GENTOFTE, DENMARK--(Marketwire - Mar 26, 2012) - LiqTech International, Inc. (OTCQX: [ LIQT ]) (PINKSHEETS: [ LIQT ]) ("LiqTech") announced today its financial and operational results for the last 12 months.

Financial highlights for the year ended December 31, 2011:

Net sales for the year ended December 31, 2011 were $21,192,177 compared to $15,728,817 for the year ended December 31, 2010, representing an increase of $5,463,360 or 35 percent
Gross profit for the year ended December 31, 2011 was $5,027,811 compared to $3,673,844 for the year ended December 31, 2010, representing an increase of $1,353,967 or 37 percent
Net income attributable to the Company for the year ended December 31, 2011 was $917,211 compared to a loss of $6,629 for the year ended December 31, 2010, representing an increase of $923,840

Financial highlights for the three months ended December 31, 2011:

Net sales for the three month period ended December 31, 2011 were $7,639,431 compared to $3,267,640 for the same period in 2010, representing an increase of $4,371,791 or 133.8 percent.
Gross profit for the three month period ended December 31, 2011 was $1,712,559 compared to $607,090 for the same period in 2010, representing an increase of $1,105,469 or 182.1 percent.
Net income attributable to the Company for the three month period ended December 31, 2011 was $538,968 compared to a loss of $269,510 for the comparable period in 2010, representing an increase of $808,478

Operational Highlights for last 12 months:

Company completed reverse merger with Blue Moose Media, Inc.
Company entered into an alliance with Scandinavian Brake Systems; Company expands production capacity of diesel particulate filters from 400,000 liters to 1,400,000 liters
LiqTech Pte Ltd was established as a majority owned company of Liqtech International A/S, and will service the South East Asian markets covering the entire LiqTech product portfolio
Company uplists on the OTC market's highest tier, OTCQX^®
LiqTech issued 2,511,500 shares of its common stock in a registered direct placement of its shares at a per share price of $3.25 with net proceeds to LiqTech from the initial closing of approximately $7.4 million

"This has been a very exciting year for everyone at LiqTech. During 2011, we became a public Company, significantly increased our revenues and product offerings, and most importantly increased our bottom line profit numbers by more than $900,000. In addition, we have successfully expanded our DPF business, established an office in South East Asia, uplisted our securities to trade on the highest level the OTC Market offers and successfully raised capital to continue to grow our business. We are pleased with the Company's performance while we continue growing and expanding into new markets," concluded Mr. Andreassen.

ABOUT LIQTECH INTERNATIONAL, INC.
LiqTech International, Inc., a Nevada corporation, is a clean technology company that for more than a decade has developed and provided state-of-the-art technologies for gas and liquid purification using ceramic silicon carbide filters, particularly, highly specialized filters for the control of soot exhaust particles from diesel engines and for liquid filtration. It also manufactures kiln furniture. Using nanotechnology, LiqTech develops products using proprietary silicon carbide technology. LiqTech's products are based on unique silicon carbide membranes which facilitate new applications and improve existing technologies. For more information, please visit [ www.liqtech.com ].

-Financial charts follow-

LIQTECH INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

				As of December 31,		As of December 31,
				2011		2010
CURRENT ASSETS:
	Cash			$	1,033,057	$	559,259
	Accounts Receivable, net				5,299,569		3,029,075
	Other Receivables				1,528,362		517,296
	Inventories				2,980,583		1,885,681
	Prepaid Expenses				301,375		110,552
	Current Deferred Tax Asset				17,786		7,000

			Total Current Assets		11,160,732		6,108,863

PROPERTY AND EQUIPMENT, net of accumulated depreciation					6,647,217		6,423,027

OTHER ASSETS:
	Other Intangible Assets				34,167		81,554
	Other Investments				6,483		-
	Deposits				146,184		43,537

