory obsolescence $ 1,421,345 $ (206,155 ) $ 193,884 $ 1,409,074 Allowance for doubtful accounts 2,128,452 (102,189 ) (1,365,682 ) 660,581 Totals $ 3,549,797 $ (308,344 ) $ (1,171,798 ) $ 2,069,655 Balance Beginning of Year Charges to Costs and Expenses Deductions (1) Balance End of Year Year Ended December 31, 2016 Allowance for inventory obsolescence $ 606,504 $ 802,966 $ 11,875 $ 1,421,345 Allowance for doubtful accounts 1,087,871 1,437,949 (397,368 ) 2,128,452 Totals $ 1,694,375 $ 2,262,907 $ (407,485 ) $ 3,549,797 201 7 201 6 Allowance for doubtful accounts at the beginning of the period $ 2,128,452 $ 1,087,871 Bad debt expense (102,189 ) 1,437,949 R eceivables written off during the period (1,678,856 ) (252,792 ) Effect of currency translation 313,174 (144,576 ) Allowance for doubtful accounts at the end of the period $ 660,581 $ 2,128,452 ( 1 .

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
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, ceramic silicon carbide liquid and diesel particulate air filters 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 organized in July 2004, LiqTech USA, a Delaware corporation and a wholly-owned subsidiary of Parent formed in May 2011. LiqTech International AS, a Danish corporation, incorporated on January 15, 2000 ( 100% LiqTech NA, Inc. (“LiqTech NA”), incorporated in Delaware on July 1, 2005, 100% LiqTech Systems AS, a Danish Corporation ("LiqTech Systems") (Formerly Provital Solutions A/S) was incorporated on September 1, 2009 LiqTech Germany (“LiqTech Germany”) a 100% December 9, 2011, completed during 2018. LiqTech PTE Ltd, (“LiqTech Sing”) a 95% January 19, 2012, 2018.
Consolidation, Policy [Policy Text Block]	Consolidation --
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Functional Currency / Foreign currency translation -- The functional currency of LiqTech International, Inc., LiqTech USA, Inc. and LiqTech NA is the U.S. Dollar. The Functional Currency of LiqTech Int. DK and LiqTech Systems AS is the Danish Krone (“DKK”), the functional currency of LiqTech Germany is the Euro and the functional currency of LiqTech Singapore is the Singapore Dollar. The Company’s reporting currency is U.S. Dollar for the purpose of these consolidated financial statements. The foreign subsidiaries balance sheet accounts are translated into U.S. Dollars at the period-end exchange rates and all revenue and expenses are translated into U.S. Dollars at the average exchange rates prevailing during the years ended December 31, 2017 2016.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash -- three no December 31, 2017 December 31, 2016.
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 year ended December 31, 201 7 December 31, 2016 2017 2016 Allowance for doubtful accounts at the beginning of the period $ 2,128,452 $ 1,087,871 Bad debt expense (102,189 ) 1,437,949 R eceivables written off during the periods (1,678,856 ) (252,792 ) Effect of currency translation 313,174 (144,576 ) Allowance for doubtful accounts at the end of the period $ 660,581 $ 2,128,452
Inventory, Policy [Policy Text Block]	Inventory -- first first
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment -- three ten 5
Investment, Policy [Policy Text Block]	Long-Term Investments -- may may not may
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Assets -- 350, two ten
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 may not
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition and Sales Incentives -- No. 101, 101 605 The Company has received long-term contracts for grants from government entities for development and use of silicon carbide membranes in various water filtration and treatment applications and historically in the installation of various water filtrations systems. Revenues from long-term contracts and grants are recognized on the percentage-of-completion method, measured by the percentage of project costs incurred to date to estimated total project costs for each long-term contract or grant multiplied by the long-term contract or grant income on a project by project basis. This method is used because management considers costs incurred to be the best available measure of progress on contracts in process. 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% not
Advertising Costs, Policy [Policy Text Block]	Advertising Cost -- $16,350 $14,504, December 31, 2017 2016,
Research, Development, and Computer Software, Policy [Policy Text Block]	Research and Development Cost -- December 31, 2017 2016 $536,848, $626,147,
Income Tax, Policy [Policy Text Block]	Income Taxes -- 740
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) Per Share -- 260 not
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock Options and Awards -- 13. 718, $178,944 $435,794 $27,270 $26,407 December 31, 2017 2016,
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments -- 820. three ● Level 1. liabilities; ● Level 2. ● Level 3. no 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 --
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements -- On May 28, 2014, 2014 09, December 15, 2017. not not not On February 25, 2016, 2016 02, The standard will be effective for public companies with interim and annual periods beginning after December 15, 2018. accounted for similarly to how capital leases are currently accounted for, unless certain criteria are met. We have begun evaluating the impact this standard will have on our lease accounting. The standard will require us to capitalize a right of use asset and lease liability equal to the present value of the future minimum lease payments disclosed in Note 9. Other recent accounting pronouncements issued by the FASB did not not ’s present or future financial statements.

