LIQT - Earnings call transcript Q3 2018 | LiqTech International, Inc.

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Operator

Good day ladies and gentlemen, and welcome to LiqTech International Third Quarter Fiscal Year 2018 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note that this event is being recorded. At this time, I would now like to turn the conference over to Robert Blum of Lytham Partners. sir. ahead go Please

Robert Blum

Lytham much joining good LiqTech us financial Blum quarter so moderator be thank today's for International's everyone you XXXX call. of Robert I'm for today results. and [indiscernible], you I'll morning your and and third Partners, Thank to discuss

Mathiesen, on today's Sune the company. the company from us of Joining is call CEO

session. there Before that the listeners I me will an let be remind turn the Sune, call opened Q&A conference over call, to following

of this call You will note transcript should section a replay company's shortly conclusion available live also shortly of available the of be website the Relations thereafter. and call following the will that be a Investor on the the of call then

the This forward-looking Before may contain following call we with the statements. remarks, begin conference statements. prepared we submit record for

our The a the those during reflect unknown known to faith listeners actual events results materially release good and inherently no and urges conference circumstances therefore of this to this that company any that to cause in arise and to reflect filed If speaks and call. any listeners from and that order materialize expected are and consider statements the all and management's, to release update or carefully reports not date in conference or may advise the all the reliance that if actual proven Exchange risks or underlying company the parties flows. uncertainties discussed risk the Securities disclosures the of may the or statements, these statements and interested date be of sales date of results forward-looking forward-looking made statements undue of forward-looking The the and from Although place therefore conference forward-looking or more The subject the company Commission, affect risks those uncertainties assumes may and these of judgment which on after materially of one to attempt conditions various company's may obligation only correct, including as review business, to call. the cash with financial projected. urges factors call. risks vary operations assumptions different

to of Sune, to call over like LiqTech I'd turn International. CEO pleased Mathiesen, Sune Now proceed. the

Sune Mathiesen

brief very conference day you. leave and ago, the you Robert, you room Thank questions to our I’ll joining Since to all for third much good remarks call quarter prepared of us few a much for outlook try Thank possible. business. just weeks to had keep and for discuss as a and many we results our very today my as

And release, highlighting you key accomplishments. progress see me As a during tremendous by press the can from few of quarter. let made the the we start

the even standardized for for to increase early First, in interest systems see industry. though our we an stages, continue marine

significant orders now day-by-day, us steep Our leads in XX sales than delivery book see also more before very we And have activity orders. a that the in and year. further growing confirmed we’ll end the for believe the This pipeline is first now XXXX. current to market significant is the of range. the We orders

operating product attractive new Second, IMO Scrubber framework the and XXXX global returns agreement with new guaranteed the treatment on for a compliance we one while of a capital The expenses. to of manufacturers signed the develop world's Wastewater. largest product new regulations, vessels offer providing with Marine marine will

during our new of first of Based significant to number We certain XXXX, quarter. orders deliver we the the a this from XXXX, systems backlog, on expect delivery expect quarter first agreement. of record under a in framework

will Furnaces lower we in And of customers we our the a fuel. the used operations to filtration We membranes. manufacturing are higher they XXXX. our return for benefits carbide we capacity. systems. with manufacturing on on with current positioned we our from in also efficiencies second furnaces drive ideally IMO be expected which our product an coming the and as expect our standardized order silicon quarter. double had capitalize backlog to in offering, Based half an strong provides delivered expected carry operational the in Overall, on investments new XXXX discussions our sulphur We believe also to quarters, margins installed, we a be once placed range superior have gross attractive profitable the that in compared for and to of purchasing

four been We strong years. market have building a the than more past, over position

have industry's with leading the We we good have partnership key vessel reputation owners. and very manufacturers, scrubber a signed agreements the amongst

