LiqTech International (LIQT) 10-K 31 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Central Index Key	0001307579
Entity Registrant Name	LIQTECH INTERNATIONAL INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-36210
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-1431677
Entity Address, Address Line One	Industriparken 22C, DK 2750
Entity Address, City or Town	Ballerup
Entity Address, Country	DK
City Area Code	45
Local Phone Number	31315941
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	LIQT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 118,122,891
Entity Common Stock, Shares Outstanding		21,697,373

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current Assets:
Cash, cash equivalents and Restricted cash	$ 13,264,449	$ 9,783,932
Accounts receivable, net of allowance for doubtful accounts of $498,044 and $612,434 at December 31, 2020 and December 31, 2019, respectively	3,129,109	6,272,760
Inventories, net of allowance for excess and obsolete inventory of $723,949 and $665,308 at December 31, 2020 and December 31, 2019, respectively	5,522,038	5,199,238
Contract assets	2,708,136	5,664,929
Prepaid expenses and other current assets	1,031,194	566,398
Total Current Assets	25,654,926	27,487,257
Long-Term Assets:
Property and Equipment, net of accumulated depreciation of $8,908,145 and $10,815,995 at December 31, 2020 and December 31, 2019, respectively	10,321,511	4,825,952
Operating lease right-of-use assets	4,947,734	5,053,614
Deposits and other assets	545,673	498,053
Intangible assets, net of accumulated amortization of $269,441 and $141,282 at December 31, 2020 and December 31, 2019, respectively	480,060	488,716
Goodwill	260,233	236,131
Total Long-term Assets	16,555,211	11,102,466
Total Assets	42,210,137	38,589,723
Current Liabilities:
Accounts payable	2,332,151	4,339,070
Accrued expenses	4,908,961	3,222,951
Current portion of finance lease obligations	394,839	34,772
Current portion of operating lease liabilities	1,026,235	999,685
Current portion of contingent earn-out liability	0	299,585
Contract liabilities	1,152,178	1,421,376
Income taxes payable	570	14,692
Total Current Liabilities	9,814,934	10,332,131
Deferred tax liability	305,167	338,763
Finance lease obligation, net of current portion	3,112,496	172,273
Operating lease liability, net of current portion	4,159,225	4,141,855
Contingent earn-out, net of current portion	0	599,170
Total Long-term liabilities	7,576,888	5,252,061
Total Liabilities	17,391,822	15,584,192
Stockholders' Equity:
Series A Mandatory Convertible Preferred stock; par value $0.001, 2,500,000 shares authorized, 0 and 0 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	0	0
Common stock; par value $0.001, 25,000,000 shares authorized 21,655,461 and 20,547,668 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively	21,655	20,548
Additional paid-in capital	69,897,698	61,398,150
Accumulated deficit	(42,054,968)	(32,246,608)
Accumulated other comprehensive loss	(3,046,070)	(6,166,559)
Total Stockholders' Equity	24,818,315	23,005,531
Total Liabilities and Stockholders' Equity	$ 42,210,137	$ 38,589,723

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, allowance for doubtful accounts	$ 498,044	$ 612,434
Inventories, allowance for excess and obsolete inventory	723,949	665,308
Property and equipment, accumulated depreciation	8,908,145	10,815,995
Intangible assets, accumulated depreciations	$ 269,441	$ 141,282
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	2,500,000	2,500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	25,000,000	25,000,000
Common stock, shares issued (in shares)	21,655,461	20,547,668
Common stock, shares outstanding (in shares)	21,655,461	20,547,668

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total Revenue	$ 22,526,201	$ 32,637,484
Cost of Goods Sold	20,379,519	25,475,170
Gross Profit	2,146,682	7,162,314
Operating Expenses:
Selling expenses	2,918,418	2,426,971
General and administrative expenses	6,205,040	4,563,216
Research and development expenses	1,278,331	749,249
Total Operating Expenses	10,401,789	7,739,436
Loss from Operations	(8,255,107)	(577,122)
Other Income (Expense)
Gain on modification of earn-out liability	306,077	0
Interest and other income	139,513	73,635
Interest expense	(120,903)	(18,831)
Fair value adjustment of warrants	(901,250)	0
Gain (Loss) on currency transactions	(1,469,607)	285,742
Gain (Loss) on sale of fixed assets	27,772	(21,060)
Total Other Income (Expense)	(2,018,398)	319,486
Loss Before Income Taxes	(10,273,505)	(257,636)
Income Tax Benefit	(465,145)	(297,252)
Net Income (Loss)	$ (9,808,360)	$ 39,616
Basic Income (Loss) Per Share (in dollars per share)	$ (0.46)	$ 0
Diluted Income (Loss) Per Share (in dollars per share)	$ (0.46)	$ 0
Basic Weighted Average Common Shares Outstanding (in shares)	21,209,118	19,652,277
Diluted Weighted Average Common Shares Outstanding (in shares)	21,209,118	19,667,752

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Income (Loss)	$ (9,808,360)	$ 39,616
Other Comprehensive Income (Loss) - Currency Translation, net	3,120,489	(421,703)
Total Comprehensive Loss	$ (6,687,871)	$ (382,087)

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($)	Board of Directors, Second Issuance [Member]Common Stock [Member]	Board of Directors, Second Issuance [Member]Additional Paid-in Capital [Member]	Board of Directors, Second Issuance [Member]Retained Earnings [Member]	Board of Directors, Second Issuance [Member]AOCI Attributable to Parent [Member]	Board of Directors, Second Issuance [Member]	Board of Directors, First Issuance [Member]Common Stock [Member]	Board of Directors, First Issuance [Member]Additional Paid-in Capital [Member]	Board of Directors, First Issuance [Member]Retained Earnings [Member]	Board of Directors, First Issuance [Member]AOCI Attributable to Parent [Member]	Board of Directors, First Issuance [Member]	Board of Directors, Third Issuance [Member]Common Stock [Member]	Board of Directors, Third Issuance [Member]Additional Paid-in Capital [Member]	Board of Directors, Third Issuance [Member]Retained Earnings [Member]	Board of Directors, Third Issuance [Member]AOCI Attributable to Parent [Member]	Board of Directors, Third Issuance [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
BALANCE (in shares) at Dec. 31, 2018																18,228,887
BALANCE at Dec. 31, 2018																$ 18,229	$ 46,552,487	$ (32,286,224)	$ (5,744,856)	$ 8,539,636
Stock Issued During Period, Shares, Issued for Services (in shares)						29,032
Stock Issued During Period, Value, Issued for Services						$ 29	$ 112,471			$ 112,500
Stock based compensation																	85,443			85,443
Exercise of stock options (in shares)																45,000
Exercise of stock options																$ 45	133,155			133,200
Common shares issued, net offering cost (in shares)																2,215,862
Common shares issued, net offering cost																$ 2,216	14,514,623			14,516,839
Currency translation, net																			(421,703)	(421,703)
Net Income (Loss)																		39,616		39,616
Exercise of warrants (in shares)																28,887
Exercise of warrants																$ 29	(29)			0
BALANCE (in shares) at Dec. 31, 2019																20,547,668
BALANCE at Dec. 31, 2019																$ 20,548	61,398,150	(32,246,608)	(6,166,559)	23,005,531
Stock Issued During Period, Shares, Issued for Services (in shares)	8,212										8,333
Stock Issued During Period, Value, Issued for Services	$ 8	$ 44,992			$ 45,000						$ 8	$ (8)			$ 0
Stock based compensation																	298,780			298,780
Exercise of stock options (in shares)																6,248
Exercise of stock options																$ 6	18,494			18,500
Common shares issued, net offering cost (in shares)																1,085,000
Common shares issued, net offering cost																$ 1,085	4,661,040			4,662,125
Prefunded warrants, 515,000, transferred to equity upon modification in August 2020																	3,476,250			3,476,250
Currency translation, net																			3,120,489	3,120,489
Net Income (Loss)																		(9,808,360)		(9,808,360)
BALANCE (in shares) at Dec. 31, 2020																21,655,461
BALANCE at Dec. 31, 2020																$ 21,655	$ 69,897,698	$ (42,054,968)	$ (3,046,070)	$ 24,818,315

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Common Stock [Member]
Shares issued, offering cost per share (in dollars per share)	$ 5
Additional Paid-in Capital [Member]
Shares issued, offering cost	$ 762,875
Shares issued, offering cost per share (in dollars per share)		$ 7.25
Shares issued, offering cost		$ 1,548,161
Prefunded warrants, transferred to equity (in shares)	515,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities:
Total consolidated Income (Loss)	$ (9,808,360)	$ 39,616
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:
Depreciation and amortization	2,827,341	1,343,252
Stock-based compensation	343,780	197,943
Change in fair value of warrant liability	901,250	0
Gain on modification of earn-out liability	(306,077)	0
Change in deferred tax asset / liability	(63,200)	13,926
Loss (Gain) on sale of equipment	(27,772)	21,060
Changes in assets and liabilities:
Accounts receivable	3,143,651	(4,364,197)
Inventory	(322,800)	(443,780)
Contract assets	2,522,275	(4,247,679)
Prepaid expenses and other current assets	565	(165,383)
Accounts payable	(2,006,919)	2,117,101
Accrued expenses	1,355,846	1,471,809
Operating lease payments	(874,441)	(541,771)
Contract liabilities	(269,198)	28,755
Income taxes payable	(14,806)	(17,413)
Total Adjustments	7,209,495	(4,586,377)
Net Cash (used in) Operating Activities	(2,598,865)	(4,546,761)
Cash Flows from Investing Activities:
Purchase of property and equipment	(3,754,166)	(2,542,757)
Proceeds from sale of property and equipment	102,416	24,362
Purchase of other intangible assets	(55,198)	(27,378)
Net cash paid for acquisition	(301,573)	(1,154,902)
Net Cash used in Investing Activities	(4,008,521)	(3,700,675)
Cash Flows from Financing Activities:
Payments on finance lease obligation	(38,725)	(22,569)
Proceeds from exercise of stock options	18,500	133,200
Proceeds from issuance of prefunded warrants	2,575,000	0
Proceeds from issuance of common stock, net	4,662,127	14,516,839
Net Cash Provided by Financing Activities	7,216,902	14,627,470
Loss on Currency Translation	2,871,001	(372,213)
Net Change in Cash, Cash Equivalents and Restricted Cash	3,480,517	6,007,821
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	9,783,932	3,776,111
Cash, Cash Equivalents and Restricted Cash at End of Period	13,264,449	9,783,932
Supplemental Disclosures of Cash Flow Information:
Interest	103,953	8,810
Income Taxes	$ 13,726	$ 17,413

