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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM&nbsp;8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of
the<BR>
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):&nbsp;
<B>February 29, 2012 (February 29, 2012)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>LiqTech International, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center; font-size: 10pt">Nevada</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center; font-size: 10pt">000-53769</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center; font-size: 10pt">20-1431677</TD></TR>
<TR STYLE="font-size: 10pt">
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt">(State or other jurisdiction<BR> of incorporation)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; font-size: 10pt">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 49%; vertical-align: top; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Industriparken
    22C, 2750 Ballerup, Denmark</FONT></TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: black"><B>+4544986000<BR>
</B></FONT>(Registrant&rsquo;s telephone number, including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form&nbsp;8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;
Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;
Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT>&nbsp;&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item&nbsp;8.01 &#9;Other Events. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On February 29, 2012, LiqTech International,
Inc. (&ldquo;we&rdquo;, &ldquo;us&rdquo; or &ldquo;our&rdquo;) entered into a non-binding letter of intent with Pirelli &amp; C.
Eco Technology S.p.A. (&ldquo;Pirelli&rdquo;) to acquire all of the outstanding equity interests in S.C. Pirelli &amp; C. Eco Technology
RO SRL (&ldquo;S.C. Pirelli&rdquo;), Pirelli&rsquo;s Romanian subsidiary, which, among other assets, has a manufacturing facility
in Bumbesti, Romania. The fixed assets of S.C. Pirelli that are used for its diesel particulate filter business, including the
buildings at the Romanian manufacturing facility, are anticipated to have a net book value of Romanian Leu (RON) 66,978,129 (equivalent
to approximately Euro 15.6 million or $21 million) at December 31, 2011 as determined in accordance with International Financial
Reporting Standards (IFRS). The land on which the manufacturing facility is located is under a long-term lease, and S.C. Pirelli
will have the right to recover the investment made with respect to the buildings at the manufacturing site (net of accumulated
depreciation over a period of 30 years). The letter of intent contemplates that we will pay $15 million in cash to Pirelli as consideration
for such purchase. At the time of the purchase, it is contemplated that the subsidiary will have no debt or other liabilities and
that Pirelli will indemnify us against any such pre-closing debt and liabilities to the extent not reflected on the closing balance
sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The letter of intent also contemplates that
Pirelli will invest $19 million in shares of our common stock at a per share price equal to the lower of $3.90 and the weighted
average price of a share of our common stock for the 10 business days preceding the closing date of the transactions contemplated
by the letter of intent. Pirelli will also receive one share of voting preferred stock, which will permit Pirelli to appoint one
member of our board of directors. This share of preferred stock will automatically convert into one share of our common stock upon
Pirelli ceasing to own in the aggregate 50% of the shares (as adjusted for stock splits and stock dividends) of our common stock
acquired in connection with these transactions. If the maximum number of shares offered in our currently contemplated public offering
are sold, and assuming that the shares will be issued to Pirelli at a per share price of $3.90, Pirelli will beneficially own approximately
14.0% of our outstanding shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">It is contemplated that Pirelli and we will
enter into an agreement for the supply of diesel particulate filters to Pirelli and for the assembly of retrofit systems for Pirelli.
It is also contemplated that Pirelli will guarantee to cover up to RON 6.6 million of fixed costs and Euro 560,000 of salary in
2012 and RON 6.15 million of fixed costs and Euro 660,000 of salary in 2013 if the EBITDA of S.C. Pirelli is negative for such
years. Furthermore, it is contemplated that Pirelli will support our research and development and worldwide sales efforts for filters
and membranes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In connection with such transactions, it is
contemplated that Pirelli and Aldo Petersen will enter into a shareholder agreement pursuant to which each party will have rights
of first refusal and tag along rights on sales of our common stock by the other party. All shares acquired by Pirelli in connection
with the transactions contemplated by the letter of intent will be subject to a lock-up provision for one year from the closing
date of such transactions. Mr. Petersen is also contemplated to enter into a lock-up agreement restricting his ability to transfer
the shares beneficially owned by him for one year from the closing date of the transactions contemplated by the letter of intent.