We that we continuous costs competition. any believe stay mover our first to we products ahead improvements have terms can and in of and potential to performance made our advantage use of

us Let in that partner trusted are emerging on our industry. we a position leverage on me becoming also couple a touch to leadership clear other are the initiatives becoming the of further we to marine industry. is focused marine It in

very good supply manufacturers well other now relationship others is that are owners. looked buy help to being marine that a and parties as the side And have We issues moving as to LiqTech on these believe industry may they with towards solve We the vessel encounter. zero-emissions industry.

marine our several to further range development industry. products I marine position of offering to product am coming establish the new process you about working I these ability capital complement the emerging products asked in products forward position. our the demand quarters. current the with These within current will keeping of the frequently the are developing our industry. new our informed look will meet and in on We in new for

Systems position to cash we've as has key good positioned outsourced orders. the our terms with current our September to capital we manufacturing system reported business, cash in is though from been provides on a higher that ramp completely in report has This headcount pleased due Even and our today I'm with XX. cash prospectus. our possible increased us the than negotiated our balance have profile working better as We now suppliers. flow ourselves efficiently the have

the you quarters with look we traction other our to over Before provide we the an your a At sometime also coming few questions, the with turn let of update time, investors provide will over anticipated IR on between quarterly update current achieving are calls. an to we the bit communication me call a updates. on and conference our

likely year-end that XXXX. issue conduct on planned sometimes up-to-date. again not every Days a until call will we important Also, new keep two recap, Investor in of a during release to the we March, conference instead you approaching sometime we a we bit was felt we'll on this and call. but have won't We hosting press look provide a receive, a to throughout Knowing order

expect of few to the support these We for to want have every one events on LiqTech. next of further continued your thank you We details in months.

have products. We great

We off is to partners, importantly, have. that to said, with us very reputation And the have to tremendous build a now single continues and turn that setting any tremendous for year the call the over market. please? every Operator, a let good me be XXXX in backlog might questions with day. you

Operator

Mr. Mathiesen. you, Thank

first [Operator Stine ahead. We be will go Instructions] question-and-answer Craig-Hallum. from of question And will today begin Please now Eric your the session.

Aaron Spychalla

for taking Yes. Spychalla Eric Stine. questions, the Aaron Hi. It's for Thanks Sune. on

Sune Mathiesen

No problem, Good Aaron. morning.

Aaron Spychalla

or little you how just the to third minimum first Great been little that. of the discuss granularity And first thinking with for isn't more market hear square the Good early bit. OEM of XXX XX the up to you your morning. of a to XXXX know come me about expectations but what's then Can might kind kind shaping book two thoughts that on get XXXX, you've that OEM? Can supposed from till orders. you expecting that from be you I kind on talked just or are product versus that order maybe Maybe with could agreements? the up

Sune Mathiesen

we first last XX we now see delivery very of than XXXX. great more this framework all, in also from Yes, in delivery into spring. comes the ordering announced for year. in have now the framework systems other that XX systems, for we that Xst orders And XXXX. couple just October is XX for quarters products. activity they confirmed The we over on great from orders that come pleased more that have turning announced we the systems are of to than the in agreement customers It's have plus agreement addition seen that the we that And to

that. mixture between it's basically So

Aaron Spychalla

I comfort through? had mentioned orders. Can you you then furnaces. cash that, some kind on past through us as get the [Technical that of capacity And you've then And the talked structured. in talked about Okay. new you've know you're -- about level you doubling capital, these walk putting it's of kind upfront with cost that, how the know CapEx of your working I just difficulty] these of on your this cash

Sune Mathiesen

marine good that payment we Yes, have our small it's order before collect as all a We the orders. progress progresses. flow and we amount the on substantial then shipment collect after proportion the have the we profile in remaining then that a We correct cash order, collect payments of a system. majority commissioning have and we of

put release that fourth quarter million total. our put in The cost to discussed in to around press we and capacity. the prepared double capacity, my the receive furnaces we expect in double is in next and now those order on As as furnaces remarks, our and will have we year $X.X

