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LIQT on Nasdaq

LIQTECH INTERNATIONAL INC

LIQTECH INTERNATIONAL INC is an American misc industrial and commercial machinery and equipment company.2 It is headquartered in Carson City, United States.2

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Last updated Oct 21, 2026.

Overview

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  • TickerLIQT on Nasdaq2
  • IndustryMisc Industrial & Commercial Machinery & Equipment2
  • HeadquartersCarson City, United States2
  • Incorporated inNV3
  • Business addressIndustriparken 22C, Ballerup, G7 Dk-27503
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formProfit Corporation2
  • LEI5493001UFZ03YRLEYN282
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O NATIONAL REGISTERED AGENTS, INC., 89701 Carson City, United States2
  • Registered withBusiness Center (Secretary of State), C17450-20042

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The forward-looking statements included herein are based on current expectations that involve numerous risks and uncertainties. Our plans and objectives are based, in part, on assumptions involving the continued expansion of our business. Assumptions relating to the foregoing involve judgments with respect to, among other things, future political, legislative, economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. This is especially underlined by the anticipated impacts from the prevailing macro-economic uncertainty on the Company, including the related effects to our business operations, results of operations, cash flows, and financial position. Although we believe that our assumptions underlying the forward-looking statements are reasonable, any of the assumption…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

7.6%Gross margin5
-50.3%Operating margin5
-51.7%Net margin5
13.0%Revenue growth, 20255
-81.7%Return on equity5
-$6.5MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Systems and Aftermarket brought in 50% of the revenue LIQTECH INTERNATIONAL INC broke down this way in fiscal 2025.

  1. Systems and Aftermarket$8.2M550%up 49% from 2024
  2. Components$4.1M525%up 22% from 2024
  3. Filters and Membranes$4.0M524%down 29% from 2024
  4. Corporate$137.0K51%up 177% from 2024
Business segments by year
Business segments20242025
Systems and Aftermarket$5.5M$8.2M
Components$3.4M$4.1M
Filters and Membranes$5.6M$4.0M
Corporate$49.5K$137.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue92¢$15.3M
  • Research and development7¢$1.2M
  • Other costs1¢$85.4K
  • Income tax0¢$1.5K

Out of $16.5M in revenue.5 The company lost money this year.

Financial statements

Revenue6789105$16.5M in 2025−49% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $32.6M$32.6M20192020: $22.5M$22.5M2020−31%2021: $18.3M$18.3M2021−19%2022: $16.0M$16.0M2022−13%2023: $18.0M$18.0M2023+13%2024: $14.6M$14.6M2024−19%2025: $16.5M$16.5M2025+13%
Gross profit6789105$1.3M in 2025−83% since 2019
0$2.0M$4.0M$6.0M$8.0M2019: $7.2M$7.2M20192020: $2.1M$2.1M2020−70%2021: $1.6M$1.6M2021−27%2022: $567.1K$567.1K2022−64%2023: $2.8M$2.8M2023+389%2024: $250.9K$250.9K2024−91%2025: $1.3M$1.3M2025+398%
Operating income6789105-$8.3M in 2025+1340% since 2019
-$15.0M-$10.0M-$5.0M02019: -$577.1K-$577.1K20192020: -$8.3M-$8.3M2020+1330%2021: -$10.7M-$10.7M2021+29%2022: -$12.5M-$12.5M2022+17%2023: -$7.8M-$7.8M2023−38%2024: -$9.5M-$9.5M2024+22%2025: -$8.3M-$8.3M2025−12%
Net income6789105-$8.5M in 2025
-$15.0M-$10.0M-$5.0M0$5.0M2019: $39.6K$39.6K20192020: -$9.8M-$9.8M20202021: -$11.1M-$11.1M2021+13%2022: -$14.2M-$14.2M2022+27%2023: -$8.6M-$8.6M2023−40%2024: -$10.3M-$10.3M2024+21%2025: -$8.5M-$8.5M2025−18%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$16.5M$14.6M
Cost of goods sold$15.3M$14.4M
Gross Profit$1.3M$250.9K
Selling expenses$2.7M$2.7M
General and administrative expenses$5.7M$5.7M
Research and development expenses$1.2M$1.4M
Total Operating Expenses$9.6M$9.7M
Loss from Operations-$8.3M-$9.5M
Interest and other income$445.5K$178.8K
Interest and other expense-$315.5K-$167.6K
Amortization of debt discount-$427.0K-$615.6K
Gain (loss) on foreign currency transactions$67.9K$164.3K
Gain (loss) on disposal of property and equipment-$65.7K-$456.3K
Total Other Expense-$294.7K-$896.2K
Loss Before Income Taxes-$8.6M-$10.4M
Income tax benefit-$1.5K-$38.8K
Net Loss-$8.6M-$10.3M
Net Loss attributable to noncontrolling interest-$74.3K$0
Net Loss attributable to LiqTech International, Inc.-$8.5M-$10.3M
Loss Per Common Share Basic and Diluted (in dollars per share)-$0.89-$1.64
Weighted-Average Common Shares Outstanding Basic and Diluted (in shares)9.6M shares6.3M shares