			Total Other Assets		186,834		125,091

		Total Assets		$	17,994,783	$	12,656,981



LIQTECH INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

			As of December 31,			As of December 31,
			2011			2010
CURRENT LIABILITIES:
Lines of Credit			$	1,259,936		$	1,033,088
Current Portion of Notes Payable				259,396			100,000
Notes Payable -Related Party, net of discount				3,328,183			-
Current Portion of Capital Lease Obligation				191,444			156,204
Accounts Payable - Trade				3,026,960			1,065,567
Accrued Expenses				1,212,746			718,712
Accrued Income Taxes Payable				3,710			-
Other Accrued Liabilities				154			7,155

		Total Current Liabilities		9,282,529			3,080,726

Notes Payable and Long-Term Debt, less current portion				350,000			400,000
Long-Term Capital Lease Obligations, less current portion				950,351			925,749
Deferred Tax Liability				668,484			480,040

		Total Long-Term Liabilities		1,968,835			1,805,789
		Total Liabilities		11,251,364			4,886,515

STOCKHOLDERS' EQUITY:
Common Stock; par value $0,001, 100,000,000 and 100,000,000 shares authorized, 21,600,000 and 9,308,333 shares issued and outstanding at December 31, 2011 and December 31, 2010.				21,600			9,309
Additional Paid-in Capital				5,603,517			2,532,776
Treasury Stock, at cost, 46,070 shares held at December 31, 2011 and December 31, 2010				-			(25,019	)
Retained Earnings				5,284,583			4,367,372
Deferred Compensation				(268,282	)		-
Other Comprehensive Income, net				(596,011	)		(256,123	)
Note Receivable from a Shareholder, net of discount				(3,328,183	)		(80,000	)
Non-controlled Interest in Subsidiaries				26,195			1,222,151
		Total Stockholders' Equity		6,743,419			7,770,466

	Total Liabilities and Stockholders' Equity		$	17,994,783		$	12,656,981



LIQTECH INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

			FOR THE YEAR ENDED
			DECEMBER 31,
			2011			2010
NET SALES			$	21,192,177		$	15,728,817

COST OF GOODS SOLD				16,164,366			12,054,973

GROSS PROFIT				5,027,811			3,673,844

OPERATING EXPENSES:
	Selling Expense			1,484,992			1,476,656
	General and Administrative Expenses			1,943,333			1,748,596
	Research and Development			502,413			421,518

		Total Operating Expense		3,930,738			3,646,770

INCOME FROM OPERATIONS				1,097,073			27,074

OTHER INCOME (EXPENSE)
	Interest and Other Income			100,986			64,916
	Interest (Expense)			(203,682	)		(214,520	)
	(Loss) on Investments			(57,684	)		(123,647	)
	Gain on Currency Transactions			10,271			86,377
	Gain (Loss) on Sale of Fixed Assets			411,436			(9,801	)

		Total Other Income (Expense)		261,327			(196,675	)

INCOME BEFORE INCOME TAXES				1,358,400			(169,601	)

INCOME TAX EXPENSE				359,508			145,531

				998,892			(315,132	)

NET INCOME (LOSS) LESS NET INCOME (LOSS) ATTRIBUTABLE TO NON- CONTROLLED INTEREST IN SUBSIDIARIES				81,681			(308,503	)

NET INCOME (LOSS) ATTRIBUTABLE TO LIQTECH			$	917,211		$	(6,629	)



LIQTECH INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	FOR THE YEAR ENDED
	DECEMBER 31,
	2011		2010

BASIC EARNINGS PER SHARE	$	0.06	$	(0.00	)

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING		14,165,217		9,308,333

DILUTED EARNINGS PER SHARE	$	0.06	$	(0.00	)

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING ASSUMING DILUTION		16,096,973		9,308,333

Forward-Looking Statements
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contributing Sources

Market Wire

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LiqTech International, Inc. Reports 2011 Fiscal Year-End Results

LiqTech International, Inc. Reports 2011 Fiscal Year-End Results