<SEC-DOCUMENT>0001437749-23-001057.txt : 20230113
<SEC-HEADER>0001437749-23-001057.hdr.sgml : 20230113
<ACCEPTANCE-DATETIME>20230113171023
ACCESSION NUMBER:		0001437749-23-001057
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20230113
DATE AS OF CHANGE:		20230113
EFFECTIVENESS DATE:		20230113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIQTECH INTERNATIONAL INC
		CENTRAL INDEX KEY:			0001307579
		STANDARD INDUSTRIAL CLASSIFICATION:	MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590]
		IRS NUMBER:				201431677
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-269233
		FILM NUMBER:		23529526

	BUSINESS ADDRESS:	
		STREET 1:		INDUSTRIPARKEN 22C
		CITY:			BALLERUP
		STATE:			G7
		ZIP:			DK-2750
		BUSINESS PHONE:		01145 2390 4545

	MAIL ADDRESS:	
		STREET 1:		INDUSTRIPARKEN 22C
		CITY:			BALLERUP
		STATE:			G7
		ZIP:			DK-2750

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Blue Moose Media Inc
		DATE OF NAME CHANGE:	20041101
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>liqt20230111_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
<html><head>
	<title>liqt20230111_s8.htm</title>

	<!-- Generated by ThunderDome Portal - 1/13/2023 4:55:07 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>As filed with the Securities and Exchange Commission on January 13</b><b>, 2023</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:12pt;font-variant:normal;text-align:center;margin:0pt;"><font style="font-size:14pt;"><b>UNITED STATES</b></font><br>
<font style="font-size:14pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></font><br>
<b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:18pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM S-8</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 12pt; font-variant: normal; text-align: center; margin: 0pt;"><b>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:24pt;font-variant:normal;text-align:center;margin:0pt;"><b>LiqTech International, Inc.</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact name of registrant as specified in its charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Nevada</b></p>
			</td>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>20-1431677</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other jurisdiction of</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">incorporation or organization)</p>
			</td>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(I.R.S. Employer</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Identification No.)</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 50%;">&nbsp;</td>
			<td colspan="1" style="vertical-align: middle; width: 50%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Industriparken 22C, 2750 Ballerup,</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Denmark</b></p>
			</td>
			<td style="vertical-align: bottom; width: 50%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Address of Principal Executive Offices)</p>
			</td>
			<td style="vertical-align: top; width: 50%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Zip Code)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>LiqTech International, Inc. 2022 Equity Incentive Plan </b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Full title of the plan)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>National Registered Agents, Inc.</b><br>
<b>701 S. Carson Street, Suite 200</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Carson City, Nevada 89701</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Name and address of agent for service)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>775.888.4070</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Telephone number, including area code, of agent for service)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an &#8220;emerging growth company&#8221;. See definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Large accelerated filer &#9744;</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Smaller reporting company &#9746;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Non-accelerated filer &#9746;</p>
			</td>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Emerging growth company &#9744;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:auto;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Accelerated filer &#9744;</p>
			</td>
			<td style="vertical-align:middle;width:auto;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If an emerging growth company, indicate by checkmark if the registrant has not elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. &#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>PART I</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 1. Plan Information.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;">The information required by Item 1 is included in documents sent or given to participants in the LiqTech International, Inc. 2022 Equity Incentive Plan (the &#8220;<u>Plan</u>&#8221;) pursuant to Rule 428(b)(1) of the Securities Act of 1933, as amended (the &#8220;<u>Securities Act</u>&#8221;).</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 2. Registrant Information and Employee Plan Annual Information.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;">The written statement required by Item 2 is included in documents sent or given to participants in the Plan pursuant to Rule 428(b)(1) of the Securities Act.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>PART II</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 3. Incorporation of Documents by Reference.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The following documents have been previously filed by LiqTech International, Inc. (the &#8220;<u>Company</u>&#8221;) with the Securities and Exchange Commission (the &#8220;<u>SEC</u>&#8221;) and are hereby incorporated by reference into this registration statement and shall be deemed a part hereof:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">(a) The Annual Report of the Company on Form 10-K for the fiscal year ended December 31, 2021, filed with the SEC on March 31, 2022;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">(b) The Quarterly Report of the Company on Form 10-Q for the quarter ended March 31, 2022, filed with the SEC on May 12, 2022, the Quarterly Report of the Company on Form 10-Q for the quarter ended June 30, 2022, filed with the SEC on August 11, 2022, and the Quarterly Report of the Company on Form 10-Q for the quarter ended September 30, 2022, filed with the SEC on November 10, 2022;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">(c) Our Current Reports on Form 8-K filed with the SEC on March 18, 2022 (as amended by that Form 8-K/A filed with the SEC on March 28, 2022), April 29, 2022, May 17, 2022, June 27, 2022, June 28, 2022, June 29, 2022, August 1, 2022, September 13, 2022, November 17, 2022, and November 22, 2022 (other than the information furnished rather than filed thereon);</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">(d) The description of the Company&#8217;s Common Stock contained in the registration statement on Form 8-A (Registration No. 001-37606) filed with the SEC on April 15, 2019, including any amendments or reports filed for the purpose of updating such description, including the description of the Registrant&#8217;s common stock included as <a href="http://www.sec.gov/Archives/edgar/data/1839412/000141057822000957/qtekw-20211231xex4d1.htm" style="-sec-extract:exhibit;"><u>Exhibit 4.4 to the Company&#8217;</u><u>s Annual Report on Form 10-K filed with the SEC on March 30, 2022</u></a>.