Compare LIQTECH INTERNATIONAL INC with another company

Corporate structure

LIQTECH INTERNATIONAL INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LIQTECH INTERNATIONAL INC

  • LIQTECH INTERNATIONAL INC Carson City, Nevada, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LIQTECH INTERNATIONAL INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$21.8M5 Dec 31, 2025$19.3M5 Dec 31, 2024+13.0%
Property and equipment, net$5.8M5 Dec 31, 2025$6.6M5 Dec 31, 2024−11.7%
Finance-lease assets$2.9M5 Dec 31, 2025$2.9M5 Dec 31, 2024−1.3%
Operating-lease assets (leased space)$4.6M5 Dec 31, 2025$4.5M5 Dec 31, 2024+4.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.1M5 Dec 31, 2025$10.4M9 Dec 31, 2023−51.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$248.1K5 Dec 31, 2025$220.7K5 Dec 31, 2024+12.4%
Intangible assets, net (excluding goodwill)$36.1K5 Dec 31, 2025$39.4K5 Dec 31, 2024−8.2%
Finite-lived intangibles, gross$622.7K5 Dec 31, 2025$635.6K5 Dec 31, 2024−2.0%
Accumulated amortization$586.5K5 Dec 31, 2025$596.3K5 Dec 31, 2024−1.6%
Finite-lived intangibles, net$36.1K5 Dec 31, 2025$39.4K5 Dec 31, 2024−8.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$6.5M5 Dec 31, 2025$5.5M5 Dec 31, 2024+16.9%
Raw materials$3.3M5 Dec 31, 2025$2.7M5 Dec 31, 2024+20.0%
Work in process$2.4M5 Dec 31, 2025$2.4M5 Dec 31, 2024−1.4%
Finished goods$1.8M5 Dec 31, 2025$1.6M5 Dec 31, 2024+11.1%
Supplies$010 Dec 31, 2024$55.2K10 Dec 31, 2023−100.0%

Properties, in its own words

Our corporate headquarters are located at Industriparken 22C, 2750 Ballerup, Denmark. We lease approximately 67,000 square feet at our Ballerup location, of which approximately 10,000 square feet is used for office space and 57,000 square feet is used for production. The lease will expire on August 31, 2028. We also conduct operations at Benshøj Industrivej 24, 9500 Hobro, Denmark, where we lease approximately 45,750 square feet, of which approximately 10,750 square feet is used for office space and 35,000 square feet is used for production. The lease will expire on November 30, 2034. In addition, in 2024, we entered into a new lease agreement for additional production and office space at Benshøj Industrivej 1, 9500 Hobro, Denmark. This facility consists of approximately 18,800 square feet, including 13,500 square feet of production space and 5,300 square feet of office space. The lease will expire on April 30, 2034. In December 2024, we entered into a new lease agreement for production and office space at No 588, Hong Kong Road, Jian Gong Lake Science and Innovation Center, Building 7, Haimen Districy, Nantong City, China. The facility consists of approximately 19,200 square feet, including 13,000 square feet of production space and 600 square feet of office space. The lease will expire in September 2026.