Aaron Spychalla

can talked you about I penalties it what All talk hearing about just thoughts right. for the your noncompliance? Thanks but on for the you're on and regarding then, deadline that. call, you recently current last most kind of And holding, any think

Sune Mathiesen

change. no is There

enforced. system will place. We control So it have XXXX in that strictly looks like they be put IMO know

called not will come the be they will or inspect ships a inspector harbor. installed. So have scrubber whether major onboard when They you into

that If a carry heavy use be installed, the fuel allowed to you you'll today. scrubber have we

you a for carrying installed, fuel scrubber are with it you they will fuel a If bank and heavy have installed, you have also fine. implemented means carriage no that do heavy receive scrubber if not a

it strictly looks like will this be enforced. So

Aaron Spychalla

been play maybe see hearing how just for how And long then the opportunity more talk last, that starting IMO and we've of XXXX maybe the to Can about you post kind you're deadline. out? about

Sune Mathiesen

expecting the are off. market continuous stay ramp then means ramp XXXX. to see greater and further industry ramp in fade until significant And expected then on to which high even the a XXXX, and is following in level analysts the that XXXX, a in ramp, slowly Yes, XXXX,

Operator

Jeb go from Please be question Clear Harbor Management. will Asset ahead. of Armstrong next The

Roger Liddell

you. meeting correct, being by advantage then able under certain on others. And elaborate maybe met standard Could thesis not the that guarantee Sune, IMO-XXXX extreme LiqTech to IMO-XXXX compliance if that? of actually certain capable you systems in implies that of product. Thank that the to Jeb. vendors are new of there Roger Well, you've not that the for specifically referred there It's Liddell out are guaranteed competitive with sitting but an conditions, or competing at is times has compliance.

Sune Mathiesen

can. Yes, I

So basically -- and good morning, Roger.

so highest mass cannot It So be intensive The output. will will and our certain in through. also we we compliance changes is have highest a mass to means inside have if features. And guaranteed with XXX% The output be clear basically guaranteed size our all provide times. pass input will about IMO-XXXX. And rely on features to whether water at that a limits technology intensive the technology meet what you the our technology on everything momentum from with balance. with work competing is a balance, you so the these guaranteed system, they they that

the So collections. have this big and output advantages of our technology that of with guaranteed we that this guaranteed one the compliance is

Roger Liddell

focused that and zero emissions. been could other that have gases, a major industry which made bilge is effect tank be transitioning therefore, focus, globe. discharges, overboard towards is a wording would the it's The and include I'm that stack marine environmental But comment to around cleaning you concern the beyond on the

if techniques, everything and I of those calls am So supply array a zero stack discharge thinking right gases, out applied of treating that different not just non-exhaust the issues? in LiqTech then to products

Sune Mathiesen

zero-emissions of reduction, the are opportunities marine will of mandated. And also and analysts absolutely industry. we'll legislation that as so towards that that industry we industry we things believe this pros we in new Roger. correct process tightened industry. we the I new line on mandate think -- of case. following with for other this zero my it lot not remarks, see moving in And be of will the that also lot in for in You're prepared is this developing think think And We opportunities we is think for We a developing for legislation LiqTech. receive yes, bills of lot products [ph] process a treatment. that us. are And the a us. open a the and for think a It loss already water opens mentioned tighter only We

Roger Liddell

the believe at pumping or XX pumped line Miami. oil build bad I all the the for the eye years been And I line overboard or to ago that inspectors a press, valves being operators, had I perhaps two cruise press biggest of examine when stuff bypass recall one went the system, for of with one putting the the And system say shall into inspectors it equipped ships tanks, straight the found and at significant black were all three overboard. was cruise dumping the the of operators. the operating

press. The that has clean for the effect, and is account So avenues. up in is nobody needs going LiqTech global kind to me that of numerous applications industry really

Sune Mathiesen

[ph] cheating. that What that see that somehow sure be bills not see or Robert And to for be going I is agree referring diluting that's see the you're with it in compliance. we to are we owners lot now right in water that Roger. a allowed the ship of We future. to you

and think environmental we solutions. matters is to around of positioned of of take general And I we awareness world's I that, have advantage then to that increasing very solution the the right good environmental the are think some that globe now.