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
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., the “Company” and its subsidiaries. The terms "Company", “us", "we" and "our" as used in this report refer to the Company 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 applications and diesel particulate air filters in the United States, Canada, Europe, Asia and South America. Set forth below is a description of the Company and each of its subsidiaries: LiqTech International, Inc., a Nevada corporation organized in July 2004, LiqTech USA, a Delaware corporation and a 100% owned subsidiary of the Company formed in May 2011. LiqTech Holding A/S (formerly known as LiqTech International A/S), a Danish corporation, incorporated on January 15, 2000 ( LiqTech NA, Inc. (“LiqTech NA”), incorporated in Delaware on July 1, 2005, LiqTech Water A/S (formerly known as LiqTech Systems A/S), a Danish Corporation (“LiqTech Water”), incorporated on September 1, 2009, LiqTech Plastics A/S (formerly known as BS Plastic A/S), a Danish Corporation (“LiqTech Plastics”), acquired on September 1, 2019, LiqTech Ceramics A/S, a Danish corporation (“LiqTech Ceramics”), incorporated on December 20, 2019, LiqTech Water Projects A/S, a Danish corporation (“LiqTech Water Projects”), incorporated on July 28, 2020 LiqTech Germany (“LiqTech Germany”), a 100% owned subsidiary of LiqTech Holding, incorporated in Germany on December 9, 2011. LiqTech PTE Ltd (“LiqTech Sing”), a 95% owned subsidiary of LiqTech Holding, incorporated in Singapore on January 19, 2012. Consolidation -- Reclassification 2019 Functional Currency / Foreign currency translation -- twelve December 31, 2020 2019. Significant events -- March 2020, 19” March, two May, 19 September, We are unable to accurately predict the full impact that COVID- 19 2020. 12 19 not 2020. While we anticipate that the foregoing measures are temporary, we cannot predict the specific duration for which these precautionary measures will stay in effect, and our business may may Cash, Cash Equivalents and Restricted Cash -- three December 31, 2020, 2019, December 31, 2020 December 31, 2019. Accounts Receivable -- The roll-forward of the allowance for doubtful accounts for the year ended December 31, 2020 December 31, 2019 2020 2019 Allowance for doubtful accounts at the beginning of the period $ 612,434 $ 971,772 Bad debt expense 320,270 25,044 Receivables written off during the periods (484,265 ) (362,244 ) Effect of currency translation 49,605 (22,138 ) Allowance for doubtful accounts at the end of the period $ 498,044 $ 612,434 Inventory first first For inventory produced, standard costs that approximate actual cost on the FIFO method are used to value inventory. Standard costs are reviewed at least annually by management, or more often in the event that circumstances indicate a change in cost has occurred. Work in process and finished goods include material, labor, and production overhead costs. The Company adjusts the value of its inventory to the extent that management determines that the cost cannot be recovered due to obsolescence or other factors. Inventory valuation adjustments for excess and obsolete inventory are calculated based on current inventory levels, movement, expected useful lives, and estimated future demand of the products and spare parts. Contracts Assets not Contract assets also include unbilled receivables, which usually comprise the last invoice remaining after the delivery of the water treatment unit, where revenue is recognized at the transfer of control based upon signed acceptance of the water treatment unit by the customer. Most commonly this invoice is sent to the customer at commissioning of the product or no 12 Leases -- February 2016, No. 2016 02, 842” On January 1, 2019, 842 not 12 not not may 842 not Property and Equipment -- three ten Goodwill and Intangible Assets -- not Acquired intangible assets with determinable useful lives are amortized on a straight-line or accelerated basis over the estimated periods benefited, ranging from one ten five The Company evaluates the recoverability of long-lived assets by comparing the carrying amount of an asset to estimated future net undiscounted cash flows generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured as the amount by which the carrying value of the assets exceeds the fair value of the assets. The evaluation of recoverability involves estimates of future operating cash flows based upon certain forecasted assumptions, including, but not Goodwill is not Revenue Recognition -- January 1, 2018, 606, 2015, 2016 2017 January 1, 2018. not The Company sells products throughout the world; sales by geographical region are as follows for the year ended December 31, 2020 2019: For the Year Ended December 31 2020 2019 United States and Canada $ 656,032 $ 1,600,298 Australia 524,255 425,560 Asia 3,372,286 5,991,440 Europe 17,973,628 24,620,186 $ 22,526,201 $ 32,637,484 The Company’s sales by product line are as follows for the years ended December 31, 2020 2019: For the Year Ended December 31 2020 2019 Liquid filters and systems $ 14,147,842 $ 25,464,614 Ceramic diesel particulate 5,131,891 5,652,686 Plastics 2,647,366 895,203 Development projects 599,102 625,981 $ 22,526,201 $ 32,637,484 For membranes, diesel particulate filters and plastic components, revenue is recognized when performance obligations under the terms of a contract with the customer are satisfied, which occurs when control of the product transfers to the customer or when services are rendered by the Company. The majority of the Company's sales contracts contain performance obligations satisfied at a point in time when title and risks and rewards of ownership have transferred to the customer. This generally occurs when the product is shipped or accepted by the customer. Revenue for service contracts is recognized as the services are provided. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods or providing services. The satisfaction of performance obligations under the terms of a revenue contract generally gives rise to the right for payment from the customer. The Company's standard payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not not For contracts with customers that include multiple performance obligations, judgment is required to determine whether performance obligations specified in these contracts are distinct and should be accounted for as separate revenue transactions for recognition purposes. For such arrangements, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are generally determined based on the prices charged to customers or using expected cost-plus margin. System sales are recognized when the Company transfers control to the customer based upon sales and delivery conditions stated in the sales contract. This typically occurs upon shipment of the system from the production facility but can also occur upon other agreed delivery terms. In connection with the completion of the system, it is normal procedure to issue a FAT (Factory Acceptance Test) stating that the customer has accepted the performance of the system as it is being shipped from our production facility in Hobro. As part of the performance obligation, the customer is normally offered commissioning services (final assembly and configuration at a place designated by the customer), and this commissioning is therefore considered a second second first Aftermarket sales represent parts, extended warranties and maintenance services. For the sale of aftermarket parts, the Company transfers control and recognizes revenue when parts are shipped to the customer. When customers are given the right to return eligible parts and accessories, the Company estimates the expected returns based on an analysis of historical experience. The Company adjusts estimated revenues at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed. The Company recognizes revenue for extended warranty and maintenance agreements based on the standalone selling price over the life of the contract. The Company has received long-term contracts for grants from government entities for the development and use of silicon carbide membranes in various water filtration and treatment applications and historically in the installation of various water filtrations systems. We measure transfer of control of the performance obligation on long-term contracts utilizing the cost-to-cost measure of progress, with cost of revenue including direct costs, such as labor and materials. Under the cost-to-cost approach, the use of estimated costs to complete each performance obligation is a significant variable in the process of determining recognized revenue and a significant factor in the accounting for such performance obligations. The timing of when we bill our customers is generally dependent upon advance billings terms, milestone billings based on completion of certain phases of the work or when services are provided, or products are shipped. Projects with performance obligations recognized over time that have costs and estimated earnings recognized to date in excess of cumulative billings are reported on our balance sheet as Contract assets. Projects with performance obligations recognized over time that have cumulative billings in excess of costs and estimated earnings recognized to date are reported on our balance sheet as Contract liabilities. Contract assets are the Company’s rights to consideration in exchange for goods or services and is recognized when a performance obligation has been satisfied but has not third second The roll-forward of Contract Assets/Liabilities for the year ended December 31, 2020 December 31, 2019 2020 2019 Cost incurred $ 3,997,161 $ 3,960,199 Unbilled project deliveries 1,015,977 1,971,106 VAT 446,608 862,368 Other receivables 75,010 58,397 Prepayments (3,112,118 ) (1,732,231 ) Deferred Revenue (866,680 ) (876,286 ) $ 1,555,958 $ 4,243,553 Distributed as follows: Contract assets $ 2,708,136 $ 5,664,929 Contract liabilities (1,152,178 ) (1,421,376 ) $ 1,555,958 $ 4,243,553 Advertising Cost -- December 31, 2020 2019, Research and Development Cost -- December 31, 2020 2019 Income Taxes -- 740: Income/(Loss) Per Share -- 260, not Stock Options and Awards -- 718, December 31, 2020 2019, Warrant Liability -- May 2020 480, 480” August 12, 2020, August 12, 2020 Fair Value of Financial Instruments -- 820. three ● Level 1. ● Level 2. ● Level 3. no Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, accounts receivable, other receivables, prepaid expenses, accounts payable, accrued expenses approximate their recorded values due to their short-term maturities. Accounting Estimates -- Recent Accounting Pronouncements -- March 2020, 2020 04, 848 December 31, 2022. On March 9, 2020, 2020 03, December 15, 2019 2020 03 January 1, 2020 no In December 2019, 2019 12, 740 December 15, 2020 March 1, 2021 not In August 2018, No. 2018 13, 820 December 15, 2019, 2018 13 January 1, 2020 no In November 2016, No. 2016 18, December 31, 2020, December 31, 2019, In June 2016, 2016 13, 326 2016 13. December 15, 2019 2016 13 January 1, 2020 no Other recent accounting pronouncements issued by the FASB did not not

Note 2 - Inventory

Note 2 - Inventory	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 2 Inventory consisted of the following at December 31, 2020 December 31, 2019: 2020 2019 Furnace parts and supplies $ 471,622 $ 621,991 Raw materials 1,955,713 2,125,921 Work in process 2,394,481 1,624,499 Finished goods and filtration systems 1,424,171 1,492,135 Reserve for excess and obsolescence (723,949 ) (665,308 ) Net Inventory $ 5,522,038 $ 5,199,238 Inventory valuation adjustments for excess and obsolete inventory are calculated based on current inventory levels, movements, expected useful lives, and estimated future demand for the products.