In September 2025, we entered into a lease agreement for our service center in the U.S. at 714 Hughie Long, Cresson, Texas 76035. This facility consists of approximately 3,800 square feet of production & assembly space. The lease will expire in July 2028.

Item 2 of the 10-K filed Feb 27, 2026.4

Leadership

Who has led LIQTECH INTERNATIONAL INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Lasse Andreassen2011–2012
  2. Finn Helmer2013
  3. Mathiesen Sune2014–2022
  4. Henrik Laursen2015
  5. Alexander J. Buehler2022
  6. Fei Chen2022–now

President

  1. Donald S. Debelak2014–2015

Chief financial officer

  1. Soren Degn2011–2013
  2. Claus Toftegaard2019–2020
  3. Simon Seidelin Stadil2021–2024
  4. Phillip Massie Price2024
  5. David Kowalczyk2025–now

Chief operating officer

  1. David Kowalczyk2025–now
201520202025
Board members and other officers (19)

Former names

  • Blue Moose Media IncOct 29, 2004 to Oct 11, 20113

Timeline

  1. Oct 6, 20268-K Executive or director change40
  2. Sep 8, 20268-K Executive or director change41
  3. Jul 24, 20268-K Listing notice or transfer42
  4. Jun 9, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure43
  5. Jun 1, 20268-K Entered a material agreement; Unregistered sale of shares44
  6. May 26, 20268-K Entered a material agreement; New debt or obligation45
  7. Feb 18, 20268-K Executive or director change; Regulation FD disclosure46
  8. Jun 6, 20258-K Executive or director change; Shareholder vote47
  9. Jan 31, 20258-K Executive or director change; Regulation FD disclosure48
  10. Nov 13, 20248-K Shareholder vote49
  11. Sep 27, 20248-K Entered a material agreement; Unregistered sale of shares50
  12. Jan 12, 20248-K Executive or director change51
  13. Sep 15, 2022New chief executive Fei Chen becomes CEO14
  14. May 19, 2022New chief executive Alexander J. Buehler becomes CEO13
  15. Apr 10, 2015New chief executive Henrik Laursen becomes CEO15
  16. Aug 27, 2014New chief executive Mathiesen Sune becomes CEO16
  17. May 21, 2013New chief executive Finn Helmer becomes CEO17
  18. Aug 30, 2011New chief executive Lasse Andreassen becomes CEO18

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.15) a share, on Nov 13, 2025.52

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

173 filings to the SEC since October 2021: 8 annual reports, 15 quarterly reports, 29 major events, 59 insider forms, 28 large holders, 34 other. The latest 20:

  1. Oct 6, 20268-K EDGAR
  2. Sep 8, 20268-K EDGAR
  3. Aug 19, 20264 EDGAR
  4. Aug 14, 2026SCHEDULE 13G EDGAR
  5. Aug 13, 2026SCHEDULE 13G/A EDGAR
  6. Aug 12, 202610-Q EDGAR
  7. Jul 24, 20268-K EDGAR
  8. Jun 17, 2026SCHEDULE 13G EDGAR
  9. Jun 9, 20264 PRIMARY DOCUMENT EDGAR
  10. Jun 9, 20268-K EDGAR
  11. Jun 9, 2026SCHEDULE 13D/A EDGAR
  12. Jun 5, 2026424B4 EDGAR
  13. Jun 1, 2026EFFECT EDGAR
  14. Jun 1, 20268-K EDGAR
  15. May 28, 2026CORRESP EDGAR
  16. May 28, 2026CORRESP EDGAR
  17. May 28, 2026CORRESP EDGAR
  18. May 28, 2026CORRESP EDGAR
  19. May 28, 2026S-1/A EDGAR
  20. May 27, 2026S-1 EDGAR

