LiqTech International (LIQT) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 15, 2021
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	Q3
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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	3131 5941
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	LIQT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,285,706

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and restricted cash	$ 20,692,339	$ 13,264,449
Accounts receivable, net of allowance for doubtful accounts of $519,157 and $498,044 at September 30, 2021 and December 31, 2020, respectively	2,233,586	3,129,109
Inventories, net of allowance for excess and obsolete inventory of $622,215 and $723,949 at September 30, 2021 and December 31, 2020, respectively	5,117,362	5,522,038
Contract assets	1,939,107	2,708,136
Prepaid expenses and other current assets	686,112	1,031,194
Total Current Assets	30,668,506	25,654,926
Long-Term Assets:
Property and equipment, net of accumulated depreciation of $8,337,314 and $8,908,145 at September 30, 2021 and December 31, 2020, respectively	9,345,299	10,321,511
Operating lease right-of-use assets	7,246,422	4,947,734
Deposits and other assets	517,847	545,673
Intangible assets, net of accumulated amortization of $336,961 and $269,441 at September 30, 2021 and December 31, 2020, respectively	370,012	480,060
Goodwill	245,467	260,233
Total Long-Term Assets	17,725,047	16,555,211
Total Assets	48,393,553	42,210,137
Current Liabilities:
Accounts payable	2,023,985	2,332,151
Accrued expenses	4,363,370	4,908,961
Current portion of finance lease obligations	379,726	394,839
Current portion of operating lease liabilities	781,235	1,026,235
Current portion of convertible note payable	5,880,000	0
Contract liabilities	908,172	1,152,748
Total Current Liabilities	14,336,488	9,814,934
Convertible note payable, net of discount of $2,504,462 and $0 at September 30, 2021 and December 31, 2020, respectively	8,415,538	0
Deferred tax liability	245,262	305,167
Other liabilities, net of current portion	564,621	0
Finance lease obligations, net of current portion	2,650,139	3,112,496
Operating lease liabilities, net of current portion	6,485,282	4,159,225
Total Long-term Liabilities	18,360,842	7,576,888
Total Liabilities	32,697,330	17,391,822
Stockholders' Equity:
Common stock; par value $0.001, 100,000,000 shares authorized, 21,285,706 and 21,655,461 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	21,285	21,655
Additional paid-in capital	70,784,780	69,897,698
Accumulated deficit	(50,516,461)	(42,054,968)
Accumulated other comprehensive loss	(4,593,381)	(3,046,070)
Total Stockholders' Equity	15,696,223	24,818,315
Total Liabilities and Stockholders' Equity	$ 48,393,553	$ 42,210,137

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Accounts receivable, allowance for doubtful accounts	$ 519,157	$ 498,044
Inventories, allowance for excess and obsolete inventory	622,215	723,949
Property and equipment, accumulated depreciation	8,337,314	8,908,145
Intangible assets, accumulated depreciations	$ 336,961	$ 269,441
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, shared outstanding (in shares)	0	0
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)	21,285,706	21,655,461
Common stock, shares outstanding (in shares)	21,285,706	21,655,461
Convertible Debt [Member]
Debt unamortized discount	$ 2,504,462	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 4,142,954	$ 3,543,730	$ 12,157,394	$ 18,467,057
Cost of goods sold	3,946,732	3,852,210	11,525,847	15,641,998
Gross Profit	196,222	(308,480)	631,547	2,825,059
Operating Expenses:
Selling expenses	1,205,849	741,738	3,417,933	2,024,485
General and administrative expenses	1,102,772	1,526,327	3,824,574	4,585,857
Research and development expenses	497,823	256,239	1,370,059	883,752
Total Operating Expense	2,806,444	2,524,304	8,612,566	7,494,094
Loss from Operations	(2,610,222)	(2,832,784)	(7,981,019)	(4,669,035)
Other Income (Expense)
Interest and other income	0	8,164	0	12,901
Gain on modification of earn-out liability	0	301,573	0	301,573
Interest expense	(235,318)	(41,388)	(491,335)	(102,926)
Amortization discount on convertible note	(292,129)	0	(543,933)	0
Fair value adjustment of warrants	0	(664,350)	0	(901,250)
Gain (Loss) on currency transactions	218,030	(660,747)	506,018	(821,681)
Gain on sale of fixed assets	(8)	0	1,126	0
Total Other Income (Expense)	(309,425)	(1,056,748)	(528,124)	(1,511,383)
Loss Before Income Taxes	(2,919,647)	(3,889,532)	(8,509,143)	(6,180,418)
Income Tax Benefit	(15,691)	(16,113)	(47,650)	(46,687)
Net Loss	$ (2,903,956)	$ (3,873,419)	$ (8,461,493)	$ (6,133,731)
Basic and Diluted Loss Per Share (in dollars per share)	$ (0.13)	$ (0.18)	$ (0.39)	$ (0.29)
Basic and Diluted Weighted Average Common Shares Outstanding (in shares)	21,540,688	21,653,514	21,661,945	21,059,251

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net (Loss)	$ (2,903,956)	$ (3,873,419)	$ (8,461,493)	$ (6,133,731)
Currency translation, net	(603,894)	1,422,294	(1,547,311)	1,666,112
Total Comprehensive Loss	$ (3,507,850)	$ (2,451,125)	$ (10,008,804)	$ (4,467,619)