Roger Liddell

of have of have collaboration there, operators or in that's could XXXX to IMO the vessel certain spoken quite out shipyards. owners outreach and may of that with be stack in is of but past conduct on that That owners reaching standards through gas the own standards from be separate distinct would and emissions. You directly their in significant ordered existing excess vessels,

selling that you care all know on the to and owners do And direct at to we are So going orders certain outreach? comment coming through how direct to channel are operators? that that of

Sune Mathiesen

smaller compliance in You're terms It the ship We understand approaching direct with owners correct. in they absolutely is an savings, us to and offer important energy we it's of of regulations. using. that terms stay-in that in make guaranteed think importantly of footprint sure contact are for advantages to we terms most with

large the have And trying are towards something to contact with we we been ship and So owners suppliers' do initiatives continue to manufacturers and all global industry. equipment that to plan in expand in stay future. specify is our and on

Operator

next be Anderson Instructions] ahead. Your KTG. of John Please [Operator question will go from

John Anderson

it first in that and they're time to specified you have couple of saw received assume So Can you the they're questions. this talk thus throughout QX? clearance Is you've think that about the I building of the orders actually building far. orders QX? logical guys still amount that you

Sune Mathiesen

mentioned pleased order is seen in stages in in to good Yes, throughout and we And happy are is have we I very, let's that good year that say this ramp all, my -- resulting that. activity prepared very we we're a industry. still see up the book now this building, as really the remarks, in with

year backlog this that continue. since to for to We the our continue next build to come. ever reasons have will expect the and believe also all will And years

stages are that but And it's we future. let's the a seeing, with these, early trend we're we very say results pleased for think so

John Anderson

changing And time getting you just are the orders as of clearance opposed clip, the at are a in any commentary come a seeing orders couple there? XX X, to of

Sune Mathiesen

order Yes, changing this here what we've orders. Up one the is of is size order point, seen the one there. and until

here Now and five there. we seeing are XX mostly

we bigger. order that as And size changing. the order progress, the will size grow So, even is we believe

John Anderson

final long-term question then question on And one on your model. and orders,

In to you framework the terms that thus from terms expectations you XX levels initial first two those still far, for expect agreements your the that relative were. confidence of what received orders

over orders of total still have was between have confidence of you'll two. that it XXX those amount you quarters coming through? for Do minimum that a come degree high of the think I

Sune Mathiesen

to will it tells relationships. expectations. hopefully, many from we are would we continuing Nothing with us What add as that to of And And matter focused be at decision we the nice is after. can. new maybe the on seems very way market different our there not initial us a be now. scrubber now it us, right right suppliers be are choosing or We're choose could is a to now. not We point. and orders But for year developing next picking right it like and in year some right the work

we're believe initial see made. with But pleased how to market. that do. have that ramp we'll And to this very to we've Let’s the reason the see progress we continue in

John Anderson

then final model. And on question the long-term

that doubling for at of Just guys which the capacity guys by $XXX company next with rate. $XXX to provide actually as where as now? you in will it you be said expressing provided I of point for confidence it seems look model though end you potential million hopefully first scale the It of terms investors is as or of year, that from kind reach though XXXX, going to seems what you I would, to leverageable some long-term million capacity think, is Have actual the run bring as are reach the model very like scale. on the phase net are willing

Sune Mathiesen

we complete Yes, more definitely in get future. the will

few point. very, a very now, the we're coming this company a is We're mentioned just from and training stages. still we coming early from profitable times, are As low -- right

provide our We that we progress. matures the more in guidance pleased and matures, with as the the will specific as this market we are on a have And definitely long-term company company. stages be position early for to opportunities