Note 3 - Property and Equipment

Note 3 - Property and Equipment	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 3 - PROPERTY AND EQUIPMENT Property and equipment consisted of the following on December 31, 2020 December 31, 2019: Useful Life 2020 2019 Production equipment 3 - 10 $ 8,599,728 $ 10,228,216 Production equipment - finance lease 3 - 10 4,528,695 1,113,412 Lab equipment 3 - 10 127,560 99,831 Computer equipment 3 - 5 805,001 484,943 Vehicles 3 - 5 115,525 143,373 Vehicles - finance lease 3 - 5 - 50,815 Furniture and fixture 5 1,218,386 1,202,155 Furniture and fixture - finance lease 5 290,505 198,045 Leasehold improvements 5 - 10 3,544,256 2,121,157 19,229,656 15,641,947 Less Accumulated Depreciation (7,518,657 ) (9,659,850 ) Less Accumulated Depreciation - finance lease (1,389,488 ) (1,156,145 ) Net Property and Equipment $ 10,321,511 $ 4,825,952 Depreciation expense amounted to $1,857,111 and $737,007 for the year ended December 31, 2020 2019,

Note 4 - Leases

Note 4 - Leases	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	NOTE 4 - LEASES The Company leases certain vehicles, real property, production equipment and office equipment under lease agreements. The Company evaluates each lease to determine its appropriate classification as an operating lease or finance lease for financial reporting purposes. The majority of our operating leases are non-cancelable operating leases for production and office space in Hobro, Aarhus and Copenhagen, Denmark as well as in White Bear Lake, Minnesota. The lease in White Bear Lake will expire in February 2021 not During the year ended December 31, 2020, During the year ended December 31, 2020, Supplemental balance sheet information related to leases as of December 31, 2020 2019 December 31, 2020 December 31, 2019 Operating leases Operating lease right-of-use assets $ 4,947,734 $ 5,053,614 Operating lease liabilities – current $ 1,026,235 $ 999,685 Operating lease liabilities – long-term 4,159,225 4,141,855 Total operating lease liabilities $ 5,185,460 $ 5,141,540 Finance leases Property and equipment, at cost $ 4,819,201 $ 1,362,272 Accumulated depreciation (1,389,488 ) (1,156,145 ) Property and equipment, net $ 3,429,713 $ 206,127 Finance lease liabilities - current $ 394,839 $ 34,772 Finance lease liabilities – long-term 3,112,496 172,273 Total finance lease liabilities $ 3,507,335 $ 207,045 Weighted average remaining lease term: Operating leases 10.0 10.2 Finance leases 6.9 5.5 Weighted average discount rate: Operating leases 6.2 % 6.4 % Finance leases 2.8 % 3.9 % Maturities of lease liabilities at December 31, 2020 Operating lease Finance lease 2021 $ 1,053,748 $ 488,952 2022 961,452 487,224 2023 854,547 482,130 2024 687,013 483,167 2025 354,907 479,233 Thereafter 3,000,582 1,496,454 Total payment under lease agreements 6,912,249 3,917,160 Less imputed interest (1,726,789 ) (409,825 ) Total lease liability $ 5,185,460 $ 3,507,335

Note 5 - Intangible Assets

Note 5 - Intangible Assets	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 5 At December 31, 2020 December 31, 2019, Intangible assets consisted of the following at December 31, 2020 December 31, 2019: 2020 2019 Customer relationships $ 544,770 $ 494,315 Patent cost 204,731 135,683 749,501 629,998 Less Accumulated amortization (269,441 ) (141,282 ) Intangible assets, net $ 480,060 $ 488,716 Expected future amortization expense for the years ended are as follows: Year ending December 31, Amortization Expenses 2021 117,488 2022 117,489 2023 117,488 2024 81,171 2025 8,535 Thereafter 37,889 $ 480,060

Note 6 - Lines of Credit

Note 6 - Lines of Credit	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 6 In connection with certain orders, we provide the customer a working guarantee, a prepayment guarantee or security bond. For that purpose, we have a guarantee credit line of DKK10,000,000 2016 December 31, 2020)

Note 7 - Agreements, Commitment

Note 7 - Agreements, Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 7 AGREEMENTS, COMMITMENTS AND CONTINGENCIES Agreements none third 401 401 December 31, 2020 2019, Contingencies -- may On November 20, 2018 2016 not December 2020 2020. January 2021. On February 27, 2019, 2017. 2018. no December 31, 2020. Product Warranties one three may In addition, the Company sells an extended warranty for certain systems, which generally provides a warranty for up to four The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts, as necessary. Factors that affect the warranty liability include the number of units sold, historical and anticipated rates of warranty claims and the cost per claim. Changes in the Company's current and long-term warranty obligations included in accrued expenses on the balance sheet for the fiscal years ended December 31, 2020 2019, 2020 2019 Balance at January 1, $ 813,288 $ 432,225 Warranty costs charged to cost of goods sold 348,241 707,079 Utilization charges against reserve (199,624 ) (315,556 ) Release of accrual related to expired warranties - - Foreign currency effect 94,708 (10,460 ) Balance at December 31, $ 1,056,613 $ 813,288

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 8 INCOME TAXES The Company accounts for income taxes in accordance with FASB ASC Topic 740, two first not second 50%. As of December 31, 2020, 2038; not not not As of December 31, 2020 December 31, 2019, not not December 31, 2020 December 31, 2019 The temporary differences, tax credits and carry forwards gave rise to the following deferred tax asset and liabilities at December 31, 2020 December 31, 2019: 2020 2019 Excess of tax over financial accounting $ 624,154 $ - Vacation accrual 1,971 3,908 Reserve for excess and obsolete inventory 151,288 152,680 Business tax credit carryover - 30,935 Deferred compensation 49,556 17,943 Net operating loss carryover 7,627,046 5,889,088 Excess of book over tax depreciation (610,694 ) (300,805 ) Excess of book over tax work in progress (817,131 ) (847,290 ) Valuation allowance (7,331,357 ) (5,285,222 ) $ (305,167 ) $ (338,763 ) Distributed as: Long-term deferred tax asset - - Long-term deferred tax liability (305,167 ) (338,763 ) $ (305,167 ) $ (338,763 ) 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, 2020 2019: 2020 2019 Computed tax at expected statutory rate $ (2,157,436 ) $ (54,104 ) State and local income taxes, net of federal benefit (76,055 ) (2,971 ) Non-US income taxed at different rates (35,454 ) 14,635 ) Deferred compensation (52,165 ) (6,508 ) Non-deductible expenses 2,243 4,794 Non-taxable income (75,562 ) - Valuation allowance 1,918,579 (227,182 ) Other 10,705 (25,916 ) Income tax expense (benefit) $ (465,145 ) $ (297,252 ) The components of income tax expense (benefit) from continuing operations for the years ended December 31, 2020 2019 2020 2019 Current income taxes: Danish $ (401,945 ) $ (311,189 ) Federal - - State - - Current tax (benefit) $ (401,945 ) $ (311,189 ) Deferred income taxes: Book in excess of tax depreciation $ (419,523 ) $ (61,808 ) Allowance for doubtful accounts - 752 Work in progress (44,862 ) 848,000 Net operating loss carryover (389,616 ) (344,870 ) Valuation allowance 844,826 (507,935 ) Deferred compensation (52,165 ) (6,508 ) Accrued vacation (16,707 ) (2 ) Reserve for obsolete inventory 14,847 86,308 Deferred tax expense (benefit) $ (63,200 ) $ 13,937 Total tax expense (benefit) $ (465,145 ) $ (297,252 ) Deferred income tax expense / (benefit) results primarily from the reversal of temporary timing differences between tax and financial statement income. The Company files Danish, U.S. federal and Minnesota state income tax returns. LiqTech Holding, LiqTech Ceramics, LiqTech Water, LiqTech Plastics and LiqTech Water Projects are generally no 2015 no 2015

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 9 EARNINGS PER SHARE Basic and diluted net income (loss) per common share is determined by dividing net income (loss) by the weighted average common shares outstanding during the period. For the periods where there is a net loss, stock options, warrants and Restricted Stock Units have been excluded from the calculation of diluted net loss per common share because their effect would be anti-dilutive. Consequently, the weighted average common shares used to calculate both basic and diluted net loss per common share would be the same. For the year ended December 31, 2020, For the year ended December 31, 2019, The following data shows the amounts used in computing earnings per share, the effect on income and the weighted average number of shares of potential dilutive common stock for the years ended December 31, 2020 2019: For the Year Ended December 31 2020 2019 Net Income/(Loss) attributable to LiqTech International Inc. $ (9,808,360 ) $ 39,616 Weighted average number of common shares used in basic earnings per share 21,209,118 19,652,277 Effect of dilutive securities, stock options, warrants, and RSUs - 15,475 Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share 21,209,118 19,667,752

