Liqtech skulle efter sigende have et fantastisk produkt.
Det ser ud som om kunderne ikke deler den opfattelse, og sender både omsætning og salg ned markant. Hvis det fortsætter sådan her løber selskabet tør for pengene inden for 3 kvartaler. Det er for lille en runway, så man må tro at selskabet arbejder på en Emission.
Finn Helmer kommer med en udtalelse som virkeligt er spunnet. Han sammenligner selskabet med Giga. Hvordan lige den sammenligning skal forståes ud over at "det gik dårligt før det gik rigtigt godt" - ved jeg ikke.
Aktien understreger sin illikviditet og begrænsede ejerkreds ved at .... gå op i 3,11.
BALLERUP, Denmark, Aug. 14, 2013 /PRNewswire/ -- LiqTech International, Inc. (LIQT) a clean technology company that manufactures and markets highly specialized filtration technologies, announced today its financial and operational results for second quarter 2013.
Financial highlights for the three months ended June 30, 2013
Net sales for the three month period ended June 30, 2013 were $2,805,921 compared to $3,953,335 for the same period in 2012, representing a decrease of $1,147,414 or 29.0%.
Diesel Particulate Filter ("DPF filter") sales decreased $979,422 or 38.9%, liquid filter sales decreased $348,773 or 25.2% and Kiln furniture sales increased $180,781 or 367.1% compared to the same period in 2012.
Gross profit for the three month period ended June 30, 2013 was $292,521 compared to $416,167 for the same period in 2012 representing a decrease of $123,646 or 29.7%.
The net loss attributable to LiqTech for the three month period ended June 30, 2013 was $1,308,102 compared to net loss of $552,509 for the same period in 2012, representing an increase of $755,593.
Included in the net loss for the three month period ended June 30, 2013 is non-cash compensation of $743,519, depreciation and amortization of $374,560, and other non-cash charges of $55,795, or total non-cash charges of $1,173,874.
Financial highlights for the six months ended June 30, 2013
Net sales for the six month period ended June 30, 2013 were $6,205,069 compared to $10,295,056 for the same period in 2012, representing a decrease of $4,089,987, or 39.7%.
DPF filter sales decreased $4,384,683 or 55.8%, liquid filter sales decreased $47,748 or 2.1% and Kiln furniture sales increased $342,444 or 226.1% compared to the same period in 2012.
Gross profit for the six month period ended June 30, 2013 was $854,544 compared to $2,505,851 for the same period in 2012 representing a decrease of $1,651,307 or 65.9%.
The net loss attributable to LiqTech for the six month period ended June 30, 2013 was $1,977,913 compared to net loss of $229,907 for the same period in 2012, representing an increase of $1,748,006.
Cash on hand for the six month period ended June 30, 2013 was $2,066,280 compared to $3,873,338 for the year ended December 31, 2012, representing a decrease of $1,807,058.
Working capital for the six month period ended June 30, 2013 was $6,626,966 compared to $8,069,595 for the year ended December 31, 2012, a decrease of $1,442,629.
Included in the net loss is non-cash compensation of $774,888, depreciation and amortization of $776,401, or other non-cash charges of $83,720, or total non-cash charges of $1,635,009.
Management Commentary
Mr. Finn Helmer, CEO, stated, "While we are disappointed in the current quarter's membrane sales, membranes interest is still growing and there are major requests regarding projects coming from all market segments - from produced water in the oil industry, desalinization systems for drinking water and for wastewater treatment. In the second quarter, we achieved incoming orders for liquid membranes at a rate that was three times higher than the same quarter last year. Further, our year-to-date order intake for the period ended June 30, 2013 was the same as for the whole year of 2012. This increasing liquid filter order rate resulted in a liquid filter backlog of approximately $3.1 million as of June 30, 2013, or approximately $1 million more than the reported liquid filter revenue for the six-month period ended June, 30, 2013.
"This market development scenario is similar to what occurred in my previous company, GIGA, where the company depended on several major projects that took a long time to materialize. However, one example where the acceptance cycle of a new technology is somewhat faster than the norm can be seen in our recent introduction of flatsheet membranes into the market. Flatsheet membranes are being used as a pre-filter for reverse osmosis filters generating drinking water from saltwater. The introduction to the marketplace of the LiqTech flatsheet membrane has been very well received and we have already quoted more than 10 major projects, which would translate into significant amount of revenue. Applications are mainly in drinking water but also for industrial waste water and process water. Over the next six months we expect that a number of these will develop into significant sales.
"The slowdown of the DPF filter business continued to decline in the second quarter compared to the first quarter and the same quarter a year earlier but we are seeing evidence that the second half of 2013 should be more positive. Kiln furniture results were very strong and our foothold in the market is increasing. We are putting additional resources in this market area and expect to show growing profits from the investment made over the past few years.
"During the last quarter LiqTech has entered a new Nanotechnology market, and we have developed the first samples of a 10 nanometer membrane together with a 4 nanometer membrane. The prototypes are part of a development project made in cooperation with several universities. We expect that the new membranes will open new markets for LiqTech when the products are ready for production over the next year.
"Generally speaking, market interest is growing in all membrane areas and we are currently seeing smaller orders from the major customers as they assess the benefits of our disruptive membrane technology in their processes. During my first four months at LiqTech, I have reviewed the technology, the customer base and the production capacity and based on what I have seen, I am confident that LiqTech has a bright future, even though current results are disappointing."