The 173 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 20 buys and 5 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 5, 2026Bleichroeder LP10% ownerBuy700,000$1.00$700.0KForm 4
Jun 5, 2026Wowk RobertDirectorBuy50,000$1.00$50.0KForm 4
Dec 4, 2023Stadil Simon SeidelinChief Financial OfficerSale14,438$3.23$46.6KForm 4
Nov 30, 2023Stadil Simon SeidelinChief Financial OfficerSale562$3.40$1.9KForm 4
Nov 21, 2023Stadil Simon SeidelinChief Financial OfficerSale3,100$3.57$11.1KForm 4
Nov 15, 2023Stadil Simon SeidelinChief Financial OfficerSale4,100$3.89$15.9KForm 4
Nov 13, 2023Stadil Simon SeidelinChief Financial OfficerSale2,800$3.82$10.7KForm 4
Jun 14, 2023Chen FeiChief Executive OfficerBuy10,784$3.94$42.5KForm 4
May 26, 2023Chen FeiChief Executive OfficerBuy22,000$3.20$70.4KForm 4
May 19, 2022MEEUSEN RICHARD ADirectorBuy95,000$0.55$52.2KForm 4
May 18, 2022MEEUSEN RICHARD ADirectorBuy97,125$0.52$50.5KForm 4
May 17, 2022Boswell PeytonDirectorBuy500,000$0.50$250.0KForm 4
May 17, 2022BUEHLER ALEXANDER JDirectorBuy2,000,000$0.50$1.0MForm 4
May 17, 2022VERNON MARKDirectorBuy500,000$0.50$250.0KForm 4
May 17, 2022Stadil Simon SeidelinChief Financial OfficerBuy80,000$0.50$40.0KForm 4
May 13, 2022LYTTON LAURENCE W10% ownerBuy1,375,000$0.50$687.5KForm 4
Jan 25, 2022LYTTON LAURENCE W10% ownerBuy100$5.44$544Form 4
Jan 24, 2022LYTTON LAURENCE W10% ownerBuy16,089$5.24$84.3KForm 4
Jan 21, 2022LYTTON LAURENCE W10% ownerBuy20,000$5.40$108.0KForm 4
Jan 4, 2022LYTTON LAURENCE W10% ownerBuy10,900$5.95$64.9KForm 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Fei ChenPresident &61$405.3K$940.9K65
2024Phillip Massie PriceInterim Chief Financial Officer33$130.6K$248.8K65
2024Simon StadilChief Financial Officer$73.6K$215.0K65
2023Chief Executive Officer$397.8K$940.8K65
2023Simon StadilChief Financial Officer$294.2K$574.9K65