Note 1 - Summary of Significa26

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	2017 2016 Allowance for doubtful accounts at the beginning of the period $ 2,128,452 $ 1,087,871 Bad debt expense (102,189 ) 1,437,949 R eceivables written off during the periods (1,678,856 ) (252,792 ) Effect of currency translation 313,174 (144,576 ) Allowance for doubtful accounts at the end of the period $ 660,581 $ 2,128,452

Note 3 - Inventory (Tables)

Note 3 - Inventory (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	201 7 201 6 Furnace parts and supplies $ 400,589 $ 336,799 Raw materials 1,260,209 1,216,098 Work in process 2,123,418 2,499,242 Finished goods and filtration systems 2,297,743 2,544,080 Reserve for obsolescence (1,420,093 ) (1,421,345 ) Net Inventory $ 4,661,866 $ 5,174,874

Note 4 - Property and Equipme28

Note 4 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful Life 201 7 2016 Production equipment 3 - 10 $ 10,114,398 $ 10,370,462 Lab equipment 3 - 10 87,094 76,658 Computer equipment 3 - 5 204,553 185,652 Vehicles 3 - 5 75,312 39,090 Furniture and fixture 5 106,047 146,453 Leasehold improvements 10 1,076,731 955,563 11,664,135 11,773,878 Less Accumulated Depreciation (9,704,930 ) (9,140,320 ) Net Property and Equipment $ 1,959,205 $ 2,633,558

Note 5 - Investments at Cost (T

Note 5 - Investments at Cost (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	As of December 31, 2017 Level 1 Level 2 Level 3 Investments - - 6,001 Total - - 6,001 As of December 31, 201 6 Level 1 Level 2 Level 3 Investments - - 5,282 Total - - 5,282

Note 6 - Definite-life Intang30

Note 6 - Definite-life Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending December 31, Amortization Expenses 2018 2,579 2019 770 Thereafter - $ 3,349

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year ending December 31, Lease Payments 2018 388,421 2019 179,094 2020 182,676 2021 30,546 Thereafter - Total Minimum Lease Payments $ 780,737
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]	Year ending December 31, Lease Payments 2018 26,949 Thereafter - Total minimum lease payments 26,949 Less amount representing interest (763 ) Present value of minimum lease payments 26,186 Less Current Portion (26,186 ) $ -

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2017 2016 Vacation accrual $ 2,900 $ 5,450 Allowance for doubtful accounts 743 1,202 Reserve for obsolete inventory 305,425 200,118 Business tax credit carryover 30,935 30,935 Deferred Compensation 16,787 8,500 Net operating loss carryover 4,646,434 4,906,974 Excess of book over tax depreciation (71,116 ) (296,227 ) Valuation allowance (4,932,108 ) (4,856,952 ) Long term deferred tax asset $ - $ -
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2017 2016 Computed tax at expected statutory rate $ (1,624,575 ) $ (4,487,649 ) State and local income taxes, net of federal benefit (4,350 ) (3,721 ) Non-US income taxed at different rates 256,207 1,325,180 Effect of change in corporate tax rate 994,336 (21,489 ) Non-deductible impairment of goodwill - 1,615,506 Non-deductible deferred compensation - 148,170 Non-deductible expenses 4,664 4,242 Valuation allowance 75,156 4,739,806 Other (19,248 ) (100,368 ) Income tax expense (benefit) $ (317,810 ) $ 3,219,677
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2017 2016 Current income tax expense: Danish $ (317,810 ) $ (329,816 ) Federal - - State - 580 Current tax (benefit) $ (317,810 ) $ (329,236 ) Book in excess of tax depreciation $ (225,111 ) $ (158,684) Allowance for doubful accounts 459 12,705 Net operating loss carryover 260,540 (1,000,650 ) Valuation allowance 75,156 4,756,011 Deferred compensation (8,287 ) (8,500 ) Accrued vacation 2,550 (1,517 ) Reserve for obsolete inventory (105,307 ) (50,452 ) Deferred tax expense (benefit) $ - $ 3,548,913 Total tax expense (benefit) $ (317,810 ) $ 3,219,677

