Note 6 - Lines of Credit

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE

6

- LINES OF CREDIT

In connection with certain orders, we provide the customer a working guarantee or a prepayment guarantee or security bond. For that purpose, we have a guarantee credit line

DKK10,000,000

(approximately

$1,500,000

). The credit line is secured by a cash deposit of

$2,700,000.

Further we have a guarantee for a specific project delivered in

2016

of DKK

94,620

(approximately

$14,186

at

December 31, 2019)

with a bank, subject to certain base limitations. This line of credit is guaranteed by Vækstfonden (the Danish state's investments fund) and is secured by certain assets of LiqTech Systems such as receivables, inventory and equipment.