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
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
Common stock issued in settlement of RSUs (in shares)	8,212
Common stock issued in settlement of RSUs	$ 8	44,992			45,000
Stock-based compensation		96,222			96,222
Currency translation, net				(495,959)	(495,959)
Net (Loss)			303,499		303,499
BALANCE (in shares) at Mar. 31, 2020	20,555,880
BALANCE at Mar. 31, 2020	$ 20,556	61,539,364	(31,943,109)	(6,662,518)	22,954,293
Currency translation, net				(495,959)	(495,959)
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
Currency translation, net					1,666,112
Net (Loss)					(6,133,731)
BALANCE (in shares) at Sep. 30, 2020	21,655,461
BALANCE at Sep. 30, 2020	$ 21,655	69,824,156	(38,380,339)	(4,500,447)	26,965,025
Currency translation, net					1,666,112
BALANCE (in shares) at Mar. 31, 2020	20,555,880
BALANCE at Mar. 31, 2020	$ 20,556	61,539,364	(31,943,109)	(6,662,518)	22,954,293
Common stock issued in settlement of RSUs (in shares)	8,333
Common stock issued in settlement of RSUs	$ 8	(8)
Stock-based compensation		82,335			82,335
Currency translation, net				739,777	739,777
Net (Loss)			(2,563,811)		(2,563,811)
BALANCE (in shares) at Jun. 30, 2020	21,649,213
BALANCE at Jun. 30, 2020	$ 21,649	66,364,654	(34,506,920)	(5,922,741)	25,956,642
Common shares issued for cash at $5.00 per share, net of offering cost of $680,952 (in shares)	1,085,000
Common shares issued for cash at $5.00 per share, net of offering cost of $680,952	$ 1,085	4,742,963			4,744,048
Currency translation, net				739,777	739,777
Additional offering cost of $81,923, related to the capital raise in May 2020					(680,952)
Stock-based compensation		46,681			46,681
Currency translation, net				1,422,294	1,422,294
Net (Loss)			(3,873,419)		(3,873,419)
BALANCE (in shares) at Sep. 30, 2020	21,655,461
BALANCE at Sep. 30, 2020	$ 21,655	69,824,156	(38,380,339)	(4,500,447)	26,965,025
Currency translation, net				1,422,294	1,422,294
Prefunded warrants, 515,000, transferred to equity upon modification in August 2020		3,476,250			3,476,250
Additional offering cost of $81,923, related to the capital raise in May 2020		(81,923)			(81,923)
Exercise of stock options (in shares)	6,248
Exercise of stock options	$ 6	18,494			18,500
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
Common stock issued in settlement of RSUs (in shares)	41,912
Common stock issued in settlement of RSUs	$ 42	(42)
Stock-based compensation		102,388			102,388
Currency translation, net				(1,311,521)	(1,311,521)
Net (Loss)			(2,459,429)		(2,459,429)
BALANCE (in shares) at Mar. 31, 2021	21,697,373
BALANCE at Mar. 31, 2021	$ 21,697	70,000,044	(44,514,397)	(4,357,591)	21,149,753
Currency translation, net				(1,311,521)	(1,311,521)
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
Currency translation, net					(1,547,311)
Net (Loss)					(8,461,493)
BALANCE (in shares) at Sep. 30, 2021	21,285,706
BALANCE at Sep. 30, 2021	$ 21,285	70,784,780	(50,516,461)	(4,593,381)	15,696,223
Currency translation, net					(1,547,311)
BALANCE (in shares) at Mar. 31, 2021	21,697,373
BALANCE at Mar. 31, 2021	$ 21,697	70,000,044	(44,514,397)	(4,357,591)	21,149,753
Stock-based compensation		125,076			125,076
Currency translation, net				368,104	368,104
Net (Loss)			(3,098,108)		(3,098,108)
Common stock issued as commitment fee for Convertible Note (in shares)	80,000
Common stock issued as commitment fee for Convertible Note	$ 80	531,649			531,729
BALANCE (in shares) at Jun. 30, 2021	21,777,373
BALANCE at Jun. 30, 2021	$ 21,777	70,656,769	(47,612,505)	(3,989,487)	19,076,554
Currency translation, net				368,104	368,104
Common stock issued in settlement of RSUs (in shares)	8,333
Common stock issued in settlement of RSUs	$ 8	(8)
Stock-based compensation		127,519			127,519
Currency translation, net				(603,894)	(603,894)
Net (Loss)			(2,903,956)		(2,903,956)
Exchange of common stock to prefunded warrants (in shares)	(500,000)
Exchange of common stock to prefunded warrants	$ (500)	500
BALANCE (in shares) at Sep. 30, 2021	21,285,706
BALANCE at Sep. 30, 2021	$ 21,285	$ 70,784,780	$ (50,516,461)	(4,593,381)	15,696,223
Currency translation, net				$ (603,894)	$ (603,894)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Shares issued, offering cost	$ 81,923	$ 680,952
Shares issued, offering cost per share (in dollars per share)		$ 5
Prefunded warrants, transferred to equity (in shares)	515,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net (Loss)	$ (8,461,493)	$ (6,133,731)
Adjustments to reconcile net loss to net cash provided by (used in) operations:
Depreciation and amortization	1,968,011	2,019,147
Amortization of discount on convertible notes payable	543,933	0
Stock-based compensation	354,983	270,238
Change in fair value of warrant liability	0	901,250
Gain on modification of earn-out liability	0	(301,573)
Change in deferred tax asset / liability	(47,650)	(46,687)
Gain on sale of fixed assets	(1,126)	0
Changes in assets and liabilities:
Accounts receivable	741,514	2,635,995
Inventory	94,319	(767,300)
Contract assets	628,368	2,656,388
Prepaid expenses and other current assets	299,949	(82,756)
Accounts payable	(188,035)	(2,646,520)
Accrued expenses	599,086	1,451,421
Operating lease liabilities	(755,503)	(565,209)
Contract liabilities	(184,447)	(6,242)
Total Adjustments	4,053,402	5,530,636
Net Cash used in Operating Activities	(4,408,091)	(603,095)
Cash Flows from Investing Activities:
Purchase of property and equipment	(932,293)	(2,904,169)
Purchase of other intangible assets	0	(23,932)
Proceeds from sale of fixed assets	1,126	0
Net cash paid for earn-out agreement	(321,574)	(301,573)
Net Cash used in Investing Activities	(1,252,741)	(3,229,674)
Cash Flows from Financing Activities:
Payments on finance lease obligation	(287,526)	(26,120)
Proceeds from convertible notes payable, net	14,283,333	0
Proceeds from exercise of stock options	0	18,500
Proceeds from issuance of prefunded warrants	0	2,575,000
Proceeds from issuance of common stock, net	0	4,662,125
Net Cash provided by Financing Activities	13,995,807	7,229,505
Gain (Loss) on Currency Translation	(907,085)	1,311,881
Net change in Cash and Restricted Cash	7,427,890	4,708,617
Cash and Restricted Cash at Beginning of Period	13,264,449	9,783,932
Cash and Restricted Cash at End of Period	20,692,339	14,492,549
Supplemental Disclosures of Cash Flow Information:
Interest	483,321	83,014
Income Taxes	0	0
Non-cash financing activities
Common Stock issued in conjunction with convertible note financing	531,729	0
Convertible Debt [Member]
Non-cash financing activities
Original issue discount on convertible note	1,800,000	0
Convertible Note debt conversion feature	3,048,396	0
Debt issuance costs on convertible note	$ 716,667	$ 0