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	For the Year Ended December 31 2017 2016 Net Loss attributable to LiqTech International Inc. $ (4,460,353 ) $ (16,418,634 ) Weighted average number of common shares used in basic earnings per share 41,595,856 36,835,514 Effect of dilutive securities, stock options and warrants - - Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share 41,595,856 36,835,514

Note 13 - Stockholders' Equity

Note 13 - Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Warrants Outstanding Warrants Exercisable Exercise Prices Number Outstanding Weighted Average Weighted Average Exercise Price Number Exercisable Weighted Average $ 1.65 400,000 1.5 7 $ 1.65 400,000 $ 1.65 Total 4 00,000 1. 57 $ 1.65 400,000 $ 1. 65
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Expected term (in years) 1.9 Volatility 76.92 % Risk free interest rate 0.64 % 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 Life (years) Weighted Average Number Exercisable Weighted Average $ 0.74 325,000 2.62 $ 0.74 216,667 $ 0.74 $ 1.01 130,000 7.97 $ 1.01 130,000 $ 1.01 Total 455,000 4.15 $ 0.82 346,667 $ 0.84
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]	December 31, 2017 Shares Weighted Average Average Remaining Weighted Average Outstanding at beginning of period 868,000 $ 1.10 3.41 $ - Granted - - - - Exercised - - - - Forfeited (175,000 ) 0.75 - - Expired (238,000 ) 1.90 - - Outstanding at end of period 455,000 $ 0.82 4.15 $ - Vested and expected to vest 455,000 $ 0.82 4.15 $ - Exercisable end of period 346,667 $ 0.84 4.63 $ -

Note 14 - Significant Custome35

Note 14 - Significant Customers / Concentration (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	For the Year Ended December 31 2017 201 6 United States and Canada $ 1,115,447 $ 689,766 Australia 640,322 387,807 South America 89,438 115,675 Asia 1,608,822 1,105,272 Europe 7,889,148 11,607,874 $ 11,343,177 $ 13,906,394
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Year Ended December 31 2017 201 6 Ceramic diesel particulate $ 7,230,416 $ 5,820,793 Liquid filters and systems 3,987,424 7,731,079 Kiln furniture 125,337 354,522 $ 11,343,177 $ 13,906,394

Schedule II - Valuation and Q36

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Valuation Allowances and Reserves, Bad Debt Expense and Reserve for Obsolete Inventory [Table Text Block]	Bad debt expense (102,189 ) 1,437,949 Reserve for obsolete inventory (206,155 ) 802,966
Valuation Allowances and Reserves [Table Text Block]	Balance Beginning of Year Charges to Costs and Expenses Deductions (1) Balance End of Year Year Ended December 31, 201 7 Allowance for inventory obsolescence $ 1,421,345 $ (206,155 ) $ 193,884 $ 1,409,074 Allowance for doubtful accounts 2,128,452 (102,189 ) (1,365,682 ) 660,581 Totals $ 3,549,797 $ (308,344 ) $ (1,171,798 ) $ 2,069,655 Balance Beginning of Year Charges to Costs and Expenses Deductions (1) Balance End of Year Year Ended December 31, 2016 Allowance for inventory obsolescence $ 606,504 $ 802,966 $ 11,875 $ 1,421,345 Allowance for doubtful accounts 1,087,871 1,437,949 (397,368 ) 2,128,452 Totals $ 1,694,375 $ 2,262,907 $ (407,485 ) $ 3,549,797
Allowance for Credit Losses on Financing Receivables [Table Text Block]	2017 2016 Allowance for doubtful accounts at the beginning of the period $ 2,128,452 $ 1,087,871 Bad debt expense (102,189 ) 1,437,949 R eceivables written off during the periods (1,678,856 ) (252,792 ) Effect of currency translation 313,174 (144,576 ) Allowance for doubtful accounts at the end of the period $ 660,581 $ 2,128,452