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">All reports and other documents subsequently filed by the registrant pursuant to sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended, except for information furnished under Item 2.02 or 7.01 of Current Report on Form 8-K, or exhibits related thereto, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference herein and to be a part of this registration statement from the date of the filing of such reports and documents.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Any statement contained in a document incorporated or deemed to be incorporated by reference in this Registration Statement shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement. Any Current Report on Form 8-K that is furnished to the SEC but not filed with the SEC is not deemed incorporated by reference into this Registration Statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 4. Description of Securities.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Not applicable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 5. Interests of Named Experts and Counsel</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Not applicable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 6. Indemnification of Directors and Officers. </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Subsection (1) of Section 78.7502 of the Nevada General Corporation Law empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party of any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against expenses (including attorney&#8217;s fees), judgment, fines, and amounts paid in settlement actually and reasonably incurred by him or her in connection with the action, suit, or proceeding if the person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to be the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Subsection (2) of Section 78.7502 of the Nevada General Corporation Law empowers a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending, or completed action or suit by or in the right of the corporation to procure a judgment in favor by reason of the fact that such person acted in any of the capacities set forth in subsection (1) enumerated above, against expenses (including amounts paid in settlement and attorney&#8217;s fees) actually and reasonably incurred by him or her in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation except that no indemnification may be made in respect to any claim, issue, or matter as to which such person shall have been adjudged to be liable to the corporation, unless and only to the extent that the court in which such action or suit was brought determines that in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnify for such expenses which the court shall deem proper.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Subsection (3) of Section 78.7502 of the Nevada General Corporation Law provides that to the extent a director, officer, employee, or agent of a corporation has been successful in the defense of any action, suit, or proceeding referred to in subsection (1) and (2) or in the defense of any claim, issue, or matter therein, that person shall be indemnified against expenses (including attorney&#8217;s fees) actually and reasonable incurred by him or her in connection therein.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Our Articles of Incorporation and bylaws provide that, to the fullest extent that limitations on the liability of directors and officers are permitted by the Nevada Revised Statutes, no director or officer of the Company shall have any liability to the Company or its stockholders for monetary damages. The Nevada Revised Statutes provide that a corporation's charter may include a provision which restricts or limits the liability of its directors or officers to the corporation or its stockholders for money damages except: (1) to the extent that it is provided that the person actually received an improper benefit or profit in money, property or services, for the amount of the benefit or profit in money, property or services actually received, or (2) to the extent that a judgment or other final adjudication adverse to the person is entered in a proceeding based on a finding in the proceeding that the person's action, or failure to act, was the result of active and deliberate dishonesty and was material to the cause of action adjudicated in the proceeding. Our articles of incorporation and bylaws provide that we shall indemnify and advance expenses to our currently acting and former directors to the fullest extent permitted by the Nevada Revised Statutes and that we shall indemnify and advance expenses to our officers to the same extent as our directors and to such further extent as is consistent with law.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The articles and bylaws provide that we will indemnify our directors and officers and may indemnify our employees or agents to the fullest extent permitted by law against liabilities and expenses incurred in connection with litigation in which they may be involved because of their offices with us. However, nothing in our articles of incorporation or bylaws protects or indemnifies a director, officer, employee or agent against any liability (i) for acts or omissions which involve intentional misconduct, fraud or knowing violation of law, or (ii) the payment of dividends in violation of Section 78.300 of the Nevada Revised Statutes. To the extent that a director has been successful in defense of any proceeding, the Nevada Revised Statutes provide that he shall be indemnified against reasonable expenses incurred in connection therewith.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, we have been advised that in the opinion of the SEC such indemnification is against public policy and is, therefore, unenforceable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 7. Exemption from Registration Claimed.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Not applicable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Item 8. Exhibits.</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Exhibit</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>No.</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Description of Exhibit</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">5.1</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_463832.htm" style="-sec-extract:exhibit;">Opinion of Snell &amp; Wilmer, L.L.P.