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
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, January 2021, 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 Emission Control A/S, a Danish corporation (“LiqTech Emission Control”), incorporated on March 1, 2021 LiqTech Environment Technologies (China) Co. Ltd. (“LiqTech China”), incorporated on September 23, 2021, LiqTech Germany (“LiqTech Germany”), a 100% owned subsidiary of LiqTech Holding, incorporated in Germany on December 9, 2011. LiqTech PTE Ltd (“LiqTech Singapore”), a 95% owned subsidiary of LiqTech Holding, incorporated in Singapore on January 19, 2012. Consolidation -- Reclassification Functional Currency / Foreign currency translation -- nine September 30, 2021 2020. Cash and Restricted Cash -- three September 30, 2021 December 31, 2020, Accounts held in each U.S. institution are insured by the Federal Deposit Insurance Company (“FDIC”) up to $250,000. September 30, 2021 December 31, 2020 $0 Accounts Receivable -- The roll-forward of the allowance for doubtful accounts for the period ended September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Allowance for doubtful accounts at the beginning of the period $ 498,044 $ 612,434 Bad debt expense 75,680 320,270 Receivables written off during the periods (24,699 ) (484,265 ) Effect of currency translation (29,868 ) 49,605 Allowance for doubtful accounts at the end of the period $ 519,157 $ 498,044 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 / Liabilities 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 Property and Equipment -- three fifteen 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 three nine September 30, 2021 2020: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 United States and Canada $ 211,575 $ 120,163 $ 573,365 $ 577,064 Australia 75,003 118,089 334,855 222,050 Asia 561,619 358,430 2,890,836 2,684,474 Europe 3,294,757 2,947,048 8,358,338 14,983,469 $ 4,142,954 $ 3,543,730 $ 12,157,394 $ 18,467,057 The Company’s sales by product line are as follows for the three nine September 30, 2021 2020: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 Liquid filters and systems $ 1,493,549 $ 1,899,160 $ 3,730,889 $ 12,431,157 Diesel particulate filters 1,703,057 1,009,545 5,444,863 3,730,302 Plastic components 855,896 503,297 2,686,292 1,847,092 Development projects 90,452 131,728 295,350 458,506 $ 4,142,954 $ 3,543,730 $ 12,157,394 $ 18,467,057 For liquid filters and systems, 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 to receive 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 specified 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) asserting 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 represent 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 periods ended September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Cost incurred $ 4,458,227 $ 3,997,161 Unbilled project deliveries 419,112 1,015,977 VAT 412,733 446,608 Other receivables 90,908 75,010 Prepayments (3,731,079 ) (3,112,118 ) Deferred Revenue (618,966 ) (866,680 ) $ 1,030,935 $ 1,555,958 Distributed as follows: Contract assets $ 1,939,107 $ 2,708,136 Contract liabilities (908,172 ) (1,152,178 ) $ 1,030,935 $ 1,555,958 Advertising Cost -- three September 30, 2021 2020, nine September 30, 2021 2020, 2021 Research and Development Cost -- three September 30, 2021 2020 nine September 30, 2021 2020, Income Taxes -- 740 Income/(Loss) Per Share -- 260, not Stock Options and Awards -- 718, 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 and convertible notes payable approximate their recorded values due to their short-term maturities. Accounting Estimates -- Recent Accounting Pronouncements August 2020, 2020 06, 470 20 815 40 December 15, 2023 December 15, 2020. 2020 06 In March 2020, 2020 04, 848 December 31, 2022. In December 2019, 2019 12, 740 December 15, 2020 January 1, 2021, not Other recent accounting pronouncements issued by the FASB did not not

Note 2 - Inventory

Note 2 - Inventory	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 2 Inventory consisted of the following at September 30, 2021 December 31, 2020: September 30, 2021 December 31, 2020 Furnace parts and supplies $ 380,381 $ 471,622 Raw materials 2,454,919 1,955,713 Work in process 1,798,152 2,394,481 Finished goods and filtration systems 1,106,125 1,424,171 Reserve for obsolescence (622,215 ) (723,949 ) Net Inventory $ 5,117,362 $ 5,522,038 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 - Leases

Note 3 - Leases	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	NOTE 3 - 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 Taicang, China and White Bear Lake, Minnesota. As of September 1, 2021 August 31, 2025 September 1, 2025 September 1, 2021 June 30, 2022. February 2021, not During the nine September 30, 2021, During the nine September 30, 2021, Supplemental balance sheet information related to leases as of September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Operating leases Operating lease right-of-use $ 7,246,422 $ 4,947,734 Operating lease liabilities – current $ 781,235 $ 1,026,235 Operating lease liabilities – long-term 6,485,282 4,159,225 Total operating lease liabilities $ 7,266,517 $ 5,185,460 Finance leases Property and equipment, at cost $ 4,545,747 $ 4,819,201 Accumulated depreciation (1,432,478 ) (1,389,488 ) Property and equipment, net $ 3,113,269 $ 3,429,713 Finance lease liabilities – current $ 379,726 $ 394,839 Finance lease liabilities – long-term 2,650,139 3,112,496 Total finance lease liabilities $ 3,029,865 $ 3,507,335 Weighted average remaining lease term: Operating leases 9.0 10.0 Finance leases 6.1 6.9 Weighted average discount rate: Operating leases 6.5 % 6.2 % Finance leases 2.8 % 2.8 % Maturities of lease liabilities at September 30, 2021 Operating lease Finance lease 2021 (remaining 3 months) $ 297,557 $ 115,213 2022 1,264,956 459,223 2023 1,284,566 454,417 2024 1,130,863 455,396 2025 835,749 451,685 Thereafter 4,843,246 1,410,832 Total payment under lease agreements 9,656,937 3,346,766 Less imputed interest (2,390,420 ) (316,901 ) Total lease liability $ 7,266,517 $ 3,029,865

Note 4 - Lines of Credit

Note 4 - Lines of Credit	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 4 - LINES OF CREDIT In connection with certain orders, we provide the customer a working guarantee, a prepayment guarantee or security bond. For that purpose, we have a guaranteed credit line of DKK10,000,000 September 30, 2021