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 10 Common Stock December 31, 2020 2019, Voting -- one not Dividends -- may may Liquidation Rights -- Other Matters -- no no Preferred Stock -- one may may The Company has 2,500,000 authorized Preferred stock, $0.001 par value. As of December 31, 2020 2019 Stock Issuances Since January 1, 2020, On January 15, 2020, On May 21, 2020, On June 6, 2020, On July 8 August 18, 2020, 2015 "2015 For the years ended December 31, 2020 2019, Warrants In connection with the Securities Purchase Agreement entered into in May 2020, may no not not 9.99% may not 9.99% The following is a summary of the periodic changes in warrants outstanding for the year ended December 31, 2020: 2020 Warrants outstanding at January 1 - Prefunded warrants issued in May 2020 515,000 Exercises and conversions - Warrants outstanding at December 31 515,000 On August 12, 2020 December 31, 2020: Base value of warrants, 515,000 warrants at $5 $ 2,575,000 Fair value adjustment 901,250 Balance at August 12, 2020 reclassified to equity $ 3,476,250 Stock-based Compensation In 2013, December 31, 2020, three 2020 three The Company recognizes compensation costs for RSU grants to Directors and management based on the stock price on the date of the grant. The Company recognized stock-based compensation expense related to RSU grants of $343,780 and $197,945 for the years ended December 31, 2020 2019, December 31, 2020, A summary of the status of the RSUs outstanding as of December 31, 2020 December 31, 2020 Number of units Weighted Average Grant-Date Fair value Aggregated Intrinsic Value Outstanding, December 31, 2019 133,747 $ 5.47 $ 50,824 Granted 44,430 6.47 - Vested and settled with share issuance (33,211 ) 4.15 - Forfeited (16,667 ) 8.32 - Outstanding, December 31, 2020 128,299 $ 5.79 $ 250,183 Stock Options In August 2015, December 31, 2020, 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.

Note 11 - Segment Reporting

Note 11 - Segment Reporting	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 11 SEGMENT REPORTING The Company operates in 3 January 1, 2020, 2020 2019 Segment information for the business areas is as follows: For the Year Ended December 31, Revenues 2020 2019 Water $ 13,615,904 $ 24,570,867 Ceramics 5,663,830 6,546,432 Plastics 2,647,366 895,203 Other 599,101 624,982 Total consolidated revenue $ 22,526,201 $ 32,637,484 For the Year Ended December 31, Income (Loss) 2020 2019 Water $ (1,083,578 ) $ 1,713,150 Ceramics (3,532,137 ) (600,939 ) Plastics (882,038 ) 49,440 Other (4,310,607 ) (1,122,035 ) Total consolidated Income (Loss) $ (9,808,360 ) $ 39,616 For the Year Ended December 31, Total assets 2020 2019 Water $ 14,033,107 $ 14,718,598 Ceramics 16,734,371 21,499,120 Plastics 2,022,381 2,177,791 Other 9,420,278 193,543 Total consolidated assets $ 42,210,137 $ 38,589,723

Note 12 - Significant Customers

Note 12 - Significant Customers / Concentration	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 12 SIGNIFICANT CUSTOMERS / CONCENTRATION The following table presents customers accounting for 10% For the Year Ended December 31, 2020 2019 Customer A 27 % 29 % Customer B 10 % 15 % Customer C - % 18 % * Zero or less than 10% The following table presents customers accounting for 10% December 31, 2020 December 31, 2019 Customer A 39 % 39 % Customer B 12 % - % Customer D 16 % - % Customer E - % 15 % As of December 31, 2020, December 31, 2019,

Note 13 - Subsequent Events

Note 13 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 13 SUBSEQUENT EVENTS On January 6, 2021, 2020. On February 26, 2021, 2020. On March 24, 2021, 2023

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	a. Valuation and Qualifying Accounts for the years ended December 31, 2020 December 31, 2019. 2020 2019 Bad debt expense 320,270 25,044 Reserve for obsolete inventory 266,021 127,293 Balance Beginning of Year Charges to Costs and Expenses Deductions (1) Balance End of Year Year Ended December 31, 2020 Allowance for inventory obsolescence $ 665,308 $ 266,021 $ (207,380 ) $ 723,949 Allowance for doubtful accounts 612,434 320,270 (434,660 ) 498,044 Totals $ 1,277,742 $ 586,291 $ (642,040 ) $ 1,221,993 Year Ended December 31, 2019 Allowance for inventory obsolescence $ 1,111,795 $ 127,293 $ (573,780 ) $ 665,308 Allowance for doubtful accounts 971,772 25,044 (384,382 ) 612,434 Totals $ 2,083,567 $ 152,337 $ (958,162 ) $ 1,277,742 2020 2019 Allowance for doubtful accounts at the beginning of the period $ 612,434 $ 971,772 Bad debt expense 320,270 25,044 Receivables written off during the periods (484,265 ) (362,244 ) Effect of currency translation 49,605 (22,138 ) Allowance for doubtful accounts at the end of the period $ 498,044 $ 612,434 ( 1

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
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., the “Company” and its subsidiaries. The terms "Company", “us", "we" and "our" as used in this report refer to the Company 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 applications and diesel particulate air filters in the United States, Canada, Europe, Asia and South America. Set forth below is a description of the Company and each of its subsidiaries: LiqTech International, Inc., a Nevada corporation organized in July 2004, LiqTech USA, a Delaware corporation and a 100% owned subsidiary of the Company formed in May 2011. LiqTech Holding A/S (formerly known as LiqTech International A/S), a Danish corporation, incorporated on January 15, 2000 ( LiqTech NA, Inc. (“LiqTech NA”), incorporated in Delaware on July 1, 2005, LiqTech Water A/S (formerly known as LiqTech Systems A/S), a Danish Corporation (“LiqTech Water”), incorporated on September 1, 2009, LiqTech Plastics A/S (formerly known as BS Plastic A/S), a Danish Corporation (“LiqTech Plastics”), acquired on September 1, 2019, LiqTech Ceramics A/S, a Danish corporation (“LiqTech Ceramics”), incorporated on December 20, 2019, LiqTech Water Projects A/S, a Danish corporation (“LiqTech Water Projects”), incorporated on July 28, 2020 LiqTech Germany (“LiqTech Germany”), a 100% owned subsidiary of LiqTech Holding, incorporated in Germany on December 9, 2011. LiqTech PTE Ltd (“LiqTech Sing”), a 95% owned subsidiary of LiqTech Holding, incorporated in Singapore on January 19, 2012.
Consolidation, Policy [Policy Text Block]	Consolidation --
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassification 2019
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Functional Currency / Foreign currency translation -- twelve December 31, 2020 2019.
Unusual Risks and Uncertainties [Policy Text Block]	Significant events -- March 2020, 19” March, two May, 19 September, We are unable to accurately predict the full impact that COVID- 19 2020. 12 19 not 2020. While we anticipate that the foregoing measures are temporary, we cannot predict the specific duration for which these precautionary measures will stay in effect, and our business may may
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Restricted Cash -- three December 31, 2020, 2019, December 31, 2020 December 31, 2019.
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, 2020 December 31, 2019 2020 2019 Allowance for doubtful accounts at the beginning of the period $ 612,434 $ 971,772 Bad debt expense 320,270 25,044 Receivables written off during the periods (484,265 ) (362,244 ) Effect of currency translation 49,605 (22,138 ) Allowance for doubtful accounts at the end of the period $ 498,044 $ 612,434
Inventory, Policy [Policy Text Block]	Inventory first first For inventory produced, standard costs that approximate actual cost on the FIFO method are used to value inventory. Standard costs are reviewed at least annually by management, or more often in the event that circumstances indicate a change in cost has occurred. Work in process and finished goods include material, labor, and production overhead costs. The Company adjusts the value of its inventory to the extent that management determines that the cost cannot be recovered due to obsolescence or other factors. Inventory valuation adjustments for excess and obsolete inventory are calculated based on current inventory levels, movement, expected useful lives, and estimated future demand of the products and spare parts.
Receivable [Policy Text Block]	Contracts Assets not Contract assets also include unbilled receivables, which usually comprise the last invoice remaining after the delivery of the water treatment unit, where revenue is recognized at the transfer of control based upon signed acceptance of the water treatment unit by the customer. Most commonly this invoice is sent to the customer at commissioning of the product or no 12
Lessee, Leases [Policy Text Block]	Leases -- February 2016, No. 2016 02, 842” On January 1, 2019, 842 not 12 not not may 842 not
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment -- three ten
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and Intangible Assets -- not Acquired intangible assets with determinable useful lives are amortized on a straight-line or accelerated basis over the estimated periods benefited, ranging from one ten five The Company evaluates the recoverability of long-lived assets by comparing the carrying amount of an asset to estimated future net undiscounted cash flows generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured as the amount by which the carrying value of the assets exceeds the fair value of the assets. The evaluation of recoverability involves estimates of future operating cash flows based upon certain forecasted assumptions, including, but not Goodwill is not
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition -- January 1, 2018, 606, 2015, 2016 2017 January 1, 2018. not The Company sells products throughout the world; sales by geographical region are as follows for the year ended December 31, 2020 2019: For the Year Ended December 31 2020 2019 United States and Canada $ 656,032 $ 1,600,298 Australia 524,255 425,560 Asia 3,372,286 5,991,440 Europe 17,973,628 24,620,186 $ 22,526,201 $ 32,637,484 The Company’s sales by product line are as follows for the years ended December 31, 2020 2019: For the Year Ended December 31 2020 2019 Liquid filters and systems $ 14,147,842 $ 25,464,614 Ceramic diesel particulate 5,131,891 5,652,686 Plastics 2,647,366 895,203 Development projects 599,102 625,981 $ 22,526,201 $ 32,637,484 For membranes, diesel particulate filters and plastic components, revenue is recognized when performance obligations under the terms of a contract with the customer are satisfied, which occurs when control of the product transfers to the customer or when services are rendered by the Company. The majority of the Company's sales contracts contain performance obligations satisfied at a point in time when title and risks and rewards of ownership have transferred to the customer. This generally occurs when the product is shipped or accepted by the customer. Revenue for service contracts is recognized as the services are provided. Revenue is measured as the amount of consideration expected to be received in exchange for transferring the goods or providing services. The satisfaction of performance obligations under the terms of a revenue contract generally gives rise to the right for payment from the customer. The Company's standard payment terms vary by the type and location of the customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not not For contracts with customers that include multiple performance obligations, judgment is required to determine whether performance obligations specified in these contracts are distinct and should be accounted for as separate revenue transactions for recognition purposes. For such arrangements, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are generally determined based on the prices charged to customers or using expected cost-plus margin. System sales are recognized when the Company transfers control to the customer based upon sales and delivery conditions stated in the sales contract. This typically occurs upon shipment of the system from the production facility but can also occur upon other agreed delivery terms. In connection with the completion of the system, it is normal procedure to issue a FAT (Factory Acceptance Test) stating that the customer has accepted the performance of the system as it is being shipped from our production facility in Hobro. As part of the performance obligation, the customer is normally offered commissioning services (final assembly and configuration at a place designated by the customer), and this commissioning is therefore considered a second second first Aftermarket sales represent parts, extended warranties and maintenance services. For the sale of aftermarket parts, the Company transfers control and recognizes revenue when parts are shipped to the customer. When customers are given the right to return eligible parts and accessories, the Company estimates the expected returns based on an analysis of historical experience. The Company adjusts estimated revenues at the earlier of when the most likely amount of consideration expected to be received changes or when the consideration becomes fixed. The Company recognizes revenue for extended warranty and maintenance agreements based on the standalone selling price over the life of the contract. The Company has received long-term contracts for grants from government entities for the development and use of silicon carbide membranes in various water filtration and treatment applications and historically in the installation of various water filtrations systems. We measure transfer of control of the performance obligation on long-term contracts utilizing the cost-to-cost measure of progress, with cost of revenue including direct costs, such as labor and materials. Under the cost-to-cost approach, the use of estimated costs to complete each performance obligation is a significant variable in the process of determining recognized revenue and a significant factor in the accounting for such performance obligations. The timing of when we bill our customers is generally dependent upon advance billings terms, milestone billings based on completion of certain phases of the work or when services are provided, or products are shipped. Projects with performance obligations recognized over time that have costs and estimated earnings recognized to date in excess of cumulative billings are reported on our balance sheet as Contract assets. Projects with performance obligations recognized over time that have cumulative billings in excess of costs and estimated earnings recognized to date are reported on our balance sheet as Contract liabilities. Contract assets are the Company’s rights to consideration in exchange for goods or services and is recognized when a performance obligation has been satisfied but has not third second The roll-forward of Contract Assets/Liabilities for the year ended December 31, 2020 December 31, 2019 2020 2019 Cost incurred $ 3,997,161 $ 3,960,199 Unbilled project deliveries 1,015,977 1,971,106 VAT 446,608 862,368 Other receivables 75,010 58,397 Prepayments (3,112,118 ) (1,732,231 ) Deferred Revenue (866,680 ) (876,286 ) $ 1,555,958 $ 4,243,553 Distributed as follows: Contract assets $ 2,708,136 $ 5,664,929 Contract liabilities (1,152,178 ) (1,421,376 ) $ 1,555,958 $ 4,243,553
Advertising Cost [Policy Text Block]	Advertising Cost -- December 31, 2020 2019,
Research and Development Expense, Policy [Policy Text Block]	Research and Development Cost -- December 31, 2020 2019
Income Tax, Policy [Policy Text Block]	Income Taxes -- 740:
Earnings Per Share, Policy [Policy Text Block]	Income/(Loss) Per Share -- 260, not
Share-based Payment Arrangement [Policy Text Block]	Stock Options and Awards -- 718, December 31, 2020 2019,
Warrant Liability [Policy Text Block]	Warrant Liability -- May 2020 480, 480” August 12, 2020, August 12, 2020
Fair Value Measurement, Policy [Policy Text Block]	Fair Value of Financial Instruments -- 820. three ● Level 1. ● Level 2. ● Level 3. no Unless otherwise disclosed, the fair value of the Company’s financial instruments including cash, accounts receivable, other receivables, prepaid expenses, accounts payable, accrued expenses approximate 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 -- March 2020, 2020 04, 848 December 31, 2022. On March 9, 2020, 2020 03, December 15, 2019 2020 03 January 1, 2020 no In December 2019, 2019 12, 740 December 15, 2020 March 1, 2021 not In August 2018, No. 2018 13, 820 December 15, 2019, 2018 13 January 1, 2020 no In November 2016, No. 2016 18, December 31, 2020, December 31, 2019, In June 2016, 2016 13, 326 2016 13. December 15, 2019 2016 13 January 1, 2020 no Other recent accounting pronouncements issued by the FASB did not not