Det ser ud som om kunderne ikke deler den opfattelse, og sender både omsætning og salg ned markant. Hvis det fortsætter sådan her løber selskabet tør for pengene inden for 3 kvartaler. Det er for lille en runway, så man må tro at selskabet arbejder på en Emission.
Finn Helmer kommer med en udtalelse som virkeligt er spunnet. Han sammenligner selskabet med Giga. Hvordan lige den sammenligning skal forståes ud over at "det gik dårligt før det gik rigtigt godt" - ved jeg ikke.
Aktien understreger sin illikviditet og begrænsede ejerkreds ved at .... gå op i 3,11.
BALLERUP, Denmark, Aug. 14, 2013 /PRNewswire/ -- LiqTech International, Inc. (LIQT) a clean technology company that manufactures and markets highly specialized filtration technologies, announced today its financial and operational results for second quarter 2013.
Financial highlights for the three months ended June 30, 2013
Net sales for the three month period ended June 30, 2013 were $2,805,921 compared to $3,953,335 for the same period in 2012, representing a decrease of $1,147,414 or 29.0%.
Diesel Particulate Filter ("DPF filter") sales decreased $979,422 or 38.9%, liquid filter sales decreased $348,773 or 25.2% and Kiln furniture sales increased $180,781 or 367.1% compared to the same period in 2012.
Gross profit for the three month period ended June 30, 2013 was $292,521 compared to $416,167 for the same period in 2012 representing a decrease of $123,646 or 29.7%.
The net loss attributable to LiqTech for the three month period ended June 30, 2013 was $1,308,102 compared to net loss of $552,509 for the same period in 2012, representing an increase of $755,593.
Included in the net loss for the three month period ended June 30, 2013 is non-cash compensation of $743,519, depreciation and amortization of $374,560, and other non-cash charges of $55,795, or total non-cash charges of $1,173,874.
Financial highlights for the six months ended June 30, 2013
Net sales for the six month period ended June 30, 2013 were $6,205,069 compared to $10,295,056 for the same period in 2012, representing a decrease of $4,089,987, or 39.7%.
DPF filter sales decreased $4,384,683 or 55.8%, liquid filter sales decreased $47,748 or 2.1% and Kiln furniture sales increased $342,444 or 226.1% compared to the same period in 2012.
Gross profit for the six month period ended June 30, 2013 was $854,544 compared to $2,505,851 for the same period in 2012 representing a decrease of $1,651,307 or 65.9%.
The net loss attributable to LiqTech for the six month period ended June 30, 2013 was $1,977,913 compared to net loss of $229,907 for the same period in 2012, representing an increase of $1,748,006.
Cash on hand for the six month period ended June 30, 2013 was $2,066,280 compared to $3,873,338 for the year ended December 31, 2012, representing a decrease of $1,807,058.
Working capital for the six month period ended June 30, 2013 was $6,626,966 compared to $8,069,595 for the year ended December 31, 2012, a decrease of $1,442,629.
Included in the net loss is non-cash compensation of $774,888, depreciation and amortization of $776,401, or other non-cash charges of $83,720, or total non-cash charges of $1,635,009.
Management Commentary
Mr. Finn Helmer, CEO, stated, "While we are disappointed in the current quarter's membrane sales, membranes interest is still growing and there are major requests regarding projects coming from all market segments - from produced water in the oil industry, desalinization systems for drinking water and for wastewater treatment. In the second quarter, we achieved incoming orders for liquid membranes at a rate that was three times higher than the same quarter last year. Further, our year-to-date order intake for the period ended June 30, 2013 was the same as for the whole year of 2012. This increasing liquid filter order rate resulted in a liquid filter backlog of approximately $3.1 million as of June 30, 2013, or approximately $1 million more than the reported liquid filter revenue for the six-month period ended June, 30, 2013.
"This market development scenario is similar to what occurred in my previous company, GIGA, where the company depended on several major projects that took a long time to materialize. However, one example where the acceptance cycle of a new technology is somewhat faster than the norm can be seen in our recent introduction of flatsheet membranes into the market. Flatsheet membranes are being used as a pre-filter for reverse osmosis filters generating drinking water from saltwater. The introduction to the marketplace of the LiqTech flatsheet membrane has been very well received and we have already quoted more than 10 major projects, which would translate into significant amount of revenue. Applications are mainly in drinking water but also for industrial waste water and process water. Over the next six months we expect that a number of these will develop into significant sales.
"The slowdown of the DPF filter business continued to decline in the second quarter compared to the first quarter and the same quarter a year earlier but we are seeing evidence that the second half of 2013 should be more positive. Kiln furniture results were very strong and our foothold in the market is increasing. We are putting additional resources in this market area and expect to show growing profits from the investment made over the past few years.
"During the last quarter LiqTech has entered a new Nanotechnology market, and we have developed the first samples of a 10 nanometer membrane together with a 4 nanometer membrane. The prototypes are part of a development project made in cooperation with several universities. We expect that the new membranes will open new markets for LiqTech when the products are ready for production over the next year.
"Generally speaking, market interest is growing in all membrane areas and we are currently seeing smaller orders from the major customers as they assess the benefits of our disruptive membrane technology in their processes. During my first four months at LiqTech, I have reviewed the technology, the customer base and the production capacity and based on what I have seen, I am confident that LiqTech has a bright future, even though current results are disappointing."