Note 5 - Long-term Debt

Note 5 - Long-term Debt	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE 5 LONG-TERM DEBT Convertible Note On March 24, 2021, October 1, 2023 April 8, 2021, The Note is a senior, unsecured obligation of the Company, payable at 112% of the principal amount at maturity on October 1, 2023, 100.6749 $1,000 The Company may 1 one hundred seventy-five twelve 12 September 24, 2021; 2 twelve 12 Beginning on March 1, 2022, first 90% VWAP three 3 10 no The Note has interest payable quarterly beginning June 1, 2021 The components of the Convertible Note are as follows: September 30, 2021 December 31, 2020 Convertible note $ 16,800,000 - Less: unamortized debt issuance costs (2,504,462 ) - Convertible note payable $ 14,295,538 $ - Current portion of convertible note payable 5,880,000 - Convertible note payable, less current portion 8,415,538 - Convertible note payable $ 14,295,538 $ - For the three September 30, 2021 2020, $0, $0, For the nine September 30, 2021 2020, $0, $0,

Note 6 - Agreements and Commitm

Note 6 - Agreements and Commitments	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 6 - AGREEMENTS AND COMMITMENTS Agreements none third 401 401 three September 30, 2021 2020, nine September 30, 2021 2020, Contingencies -- may On November 20, 2018, 2016 not December 2020 2020. January 2021. On February 27, 2019, 2017. 2018. no September 30, 2021. 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, as of September 30, 2021 December 31, 2020, September 30, 2021 December 31, 2020 Balance at January 1 $ 1,056,613 $ 813,288 Warranty costs charged to cost of goods sold 79,972 348,241 Utilization charges against reserve (132,360 ) (199,624 ) Release of accrual related to expired warranties - - Foreign currency effect (58,302 ) 94,708 Balance at the end of the period $ 945,923 $ 1,056,613

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 7 - 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 period ended September 30, 2021, The following table shows the amounts used in computing earnings per share and the weighted average number of shares of potential dilutive common stock for the nine September 30, 2021 2020: For the Nine Months Ended September 30, 2021 2020 Net (Loss) $ (8,461,493 ) $ (6,133,731 ) Weighted average number of common shares used in basic earnings per share 21,661,945 21,059,251 Effect of dilutive securities, stock options, RSUs, and warrants - - Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share 21,661,945 21,059,251 For the nine September 30, 2021 2020 no

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 8 - STOCKHOLDERS' EQUITY Common Stock September 30, 2021 2020, 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 September 30, 2021, Stock Issuance Since January 1, 2021, On January 6, 2021, 2020. On February 26, 2021, 2020. On April 9, 2021, April 8, 2021. On August 17, 2021, On September 3, 2021, Warrants In connection with the Securities Purchase Agreement entered into in May 2020, may no not not 9.99% may not 9.99% On August 17, 2021, 500,000 August 17, 2021, The following is a summary of the periodic changes in warrants outstanding for the nine September 30, 2021: 2021 Warrants outstanding at January 1 515,000 Common stock exchanged to prefunded warrant 500,000 Exercises and conversions - Warrants outstanding at September 30 1,015,000 Stock-based Compensation In 2013, September 30, 2021, three 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 $127,519 and $46,681 for the three September 30, 2021 2020, nine September 30, 2021 2020, September 30, 2021, A summary of the status of the RSUs as of September 30, 2021 September 30, 2021 Number of units Weighted Average Grant-Date Fair value Aggregated Intrinsic Value Outstanding, December 31, 2020 128,299 $ 5.79 $ 283,541 Granted 71,582 7.51 - Vested and settled with share issuance (50,245 ) (5.85 ) - Forfeited - - - Outstanding, September 30, 2021 149,636 $ 6.59 $ - Stock Options In August 2015, September 30, 2021, 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 9 - Significant Customers

Note 9 - Significant Customers / Concentration / Disaggregated Revenue	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 9 - SIGNIFICANT CUSTOMERS / CONCENTRATION / DISAGGREGATED REVENUE The following table presents customers accounting for 10% For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 Customer A 21 % * * * Customer B 11 % * 11 % * Customer C 10 % * * * Customer D * 23 % * 27 % Customer E * 20 % * 11 % * Zero or less than 10% The following table presents customers accounting for 10% September 30, 2021 December 31, 2020 Customer D * 39 % Customer B * 16 % Customer C * 12 % * Zero or less than 10% As of September 30, 2021, December 31, 2020,

Note 10 - Segment Reporting

Note 10 - Segment Reporting	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 10 SEGMENT REPORTING The Company operates in three January 1, 2020, 2020. Segment information for the business areas is as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revenue Water $ 1,493,549 $ 1,925,879 $ 3,730,889 $ 12,127,421 Ceramics 1,703,057 989,601 5,444,863 4,367,591 Plastics 855,896 503,297 2,686,292 1,847,092 Other 90,452 124,953 295,350 124,953 Total consolidated Revenue 4,142,954 3,543,730 12,157,394 18,467,057 For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Income (Loss) Water $ (531,868 ) $ (175,725 ) $ (2,112,430 ) $ (64,967 ) Ceramics (798,615 ) (622,504 ) (2,681,013 ) (1,598,205 ) Plastics (358,880 ) (261,544 ) (887,184 ) (329,200 ) Other (1,214,593 ) (2,813,646 ) (2,780,866 ) (4,141,359 ) Total consolidated Loss (2,903,956 ) (3,873,419 ) (8,461,493 ) (6,133,731 ) For the period ended Total assets September 30, 2021 December 31, 2020 Water $ 9,096,032 $ 14,033,107 Ceramics 17,048,081 16,734,371 Plastics 1,940,034 2,022,381 Other 20,309,406 9,420,278 Total consolidated assets $ 48,393,553 $ 42,210,137