&nbsp;</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">23.1</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_463275.htm" style="-sec-extract:exhibit;">Consent of Sadler, Gibb &amp; Associates, LLC</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">23.2</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_463832.htm" style="-sec-extract:exhibit;">Consent of Snell &amp; Wilmer, L.L.P. (incorporated from Exhibit 5.1)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">24.1</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="#poa" style="-sec-extract:exhibit;">Power of Attorney (included on signature page hereto)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">99.1</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><a href="http://www.sec.gov/Archives/edgar/data/1307579/000143774922023335/liqt20220927_def14a.htm" style="-sec-extract:exhibit;">LiqTech International, Inc. 2022 Equity Incentive Plan (incorporated by reference to Annex A to the Company&#8217;s Proxy Statement pursuant to Section 14(a) of the Exchange Act filed with the SEC on October 3, 2022)</a></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">107</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_463276.htm" style="-sec-extract:exhibit;">Filing Fee Table</a></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Item 9. Undertakings</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>1. </b>The undersigned registrant hereby undertakes:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b>(a) </b>To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;text-indent:36pt;"><b>(i) </b>To include any prospectus required by section 10(a)(3) of the Securities Act;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;"><b>(ii) </b>To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) (&#167; 230.424(b) of this chapter) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 72pt;"><b>(iii) </b>To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><i>provided, however, </i>that paragraphs (a)(i) and (a)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b>(b) </b>That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 36pt;"><b>(c) </b>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>2. </b>The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>3. </b>Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SIGNATURES</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Ballerup, Denmark, as of the 13th day of January 2023.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td colspan="2" style="vertical-align: bottom; width: 10%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>LIQTECH INTERNATIONAL, INC.</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 10%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 89%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 10%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By:</p>
			</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 89%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Fei Chen</i></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 10%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Name:</p>
			</td>
			<td style="vertical-align: bottom; width: 89%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Fei Chen</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 10%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Title:</p>
			</td>
			<td style="vertical-align: bottom; width: 89%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chief Executive Officer, Principal</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: bottom; width: 1%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 10%;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 89%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Executive Officer and Director</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;"><a id="poa" name="poa" title="poa"></a>We, the undersigned officers and directors of LiqTech International, Inc., do hereby constitute and appoint Fei Chen our true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for her and in her name, place and stead, in any and all capacities, to sign any and all amendments to this Registration Statement, and to file the same, with exhibits thereto, and other documents in connection therewith, with the SEC, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite are necessary to be done in and about the premises, as fully to all intents and purposes as she might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:18pt;">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated below:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Signatures</b></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Title(s)</b></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 14%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Date</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Fei Chen</i></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chief Executive Officer (Principal Executive Officer) and Director</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">January 13, 2023</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Fei Chen</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Simon Stadil</i></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Principal Financial Officer (Principal Financial and Accounting Officer)</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%; text-align: center;">January 13, 2023</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Simon Stadil</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Mark Vernon</i></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chairman of the Board</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%; text-align: center;">January 13, 2023</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Mark Vernon</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Alexander Buehler </i></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%; text-align: center;">January 13, 2023</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Alexander Buehler</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Peyton Boswell </i></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%; text-align: center;">January 13, 2023</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Peyton Boswell</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Richard Meeusen </i></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%; text-align: center;">January 13, 2023</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 15%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Richard Meeusen</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 69%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 14%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ex_463832.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html><head>
	<title>ex_463832.htm</title>

