X0306 4 2019-11-14 1 0001307579 LIQTECH INTERNATIONAL INC LIQT 0001535264 AWM Investment Company, Inc. 527 MADISON AVENUE SUITE 2600 NEW YORK NY 10022 0 0 1 0 Common Stock 2019-11-14 4 S 0 80000 4.9292 D 2093290 I By Limited Partnerships Common Stock 2019-11-14 4 S 0 50000 5.1427 D 2043290 I By Limited Partnerships This is a weighted average price. AWM Investment Company, Inc., a Delaware corporation (AWM), is the investment adviser to Special Situations Fund III QP, L.P. (SSFQP), Special Situations Cayman Fund, L.P. (CAY), Special Situations Technology Fund, L.P. (TECH) and Special Situations Technology Fund II, L.P. (TECH II and together with SSFQP, CAY and TECH, the Funds). As the investment adviser to the Funds, AWM holds sole voting and investment power over 654,846 shares of Common Stock of the Issuer (the Shares) held by SSFQP, 219,896 Shares held by CAY, 171,998 Shares held by TECH and 996,550 Shares held by TECH II. Austin W. Marxe (Marxe), David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are the controlling principals of AWM. The reporting person disclaims beneficial ownership of the Shares, except to the extent of its pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Adam Stettner 2019-11-15