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	2020 2019 Allowance for doubtful accounts at the beginning of the period $ 612,434 $ 971,772 Bad debt expense 320,270 25,044 Receivables written off during the periods (484,265 ) (362,244 ) Effect of currency translation 49,605 (22,138 ) Allowance for doubtful accounts at the end of the period $ 498,044 $ 612,434
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	For the Year Ended December 31 2020 2019 United States and Canada $ 656,032 $ 1,600,298 Australia 524,255 425,560 Asia 3,372,286 5,991,440 Europe 17,973,628 24,620,186 $ 22,526,201 $ 32,637,484
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Year Ended December 31 2020 2019 Liquid filters and systems $ 14,147,842 $ 25,464,614 Ceramic diesel particulate 5,131,891 5,652,686 Plastics 2,647,366 895,203 Development projects 599,102 625,981 $ 22,526,201 $ 32,637,484
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	2020 2019 Cost incurred $ 3,997,161 $ 3,960,199 Unbilled project deliveries 1,015,977 1,971,106 VAT 446,608 862,368 Other receivables 75,010 58,397 Prepayments (3,112,118 ) (1,732,231 ) Deferred Revenue (866,680 ) (876,286 ) $ 1,555,958 $ 4,243,553 Distributed as follows: Contract assets $ 2,708,136 $ 5,664,929 Contract liabilities (1,152,178 ) (1,421,376 ) $ 1,555,958 $ 4,243,553

Note 2 - Inventory (Tables)

Note 2 - Inventory (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	2020 2019 Furnace parts and supplies $ 471,622 $ 621,991 Raw materials 1,955,713 2,125,921 Work in process 2,394,481 1,624,499 Finished goods and filtration systems 1,424,171 1,492,135 Reserve for excess and obsolescence (723,949 ) (665,308 ) Net Inventory $ 5,522,038 $ 5,199,238

Note 3 - Property and Equipme_2

Note 3 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful Life 2020 2019 Production equipment 3 - 10 $ 8,599,728 $ 10,228,216 Production equipment - finance lease 3 - 10 4,528,695 1,113,412 Lab equipment 3 - 10 127,560 99,831 Computer equipment 3 - 5 805,001 484,943 Vehicles 3 - 5 115,525 143,373 Vehicles - finance lease 3 - 5 - 50,815 Furniture and fixture 5 1,218,386 1,202,155 Furniture and fixture - finance lease 5 290,505 198,045 Leasehold improvements 5 - 10 3,544,256 2,121,157 19,229,656 15,641,947 Less Accumulated Depreciation (7,518,657 ) (9,659,850 ) Less Accumulated Depreciation - finance lease (1,389,488 ) (1,156,145 ) Net Property and Equipment $ 10,321,511 $ 4,825,952

Note 4 - Leases (Tables)

Note 4 - Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Lessee, Operating and Finance Lease, Assets and Liabilities [Table Text Block]	December 31, 2020 December 31, 2019 Operating leases Operating lease right-of-use assets $ 4,947,734 $ 5,053,614 Operating lease liabilities – current $ 1,026,235 $ 999,685 Operating lease liabilities – long-term 4,159,225 4,141,855 Total operating lease liabilities $ 5,185,460 $ 5,141,540 Finance leases Property and equipment, at cost $ 4,819,201 $ 1,362,272 Accumulated depreciation (1,389,488 ) (1,156,145 ) Property and equipment, net $ 3,429,713 $ 206,127 Finance lease liabilities - current $ 394,839 $ 34,772 Finance lease liabilities – long-term 3,112,496 172,273 Total finance lease liabilities $ 3,507,335 $ 207,045 Weighted average remaining lease term: Operating leases 10.0 10.2 Finance leases 6.9 5.5 Weighted average discount rate: Operating leases 6.2 % 6.4 % Finance leases 2.8 % 3.9 %
Maturity of Operating and Finance Lease Liabilities [Table Text Block]	Operating lease Finance lease 2021 $ 1,053,748 $ 488,952 2022 961,452 487,224 2023 854,547 482,130 2024 687,013 483,167 2025 354,907 479,233 Thereafter 3,000,582 1,496,454 Total payment under lease agreements 6,912,249 3,917,160 Less imputed interest (1,726,789 ) (409,825 ) Total lease liability $ 5,185,460 $ 3,507,335

Note 5 - Intangible Assets (Tab

Note 5 - Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	2020 2019 Customer relationships $ 544,770 $ 494,315 Patent cost 204,731 135,683 749,501 629,998 Less Accumulated amortization (269,441 ) (141,282 ) Intangible assets, net $ 480,060 $ 488,716
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year ending December 31, Amortization Expenses 2021 117,488 2022 117,489 2023 117,488 2024 81,171 2025 8,535 Thereafter 37,889 $ 480,060

Note 7 - Agreements, Commitme_2

Note 7 - Agreements, Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	2020 2019 Balance at January 1, $ 813,288 $ 432,225 Warranty costs charged to cost of goods sold 348,241 707,079 Utilization charges against reserve (199,624 ) (315,556 ) Release of accrual related to expired warranties - - Foreign currency effect 94,708 (10,460 ) Balance at December 31, $ 1,056,613 $ 813,288