	<!-- Generated by ThunderDome Portal - 1/13/2023 7:12:03 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 5.1</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<div style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"><img alt="a03.jpg" src="a03.jpg"></div>

<div style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</div>

<div style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</div>

<div style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</div>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 50%;">January 13, 2023</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 180pt;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">LiqTech International, Inc.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">c/o LiqTech North America, Inc.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1804 Buerkle Road</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">White Bear Lake, MN 55110</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">&nbsp;</td>
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Re:</p>
			</td>
			<td style="width: auto;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Registration on Form S-8</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ladies and Gentlemen:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">We have acted as your counsel in connection with the registration statement on Form S-8 (the &#8220;Registration Statement&#8221;) filed by LiqTech International, Inc., a Nevada corporation (the &#8220;Company&#8221;), with the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) for the registration of 8,000,000 shares of the Company&#8217;s common stock, par value $0.001 per share, which are reserved for issuance under the Company&#8217;s 2022 Equity Incentive Plan, effective September 8, 2022 (the &#8220;Plan&#8221;). The shares of common stock registered under the Registration Statement are referred to in this letter collectively as the &#8220;Shares.&#8221;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">You have requested our opinion as to the matters set forth below in connection with the Registration Statement. For purposes of rendering this opinion, we have examined the Registration Statement, the Plan, the Company&#8217;s articles of incorporation, as amended, and bylaws, as amended, and the corporate action of the Company that provides for the issuance of the Shares and filing of the Registration Statement, and we have made such other investigation as we have deemed appropriate. We have examined and relied upon certificates of public officials and, as to certain matters of fact that are material to our opinion, we have also relied on certificates made by officers of the Company. In rendering our opinion, in addition to the assumptions that are customary in opinion letters of this kind, we have assumed the genuineness of signatures on the documents we have examined, the legal capacity and authority of the persons signing the documents we have examined, the conformity to authentic documents of all documents submitted to us as copies, and that the Company will have sufficient authorized and unissued shares of common stock available with respect to any of the Shares issued after the date of this letter. We have not verified any of these assumptions.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">This opinion is rendered as of the date of this letter and is limited to matters of Nevada corporate law, including applicable provisions of the Nevada Constitution and reported judicial decisions interpreting those laws. We express no opinion as to the laws of any other state, the federal law of the United States, or the effect of any applicable federal or state securities laws.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;">ALBUQUERQUE &nbsp;&nbsp; BOISE&nbsp;&nbsp;&nbsp; DALLAS&nbsp;&nbsp;&nbsp; DENVER&nbsp;&nbsp;&nbsp; LAS VEGAS&nbsp;&nbsp;&nbsp; LOS ANGELES&nbsp;&nbsp;&nbsp; LOS CABOS&nbsp;&nbsp;&nbsp; ORANGE COUNTY<br>
PHOENIX&nbsp;&nbsp;&nbsp; PORTLAND&nbsp;&nbsp;&nbsp; RENO&nbsp;&nbsp;&nbsp; SALT LAKE CITY&nbsp;&nbsp;&nbsp; SAN DIEGO&nbsp;&nbsp;&nbsp; SEATTLE&nbsp;&nbsp;&nbsp; TUCSON&nbsp;&nbsp;&nbsp; WASHINGTON, D.C.</p>
</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">
<div><img alt="a02.jpg" src="a02.jpg"></div>
</div>
</div>
</div>
</div>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">LiqTech International, Inc.<br>
January 13, 2023<br>
Page 2</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Based upon and subject to the foregoing, it is our opinion that the Shares are duly authorized for issuance by the Company and, when awarded, issued, and paid for in accordance with the Plan, will be validly issued, fully paid, and nonassessable.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">We consent to the filing of this opinion as an exhibit to the Registration Statement. In giving our consent we do not admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations under such act.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;text-indent:27pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 50%;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">Very truly yours,</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">/s/ <i>Snell &amp; Wilmer L.L.P.</i></p>
			</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Snell &amp; Wilmer L.L.P.</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 180pt;text-indent:36pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>ex_463275.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<html><head>
	<title>ex_463275.htm</title>