Operator

be Please go question Chatard The of next Management. from Capital Timothy ahead. will Quantum

Timothy Chatard

currently on got on number you the systems of based clarify Can capacity you've the there? what is furnaces the

Sune Mathiesen

all we manufacturing the of outsourced have so Yes, basically systems.

limits we can installed. as for on of call, year. principle, right will factor now they approximately in a the manufacture. XXX once have we in the The we Right place number unlimited on capacity to that which order, have new is now that And that. furnaces that discussed earlier now limiting double our we systems So membranes capacity that capacity

Timothy Chatard

was what … It’s just -- the ceramic what the again, And help component? me

Sune Mathiesen

we ceramic and the product. membranes in-house, polyester that the manufacture of It’s the propriety

Timothy Chatard

XXX to going So XXX?

Sune Mathiesen

that's Yes, correct.

Timothy Chatard

Okay. you How quarter? many current the in systems ship did

Sune Mathiesen

disclosed We have not that.

Operator

go will Chapman, from question private Please be ahead. Bill next investor. The a

Unidentified Analyst

of -- the you year, option the the first the systems. the arrangements Do ask of I signed you price partnership plan your Can have raising you've of first raising first at two price? spring, you last all

Sune Mathiesen

We to policy. our change plans pricing have no current

conference costs discussed on X quarter the as We have the able reducing our with of approximately XX% by to manufacturing. made our been introduction great in of reduce costs progress second we our our have we And system. call, Mark

are pricing. increase But plans there develops. So market than that. Hopefully, no more complaints of to current this advantage pricing. no turns delivery course, into the yes, we so. are industries those is let's to If that happens, But how take of of important will, do where see one there

Unidentified Analyst

in pushing via we still Well, London is this the momentum you committee. this. This keep meeting scenes? for What them for phase building had just to hearing behind are experienced proposal

Sune Mathiesen

came can as the As off ago. the table. seen after weeks we far pressure we the And discussion. IMO it that's And two the since meeting no came off completely was tell table. out have that continue out; that They to

Unidentified Analyst

on you on fuels blends? you substandard concern What the the hearing are Could that? of address blending quality the -- blending about

Sune Mathiesen

scrubbers. nothing, from quite next a it [indiscernible] is able today market. also use we expecting offer is in they means a of companies oil sell that for a reluctant that capacity So the because is that understand cost that the in make companies, diesel. to to fuel. basically manufacturing we're for And it's oil fuel product the to investments what means are those they're manufacturing are can and of it the companies hearing heavy also the It uptick a lot attractive why, significant oil in And byproduct the

an basically on the more So not But manufacture availability like seen information reluctant expert to that's make we've order oil in of last press. that in of companies fuels. major the are investments to it huge softer seems the fuel. I'm the

Unidentified Analyst

don't going you're sell too out you the building that's scrubber going able take partnerships. extent ask years to do, you more more to let be XX? to Are to you me they that any if to scrubber to foresee to their And on And try different, which still partnerships, the Top plants. Yes.

Sune Mathiesen

That plan current Yes. not the we is that have.

the to certain customers. early it for to So of agreements percentage these allocate is put And us closer thing the stage. these customer in thing us. The were your at place is, capacity ties an good bad manufacturing that of a course, framework you

we development, With see no the current enter why shouldn't frameworks. reason into we new

our products. We are anyone collect who looking buy just orders from to wants to

Unidentified Analyst

Do as Okay. partnership, to companies, for concessions reason better other can that a is possibly? price on you one get want also you you price do scrubber –

Sune Mathiesen

It an have the not on anyway negotiate opportunity agreement. under us do framework order-to-order basis. opportunity gives that's an prices to And the we

us So, yes, -- it's more gives say it you could options.