It is contemplated that Pirelli will be granted registration rights in respect of the shares of our common stock that it acquires
pursuant to the above transactions upon the expiration of the lock-up period. Pirelli is also contemplated to receive certain
veto rights in respect of strategic decisions relating to S.C. Pirelli.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The transactions contemplated by the letter
of intent are subject to the execution of definitive agreements mutually agreeable to both parties and there is no assurance that
such agreements will be executed or that the contemplated transactions will occur as described above or at all.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; font-weight: bold"><FONT STYLE="font-size: 10pt">LIQTECH INTERNATIONAL, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: February 29, 2012</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid"><FONT STYLE="font-size: 10pt">/s/</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid"><FONT STYLE="font-size: 10pt">Soren Degn</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Soren Degn</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-style: italic"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-style: italic"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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{"company-data": {"conformed-name": "LIQTECH INTERNATIONAL INC", "cik": "0001307579", "assigned-sic": "3590", "irs-number": "201431677", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-53769", "film-number": "12651155"}, "business-address": {"street1": "INDUSTRIPARKEN 22C", "city": "BALLERUP", "state": "G7", "zip": "DK-2750", "phone": "01145 2390 4545"}, "mail-address": {"street1": "INDUSTRIPARKEN 22C", "city": "BALLERUP", "state": "G7", "zip": "DK-2750"}, "former-company": {"former-conformed-name": "Blue Moose Media Inc", "date-changed": "20041101"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 29, 2012 (February 29, 2012)
LiqTech International, Inc.
(Exact name of registrant as specified in charter)
Nevada
000-53769
20-1431677
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
Industriparken
    22C, 2750 Ballerup, Denmark
(Address of principal executive offices)
(Zip Code)
+4544986000
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
Item 8.01 	Other Events.
On February 29, 2012, LiqTech International,
Inc. ("we", "us" or "our") entered into a non-binding letter of intent with Pirelli & C.
Eco Technology S.p.A. ("Pirelli") to acquire all of the outstanding equity interests in S.C. Pirelli & C. Eco Technology
RO SRL ("S.C. Pirelli"), Pirelli's Romanian subsidiary, which, among other assets, has a manufacturing facility
in Bumbesti, Romania. The fixed assets of S.C. Pirelli that are used for its diesel particulate filter business, including the
buildings at the Romanian manufacturing facility, are anticipated to have a net book value of Romanian Leu (RON) 66,978,129 (equivalent
to approximately Euro 15.6 million or $21 million) at December 31, 2011 as determined in accordance with International Financial
Reporting Standards (IFRS). The land on which the manufacturing facility is located is under a long-term lease, and S.C. Pirelli
will have the right to recover the investment made with respect to the buildings at the manufacturing site (net of accumulated
depreciation over a period of 30 years). The letter of intent contemplates that we will pay $15 million in cash to Pirelli as consideration
for such purchase. At the time of the purchase, it is contemplated that the subsidiary will have no debt or other liabilities and
that Pirelli will indemnify us against any such pre-closing debt and liabilities to the extent not reflected on the closing balance
sheet.
The letter of intent also contemplates that
Pirelli will invest $19 million in shares of our common stock at a per share price equal to the lower of $3.90 and the weighted
average price of a share of our common stock for the 10 business days preceding the closing date of the transactions contemplated
by the letter of intent. Pirelli will also receive one share of voting preferred stock, which will permit Pirelli to appoint one
member of our board of directors. This share of preferred stock will automatically convert into one share of our common stock upon
Pirelli ceasing to own in the aggregate 50% of the shares (as adjusted for stock splits and stock dividends) of our common stock
acquired in connection with these transactions. If the maximum number of shares offered in our currently contemplated public offering
are sold, and assuming that the shares will be issued to Pirelli at a per share price of $3.90, Pirelli will beneficially own approximately
14.0% of our outstanding shares of common stock.
It is contemplated that Pirelli and we will
enter into an agreement for the supply of diesel particulate filters to Pirelli and for the assembly of retrofit systems for Pirelli.
It is also contemplated that Pirelli will guarantee to cover up to RON 6.6 million of fixed costs and Euro 560,000 of salary in
2012 and RON 6.15 million of fixed costs and Euro 660,000 of salary in 2013 if the EBITDA of S.C. Pirelli is negative for such
years. Furthermore, it is contemplated that Pirelli will support our research and development and worldwide sales efforts for filters
and membranes.
In connection with such transactions, it is
contemplated that Pirelli and Aldo Petersen will enter into a shareholder agreement pursuant to which each party will have rights
of first refusal and tag along rights on sales of our common stock by the other party. All shares acquired by Pirelli in connection
with the transactions contemplated by the letter of intent will be subject to a lock-up provision for one year from the closing
date of such transactions. Mr. Petersen is also contemplated to enter into a lock-up agreement restricting his ability to transfer
the shares beneficially owned by him for one year from the closing date of the transactions contemplated by the letter of intent.
It is contemplated that Pirelli will be granted registration rights in respect of the shares of our common stock that it acquires
pursuant to the above transactions upon the expiration of the lock-up period. Pirelli is also contemplated to receive certain
veto rights in respect of strategic decisions relating to S.C. Pirelli.
The transactions contemplated by the letter
of intent are subject to the execution of definitive agreements mutually agreeable to both parties and there is no assurance that
such agreements will be executed or that the contemplated transactions will occur as described above or at all.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LIQTECH INTERNATIONAL, INC.
Date: February 29, 2012
/s/
Soren Degn
Soren Degn
Chief Financial Officer