According to the Aquamira site, the liquid is registered with the EPA, and the liquid info page claims it's good for hiking/camping/etc.

http://www.aquamira.com/products/aquamira-water-treatment-drops/

Quote:
Aquamira Liquid is not intended for our needs as backpackers. The only liquid solution I know of that is a purifier is what is made by the MSR Miox.

All one has to do is look at the Aquamira site to see the difference: �When used as directed, Aquamira Water Purifier Tablets meet the EPA guidelines for Microbiological Water Purifiers making it the safest solution on the market.� But for the liquid, Aquamira makes the following claim, �Aquamira Water Treatment treats drinking water using chlorine dioxide to kill bacteria, control the build up of slime and improve the taste of stored water.� It is only designed to ensure that already potable water remains such. That is not what backpackers are trying to accomplish.
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What is clear is that the drops have not been registered with the EPA (unlike the tablets) and, as such, their efficacy for killing the nasties to EPA requirements is unproven.
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I think that anyone that recommends AquaMira liquid without noting its limitations is doing a disservice to our fellow backpackers. YMMV