Operator

question ahead. of And Preikschat be from the go Partners. next will Andy Edgebrook Please

Andy Preikschat

confirmed average XX the can For roughly that price margin you gross remind you expect? in selling orders, the us

Sune Mathiesen

average but have for we the specifically, Yes, not we selling $XXX,XXX range between typically price for disclosed these [indiscernible] system. orders, $XXX,XXX to

Andy Preikschat

Okay. agreement, $XXX,XXX. that was ASP framework the I around believe new

you just types trying between understand products. So there? of there's explain can the a difference I'm Maybe difference to there any significant is if two

Sune Mathiesen

difference. a is There

So the typical around is new you're higher the agreement, carries correct, And system a ASP. absolutely ASP. $XXX,XXX framework

Andy Preikschat

sizing explain And you the Is little the difference? bit? Can what? was why is or difference the What is specification? this a it

Sune Mathiesen

Yes.

plug-and-play filtration against will. We're It's for system framework So standalone if system, announced a is agreement. more filtration on you our component-based. system, a typical standardized recently the

will this is ours technologies, And use specific system. in different a and that their why own customer So it's combination. technology, two smaller

Andy Preikschat

a product? like I year you stated competitive a terms have market? And, X competitive what of are to you seeing can wise? does for -- what you seeing are wondering And that -- in I'm the that you someone engineering this to else advantage you time lead really develop know X

Sune Mathiesen

what we that will than good advantage. are to think systems is years we for curve, that that the more gives four mover this as on through been have have not think We learning that now. we the have definitely now. And competitor we as and that working first that new manufactured go any systems So us know we early that

terms a is cost. system in have necessarily not if knows positioned have we to right It's in here. future. through we but And very what being also price, first happen advantage So now. of in opportunity are of But gives will it necessary. of us movers. much And becomes the performance, today, we what that who do think also terms the And on well we the better fight

We have a we necessary. the proven on if have price technology fight and to ability

Andy Preikschat

great. Okay, my How that would It's no special? -- And Is in there's correct? there's of is a understanding expertise that science. patent. material lot but you define what is

Sune Mathiesen

Our ceramic patent-protected. membranes are

Andy Preikschat

Okay.

Sune Mathiesen

we developing years, technology. And eight spent more $XX that than million,

So technology. the patents, fact both But also a very not by is heart it of get in we a fact, time advantages The that money that by patent-protected, very, system that. it's to patent-protected. system, mover is, of have first that itself cost protected on the long took but but it and the lot of

Operator

question follow-up And go Please from be ahead. the of next will Jeb Clear Asset Armstrong Management. Harbor

Roger Liddell

was Mark the costs, My reductions of reductions in in system. I the believe, the said the cost it Yes, question the, again. X Roger involves you gratifying Liddell,

production have grow didn't we really let's the And satisfied be my XX% cost -- that reduction more might to reductions? able question, the that industry, marine there seemed you and Looking how opportunities back blowing the -- centers two But it to way, the what there. should and upgrades we fire at about risk focus in been be on opportunities achieved streams, higher world-class supposed to would With hand from we on reductions to by waste And as how past? rolls whole trying to that have and XXX plant think out. for period three be reason not membranes given orders aquatic so years, upgraded. part the of But the price a of power achieve where had was quickly. separately, the a company of with there opportunities coal should of or scrubber materialize. said, cost a Denmark's to the Does up time -- just now you about presumably hope were think too if I that the past in you was opportunity be

Sune Mathiesen

then to within transform did strategy at it's treatment When identify applications to opportunity. systems, can I that within references the late a number company a our IMO plants, we the large legislation have getting So in been little number our a when this of technology. of emissions, both. logo -- actually this Since from have we suitable readdress But a water successful supply within oil metal laser-focused XXXX industries gain we point, for business bit into a component cap and to we this supplier pools, on also within when in in drinking up within since to new water came decided set sulphur power we and gas. mining admit been heavy removal of out in have from industry, and the of decided XXXX, on implement new then

dedicated about forgotten the industry. our not other this we efforts XX.X% but have We into applications, have with

see the applications we as again. into those start As grow this and looking company, we grow we market will

been laser-focused turn very some for that so, hope successful we of on the And can success we of story. sales next have The these this because opportunity into long-term other see I new start But industry. into have this place, early that applications applications have in in large admit for two front is company have already We the other are in we us. looking once we where hire same made we people. to these references. plans that now rightful they past year, that scale we years, are will to And

