$LIQT
LIQTECH INTERNATIONAL INC

2017 Q2 Form 10-Q Financial Statement

#000143774917014721 Filed on August 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $2.926M $4.019M
YoY Change -27.2% 136.29%
Cost Of Revenue $2.734M $2.891M
YoY Change -5.45% 27.95%
Gross Profit $192.7K $1.128M
YoY Change -82.92% -302.05%
Gross Profit Margin 6.58% 28.07%
Selling, General & Admin $1.026M $1.088M
YoY Change -5.68% -23.82%
% of Gross Profit 532.66% 96.43%
Research & Development $114.0K $164.1K
YoY Change -30.51% -19.18%
% of Gross Profit 59.17% 14.54%
Depreciation & Amortization $240.0K $320.0K
YoY Change -25.0% -5.88%
% of Gross Profit 124.56% 28.36%
Operating Expenses $1.170M $1.358M
YoY Change -13.81% -20.89%
Operating Profit -$977.4K -$229.2K
YoY Change 326.51% -89.92%
Interest Expense $8.706K $6.602K
YoY Change 31.87% -66.39%
% of Operating Profit
Other Income/Expense, Net -$215.0K -$6.211K
YoY Change 3361.46% -91.22%
Pretax Income -$1.192M -$235.4K
YoY Change 406.6% -89.96%
Income Tax $94.00K
% Of Pretax Income
Net Earnings -$1.192M -$329.4K
YoY Change 262.02% -81.64%
Net Earnings / Revenue -40.75% -8.19%
Basic Earnings Per Share -$0.03 -$0.01
Diluted Earnings Per Share -$0.03 -$0.01
COMMON SHARES
Basic Shares Outstanding 40.67M 39.53M
Diluted Shares Outstanding 40.67M 39.53M

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.280M $640.0K
YoY Change 100.0% -79.35%
Cash & Equivalents $1.281M $637.0K
Short-Term Investments
Other Short-Term Assets $140.0K $240.0K
YoY Change -41.67% 50.0%
Inventory $5.146M $5.207M
Prepaid Expenses $139.4K $79.27K
Receivables $1.566M $3.057M
Other Receivables $331.4K $307.9K
Total Short-Term Assets $9.190M $10.63M
YoY Change -13.52% -0.68%
LONG-TERM ASSETS
Property, Plant & Equipment $2.286M $3.119M
YoY Change -26.73% -18.98%
Goodwill $7.729M
YoY Change
Intangibles $4.469K $8.260K
YoY Change -45.9%
Long-Term Investments $10.00K $20.00K
YoY Change -50.0% 100.0%
Other Assets $280.0K $1.110M
YoY Change -74.77% -75.82%
Total Long-Term Assets $2.574M $11.99M
YoY Change -78.53% -26.13%
TOTAL ASSETS
Total Short-Term Assets $9.190M $10.63M
Total Long-Term Assets $2.574M $11.99M
Total Assets $11.76M $22.62M
YoY Change -47.98% -16.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.070M $1.590M
YoY Change 30.19% 1.27%
Accrued Expenses $2.728M $1.270M
YoY Change 114.81% 26.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $30.00K $130.0K
YoY Change -76.92% -18.75%
Total Short-Term Liabilities $5.202M $3.350M
YoY Change 55.28% -19.48%
LONG-TERM LIABILITIES
Long-Term Debt $60.00K $170.0K
YoY Change -64.71% -29.17%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $56.29K $174.9K
YoY Change -67.81% -27.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.202M $3.350M
Total Long-Term Liabilities $56.29K $174.9K
Total Liabilities $5.258M $3.525M
YoY Change 49.18% -19.89%
SHAREHOLDERS EQUITY
Retained Earnings -$26.04M -$11.68M
YoY Change 123.0%
Common Stock $44.23K $39.53K
YoY Change 11.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.510M $19.09M
YoY Change
Total Liabilities & Shareholders Equity $11.76M $22.62M
YoY Change -47.98% -16.02%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$1.192M -$329.4K
YoY Change 262.02% -81.64%
Depreciation, Depletion And Amortization $240.0K $320.0K
YoY Change -25.0% -5.88%
Cash From Operating Activities -$1.320M -$370.0K
YoY Change 256.76% -21.28%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$20.00K
YoY Change -50.0% -60.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$10.00K -$20.00K
YoY Change -50.0% -60.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.825M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.740M -50.00K
YoY Change -3580.0% -125.0%
NET CHANGE
Cash From Operating Activities -1.320M -370.0K
Cash From Investing Activities -10.00K -20.00K
Cash From Financing Activities 1.740M -50.00K
Net Change In Cash 410.0K -440.0K
YoY Change -193.18% 37.5%
FREE CASH FLOW
Cash From Operating Activities -$1.320M -$370.0K
Capital Expenditures -$10.00K -$20.00K
Free Cash Flow -$1.310M -$350.0K
YoY Change 274.29% -16.67%

Facts In Submission

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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; text-indent: 54pt; font-family: Times New Roman,Times,serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Accounting Estimates</div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;--&nbsp;The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets allowance for doubtful accounts receivable, cost in excess of billings, reserve for obsolete inventory, depreciation and impairment of property plant and equipment and impairment of goodwill and liabilities billings in excess of cost commitment and contingencies, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimated.</div></div></div></div></div>
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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