Note 11 - Subsequent Events

Note 11 - Subsequent Events	9 Months Ended
	Sep. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 - SUBSEQUENT EVENTS None.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
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, January 2021, 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 Emission Control A/S, a Danish corporation (“LiqTech Emission Control”), incorporated on March 1, 2021 LiqTech Environment Technologies (China) Co. Ltd. (“LiqTech China”), incorporated on September 23, 2021, LiqTech Germany (“LiqTech Germany”), a 100% owned subsidiary of LiqTech Holding, incorporated in Germany on December 9, 2011. LiqTech PTE Ltd (“LiqTech Singapore”), 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
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Functional Currency / Foreign currency translation -- nine September 30, 2021 2020.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Restricted Cash -- three September 30, 2021 December 31, 2020, Accounts held in each U.S. institution are insured by the Federal Deposit Insurance Company (“FDIC”) up to $250,000. September 30, 2021 December 31, 2020 $0
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 period ended September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Allowance for doubtful accounts at the beginning of the period $ 498,044 $ 612,434 Bad debt expense 75,680 320,270 Receivables written off during the periods (24,699 ) (484,265 ) Effect of currency translation (29,868 ) 49,605 Allowance for doubtful accounts at the end of the period $ 519,157 $ 498,044
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 / Liabilities 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
Property, Plant and Equipment, Impairment [Policy Text Block]	Property and Equipment -- three fifteen
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 three nine September 30, 2021 2020: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 United States and Canada $ 211,575 $ 120,163 $ 573,365 $ 577,064 Australia 75,003 118,089 334,855 222,050 Asia 561,619 358,430 2,890,836 2,684,474 Europe 3,294,757 2,947,048 8,358,338 14,983,469 $ 4,142,954 $ 3,543,730 $ 12,157,394 $ 18,467,057 The Company’s sales by product line are as follows for the three nine September 30, 2021 2020: For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 Liquid filters and systems $ 1,493,549 $ 1,899,160 $ 3,730,889 $ 12,431,157 Diesel particulate filters 1,703,057 1,009,545 5,444,863 3,730,302 Plastic components 855,896 503,297 2,686,292 1,847,092 Development projects 90,452 131,728 295,350 458,506 $ 4,142,954 $ 3,543,730 $ 12,157,394 $ 18,467,057 For liquid filters and systems, 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 to receive 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 specified 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) asserting 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 represent 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 periods ended September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Cost incurred $ 4,458,227 $ 3,997,161 Unbilled project deliveries 419,112 1,015,977 VAT 412,733 446,608 Other receivables 90,908 75,010 Prepayments (3,731,079 ) (3,112,118 ) Deferred Revenue (618,966 ) (866,680 ) $ 1,030,935 $ 1,555,958 Distributed as follows: Contract assets $ 1,939,107 $ 2,708,136 Contract liabilities (908,172 ) (1,152,178 ) $ 1,030,935 $ 1,555,958
Advertising Cost [Policy Text Block]	Advertising Cost -- three September 30, 2021 2020, nine September 30, 2021 2020, 2021
Research and Development Expense, Policy [Policy Text Block]	Research and Development Cost -- three September 30, 2021 2020 nine September 30, 2021 2020,
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,
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 and convertible notes payable 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 August 2020, 2020 06, 470 20 815 40 December 15, 2023 December 15, 2020. 2020 06 In March 2020, 2020 04, 848 December 31, 2022. In December 2019, 2019 12, 740 December 15, 2020 January 1, 2021, not 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)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	September 30, 2021 December 31, 2020 Allowance for doubtful accounts at the beginning of the period $ 498,044 $ 612,434 Bad debt expense 75,680 320,270 Receivables written off during the periods (24,699 ) (484,265 ) Effect of currency translation (29,868 ) 49,605 Allowance for doubtful accounts at the end of the period $ 519,157 $ 498,044
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 United States and Canada $ 211,575 $ 120,163 $ 573,365 $ 577,064 Australia 75,003 118,089 334,855 222,050 Asia 561,619 358,430 2,890,836 2,684,474 Europe 3,294,757 2,947,048 8,358,338 14,983,469 $ 4,142,954 $ 3,543,730 $ 12,157,394 $ 18,467,057
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 Liquid filters and systems $ 1,493,549 $ 1,899,160 $ 3,730,889 $ 12,431,157 Diesel particulate filters 1,703,057 1,009,545 5,444,863 3,730,302 Plastic components 855,896 503,297 2,686,292 1,847,092 Development projects 90,452 131,728 295,350 458,506 $ 4,142,954 $ 3,543,730 $ 12,157,394 $ 18,467,057
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	September 30, 2021 December 31, 2020 Cost incurred $ 4,458,227 $ 3,997,161 Unbilled project deliveries 419,112 1,015,977 VAT 412,733 446,608 Other receivables 90,908 75,010 Prepayments (3,731,079 ) (3,112,118 ) Deferred Revenue (618,966 ) (866,680 ) $ 1,030,935 $ 1,555,958 Distributed as follows: Contract assets $ 1,939,107 $ 2,708,136 Contract liabilities (908,172 ) (1,152,178 ) $ 1,030,935 $ 1,555,958

Note 2 - Inventory (Tables)

Note 2 - Inventory (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2021 December 31, 2020 Furnace parts and supplies $ 380,381 $ 471,622 Raw materials 2,454,919 1,955,713 Work in process 1,798,152 2,394,481 Finished goods and filtration systems 1,106,125 1,424,171 Reserve for obsolescence (622,215 ) (723,949 ) Net Inventory $ 5,117,362 $ 5,522,038

Note 3 - Leases (Tables)

Note 3 - Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Lessee, Operating and Finance Lease, Assets and Liabilities [Table Text Block]	September 30, 2021 December 31, 2020 Operating leases Operating lease right-of-use $ 7,246,422 $ 4,947,734 Operating lease liabilities – current $ 781,235 $ 1,026,235 Operating lease liabilities – long-term 6,485,282 4,159,225 Total operating lease liabilities $ 7,266,517 $ 5,185,460 Finance leases Property and equipment, at cost $ 4,545,747 $ 4,819,201 Accumulated depreciation (1,432,478 ) (1,389,488 ) Property and equipment, net $ 3,113,269 $ 3,429,713 Finance lease liabilities – current $ 379,726 $ 394,839 Finance lease liabilities – long-term 2,650,139 3,112,496 Total finance lease liabilities $ 3,029,865 $ 3,507,335 Weighted average remaining lease term: Operating leases 9.0 10.0 Finance leases 6.1 6.9 Weighted average discount rate: Operating leases 6.5 % 6.2 % Finance leases 2.8 % 2.8 %
Maturity of Operating and Finance Lease Liabilities [Table Text Block]	Operating lease Finance lease 2021 (remaining 3 months) $ 297,557 $ 115,213 2022 1,264,956 459,223 2023 1,284,566 454,417 2024 1,130,863 455,396 2025 835,749 451,685 Thereafter 4,843,246 1,410,832 Total payment under lease agreements 9,656,937 3,346,766 Less imputed interest (2,390,420 ) (316,901 ) Total lease liability $ 7,266,517 $ 3,029,865

Note 5 - Long-term Debt (Tables

Note 5 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	September 30, 2021 December 31, 2020 Convertible note $ 16,800,000 - Less: unamortized debt issuance costs (2,504,462 ) - Convertible note payable $ 14,295,538 $ - Current portion of convertible note payable 5,880,000 - Convertible note payable, less current portion 8,415,538 - Convertible note payable $ 14,295,538 $ -