Operator

And Keith question from be the ahead. Schaefer next will of OGIB. go Please

Keith Schaefer

versus and into markets developing? hybrid that? Are … any we moving any towards the have Do guys closed comments how you Is scrubber clarity there you the insight getting industry loop? do open have more on – guys any or loop as Or scrubbers

Sune Mathiesen

Yes, we do.

early open the an What to seems of towards makes scrubber entirely the or remove moving scrubbers, a still So the to systems. the see loop last and loop loop what sulphur that and hybrid – we stages. discussions one open market closed because from especially the ban a that two again, which harmful been things lot with it's it's of do emissions. is in sense There's other you months is you lot

but So going up from heading. standpoint a see in But we in in what's my let's prevent solution. that we way, air, ocean. good done And very the it that's, the from

to right discussions there entirely can We than a But open see, have enough from we are do ban of now. loop what scrubbers. lot more to

Keith Schaefer

see question also you've the see been Do the three -- as seven share or that you've kind market be, in you releases Top I'm seen got got spray smaller to of seeing and increasing I've some market get the these And would developing. guys guys different do Net vocal Okay. just -- so starting share echo press of or to the distributors. [indiscernible]. starting very more you are orders? We've smaller these three get you market keeping XX. orders big big where

the steam And do dogs, see you how picking market big terms so, in market's keeping what little in this developing of really guys [indiscernible]? or the up increasing here or share

Sune Mathiesen

the of of starting players also go the book top months, represented manufacturers about a see quite We market. industry, a orders. XX some -- of three probably players coming substantial see some global if new the the we smaller into back you to and lot So XX% new

that be fair numbers. any would think bit. And my bit. market three of coming I fresh say do so it's not little is to coming guess is And share fair big But a down that down a I have the the

Keith Schaefer

question here. Last Okay.

guys very like capital business. a have So you

me I'm see guys you're you XXXX. you're in basically going break-even XX a And investors is you profitable my units, and year. 'XX, that what's the going And But here get pretty of of just least when is to basically for orders. like on mind math -- the thousands, that's to units say low said can if do bar you guess, said you we're is I really to back XX at my -- be right. QX in hearing hundreds You five

product? would is when to kind market moving a do of see much deviations, several orders like line -- going that the the potential what standard So like we're with see what you higher magnitude be more in for forward, that

Sune Mathiesen

was early discussed this earlier, very, industry. is in what stages Again, very this

happy far. We are so with made we've progress extremely the

right And onwards. are ramp from I potential. in agree very, there low big and a is a that is steep very point. now coming looking We what a we're very very market XXXX into

positioned be realized order. market are furnaces continue we'll the in to I for is we're for made. the better the or the as this decision new industry. we so have taken think leaders put of be treatment And two And with we to where this on have well have we now much one that happy water we why market to three progress and very from a we get of idea But now. could very, very years far, that matures,

laser-focused maximizing right So we this now opportunity. are on

well order. in again, the take are on furnaces very we new industry. this ramp And put have We positioned of part to

Operator

and for question-and-answer ladies this like session. conclude gentlemen, remarks. Mathiesen Sune closing conference And our the will to I to his back hand would over

Sune Mathiesen

speaking call. with very look We very much thank conference you good forward Thank day. to on on likely to next joining our be a the that today Thank us call again is you in Have much. [indiscernible]. January. you And everyone for you

Operator

gentlemen, conference you, presentation. Ladies and has the concluded. Thank attending Thank you sir. today's for

disconnect You your now may lines.

LiqTech International (LIQT) 14 Nov 182018 Q3 Earnings call transcript