Sec Form 4 Filing - ANDREASSEN LASSE @ LIQTECH INTERNATIONAL INC - 2011-08-24

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ANDREASSEN LASSE 2. Issuer Name and Ticker or Trading Symbol LIQTECH INTERNATIONAL INC [ LIQT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) INDUSTRIPARKEN 22 3. Date of Earliest Transaction (MM/DD/YY) 08/24/2011 (Street) BALLERUP, G72750 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 10/07/2013 M 25,000 A $ 1.5 2,741,888 I ( 1 ) See footnote ( 1 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock options $ 1.5 08/24/2011 A 60,000 ( 2 ) 02/28/2015 Common stock 60,000 $ 1.5 60,000 D Stock options $ 3 08/24/2011 A 180,000 ( 3 ) 02/28/2015 Common Stock 180,000 $ 3 240,000 D Stock options $ 3.28 03/23/2012 A 97,332 ( 4 ) 02/22/2015 Common stock 97,332 $ 3.28 337,332 D Stock options $ 1.5 10/07/2013 D 25,000 ( 2 ) 02/28/2015 Common Stock 25,000 $ 1.5 312,332 D Stock option $ 2.7 10/07/2013 A 25,000 10/07/2013 02/28/2015 Common stock 25,000 $ 2.7 337,332 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ANDREASSEN LASSE INDUSTRIPARKEN 22 BALLERUP, G72750 X Signatures /s/ Lasse Andreassen 10/10/2013 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Shares of common stock are owned by El Salto ApS, a Danish entity. The voting and disposition of the shares owned by El Salto is controlled by Mr. Andreassen. Also include direct ownership of the vested portion of 337,332 stock options, of which 25,000 stock options have an exercise price of $2.70 and are fully vested, 35,000 stock options have an exercise price of $1.50 per share and are fully vested, 180,000 stock options have an exercise price of $3.00 and are fully vested and 97,332 stock options have an exercise price of $3.28 and vest in three equal annual installments on March 23, 2012, March 23, 2013 and March 23, 2014. ( 2 )The 60,000 stock options had an exercise price of $1.50 and vested (and were also exercisable) in three equal annual installments on August 24, 2011, September 1, 2012 and September 1, 2013. ( 3 )The 180,000 stock options have an exercise price of $3.00 and vested (and were also exercisable) in three equal annual installments on August 24, 2011, September 1, 2012 and September 1, 2013. ( 4 )The 97,332 stock options have an exercise price of $3.28 and vest (and are also exercisable) in three equal installments on March 23, 2012, March 23, 2013 and March 23, 2014.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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