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2020 2019 Excess of tax over financial accounting $ 624,154 $ - Vacation accrual 1,971 3,908 Reserve for excess and obsolete inventory 151,288 152,680 Business tax credit carryover - 30,935 Deferred compensation 49,556 17,943 Net operating loss carryover 7,627,046 5,889,088 Excess of book over tax depreciation (610,694 ) (300,805 ) Excess of book over tax work in progress (817,131 ) (847,290 ) Valuation allowance (7,331,357 ) (5,285,222 ) $ (305,167 ) $ (338,763 ) Distributed as: Long-term deferred tax asset - - Long-term deferred tax liability (305,167 ) (338,763 ) $ (305,167 ) $ (338,763 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2020 2019 Computed tax at expected statutory rate $ (2,157,436 ) $ (54,104 ) State and local income taxes, net of federal benefit (76,055 ) (2,971 ) Non-US income taxed at different rates (35,454 ) 14,635 ) Deferred compensation (52,165 ) (6,508 ) Non-deductible expenses 2,243 4,794 Non-taxable income (75,562 ) - Valuation allowance 1,918,579 (227,182 ) Other 10,705 (25,916 ) Income tax expense (benefit) $ (465,145 ) $ (297,252 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2020 2019 Current income taxes: Danish $ (401,945 ) $ (311,189 ) Federal - - State - - Current tax (benefit) $ (401,945 ) $ (311,189 ) Deferred income taxes: Book in excess of tax depreciation $ (419,523 ) $ (61,808 ) Allowance for doubtful accounts - 752 Work in progress (44,862 ) 848,000 Net operating loss carryover (389,616 ) (344,870 ) Valuation allowance 844,826 (507,935 ) Deferred compensation (52,165 ) (6,508 ) Accrued vacation (16,707 ) (2 ) Reserve for obsolete inventory 14,847 86,308 Deferred tax expense (benefit) $ (63,200 ) $ 13,937 Total tax expense (benefit) $ (465,145 ) $ (297,252 )

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	For the Year Ended December 31 2020 2019 Net Income/(Loss) attributable to LiqTech International Inc. $ (9,808,360 ) $ 39,616 Weighted average number of common shares used in basic earnings per share 21,209,118 19,652,277 Effect of dilutive securities, stock options, warrants, and RSUs - 15,475 Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share 21,209,118 19,667,752

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	2020 Warrants outstanding at January 1 - Prefunded warrants issued in May 2020 515,000 Exercises and conversions - Warrants outstanding at December 31 515,000
Schedule of Stockholders' Equity Note, Warrants or Rights Activity [Table Text Block]	Base value of warrants, 515,000 warrants at $5 $ 2,575,000 Fair value adjustment 901,250 Balance at August 12, 2020 reclassified to equity $ 3,476,250
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	December 31, 2020 Number of units Weighted Average Grant-Date Fair value Aggregated Intrinsic Value Outstanding, December 31, 2019 133,747 $ 5.47 $ 50,824 Granted 44,430 6.47 - Vested and settled with share issuance (33,211 ) 4.15 - Forfeited (16,667 ) 8.32 - Outstanding, December 31, 2020 128,299 $ 5.79 $ 250,183

Note 11 - Segment Reporting (Ta

Note 11 - Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Year Ended December 31, Revenues 2020 2019 Water $ 13,615,904 $ 24,570,867 Ceramics 5,663,830 6,546,432 Plastics 2,647,366 895,203 Other 599,101 624,982 Total consolidated revenue $ 22,526,201 $ 32,637,484 For the Year Ended December 31, Income (Loss) 2020 2019 Water $ (1,083,578 ) $ 1,713,150 Ceramics (3,532,137 ) (600,939 ) Plastics (882,038 ) 49,440 Other (4,310,607 ) (1,122,035 ) Total consolidated Income (Loss) $ (9,808,360 ) $ 39,616 For the Year Ended December 31, Total assets 2020 2019 Water $ 14,033,107 $ 14,718,598 Ceramics 16,734,371 21,499,120 Plastics 2,022,381 2,177,791 Other 9,420,278 193,543 Total consolidated assets $ 42,210,137 $ 38,589,723

Note 12 - Significant Custome_2

Note 12 - Significant Customers / Concentration (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	For the Year Ended December 31, 2020 2019 Customer A 27 % 29 % Customer B 10 % 15 % Customer C - % 18 % December 31, 2020 December 31, 2019 Customer A 39 % 39 % Customer B 12 % - % Customer D 16 % - % Customer E - % 15 %

Schedule II Valuation and Qua_2

Schedule II Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Valuation Allowances and Reserves, Bad Debt Expense and Reserve for Obsolete Inventory [Table Text Block]	2020 2019 Bad debt expense 320,270 25,044 Reserve for obsolete inventory 266,021 127,293
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, 2020 Allowance for inventory obsolescence $ 665,308 $ 266,021 $ (207,380 ) $ 723,949 Allowance for doubtful accounts 612,434 320,270 (434,660 ) 498,044 Totals $ 1,277,742 $ 586,291 $ (642,040 ) $ 1,221,993 Year Ended December 31, 2019 Allowance for inventory obsolescence $ 1,111,795 $ 127,293 $ (573,780 ) $ 665,308 Allowance for doubtful accounts 971,772 25,044 (384,382 ) 612,434 Totals $ 2,083,567 $ 152,337 $ (958,162 ) $ 1,277,742
Valuation and Qualifying Accounts, Allowance for Credit Loss [Table Text Block]	2020 2019 Allowance for doubtful accounts at the beginning of the period $ 612,434 $ 971,772 Bad debt expense 320,270 25,044 Receivables written off during the periods (484,265 ) (362,244 ) Effect of currency translation 49,605 (22,138 ) Allowance for doubtful accounts at the end of the period $ 498,044 $ 612,434

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Aug. 12, 2020	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Jan. 01, 2019
General and Administrative Expense, Total		$ 6,205,040	$ 4,563,216
Nonoperating Income (Expense), Total		(2,018,398)	319,486
Restricted Cash and Cash Equivalents, Current, Total		1,515,620	2,714,173	$ 1,515,620
Cash, Uninsured Amount		0	0
Operating Lease, Right-of-Use Asset		4,947,734	5,053,614
Operating Lease, Liability, Total		5,185,460	5,141,540
Advertising Expense		96,977	117,404
Research and Development Expense, Total		1,278,331	749,249
Adjustments to Additional Paid in Capital, Warrant Issued		3,476,250
Cash and Cash Equivalents, at Carrying Value, Ending Balance			7,069,759	11,748,829
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance				$ 13,264,449
Additional Paid-in Capital [Member]
Adjustments to Additional Paid in Capital, Warrant Issued	$ 3,476,250	3,476,250
Employees [Member]
Share-based Payment Arrangement, Expense		$ 343,780	85,445
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		5 years
Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)		3 years
Finite-Lived Intangible Asset, Useful Life (Year)		1 year
Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)		10 years
Finite-Lived Intangible Asset, Useful Life (Year)		10 years
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset					$ 2,100,000
Operating Lease, Liability, Total					$ 2,100,000
Reclassification of Earn-Out Liability to Accrued Expenses [Member]
Business Combination, Contingent Consideration, Liability, Total		$ (330,164)
Revision of Prior Period, Reclassification, Adjustment [Member]
General and Administrative Expense, Total			184,772
Nonoperating Income (Expense), Total			$ 184,772
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%
LiqTech USA [Member]
Noncontrolling Interest, Ownership Percentage by Parent		100.00%

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended		24 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019
Allowance for doubtful accounts	$ 612,434	$ 971,772
Bad debt expense	320,270	25,044	$ 25,044
Receivables written off during the periods	(484,265)	(362,244)
Effect of currency translation	49,605	(22,138)
Allowance for doubtful accounts	$ 498,044	$ 612,434	$ 612,434

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Net Sales by Geographical Region (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Sales	$ 22,526,201	$ 32,637,484
Reportable Geographical Components [Member] | US And Canada [Member]
Net Sales	656,032	1,600,298
Reportable Geographical Components [Member] | AUSTRALIA
Net Sales	524,255	425,560
Reportable Geographical Components [Member] | Asia [Member]
Net Sales	3,372,286	5,991,440
Reportable Geographical Components [Member] | Europe [Member]
Net Sales	$ 17,973,628	$ 24,620,186

Note 1 - Summary of Significa_6

Note 1 - Summary of Significant Accounting Policies - Sales by Product Line (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Sales	$ 22,526,201	$ 32,637,484
Liquid Filters [Member]
Net Sales	14,147,842	25,464,614
Ceramic Diesel Particulate [Member]
Net Sales	5,131,891	5,652,686
Plastic Products [Member]
Net Sales	2,647,366	895,203
Development Projects [Member]
Net Sales	$ 599,102	$ 625,981

Note 1 - Summary of Significa_7

Note 1 - Summary of Significant Accounting Policies - Contract Assets and Liabilities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cost incurred	$ 3,997,161	$ 3,960,199
Unbilled project deliveries	1,015,977	1,971,106
VAT	446,608	862,368
Other receivables	75,010	58,397
Prepayments	(3,112,118)	(1,732,231)
Deferred Revenue	(866,680)	(876,286)
Contract with Customer, Asset (Liability), Net	1,555,958	4,243,553
Contract assets	2,708,136	5,664,929
Contract liabilities	(1,152,178)	(1,421,376)
Contract with Customer, Asset (Liability), Net	$ 1,555,958	$ 4,243,553

Note 2 - Inventory - Summary of

Note 2 - Inventory - Summary of Inventory (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Furnace parts and supplies	$ 471,622	$ 621,991
Raw materials	1,955,713	2,125,921
Work in process	2,394,481	1,624,499
Finished goods and filtration systems	1,424,171	1,492,135
Reserve for excess and obsolescence	(723,949)	(665,308)
Net Inventory	$ 5,522,038	$ 5,199,238

Note 3 - Property and Equipme_3

Note 3 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Depreciation, Total	$ 1,857,111	$ 737,007