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 27. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Bleichroeder LP6,882,239$5.8M1.0%+3,700,000
Alyeska Investment Group, L.P.2,000,000$1.7M0.0%New
Cable Car Capital, LP1,000,000$849.0K0.0%New
Sequoia Financial Advisors, LLC500,000$424.5K0.0%New
Morgan Stanley454,303$385.7K0.0%+145,000
Corsair Capital Management, L.P.250,000$212.2K0.0%New
Warberg Asset Management LLC91,746$77.9K0.1%New
Clear Harbor Asset Management, LLC60,756$51.6K0.0%No change
HighTower Advisors, LLC60,432$51.3K0.0%No change
Hohimer Wealth Management, LLC50,000$42.5K0.0%New
Vanguard Capital Management LLC49,175$41.8K0.0%No change
Geode Capital Management, LLC41,574$35.3K0.0%−17,661
WealthTrust Axiom LLC40,389$34.3K0.0%−5,627
Mesirow Financial Investment Management, Inc.25,737$21.9K0.0%No change
Vanguard Fiduciary Trust Co21,970$18.7K0.0%No change
Mercer Global Advisors Inc /adv20,000$17.0K0.0%New
Mission Wealth Management, LP18,750$15.9K0.0%No change
XTX Topco Ltd17,377$14.8K0.0%New
Jane Street Group, LLC14,705$12.5K0.0%New
Northern Trust Corp11,428$9.7K0.0%New
BlackRock, Inc.5,480$4.7K0.0%No change
Tower Research Capital LLC (TRC)1,580$1.3K0.0%+315
Royal Bank Of Canada1,379$1.0K0.0%+1,358
Hrt Financial LP34,923$290.0%New
Virtu Financial LLC12,348$100.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How LIQTECH INTERNATIONAL INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLIQTECH INTERNATIONAL INC1
  • CIK0001307579
  • Employer ID (EIN)20-14316774
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inNevada4
  • Fiscal year endsDecember 311
  • Industry code (SIC)3590 Misc Industrial & Commercial Machinery & Equipment1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business addressIndustriparken 22C, Ballerup, G7 DK-27501
  • Phone01145 2390 45451
  • Shares outstanding32,947,841 as of Aug 12, 202612
  • Public float$9.7M as of Dec 31, 20254
  • AuditorSadler, Gibb & Associates, LLC, Draper, UT PCAOB ID 3627; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 29, 20041
  • Filings506 in all: 4 (113), 8-K (76), 10-Q (51), 3 (34), SC 13G/A (29), CORRESP (25), UPLOAD (18), 10-K (17)1
    All 50 form types

    DEF 14A (13), SC 13G (13), SC 13D (10), SC 13D/A (10), 424B5 (9), 4/A (8), EFFECT (8), 8-K/A (6), PRE 14A (4), S-1/A (4), S-3 (4), SCHEDULE 13D/A (4), 10-K/A (3), DEFA14A (3), S-1 (3), S-3/A (3), S-8 (3), SCHEDULE 13G (3), 10-12G/A (2), 10-Q/A (2), 144 (2), 424B3 (2), 424B4 (2), 8-A12B (2), REGDEX (2), SCHEDULE 13G/A (2), 10-12G (1), 25 (1), 424B8 (1), ARS (1), CERT (1), CERTNYS (1), D (1), DEF 14C (1), DEFR14A (1), DRS (1), NT 10-Q (1), POS AM (1), POS EX (1), PRE 14C (1), S-3MEF (1), SC 14F1 (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Proxy statement (DEF 14A) Apr 21, 2025
    Latest 8-K (8-K) Oct 6, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.001 par valueLIQTNasdaq

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks LIQTECH INTERNATIONAL INC names in Item 1A of its 10-K filed Feb 27, 2026: 37 risks under these headings, as written.4