	<!-- Generated by ThunderDome Portal - 1/13/2023 12:40:05 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size:10pt;font-family:'Times New Roman';padding:0in .1in;">
<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 23.1</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">LiqTech International, Inc.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Ballerup, Denmark</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">As independent registered public accountants, we hereby consent to the incorporation by reference in this Registration Statement on Form S-8 pertaining to the 2022 Equity Incentive Plan of LiqTech International, Inc. of our report dated March 30, 2022, with respect to the consolidated financial statements of LiqTech International, Inc. included in its Annual Report (Form 10-K) for the years ended December 31, 2021 and 2020, filed with the Securities and Exchange Commission.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">We also consent to the reference of our firm under the caption &#8220;Experts&#8221; in this registration statement.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>/s/ Sadler, Gibb &amp; Associates, LLC</i></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Draper, UT</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">January 13, 2022</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>ex_463276.htm
<DESCRIPTION>EXHIBIT FILING FEES
<TEXT>
<html><head>
	<title>ex_463276.htm</title>

	<!-- Generated by ThunderDome Portal - 1/13/2023 12:42:07 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no">
</head>
<body style="font-size: 10pt; font-family: &quot;Times New Roman&quot;; padding: 0in 0.1in; cursor: auto;">
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>Exhibit 107 </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Calculation of Filing Fee Table </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><u>Form S-8</u></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Form Type)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><u>LiqTech International, Inc. </u></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact Name of Registrant as Specified in its Charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><u>Table 1: Newly Registered Securities</u></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td colspan="3" style="vertical-align: bottom; width: 8%; border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Security Type</b></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 34%; border-left: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Security</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Class</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Title</b></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 11%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Fee</b><br>
			<b>Calculation</b><br>
			<b>Rule</b></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 9%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Amount</b><br>
			<b>Registered</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><sup style="vertical-align:top;line-height:120%;"><b>(1)</b></sup></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 10%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Proposed</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Maximum</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Offering</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Price per</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Share</b><b><sup style="vertical-align:top;line-height:120%;">(2) </sup></b></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 11%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Maximum</b><br>
			<b>Aggregate</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Offering Price</b></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 8%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Fee</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Rate</b></p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 9%; border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Amount of</b><br>
			<b>Registration</b><br>
			<b>Fee</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="3" style="vertical-align: top; width: 8%; border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Equity</p>
			</td>
			<td colspan="3" style="vertical-align: top; width: 34%; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Common Stock, $0.001 par value per share, reserved for issuance under the LiqTech International, Inc. 2022 Equity Incentive Plan</p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 11%; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Rule 457(c)<br>
			and Rule 457(h)</p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 9%; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">8,000,000</p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 10%; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); text-align: center;">$0.43</td>
			<td colspan="3" style="vertical-align: bottom; width: 11%; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); text-align: center;">$3,440,000</td>
			<td colspan="3" style="vertical-align: bottom; width: 8%; border-top: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">0.0001102</p>
			</td>
			<td colspan="3" style="vertical-align: bottom; width: 9%; border-color: rgb(0, 0, 0); border-style: solid; border-width: 1px; text-align: center;">$379.09</td>
		</tr>
		<tr>
			<td colspan="12" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 53%; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Total Offering Amounts</b></p>
			</td>
			<td colspan="3" style="vertical-align: middle; width: 10%; border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="vertical-align: bottom; width: 11%; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0); text-align: center;">$3,440,000</td>
			<td colspan="3" style="vertical-align: middle; width: 8%; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="vertical-align: bottom; width: 9%; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">$379.09</td>
		</tr>
		<tr>
			<td colspan="12" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 53%; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Total Fee Offsets</b></p>
			</td>
			<td colspan="3" style="vertical-align: middle; width: 10%; border-left: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="vertical-align: middle; width: 11%; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="vertical-align: middle; width: 8%; border-bottom: 1px solid rgb(0, 0, 0); border-left: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="vertical-align: bottom; width: 9%; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">-</td>
		</tr>
		<tr>
			<td colspan="12" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 53%; border-left: 1px solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Net Fee Due</b></p>
			</td>
			<td colspan="3" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: 10%; border-left: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: 11%; border-left: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: middle; width: 8%; border-left: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="3" style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; width: 9%; border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); text-align: center;">$379.09</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;">(1)</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;">In accordance with Rule 416(a) under the Securities Act of 1933, as amended (the &#8220;<u>Securities Act</u>&#8221;), this registration statement on Form S-8 (the &#8220;<u>Registration Statement</u>&#8221;) shall be deemed to cover any additional shares of Common Stock, $0.001 par value per share (the &#8220;<u>Common Stock</u>&#8221;) of LiqTech International, Inc. (the &#8220;<u>Company</u>&#8221;) that become issuable under the plans set forth herein by reason of any stock dividend, stock split, recapitalization, or other similar transaction effected that results in an increase to the number of outstanding shares of the Company&#8217;s Common Stock, as applicable.</p>

