LIQTECH INTERNATIONAL INC
For the period ended Dec 31, 2023. Filed Mar 22, 2024.
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FY2023 · Filed Mar 22, 2024
LIQT$0.300.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets at December 31, 2023 and 2022
CONSOLIDATED BALANCE SHEETS
| As of | As of | |
|---|---|---|
| December 31, | December 31, | |
| 2023 | 2022 | |
| Current Assets: | ||
| Cash, cash equivalents and restricted cash | $10,422,181 | $16,597,371 |
| Accounts receivable, net of allowance for doubtful accounts of $134,912 and $59,559 at December 31, 2023 and December 31, 2022, respectively | 3,171,047 | 2,310,344 |
| Inventories, net of allowance for excess and obsolete inventory of $867,458 and $663,227 at December 31, 2023 and December 31, 2022, respectively | 5,267,816 | 4,062,001 |
| Contract assets | 2,891,744 | 2,253,295 |
| Prepaid expenses and other current assets | 337,391 | 1,720,902 |
| Assets held for sale | - | 723,872 |
| Total Current Assets | 22,090,179 | 27,667,785 |
| Long-Term Assets: | ||
| Property and equipment, net of accumulated depreciation of $11,828,200 and $9,046,499 at December 31, 2023 and December 31, 2022, respectively | 9,007,166 | 8,296,807 |
| Operating lease right-of-use assets | 4,055,837 | 3,271,997 |
| Deposits and other assets | 470,349 | 450,038 |
| Intangible assets, net of accumulated amortization of $558,555 and $438,250 at December 31, 2023 and December 31, 2022, respectively | 114,593 | 212,933 |
| Goodwill | 233,723 | 226,095 |
| Total Long-term Assets | 13,881,668 | 12,457,870 |
| Total Assets | $35,971,847 | $40,125,655 |
CONSOLIDATED BALANCE SHEETS
| As of | As of | |
|---|---|---|
| December 31, | December 31, | |
| 2023 | 2022 | |
| Current Liabilities: | ||
| Accounts payable | $2,444,653 | $1,389,355 |
| Accrued expenses | 3,550,542 | 3,087,206 |
| Current portion of finance lease obligations | 590,550 | 399,198 |
| Current portion of operating lease liabilities | 531,355 | 561,182 |
| Contract liabilities | 382,647 | 649,557 |
| Total Current Liabilities | 7,499,747 | 6,086,498 |
| Deferred tax liability | 101,059 | 154,645 |
| Finance lease obligation, net of current portion | 2,879,932 | 2,384,011 |
| Operating lease liability, net of current portion | 3,527,082 | 2,710,815 |
| Senior promissory notes payable | 4,688,011 | 5,480,314 |
| Total Long-term liabilities | 11,196,084 | 10,729,785 |
| Total Liabilities | 18,695,831 | 16,816,283 |
| Stockholders' Equity: | ||
| Preferred stock; par value $0.001, 2,500,000 shares authorized, 0 shares issued and outstanding at December 31, 2022 and December 31, 2021 | - | - |
| Common stock; par value $0.001, 50,000,000 shares authorized 5,727,310 and 5,498,260 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | 5,727 | 5,498 |
| Additional paid-in capital | 98,796,357 | 96,975,476 |
| Accumulated deficit | (75,922,180) | (67,351,035) |
| Accumulated other comprehensive loss | (5,603,888) | (6,320,567) |
| Total Stockholders' Equity | 17,276,016 | 23,309,372 |
| Total Liabilities and Stockholders' Equity | $35,971,847 | $40,125,655 |
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