Note 3 - Property and Equipme_4

Note 3 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property and equipment, gross	$ 19,229,656	$ 15,641,947
Less Accumulated Depreciation	(8,908,145)	(10,815,995)
Net Property and Equipment	10,321,511	4,825,952
Production Equipment [Member]
Property and equipment, gross	8,599,728	10,228,216
Production Equipment Under Finance Lease [Member]
Property and equipment, gross	4,528,695	1,113,412
Lab Equipment [Member]
Property and equipment, gross	127,560	99,831
Computer Equipment [Member]
Property and equipment, gross	805,001	484,943
Vehicles [Member]
Property and equipment, gross	115,525	143,373
Vehicles Under Finance Lease [Member]
Property and equipment, gross	$ 0	50,815
Furniture and Fixtures [Member]
Useful Life (Year)	5 years
Property and equipment, gross	$ 1,218,386	1,202,155
Furniture and Fixtures Under Finance Lease [Member]
Useful Life (Year)	5 years
Property and equipment, gross	$ 290,505	198,045
Leasehold Improvements [Member]
Property and equipment, gross	3,544,256	2,121,157
Property, Plant and Equipment Not Under Finance Lease [Member]
Less Accumulated Depreciation	(7,518,657)	(9,659,850)
Property, Plant and Equipment Under Finance Lease [Member]
Less Accumulated Depreciation	$ (1,389,488)	$ (1,156,145)
Minimum [Member]
Useful Life (Year)	3 years
Minimum [Member] | Production Equipment [Member]
Useful Life (Year)	3 years
Minimum [Member] | Production Equipment Under Finance Lease [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
Minimum [Member] | Vehicles Under Finance Lease [Member]
Useful Life (Year)	3 years
Minimum [Member] | Leasehold Improvements [Member]
Useful Life (Year)	5 years
Maximum [Member]
Useful Life (Year)	10 years
Maximum [Member] | Production Equipment [Member]
Useful Life (Year)	10 years
Maximum [Member] | Production Equipment Under Finance Lease [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
Maximum [Member] | Vehicles Under Finance Lease [Member]
Useful Life (Year)	5 years
Maximum [Member] | Leasehold Improvements [Member]
Useful Life (Year)	10 years

Note 4 - Leases (Details Textua

Note 4 - Leases (Details Textual)	12 Months Ended
	Dec. 31, 2020USD ($)
Operating Lease, Payments	$ 1,113,504
Finance Lease, Principal Payments	43,770
Operating Expense [Member]
Operating Lease, Expense	1,290,362
Other Nonoperating Income (Expense) [Member]
Operating Lease, Expense	$ 114,792

Note 4 - Leases - Balance Sheet

Note 4 - Leases - Balance Sheet Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Operating Lease, Right-of-Use Asset	$ 4,947,734	$ 5,053,614
Operating lease liabilities – current	1,026,235	999,685
Operating lease liabilities – long-term	4,159,225	4,141,855
Operating Lease, Liability, Total	5,185,460	5,141,540
Property and equipment, at cost	4,819,201	1,362,272
Accumulated depreciation	(1,389,488)	(1,156,145)
Property and equipment, net	3,429,713	206,127
Finance lease liabilities - current	394,839	34,772
Finance lease liabilities – long-term	3,112,496	172,273
Total finance lease liability	$ 3,507,335	$ 207,045
Operating leases (Year)	10 years	10 years 2 months 12 days
Finance leases (Year)	6 years 10 months 24 days	5 years 6 months
Operating leases	6.20%	6.40%
Finance leases	2.80%	3.90%

Note 4 - Leases - Maturities of

Note 4 - Leases - Maturities of Lease Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Operating lease, 2021	$ 1,053,748
Finance lease, 2021	488,952
Operating lease, 2022	961,452
Finance lease, 2022	487,224
Operating lease, 2023	854,547
Finance lease, 2023	482,130
Operating lease, 2024	687,013
Finance lease, 2024	483,167
Operating lease, 2025	354,907
Finance lease, 2025	479,233
Operating lease, thereafter	3,000,582
Finance lease, thereafter	1,496,454
Total payment under operating lease agreements	6,912,249
Total payment under finance lease agreements	3,917,160
Less imputed interest on operating lease	(1,726,789)
Less imputed interest on finance lease	(409,825)
Operating Lease, Liability, Total	5,185,460	$ 5,141,540
Total finance lease liability	$ 3,507,335	$ 207,045

Note 5 - Intangible Assets - Sc

Note 5 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Intangible assets	$ 749,501	$ 629,998
Less Accumulated amortization	(269,441)	(141,282)
Intangible assets, net	480,060	488,716
Customer Relationships [Member]
Intangible assets	544,770	494,315
Patents [Member]
Intangible assets	$ 204,731	$ 135,683

Note 5 - Intangible Assets - Ex

Note 5 - Intangible Assets - Expected Future Amortization Expense (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
2021	$ 117,488
2022	117,489
2023	117,488
2024	81,171
2025	8,535
Thereafter	37,889
Intangible assets, net	$ 480,060	$ 488,716

Note 6 - Lines of Credit (Detai

Note 6 - Lines of Credit (Details Textual)	Dec. 31, 2020USD ($)	Dec. 31, 2020DKK (kr)	Dec. 13, 2020DKK (kr)
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,650,000	kr 10,000,000
Security Deposit	1,500,000
Guarantor Obligations, Current Carrying Value	$ 15,620		kr 94,620

Note 7 - Agreements, Commitme_3

Note 7 - Agreements, Commitments and Contingencies (Details Textual)	Feb. 27, 2019USD ($)	Feb. 27, 2019DKK (kr)	Nov. 20, 2018USD ($)	Nov. 20, 2018DKK (kr)	Dec. 31, 2020USD ($)	Dec. 31, 2020DKK (kr)	Dec. 31, 2019USD ($)
Defined Contribution Plan, Cost					$ 13,514		$ 10,283
Minimum [Member]
Standard Product Warranty, Term (Year)					1 year	1 year
Maximum [Member]
Standard Product Warranty, Term (Year)					3 years	3 years
Extended Product Warranty, Term (Year)					4 years	4 years
LiqTech Ceramics [Member] | Claim with Former Supplier for Breach of Agreement [Member]
Loss Contingency, Damages Sought, Value			$ 68,800	kr 448,500
Litigation Settlement, Amount Awarded to Other Party					$ 96,900	kr 587,000
LiqTech International AS [Member] | Claim with Former Supplier for Services Rendered [Member]
Loss Contingency, Damages Sought, Value	$ 89,800	kr 543,905
Joint Venture Agreement [Member]
Equity Method Investment, Ownership Percentage					49.00%	49.00%

Note 7 - Agreements, Commitme_4

Note 7 - Agreements, Commitments and Contingencies - Changes in Warranty Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance	$ 813,288	$ 432,225
Warranty costs charged to cost of goods sold	348,241	707,079
Utilization charges against reserve	(199,624)	(315,556)
Release of accrual related to expired warranties	0	0
Foreign currency effect	94,708	(10,460)
Balance	$ 1,056,613	$ 813,288

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets, Valuation Allowance, Total	$ 7,331,357	$ 5,285,222
LiqTech International Inc and LiqTech NA [Member]
Deferred Tax Assets, Valuation Allowance, Total	5,394,000	3,845,000
LiqTech International AS and LiqTech Systems AS [Member]
Deferred Tax Assets, Valuation Allowance, Total	1,682,000	1,209,000
LiqTech Germany [Member]
Deferred Tax Assets, Valuation Allowance, Total	143,000	129,000
LiqTech Singapore [Member]
Deferred Tax Assets, Valuation Allowance, Total	113,000	102,000
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards, Total	21,618,896
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 1,549,000	416,000
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]
Operating Loss Carryforwards, Expiration Year	2038
Foreign Tax Authority [Member] | Danish Ministry of Taxation [Member]
Operating Loss Carryforwards, Total	$ 8,996,626
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	473,000	(637,000)
Foreign Tax Authority [Member] | Federal Ministry of Finance, Germany [Member]
Operating Loss Carryforwards, Total	511,385
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	14,000	(3,000)
Foreign Tax Authority [Member] | Inland Revenue, Singapore (IRAS) [Member]
Operating Loss Carryforwards, Total	664,423
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 11,000	$ (2,000)

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Excess of tax over financial accounting	$ 624,154	$ 0
Vacation accrual	1,971	3,908
Reserve for excess and obsolete inventory	151,288	152,680
Business tax credit carryover	0	30,935
Deferred compensation	49,556	17,943
Net operating loss carryover	7,627,046	5,889,088
Excess of book over tax depreciation	(610,694)	(300,805)
Excess of book over tax work in progress	(817,131)	(847,290)
Valuation allowance	(7,331,357)	(5,285,222)
Deferred Tax Liabilities, Net, Total	(305,167)	(338,763)
Long-term deferred tax asset	0	0
Long-term deferred tax liability	(305,167)	(338,763)
Deferred Income Tax Liabilities, Net, Total	$ (305,167)	$ (338,763)

Note 8 - Income Taxes - Reconci

Note 8 - Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Computed tax at expected statutory rate	$ (2,157,436)	$ (54,104)
State and local income taxes, net of federal benefit	(76,055)	(2,971)
Non-US income taxed at different rates	(35,454)	14,635
Deferred compensation	(52,165)	(6,508)
Non-deductible expenses	2,243	4,794
Non-taxable income	(75,562)	0
Valuation allowance	1,918,579	(227,182)
Other	10,705	(25,916)
Total tax expense (benefit)	$ (465,145)	$ (297,252)