  • RISKS RELATED TO OUR BUSINESS AND OPERATIONS
  • We will require substantial capital investment in the future, and our inability to raise adequate capital could affect our ability to continue as a going concern.
  • If we fail to restore financial stability through improved profitability and access to adequate liquidity, our business options and financial condition would be impacted.
  • The adverse effect to our business operations from armed conflicts (such as Ukraine/Russia and Hamas/Israel) or similar political, social, regulatory, or economic tension may challenge our operational flexibility and financial performance.
  • Global trade restrictions, tariffs, and geopolitical tensions could adversely impact our business and supply chain
  • Prolonged periods of energy market volatility and supply disruptions could negatively impact our business
  • Health crises, pandemics, and other public health emergencies could adversely affect our business, financial condition, and results of operations.
  • Historically, we have been dependent on a few major customers for a significant portion of the Company’s revenue. Our revenue could decline if we are unable to maintain or develop relationships with additional customers and our results of operations could be adversely affected if any one of these customers is unable to meet their financial obligations to us.
  • The potential interruption or failure to obtain raw materials and components at affordable prices caused by continued global and regional supply chain constraints could negatively affect our ability to supply products to our customers and negatively affect our profit and delay revenue.
  • If we are unable to manage our expected growth, our business may be materially and adversely affected.
  • Our success will depend, to a large degree, on the expertise and experience of the members of our management team, the loss of whom could have a material adverse effect on our business.
  • Adverse conditions, regulatory challenges, or lack of funding for emission control programs, may delay or negatively affect our future growth and market potential within the transportation and marine industries.
The other 26 risks
  • We face changes in governmental standards by which our products are evaluated, and if we cannot meet any such changes, some of our products could become obsolete, which could have a material adverse effect on our business.
  • Our international operations are exposed to potential adverse tax consequences.
  • Our business could face adverse impacts due to increased interest rates, tightening debt capital markets, and market volatility.
  • Foreign currency fluctuations could adversely impact financial performance.
  • Our inability to protect our intellectual property rights could negatively affect our business and results of operations.
  • Our contracts with third parties could negatively affect our intellectual property rights.
  • We could become subject to intellectual property litigation that could be costly, limit or cancel our intellectual property rights, divert time and efforts away from business operations, require us to pay damages, and/or otherwise have an adverse material impact on our business.
  • We face competition and technological advances by competitors, which could adversely affect the sales of our products.
  • Any liability for environmental harm or damages resulting from technical faults or failures of our products could be substantial and could materially adversely affect our business and results of operations.
  • We could become liable for damages resulting from our manufacturing activities, which could have a material adverse effect on our business or cause us to cease operations.
  • Our actual or perceived failure to adequately protect personal data could adversely affect our business, financial condition, and results of operations.
  • Some of our officers and directors are located outside of the United States; therefore, it may be difficult for an investor to enforce within the United States any judgments obtained against us or such officers and directors.
  • We have signed partnership, distribution, and joint venture agreements and may engage in additional collaborations, joint ventures, or strategic alliances in the future, and we may not realize the benefits of such arrangements.
  • If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results, and current and potential stockholders may lose confidence in our financial reporting.
  • We may have risks associated with security of our information technology systems.
  • RISKS RELATED TO OUR COMMON STOCK
  • Future equity financings or convertible debt issuances would dilute your ownership and could adversely affect your common stock ownership rights in comparison with those of other security holders.
  • We will not receive a significant amount, or potentially any, additional funds upon the exercise of our pre-funded warrants; however, any exercise would increase the number of shares eligible for future resale in the public market and result in substantial dilution to our stockholders.
  • Provisions in our articles of incorporation and bylaws could discourage a change in control or an acquisition of us by a third party, even if the acquisition would be favorable to you, thereby adversely affecting existing stockholders.
  • There is limited trading volume of our common stock, which could make it difficult for you to liquidate an investment in our common stock in a timely manner.
  • The market price of our common stock has been and may continue to be volatile.
  • If securities analysts do not publish research or reports about our business or if they downgrade us or our sector, the price of our common stock could decline.
  • Future sales of our common stock, or the perception that future sales may occur, may cause the market price of our common stock to decline.
  • The Company is considered a “smaller reporting company” and is exempt from certain disclosure requirements, which could make our common stock less attractive to potential investors.
  • We have no current plan to pay dividends on our common stock, and investors may lose the entire amount of their investment.
  • PUBLIC COMPANY RISK FACTORS
  • We will continue to incur significant costs from operating as a public company, and our management may be required to devote substantial time to compliance initiatives that ultimately could have a material adverse effect on our financial condition and results of operations.
  • In preparing our financial statements, we make certain assumptions, judgments and estimates that affect amounts reported in our consolidated financial statements, which, if not accurate, may significantly impact our financial results.

Legal proceedings

From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. Please reference Note 8 - Agreements, Commitments and Contingencies for details on such litigation.

The opening of Item 3, Legal Proceedings.4

Sources

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  31. 31
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  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65