			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;">&nbsp;</p>
			</td>
		</tr>
		<tr style="vertical-align: top;">
			<td style="width: 18pt;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;">(2)</p>
			</td>
			<td style="width: auto;">
			<p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;">Estimated in accordance with Rules 457(c) and 457(h) promulgated under the Securities Act solely for purposes of calculating the registration fee and based on the average of the high and low prices of the Common Stock as reported on the Nasdaq Global Market on January 12, 2023.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>a02.jpg
<TEXT>
begin 644 a02.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X0 L17AI9@  34T *@    @  0$Q  (
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M$T2W#"W\<+9V\V < VTVZ8^G,) ]\5O?&.8>'M+T3QC$G/AV_#L%7GRID,+
M?BR'\*])HJSE/$OB'HLGA_\ 9*FTZYV_:4M[5[DK_%,]S&\A_%V:MG4/^2C^
M//\ L58?Y35ZI10!XSK'_)GL?_8 M_Y)6U\4O^2;Z!_V%=-_]&+7IE% 'SIK
MWACX?>'?B#XCG^+>D7)M]3OC=Z;JH-SY+JZY:$^2>&5@W49(JKXIT;P]8_ 7
MQE?^$_"EQH&G75S9QP3W-Q,TE\B3+B3RY"3&H+L!Z]?2OI6B@!$_U:_04M%%
$ '__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>a03.jpg
<TEXT>
begin 644 a03.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_X0 L17AI9@  34T *@    @  0$Q  (
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M,LJM=R1G#B)8QP >-S<$BL+Q7XK_ .$M\"Z)<3VAL=0L_%MG97]F7#>1/',
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M7(WR<( !SMK>BL[C3_A?Y^GZ?> Z??27]E8);E9C MTTB0K%@%28?E"$ @$
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MME)VXWPQ?.& 7Y'& OS<\@&+3_"FG3Z]I.L7WA:RM]1_LKS)Y6@6:2*X'E
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M<W,5@L)>W\Q8GM9Y)@6&X;E;S-I *D '!R>-#PQ>76I:(NH7D@<7DLDUN H
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)110 4444 ?_9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