Note 1 - Summary of Significa37

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash, Uninsured Amount	$ 0	$ 0
Advertising Expense	16,350	14,504
Research and Development Expense	536,848	626,147
Allocated Share-based Compensation Expense	178,944	435,794
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense	27,270	26,407
Employee Stock Option [Member]
Allocated Share-based Compensation Expense	$ 178,944	$ 435,794
DENMARK
Value Added Tax Of Invoice, Percentage	25.00%
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
LiqTech USA [Member] | LiqTech International DK [Member]
Percentage of Subsidiary Owned	100.00%
LiqTech USA [Member] | LiqTech NA [Member]
Percentage of Subsidiary Owned	100.00%
LiqTech International DK [Member] | LiqTech Germany [Member]
Percentage of Subsidiary Owned	100.00%
LiqTech International DK [Member] | LiqTech PTE [Member]
Percentage of Subsidiary Owned	95.00%

Note 1 - Summary of Significa38

Note 1 - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts at the beginning of the period	$ 2,128,452	$ 1,087,871
Bad debt expense	(102,189)	1,437,949
Receivables written off during the periods	(1,678,856)	(252,792)
Effect of currency translation	313,174	(144,576)
Allowance for doubtful accounts at the end of the period	$ 660,581	$ 2,128,452

Note 3 - Inventory - Summary of

Note 3 - Inventory - Summary of Inventory (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Furnace parts and supplies	$ 400,589	$ 336,799
Raw materials	1,260,209	1,216,098
Work in process	2,123,418	2,499,242
Finished goods and filtration systems	2,297,743	2,544,080
Reserve for obsolescence	(1,420,093)	(1,421,345)
Net Inventory	$ 4,661,866	$ 5,174,874

Note 4 - Property and Equipme40

Note 4 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Depreciation	$ 937,235	$ 1,373,505

Note 4 - Property and Equipme41

Note 4 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property and equipment, gross	$ 11,664,135	$ 11,773,878
Less Accumulated Depreciation	(9,704,930)	(9,140,320)
Net Property and Equipment	1,959,205	2,633,558
Production Equipment [Member]
Property and equipment, gross	10,114,398	10,370,462
Lab Equipment [Member]
Property and equipment, gross	87,094	76,658
Computer Equipment [Member]
Property and equipment, gross	204,553	185,652
Vehicles [Member]
Property and equipment, gross	$ 75,312	39,090
Furniture and Fixtures [Member]
Useful Life (Year)	5 years
Property and equipment, gross	$ 106,047	146,453
Leasehold Improvements [Member]
Useful Life (Year)	10 years
Property and equipment, gross	$ 1,076,731	$ 955,563
Minimum [Member]
Useful Life (Year)	3 years
Minimum [Member] | Production Equipment [Member]
Useful Life (Year)	3 years
Minimum [Member] | Lab Equipment [Member]
Useful Life (Year)	3 years
Minimum [Member] | Computer Equipment [Member]
Useful Life (Year)	3 years
Minimum [Member] | Vehicles [Member]
Useful Life (Year)	3 years
Maximum [Member]
Useful Life (Year)	10 years
Maximum [Member] | Production Equipment [Member]
Useful Life (Year)	10 years
Maximum [Member] | Lab Equipment [Member]
Useful Life (Year)	10 years
Maximum [Member] | Computer Equipment [Member]
Useful Life (Year)	5 years
Maximum [Member] | Vehicles [Member]
Useful Life (Year)	5 years

Note 5 - Investments at Cost (D

Note 5 - Investments at Cost (Details Textual) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Other Long-term Investments	$ 6,001	$ 5,282
LEA Technology [Member]
Other Long-term Investments	$ 6,001	$ 5,282

Note 5 - Investments at Costs -

Note 5 - Investments at Costs - Financial Assets and Liabilities (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Inputs, Level 1 [Member]
Investments
Total
Fair Value, Inputs, Level 2 [Member]
Investments
Total
Fair Value, Inputs, Level 3 [Member]
Investments	6,001	5,282
Total	$ 6,001	$ 5,282

Note 6 - Definite-life Intang44

Note 6 - Definite-life Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill)	$ 3,349	$ 5,614
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years
Patents [Member]
Amortization of Intangible Assets	$ 2,265	$ 4,772
Patents [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Patents [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years