Note 8 - Income Taxes - Compone

Note 8 - Income Taxes - Components of Income Tax Expense (Benefit) from Continuing Operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current income taxes:
Federal	$ 0	$ 0
State	0	0
Current tax (benefit)	(401,945)	(311,189)
Book in excess of tax depreciation	(419,523)	(61,808)
Allowance for doubtful accounts	0	752
Work in progress	(44,862)	848,000
Net operating loss carryover	(389,616)	(344,870)
Valuation allowance	844,826	(507,935)
Deferred compensation	(52,165)	(6,508)
Accrued vacation	(16,707)	(2)
Reserve for obsolete inventory	14,847	86,308
Deferred tax expense (benefit)	(63,200)	13,937
Total tax expense (benefit)	(465,145)	(297,252)
Danish Ministry of Taxation [Member]
Current income taxes:
Danish	$ (401,945)	$ (311,189)

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share)		$ 2.96
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	128,299	125,293
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	515,000
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)		25,000

Note 9 - Earnings Per Share - A

Note 9 - Earnings Per Share - Amounts Used in Computing Earnings Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net Income/(Loss) attributable to LiqTech International Inc.	$ (9,808,360)	$ 39,616
Weighted average number of common shares used in basic earnings per share (in shares)	21,209,118	19,652,277
Effect of dilutive securities, stock options, warrants, and RSUs (in shares)	0	15,475
Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share (in shares)	21,209,118	19,667,752

Note 10 - Stockholders' Equit_2

Note 10 - Stockholders' Equity (Details Textual) - USD ($)	Jun. 06, 2020	May 21, 2020	Jan. 15, 2020	Aug. 18, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2013	Dec. 31, 2020	Dec. 31, 2018
Common Stock, Shares Authorized (in shares)					25,000,000	25,000,000		25,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.001			$ 0.001	$ 0.001		$ 0.001
Common Stock, Shares, Outstanding, Ending Balance (in shares)					21,655,461	20,547,668		21,655,461
Preferred Stock, Shares Authorized (in shares)					2,500,000	2,500,000		2,500,000
Preferred Stock, Shares Issued, Total (in shares)					0	0		0
Stock Issued During Period, Shares, New Issues (in shares)		1,085,000
Shares Issued, Price Per Share (in dollars per share)		$ 5							$ 7.25
Proceeds from Issuance of Common Stock		$ 4,662,125			$ 4,662,127	$ 14,516,839
Payments of Stock Issuance Costs		$ 762,875
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		515,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 5
Proceeds from Issuance of Warrants		$ 2,575,000			2,575,000	0
Proceeds from Stock Options Exercised					18,500	133,200
The Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		515,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 5
Stock Awards Other than Options [Member]
Share-based Payment Arrangement, Expense					343,780	197,945
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expense					$ 343,780	$ 197,945
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)					128,299	133,747		128,299
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					44,430		25,000	92,081
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)							3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Annual Grant							$ 35,000
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount					$ 472,778			$ 472,778
The 2015 Stock Option Plan [Member]
Shares Issued, Price Per Share (in dollars per share)				$ 2.96
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)				6,248
Proceeds from Stock Options Exercised				$ 18,500
The 2011 Stock Options Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)					0			0
Director [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)	8,333		8,212
Stock Issued During Period, Value, Issued for Services	$ 69,333		$ 45,000
Board of Directors Chairman [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Annual Grant							$ 70,000
Convertible Preferred Stock [Member]
Preferred Stock, Shares Issued, Total (in shares)					0	0		0

Note 10 - Stockholders' Equit_3

Note 10 - Stockholders' Equity - Warrants (Details)	12 Months Ended
	Dec. 31, 2020shares
Warrants outstanding at January 1 (in shares)	0
Prefunded warrants issued in May 2020 (in shares)	515,000
Exercises and conversions (in shares)	0
Warrants outstanding at December 31 (in shares)	515,000

Note 10 - Stockholders' Equit_4

Note 10 - Stockholders' Equity - Fair Value Measurement of Warrant Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Base value of warrants, 515,000 warrants at $5	$ 2,575,000
Fair value adjustment	901,250	$ 0
Balance at August 12, 2020 reclassified to equity	$ 3,476,250	$ 2,575,000

Note 10 - Stockholders' Equit_5

Note 10 - Stockholders' Equity - Fair Value Measurement of Warrant Liability (Details) (Parentheticals) - $ / shares	Dec. 31, 2020	May 21, 2020	Dec. 31, 2019
Warrants (in shares)	515,000		0
Warrants, exercise price (in dollars per share)		$ 5

Note 10 - Stockholders' Equit_6

Note 10 - Stockholders' Equity - Share Incentive Plan Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)	12 Months Ended		42 Months Ended
	Dec. 31, 2020	Dec. 31, 2013	Dec. 31, 2020	Dec. 31, 2019
Outstanding, units (in shares)	133,747
Outstanding, weighted average grant-date fair value (in dollars per share)	$ 5.47
Outstanding, aggregated intrinsic value	$ 250,183		$ 250,183	$ 50,824
Granted, units (in shares)	44,430	25,000	92,081
Granted, weighted average grant-date fair value (in dollars per share)	$ 6.47
Vested and settled with share issuance, units (in shares)	(33,211)
Vested and settled with share issuance, weighted average grant-date fair value (in dollars per share)	$ 4.15
Forfeited, units (in shares)	(16,667)
Forfeited, weighted average grant-date fair value (in dollars per share)	$ 8.32
Outstanding, units (in shares)	128,299		128,299
Outstanding, weighted average grant-date fair value (in dollars per share)	$ 5.79		$ 5.79

Note 11 - Segment Reporting - S

Note 11 - Segment Reporting - Summary of Segment Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total Revenue	$ 22,526,201	$ 32,637,484
Total consolidated Income (Loss)	(9,808,360)	39,616
Segment assets	42,210,137	38,589,723
Water Segment [Member]
Total Revenue	13,615,904	24,570,867
Total consolidated Income (Loss)	(1,083,578)	1,713,150
Segment assets	14,033,107	14,718,598
Ceramics Segment [Member]
Total Revenue	5,663,830	6,546,432
Total consolidated Income (Loss)	(3,532,137)	(600,939)
Segment assets	16,734,371	21,499,120
Plastic Products [Member]
Total Revenue	2,647,366	895,203
Total consolidated Income (Loss)	(882,038)	49,440
Segment assets	2,022,381	2,177,791
Other Segments [Member]
Total Revenue	599,101	624,982
Total consolidated Income (Loss)	(4,310,607)	(1,122,035)
Segment assets	$ 9,420,278	$ 193,543

Note 12 - Significant Custome_3

Note 12 - Significant Customers / Concentration (Details Textual) - Geographic Concentration Risk [Member] - Assets, Total [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
DENMARK
Concentration Risk, Percentage	100.00%	91.00%
UNITED STATES
Concentration Risk, Percentage	0.00%	9.00%

Note 12 - Significant Custome_4

Note 12 - Significant Customers / Concentration - Concentration of Risk (Details) - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue Benchmark [Member] | Customer A [Member]
Concentration Risk, Percentage	27.00%	29.00%
Revenue Benchmark [Member] | Customer B [Member]
Concentration Risk, Percentage	10.00%	15.00%
Revenue Benchmark [Member] | Customer C [Member]
Concentration Risk, Percentage		18.00%
Accounts Receivable [Member] | Customer A [Member]
Concentration Risk, Percentage	39.00%	39.00%
Accounts Receivable [Member] | Customer B [Member]
Concentration Risk, Percentage	12.00%
Accounts Receivable [Member] | Customer D [Member]
Concentration Risk, Percentage	16.00%	0.00%
Accounts Receivable [Member] | Customer E [Member]
Concentration Risk, Percentage		15.00%

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual) - USD ($)	Mar. 24, 2021	Mar. 24, 2021	Feb. 26, 2021	Jan. 06, 2021	May 21, 2020	Dec. 31, 2020	Dec. 31, 2019
Stock Issued During Period, Shares, New Issues (in shares)					1,085,000
Common Stock, Par or Stated Value Per Share (in dollars per share)					$ 0.001	$ 0.001	$ 0.001
Subsequent Event [Member] | March 2021 Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	80,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Debt Instrument, Purchase Price Upon the Satisfaction of Conditions in the Agreement, Amount		$ 15,000,000
Subsequent Event [Member] | Senior Convertible Note Due in 2023 [Member]
Debt Instrument, Face Amount	$ 15,000,000	$ 15,000,000
Board of Directors Chairman [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)				11,218
Stock Issued During Period, Value, Issued for Services				$ 70,000
Management [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)			30,694
Stock Issued During Period, Value, Issued for Services			$ 166,667

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts - Bad Debt Expense and Reserves for Obsolete Inventory (Details) - USD ($)	12 Months Ended		24 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019
Bad debt expense	$ 320,270	$ 25,044	$ 25,044
Reserve for obsolete inventory	$ 266,021		$ 127,293

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Balance Beginning of Year		$ 1,277,742	$ 2,083,567
Charges to Costs and Expenses		586,291	152,337
Deductions	[1]	(642,040)	(958,162)
Balance End of Year		1,221,993	1,277,742
SEC Schedule, 12-09, Reserve, Inventory [Member]
Balance Beginning of Year		665,308	1,111,795
Charges to Costs and Expenses		266,021	127,293
Deductions	[1]	(207,380)	(573,780)
Balance End of Year		723,949	665,308
SEC Schedule, 12-09, Allowance, Credit Loss [Member]
Balance Beginning of Year		612,434	971,772
Charges to Costs and Expenses		320,270	25,044
Deductions	[1]	(434,660)	(384,382)
Balance End of Year		$ 498,044	$ 612,434
[1]	Includes write-offs, the impact of foreign currency exchange rates.

Schedule II - Valuation and Q_3

Schedule II - Valuation and Qualifying Accounts - Rollforward for Allowance for Doubtful Accounts (Details) - USD ($)	12 Months Ended		24 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019
Allowance for doubtful accounts	$ 612,434	$ 971,772
Bad debt expense	320,270	25,044	$ 25,044
Receivables written off during the periods	(484,265)	(362,244)
Effect of currency translation	49,605	(22,138)
Allowance for doubtful accounts	$ 498,044	$ 612,434	$ 612,434