Note 6 - Agreements and Commi_2

Note 6 - Agreements and Commitments (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	September 30, 2021 December 31, 2020 Balance at January 1 $ 1,056,613 $ 813,288 Warranty costs charged to cost of goods sold 79,972 348,241 Utilization charges against reserve (132,360 ) (199,624 ) Release of accrual related to expired warranties - - Foreign currency effect (58,302 ) 94,708 Balance at the end of the period $ 945,923 $ 1,056,613

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	For the Nine Months Ended September 30, 2021 2020 Net (Loss) $ (8,461,493 ) $ (6,133,731 ) Weighted average number of common shares used in basic earnings per share 21,661,945 21,059,251 Effect of dilutive securities, stock options, RSUs, and warrants - - Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share 21,661,945 21,059,251

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	2021 Warrants outstanding at January 1 515,000 Common stock exchanged to prefunded warrant 500,000 Exercises and conversions - Warrants outstanding at September 30 1,015,000
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	September 30, 2021 Number of units Weighted Average Grant-Date Fair value Aggregated Intrinsic Value Outstanding, December 31, 2020 128,299 $ 5.79 $ 283,541 Granted 71,582 7.51 - Vested and settled with share issuance (50,245 ) (5.85 ) - Forfeited - - - Outstanding, September 30, 2021 149,636 $ 6.59 $ -

Note 9 - Significant Customer_2

Note 9 - Significant Customers / Concentration / Disaggregated Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	For the Three Months For the Nine Months Ended September 30, Ended September 30, 2021 2020 2021 2020 Customer A 21 % * * * Customer B 11 % * 11 % * Customer C 10 % * * * Customer D * 23 % * 27 % Customer E * 20 % * 11 % September 30, 2021 December 31, 2020 Customer D * 39 % Customer B * 16 % Customer C * 12 %

Note 10 - Segment Reporting (Ta

Note 10 - Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Revenue Water $ 1,493,549 $ 1,925,879 $ 3,730,889 $ 12,127,421 Ceramics 1,703,057 989,601 5,444,863 4,367,591 Plastics 855,896 503,297 2,686,292 1,847,092 Other 90,452 124,953 295,350 124,953 Total consolidated Revenue 4,142,954 3,543,730 12,157,394 18,467,057 For the Three Months Ended For the Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Income (Loss) Water $ (531,868 ) $ (175,725 ) $ (2,112,430 ) $ (64,967 ) Ceramics (798,615 ) (622,504 ) (2,681,013 ) (1,598,205 ) Plastics (358,880 ) (261,544 ) (887,184 ) (329,200 ) Other (1,214,593 ) (2,813,646 ) (2,780,866 ) (4,141,359 ) Total consolidated Loss (2,903,956 ) (3,873,419 ) (8,461,493 ) (6,133,731 ) For the period ended Total assets September 30, 2021 December 31, 2020 Water $ 9,096,032 $ 14,033,107 Ceramics 17,048,081 16,734,371 Plastics 1,940,034 2,022,381 Other 20,309,406 9,420,278 Total consolidated assets $ 48,393,553 $ 42,210,137

Note 1 - Summary of Significa_3

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Aug. 12, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Restricted Cash and Cash Equivalents, Current, Total		$ 1,500,000		$ 1,500,000		$ 1,515,620
Cash, Uninsured Amount		14,750,644		14,750,644		$ 0
Advertising Expense		41,141	$ 20,522	166,376	$ 82,545
Research and Development Expense, Total		$ 497,823	256,239	$ 1,370,059	$ 883,752
Adjustments to Additional Paid in Capital, Warrant Issued			3,476,250
Additional Paid-in Capital [Member]
Adjustments to Additional Paid in Capital, Warrant Issued	$ 3,476,250		$ 3,476,250
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)				15 years
Finite-Lived Intangible Asset, Useful Life (Year)				10 years
LiqTech USA [Member] | LiqTech International DK [Member]
Percentage of Subsidiary Owned		100.00%		100.00%
LiqTech USA [Member] | LiqTech NA [Member]
Percentage of Subsidiary Owned		100.00%		100.00%
LiqTech International DK [Member] | LiqTech Germany [Member]
Percentage of Subsidiary Owned		100.00%		100.00%
LiqTech International DK [Member] | LiqTech PTE [Member]
Percentage of Subsidiary Owned		95.00%		95.00%
LiqTech USA [Member]
Noncontrolling Interest, Ownership Percentage by Parent		100.00%		100.00%

Note 1 - Summary of Significa_4

Note 1 - Summary of Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Allowance for doubtful accounts	$ 498,044	$ 612,434
Bad debt expense	75,680	320,270
Receivables written off during the periods	(24,699)	(484,265)
Effect of currency translation	(29,868)	49,605
Allowance for doubtful accounts	$ 519,157	$ 498,044

Note 1 - Summary of Significa_5

Note 1 - Summary of Significant Accounting Policies - Net Sales by Geographical Region (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 4,142,954	$ 3,543,730	$ 12,157,394	$ 18,467,057
Reportable Geographical Components [Member] | US And Canada [Member]
Revenue	211,575	120,163	573,365	577,064
Reportable Geographical Components [Member] | AUSTRALIA
Revenue	75,003	118,089	334,855	222,050
Reportable Geographical Components [Member] | Asia [Member]
Revenue	561,619	358,430	2,890,836	2,684,474
Reportable Geographical Components [Member] | Europe [Member]
Revenue	$ 3,294,757	$ 2,947,048	$ 8,358,338	$ 14,983,469

Note 1 - Summary of Significa_6

Note 1 - Summary of Significant Accounting Policies - Sales by Product Line (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 4,142,954	$ 3,543,730	$ 12,157,394	$ 18,467,057
Liquid Filters [Member]
Revenue	1,493,549	1,899,160	3,730,889	12,431,157
Diesel Particulate Filters [Member]
Revenue	1,703,057	1,009,545	5,444,863	3,730,302
Plastic Products [Member]
Revenue	855,896	503,297	2,686,292	1,847,092
Development Projects [Member]
Revenue	$ 90,452	$ 131,728	$ 295,350	$ 458,506

Note 1 - Summary of Significa_7

Note 1 - Summary of Significant Accounting Policies - Contract Assets and Liabilities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Cost incurred	$ 4,458,227	$ 3,997,161
Unbilled project deliveries	419,112	1,015,977
VAT	412,733	446,608
Other receivables	90,908	75,010
Prepayments	(3,731,079)	(3,112,118)
Deferred Revenue	(618,966)	(866,680)
Contract with Customer, Asset (Liability), Net	1,030,935	1,555,958
Contract assets	1,939,107	2,708,136
Contract liabilities	(908,172)	(1,152,178)
Contract with Customer, Asset (Liability), Net	$ 1,030,935	$ 1,555,958