Note 6 - Definite-life Intang45

Note 6 - Definite-life Intangible Assets - Expected Future Amortization Expense (Details)	Dec. 31, 2017USD ($)
2,018	$ 2,579
2,019	770
Thereafter
	$ 3,349

Note 7 - Goodwill (Details Text

Note 7 - Goodwill (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill, Impairment Loss	$ 0	$ 7,343,208

Note 8 - Lines of Credit (Detai

Note 8 - Lines of Credit (Details Textual) - Dec. 31, 2017	USD ($)	DKK (kr)
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,242	kr 94,620
Guarantor Obligations, Current Carrying Value	$ 15,242	kr 94,620

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Operating Leases, Rent Expense	$ 651,032	$ 645,817
Capital Leased Assets, Gross	1,328,672	1,240,358
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	1,301,870	1,126,550
Depreciation	937,235	1,373,505
Interest Expense, Lessee, Assets under Capital Lease	6,290	16,758
Assets Held under Capital Leases [Member]
Depreciation	39,623	$ 130,025
Capital Lease Obligations [Member] | Capital Lease 1 [Member]
Debt Instrument, Periodic Payment	671
Capital Lease Obligations [Member] | Capital Lease 2 [Member]
Debt Instrument, Periodic Payment	$ 604

Note 9 - Leases - Future Minimu

Note 9 - Leases - Future Minimum Lease Payments for Non-cancelable Operating Leases (Details)	Dec. 31, 2017USD ($)
2,018	$ 388,421
2,019	179,094
2,020	182,676
2,021	30,546
Thereafter
Total Minimum Lease Payments	$ 780,737

Note 9 - Leases - Future Mini50

Note 9 - Leases - Future Minimum Capital Lease Payments (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
2,018	$ 26,949
Thereafter	0
Total minimum lease payments	26,949
Less amount representing interest	(763)
Present value of minimum lease payments	26,186
Less Current Portion	$ (26,186)	$ (45,883)

Note 10 - Agreements, Commitm51

Note 10 - Agreements, Commitments and Commitments (Details Textual)	Dec. 20, 2017USD ($)	Sep. 09, 2014EUR (€)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017DKK (kr)
Defined Contribution Plan, Cost			$ 11,691	$ 11,347
Allowance for Doubtful Accounts Receivable, Write-offs			1,678,856	$ 252,792
Line of Credit Facility, Maximum Borrowing Capacity			15,242		kr 94,620
Guarantor Obligations, Current Carrying Value			15,242		kr 94,620
Customer Dispute, Installation of Water Treatment Systems [Member]
Loss Contingency, Damages Sought, Value	$ 1,098,678
Accounts Receivable, Net			0
Unbilled Contracts Receivable			809,917
Allowance for Doubtful Accounts Receivable, Write-offs			$ 402,653
Chief Executive Officer [Member] | LiqTech Italy [Member]
Equity Method Investment, Ownership Percentage		60.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		40.00%
Loss Contingency, Damages Sought, Value | €		€ 750,000

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
LiqTech International Inc and LiqTech NA [Member]
Deferred Tax Assets, Valuation Allowance	$ 2,833,000	$ 3,542,000
LiqTech International AS and LiqTech Systems AS [Member]
Deferred Tax Assets, Valuation Allowance	1,850,000	1,095,000
LiqTech Germany [Member]
Deferred Tax Assets, Valuation Allowance	139,000	122,000
LiqTech Singapore [Member]
Deferred Tax Assets, Valuation Allowance	110,000	97,000
Internal Revenue Service (IRS) [Member] | Domestic Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	13,683,343
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	(709,000)	3,542,000
Danish Ministry of Taxation [Member] | Foreign Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	6,517,915
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	755,000	1,095,000
Federal Ministry of Finance, Germany [Member] | Foreign Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	499,020
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	17,000	4,000
Inland Revenue, Singapore (IRAS) [Member] | Foreign Tax Authority [Member]
Deferred Tax Assets, Operating Loss Carryforwards, Foreign	648,358
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 13,000	$ 12,000

Note 11 - Income Taxes - Deferr

Note 11 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Vacation accrual	$ 2,900	$ 5,450
Allowance for doubtful accounts	743	1,202
Reserve for obsolete inventory	305,425	200,118
Business tax credit carryover	30,935	30,935
Deferred Compensation	16,787	8,500
Net operating loss carryover	4,646,434	4,906,974
Excess of book over tax depreciation	(71,116)	(296,227)
Valuation allowance	(4,932,108)	(4,856,952)
Long term deferred tax asset

Note 11 - Income Taxes - Reconc

Note 11 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Computed tax at expected statutory rate	$ (1,624,575)	$ (4,487,649)
State and local income taxes, net of federal benefit	(4,350)	(3,721)
Non-US income taxed at different rates	256,207	1,325,180
Effect of change in corporate tax rate	994,336	(21,489)
Non-deductible impairment of goodwill		1,615,506
Non-deductible deferred compensation		148,170
Non-deductible expenses	4,664	4,242
Valuation allowance	75,156	4,739,806
Other	(19,248)	(100,368)
Total tax expense (benefit)	$ (317,810)	$ 3,219,677

Note 11 - Income Taxes - Compon

Note 11 - Income Taxes - Components of Income Tax Expense (Benefit) from Continuing Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Current income tax expense:
Federal
State		580
Current tax (benefit)	(317,810)	(329,236)
Book in excess of tax depreciation	(225,111)	(158,684)
Allowance for doubful accounts	459	12,705
Net operating loss carryover	260,540	(1,000,650)
Valuation allowance	75,156	4,756,011
Deferred compensation	(8,287)	(8,500)
Accrued vacation	2,550	(1,517)
Reserve for obsolete inventory	(105,307)	(50,452)
Deferred tax expense (benefit)		3,548,913
Total tax expense (benefit)	(317,810)	3,219,677
Danish Ministry of Taxation [Member]
Current income tax expense:
Danish	$ (317,810)	$ (329,816)

Note 12 - Earnings Per Share (D

Note 12 - Earnings Per Share (Details Textual) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.82	$ 1.10
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.65
Preferred Stock, Shares Issued	2,200,837	0
Convertible Preferred Stock, Aggregate Shares Issued upon Conversion	8,803,348
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0.74	$ 0.74
Class of Warrant or Right, Exercise Price of Warrants or Rights		0.81
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 1.01	1.90
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 4.06
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	455,000	868,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	400,000	825,575
Mandatory Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,200,837

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Amounts Used in Computing Earnings Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net Loss attributable to LiqTech International Inc.	$ (4,460,353)	$ (16,418,634)
Weighted average number of common shares used in basic earnings per share (in shares)	41,595,856	36,835,514
Effect of dilutive securities, stock options and warrants (in shares)	0
Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share (in shares)	41,595,856	36,835,514

Note 13 - Stockholders' Equit58

Note 13 - Stockholders' Equity (Details Textual) - USD ($)	Nov. 22, 2017	Aug. 11, 2017	May 19, 2017	Jan. 02, 2017	Dec. 31, 2017	Dec. 31, 2016	Feb. 15, 2016
Common Stock, Shares Authorized					100,000,000	100,000,000
Common Stock, Par or Stated Value Per Share					$ 0.001	$ 0.001
Common Stock, Shares, Issued					44,229,264	36,835,514
Preferred Stock, Shares Authorized					10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share					$ 0.001	$ 0.001
Preferred Stock, Shares Issued					2,200,837	0
Convertible Preferred Stock, Aggregate Shares Issued upon Conversion					8,803,348
Canceled Common Shares Held in Escrow in Connection with an Acquisition, Shares						2,696,521
Payments of Stock Issuance Costs			$ 65,000		$ 192,736
Proceeds from Issuance of Common Stock			$ 1,825,000		1,825,000
Allocated Share-based Compensation Expense					$ 178,944	$ 435,794
Class of Warrant or Right, Outstanding, Non-vested Warrants					0	66,667
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 1.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					455,000	868,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options					$ 5,256
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares					108,333
Share Based Compensation Arrangements by Share Based Payment Award Options, Nonvested Weighted Average Exercise Price					$ 0.74
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value					$ 0.46
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value					$ 0
The 2011 Stock Options Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number					455,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options					$ 15,767
Consultant Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							100,000
Class of Warrant or Right, Exercise Price of Warrants or Rights							$ 0.81
Warrants and Rights Outstanding					33,000
Warrants [Member]
Allocated Share-based Compensation Expense					17,634	$ 50,634
Employee Stock Option [Member]
Allocated Share-based Compensation Expense					$ 178,944	435,794
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					182 days
Employee Stock Option [Member] | The 2011 Stock Options Plan [Member]
Allocated Share-based Compensation Expense					$ 70,477	307,493
Director [Member]
Stock Issued During Period, Shares, Restricted Stock Award, Gross		200,000		93,750
Stock Issued During Period, Value, Restricted Stock Award, Gross		$ 70,000		$ 60,000
Director [Member] | Restricted Stock [Member]
Allocated Share-based Compensation Expense					$ 90,833	$ 77,667
Private Placement [Member]
Stock Issued During Period, Shares, New Issues			7,300,000
Share Price			$ 0.25
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized					10,000,000
Preferred Stock, Par or Stated Value Per Share					$ 0.001
Preferred Stock, Shares Issued					2,200,837	0
Convertible Preferred Stock, Aggregate Shares Issued upon Conversion					8,803,348
Convertible Preferred Stock [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues	2,200,837
Convertible Preferred Stock, Shares Issued upon Conversion	4
Shares Issued, Price Per Share	$ 1.20
Proceeds from Issuance of Private Placement	$ 2,641,004
Payments of Stock Issuance Costs	$ 127,736