Note 2 - Inventory - Summary of

Note 2 - Inventory - Summary of Inventory (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Furnace parts and supplies	$ 380,381	$ 471,622
Raw materials	2,454,919	1,955,713
Work in process	1,798,152	2,394,481
Finished goods and filtration systems	1,106,125	1,424,171
Reserve for obsolescence	(622,215)	(723,949)
Net Inventory	$ 5,117,362	$ 5,522,038

Note 3 - Leases (Details Textua

Note 3 - Leases (Details Textual)	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 01, 2021CNY (¥)a
Finance Lease, Principal Payments	$ 356,899
Finance Lease Expense	195,174
Operating Lease, Payments	766,896
Operating Expense [Member]
Operating Lease, Expense	$ 787,646
CHINA
Area of Real Estate Property (Acre) | a		8,524
Lease Contractual Agreement, Percentage, Discount		50.00%
CHINA | Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)		8 years
CHINA | Effective to August 31 2025 [Member]
Lease, Cost Per Square Meter | ¥		¥ 30
CHINA | Effective on September 1 2025 [Member]
Lease, Cost Per Square Meter | ¥		¥ 33

Note 3 - Leases - Balance Sheet

Note 3 - Leases - Balance Sheet Information (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Operating lease right-of-use	$ 7,246,422	$ 4,947,734
Operating lease liabilities – current	781,235	1,026,235
Operating lease liabilities – long-term	6,485,282	4,159,225
Total operating lease liability	7,266,517	5,185,460
Property and equipment, at cost	4,545,747	4,819,201
Accumulated depreciation	(1,432,478)	(1,389,488)
Property and equipment, net	3,113,269	3,429,713
Finance lease liabilities – current	379,726	394,839
Finance lease liabilities – long-term	2,650,139	3,112,496
Total finance lease liability	$ 3,029,865	$ 3,507,335
Operating leases (Year)	9 years	10 years
Finance leases (Year)	6 years 1 month 6 days	6 years 10 months 24 days
Operating leases	6.50%	6.20%
Finance leases	2.80%	2.80%

Note 3 - Leases - Maturities of

Note 3 - Leases - Maturities of Lease Liabilities (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
2021 (remaining 9 months), operating lease	$ 297,557
2021 (remaining 9 months), finance lease	115,213
2022, operating lease	1,264,956
2022, finance lease	459,223
2023, operating lease	1,284,566
2023, finance lease	454,417
2024, operating lease	1,130,863
2024, finance lease	455,396
2025, operating lease	835,749
2025, finance lease	451,685
Thereafter, operating lease	4,843,246
Thereafter, finance lease	1,410,832
Total payment under operating lease agreements	9,656,937
Total payment under finance lease agreements	3,346,766
Less imputed interest on operating lease	(2,390,420)
Less imputed interest on finance lease	(316,901)
Total operating lease liability	7,266,517	$ 5,185,460
Total finance lease liability	$ 3,029,865	$ 3,507,335

Note 4 - Lines of Credit (Detai

Note 4 - Lines of Credit (Details Textual) - Sep. 30, 2021	USD ($)	DKK (kr)
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,550,000	kr 10,000,000
Guarantor Obligations, Current Carrying Value	483,128
Security Deposit	$ 1,500,000

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual)	Mar. 01, 2022USD ($)	Apr. 09, 2021shares	Apr. 08, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2021USD ($)
Stock Issued During Period, Shares, Issued for Commitment Fee (in shares) | shares		80,000	80,000
Convertible Debt [Member]
Debt Instrument, Face Amount			$ 15,000,000
Debt Instrument, Redemption Price, Percentage			112.00%
Debt Instrument, Convertible, Conversion Ratio			0.1006749
Debt Conversion, Percent of Common Stock Price Value			175.00%
Debt Instrument, Redemption Covenant, Floor Price (in dollars per share) | $ / shares			$ 1.75
Debt Instrument, Interest Rate, Stated Percentage				5.00%			5.00%
Interest Expense, Debt, Total				$ 481,712	$ 0	$ 0	$ 904,350
Amortization of Debt Issuance Costs				$ 292,129	$ 0	$ 0	$ 360,417
Convertible Debt [Member] | Forecast [Member]
Debt Instrument, Periodic Payment, Principal	$ 840,000

Note 5 - Long-term Debt - Conve

Note 5 - Long-term Debt - Convertible Note (Details) - Convertible Debt [Member] - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Convertible note	$ 16,800,000	$ 0
Less: unamortized debt issuance costs	(2,504,462)	0
Convertible note payable	14,295,538	0
Current portion of convertible note payable	5,880,000	0
Convertible note payable, less current portion	$ 8,415,538	$ 0

Note 6 - Agreements and Commi_3

Note 6 - Agreements and Commitments (Details Textual)	Feb. 27, 2019USD ($)	Feb. 27, 2019DKK (kr)	Nov. 20, 2018USD ($)	Nov. 20, 2018DKK (kr)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020DKK (kr)	Jun. 30, 2021
Defined Contribution Plan, Cost					$ 0	$ 3,860	$ 218	$ 10,844
Minimum [Member]
Standard Product Warranty, Term (Year)							1 year
Maximum [Member]
Standard Product Warranty, Term (Year)							3 years
Extended Product Warranty, Term (Year)							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%

Note 6 - Agreements and Commi_4

Note 6 - Agreements and Commitments - Changes in Warranty Obligations (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Balance at January 1	$ 1,056,613	$ 813,288
Warranty costs charged to cost of goods sold	79,972	348,241
Utilization charges against reserve	(132,360)	(199,624)
Release of accrual related to expired warranties	0	0
Foreign currency effect	(58,302)	94,708
Balance at the end of the period	$ 945,923	$ 1,056,613

Note 7 - Earnings Per Share (De

Note 7 - Earnings Per Share (Details Textual) - shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	149,636
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1,015,000
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	0

Note 7 - Earnings Per Share - A

Note 7 - Earnings Per Share - Amounts Used in Computing Earnings Per Share (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Net (Loss)	$ (2,903,956)	$ (3,098,108)	$ (2,459,429)	$ (3,873,419)	$ (2,563,811)	$ 303,499	$ (8,461,493)	$ (6,133,731)
Weighted average number of common shares used in basic earnings per share (in shares)							21,661,945	21,059,251
Effect of dilutive securities, stock options, RSUs, and warrants (in shares)							0	0
Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share (in shares)							21,661,945	21,059,251