Note 13 - Stockholders' Equit59

Note 13 - Stockholders' Equity - Warrants Outstanding by Exercise Price (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Exercise prices of warrants (in dollars per share)	$ 1.65
Warrants outstanding (in shares) | shares	400,000
Warrants outstanding, weighted average remaining contractual life (Year)	1 year 208 days
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 1.65
Warrants exercisable (in shares) | shares	400,000
Warrants exercisable, weighted average exercise price (in dollars per share)	$ 1.65
Warrant 1 [Member]
Exercise prices of warrants (in dollars per share)	$ 1.65
Warrants outstanding (in shares) | shares	400,000
Warrants outstanding, weighted average remaining contractual life (Year)	1 year 208 days
Warrants outstanding, weighted average exercise price (in dollars per share)	$ 1.65
Warrants exercisable (in shares) | shares	400,000
Warrants exercisable, weighted average exercise price (in dollars per share)	$ 1.65

Note 13 - Stockholders' Equit60

Note 13 - Stockholders' Equity - Valuation Assumptions for Stock Options (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2017
Expected term (Year)	1 year 328 days
Volatility	76.92%
Risk free interest rate	0.64%
Dividend yield	0.00%

Note 13 - Stockholders' Equit61

Note 13 - Stockholders' Equity - Options Outstanding by Exercise Price (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Options outstanding (in shares) | shares	455,000
Options outstanding, weighted average remaining contractual life (Year)	4 years 54 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 0.82
Options exercisable (in shares) | shares	346,667
Options exercisable, weighted average exercise price (in dollars per share)	$ 0.84
Price Range 1 [Member]
Exercise prices of options (in dollars per share)	$ 0.74
Options outstanding (in shares) | shares	325,000
Options outstanding, weighted average remaining contractual life (Year)	2 years 226 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 0.74
Options exercisable (in shares) | shares	216,667
Options exercisable, weighted average exercise price (in dollars per share)	$ 0.74
Price Range 2 [Member]
Exercise prices of options (in dollars per share)	$ 1.01
Options outstanding (in shares) | shares	130,000
Options outstanding, weighted average remaining contractual life (Year)	7 years 354 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 1.01
Options exercisable (in shares) | shares	130,000
Options exercisable, weighted average exercise price (in dollars per share)	$ 1.01

Note 13 - Stockholders' Equit62

Note 13 - Stockholders' Equity - Status of Options and Changes During the Year (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Outstanding, shares (in shares)	868,000
Outstanding, weighted average exercise price (in dollars per share)	$ 1.10
Outstanding, average remaining life (Year)	4 years 54 days	3 years 149 days
Granted, shares (in shares)
Granted, weighted average exercise price (in dollars per share)
Exercised, shares (in shares)
Exercised, weighted average exercise price (in dollars per share)
Forfeited, shares (in shares)	(175,000)
Forfeited, weighted average exercise price (in dollars per share)	$ 0.75
Expired, shares (in shares)	(238,000)
Expired, weighted average exercise price (in dollars per share)	$ 1.90
Outstanding, shares (in shares)	455,000	868,000
Outstanding, weighted average exercise price (in dollars per share)	$ 0.82	$ 1.10
Outstanding, weighted average intrinsic value	$ 0
Vested and expected to vest, shares (in shares)	455,000
Vested and expected to vest, weighted average exercise price (in dollars per share)	$ 0.82
Vested and expected to vest, average remaining life (Year)	4 years 54 days
Vested and expected to vest, weighted average intrinsic value
Exercisable end of period, shares (in shares)	346,667
Exercisable end of period, weighted average exercise price (in dollars per share)	$ 0.84
Exercisable end of period, average remaining life (Year)	4 years 229 days
Exercisable end of period, weighted average intrinsic value

Note 14 - Significant Custome63

Note 14 - Significant Customers / Concentration (Details Textual)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]
Number of Major Customers	4	4
Concentration Risk, Percentage	38.00%	67.00%
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 1 [Member]
Concentration Risk, Percentage	16.00%	33.00%
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 2 [Member]
Concentration Risk, Percentage	10.00%	25.00%
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 3 [Member]
Concentration Risk, Percentage	7.00%	5.00%
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Major Customer 4 [Member]
Concentration Risk, Percentage	5.00%	4.00%
Geographic Concentration Risk [Member] | Assets, Total [Member] | DENMARK
Concentration Risk, Percentage	87.00%	85.00%
Geographic Concentration Risk [Member] | Assets, Total [Member] | UNITED STATES
Concentration Risk, Percentage	13.00%	15.00%

Note 14 - Significant Custome64

Note 14 - Significant Customers / Concentration - Net Sales by Geographical Region (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net Sales	$ 11,343,177	$ 13,906,394
Reportable Geographical Components [Member] | US And Canada [Member]
Net Sales	1,115,447	689,766
Reportable Geographical Components [Member] | AUSTRALIA
Net Sales	640,322	387,807
Reportable Geographical Components [Member] | South America [Member]
Net Sales	89,438	115,675
Reportable Geographical Components [Member] | Asia [Member]
Net Sales	1,608,822	1,105,272
Reportable Geographical Components [Member] | Europe [Member]
Net Sales	$ 7,889,148	$ 11,607,874

Note 14 - Significant Custome65

Note 14 - Significant Customers / Concentration - Sales by Product Line (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Net Sales	$ 11,343,177	$ 13,906,394
Ceramic Diesel Particulate [Member]
Net Sales	7,230,416	5,820,793
Liquid Filters [Member]
Net Sales	3,987,424	7,731,079
Kiln Furniture [Member]
Net Sales	$ 125,337	$ 354,522

Schedule II - Valuation and Q66

Schedule II - Valuation and Qualifying Accounts - Bad Debt Expense and Reserves for Obsolete Inventory (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Bad debt expense	$ (102,189)	$ 1,437,949
Reserve for obsolete inventory	$ (206,155)	$ 802,966

Schedule II - Valuation and Q67

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($)		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Balance Beginning of Year		$ 3,549,797	$ 1,694,375
Charges to Costs and Expenses		(308,344)	2,262,907
Deductions	[1]	(1,171,798)	(407,485)
Balance End of Year		2,069,655	3,549,797
Inventory Valuation Reserve [Member]
Balance Beginning of Year		1,421,345	606,504
Charges to Costs and Expenses		(206,155)	802,966
Deductions	[1]	193,884	11,875
Balance End of Year		1,409,074	1,421,345
Allowance for Doubtful Accounts [Member]
Balance Beginning of Year		2,128,452	1,087,871
Charges to Costs and Expenses		(102,189)	1,437,949
Deductions	[1]	(1,365,682)	(397,368)
Balance End of Year		$ 660,581	$ 2,128,452
[1]	Includes write-offs, the impact of foreign currency exchange rates.

Schedule II - Valuation and Q68

Schedule II - Valuation and Qualifying Accounts - Rollforward for Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts at the beginning of the period	$ 2,128,452	$ 1,087,871
Bad debt expense	(102,189)	1,437,949
Receivables written off during the periods	(1,678,856)	(252,792)
Effect of currency translation	313,174	(144,576)
Allowance for doubtful accounts at the end of the period	$ 660,581	$ 2,128,452