Note 8 - Stockholders' Equity_2

Note 8 - Stockholders' Equity (Details Textual) - USD ($)	Sep. 03, 2021	Aug. 17, 2021	Apr. 09, 2021	Apr. 08, 2021	Feb. 26, 2021	Jan. 06, 2021	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2013	May 21, 2020
Common Stock, Shares Authorized (in shares)							100,000,000	100,000,000			100,000,000		100,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)							$ 0.001	$ 0.001			$ 0.001		$ 0.001
Common Stock, Shares, Issued, Total (in shares)							21,285,706	21,285,706	21,655,461		21,285,706	21,655,461	21,655,461
Preferred Stock, Shares Authorized (in shares)							2,500,000	2,500,000			2,500,000		2,500,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)							$ 0.001	$ 0.001			$ 0.001		$ 0.001
Preferred Stock, Shares Issued, Total (in shares)							0	0			0		0
Stock Issued During Period, Value, Issued for Services										$ 45,000
Stock Issued During Period, Shares, Issued for Commitment Fee (in shares)			80,000	80,000
Class of Warrant or Right, Issued by Exchange, Shares (in shares)		500,000									500,000
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
The 2011 Stock Options Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)							0	0			0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)							149,636	149,636			149,636		128,299
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)											71,582
Share-based Payment Arrangement, Expense								$ 127,519	$ 46,681		$ 354,983	$ 270,238
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount							$ 655,382	$ 655,382			$ 655,382
Prefunded Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 0.001
Director [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)	8,333					11,218
Stock Issued During Period, Value, Issued for Services						$ 70,000	$ 57,500
Director [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)														25,000
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
Management [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)					30,694
Stock Issued During Period, Value, Issued for Services					$ 166,667
Management [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)													114,328
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)													3 years
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 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Warrants (Details) - shares	Aug. 17, 2021	Sep. 30, 2021
Warrants outstanding at January 1 (in shares)		515,000
Common stock exchanged to prefunded warrant (in shares)	500,000	500,000
Exercises and conversions (in shares)		0
Warrants outstanding at September 30 (in shares)		1,015,000

Note 8 - Stockholders' Equity_3

Note 8 - Stockholders' Equity - Share Incentive Plan Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Outstanding, units (in shares)	128,299
Outstanding, weighted average grant-date fair value (in dollars per share)	$ 5.79
Outstanding, aggregated intrinsic value	$ 0	$ 283,541
Granted, units (in shares)	71,582
Granted, weighted average grant-date fair value (in dollars per share)	$ 7.51
Vested and settled with share issuance, units (in shares)	(50,245)
Vested and settled with share issuance, weighted average grant-date fair value (in dollars per share)	$ (5.85)
Forfeited, units (in shares)	0
Forfeited, weighted average grant-date fair value (in dollars per share)	$ 0
Outstanding, units (in shares)	149,636	128,299
Outstanding, weighted average grant-date fair value (in dollars per share)	$ 6.59	$ 5.79

Note 9 - Significant Customer_3

Note 9 - Significant Customers / Concentration / Disaggregated Revenue (Details Textual) - Geographic Concentration Risk [Member] - Assets, Total [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
DENMARK
Concentration Risk, Percentage	63.00%	100.00%
UNITED STATES
Concentration Risk, Percentage	31.00%
CHINA
Concentration Risk, Percentage	6.00%

Note 9 - Significant Customer_4

Note 9 - Significant Customers / Concentration / Disaggregated Revenue - Concentration of Risk (Details) - Customer Concentration Risk [Member]	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue Benchmark [Member] | Customer A [Member]
Concentration Risk, Percentage	21.00%
Revenue Benchmark [Member] | Customer D [Member]
Concentration Risk, Percentage		23.00%		27.00%
Revenue Benchmark [Member] | Customer B [Member]
Concentration Risk, Percentage	11.00%		11.00%
Revenue Benchmark [Member] | Customer C [Member]
Concentration Risk, Percentage	10.00%
Revenue Benchmark [Member] | Customer E [Member]
Concentration Risk, Percentage		20.00%		11.00%
Accounts Receivable [Member] | Customer D [Member]
Concentration Risk, Percentage					39.00%
Accounts Receivable [Member] | Customer B [Member]
Concentration Risk, Percentage					16.00%
Accounts Receivable [Member] | Customer C [Member]
Concentration Risk, Percentage					12.00%

Note 10 - Segment Reporting - S

Note 10 - Segment Reporting - Summary of Segment Activity (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue	$ 4,142,954			$ 3,543,730			$ 12,157,394	$ 18,467,057
Revenue	4,142,954			3,543,730			12,157,394	18,467,057
Net Income (Loss)	(2,903,956)	$ (3,098,108)	$ (2,459,429)	(3,873,419)	$ (2,563,811)	$ 303,499	(8,461,493)	(6,133,731)
Segment assets	48,393,553						48,393,553		$ 42,210,137
Water Segment [Member]
Net Income (Loss)	(531,868)			(175,725)			(2,112,430)	(64,967)
Segment assets	9,096,032						9,096,032		14,033,107
Water Segment [Member] | Operating Segments [Member]
Revenue	1,493,549			1,925,879			3,730,889	12,127,421
Revenue	1,493,549			1,925,879			3,730,889	12,127,421
Ceramics Segment [Member]
Net Income (Loss)	(798,615)			(622,504)			(2,681,013)	(1,598,205)
Segment assets	17,048,081						17,048,081		16,734,371
Ceramics Segment [Member] | Operating Segments [Member]
Revenue	1,703,057			989,601			5,444,863	4,367,591
Revenue	1,703,057			989,601			5,444,863	4,367,591
Plastics Segment [Member] | Operating Segments [Member]
Revenue	855,896			503,297			2,686,292	1,847,092
Revenue	855,896			503,297			2,686,292	1,847,092
Plastic Products [Member]
Net Income (Loss)	(358,880)			(261,544)			(887,184)	(329,200)
Segment assets	1,940,034						1,940,034		2,022,381
Other Segments [Member]
Net Income (Loss)	(1,214,593)			(2,813,646)			(2,780,866)	(4,141,359)
Segment assets	20,309,406						20,309,406		$ 9,420,278
Other Segments [Member] | Operating Segments [Member]
Revenue	90,452			124,953			295,350	124,953
Revenue	$ 90,452			$ 124,953			$ 295,350	$ 124,953