<SEC-DOCUMENT>0000829323-14-000052.txt : 20141030
<SEC-HEADER>0000829323-14-000052.hdr.sgml : 20141030
<ACCEPTANCE-DATETIME>20141030163105
ACCESSION NUMBER:		0000829323-14-000052
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141030
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141030
DATE AS OF CHANGE:		20141030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Inuvo, Inc.
		CENTRAL INDEX KEY:			0000829323
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				870450450
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32442
		FILM NUMBER:		141183597

	BUSINESS ADDRESS:	
		STREET 1:		1111 MAIN ST STE 201
		CITY:			CONWAY
		STATE:			AR
		ZIP:			72032
		BUSINESS PHONE:		501-205-8508

	MAIL ADDRESS:	
		STREET 1:		1111 MAIN ST STE 201
		CITY:			CONWAY
		STATE:			AR
		ZIP:			72032

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INUVO, INC.
		DATE OF NAME CHANGE:	20090810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KOWABUNGA! INC.
		DATE OF NAME CHANGE:	20081106

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	THINK PARTNERSHIP INC
		DATE OF NAME CHANGE:	20060315
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-kxq32014xscripts1.htm
<DESCRIPTION>8-K
<TEXT>
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<a name="s8E91EFA8EC5AC70288CF620CA673C198"></a><div></div><br><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Washington, DC 20549</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CURRENT REPORT</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date of Report (Date of earliest event reported)&#160;&#160;&#160;&#160;&#160;October 30, 2014</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:14pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td width="100%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">INUVO, INC.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Exact name of registrant as specified in its charter)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td width="40%"></td><td width="28%"></td><td width="32%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Nevada</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">001-32442</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">87-0450450</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(State or other jurisdiction of incorporation)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Commission File Number)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(IRS Employer Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="66%"></td><td width="34%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1111 Main St., Suite 201, Conway AR</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">72032</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Address of principal executive offices)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Zip Code)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="66%"></td><td width="34%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Registrant's telephone number, including area code</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">855-440-8484</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td width="100%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Former name or former address, if changed since last report)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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):</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="7%"></td><td width="93%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">&#168;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="7%"></td><td width="93%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="7%"></td><td width="93%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="7%"></td><td width="93%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><br><div></div><hr style="page-break-after:always"><a name="s8E91EFA8EC5AC70288CF620CA673C198"></a><div></div><br><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 2.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;RESULTS OF OPERATIONS AND FINANCIAL CONDITION.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 30, 2014, Inuvo, Inc. held a management conference call to discuss these results and the outlook of the Company. A copy of the script of the Company&#8217;s management for the conference call is being furnished herewith as Exhibit 99.1.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The information in this Current Report on Form8-K under this caption and accompanying exhibits are being furnished under Item 2.02 and shall not be deemed to be &#8220;filed&#8221; for the purposes of Section18 of the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 (the &#8220;Securities Act&#8221;) or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company made reference to non-GAAP financial information in the conference call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the press release announcing Q3 2014 financial results.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">ITEM 7.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;REGULATION FD DISCLOSURE.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 30, 2014, the Company held a management conference call to discuss the Company's financial results for Q3 2014, the outlook of the Company and certain other matters.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A copy of the script for the conference call is attached as Exhibit 99.1 and is incorporated by reference into this Current Report on Form8-K.</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The information in this Current Report on Form 8-K and accompanying exhibit is being furnished and shall not be deemed to be &#8220;filed&#8221; for the purposes of Section18 of the Exchange Act, or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="7%"></td><td width="93%"></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:1px;padding-right:1px;"><div style="padding-bottom:1px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 9.01</font></div></td><td 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style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" 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style="font-family:inherit;font-size:8pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:8pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><br><div></div><hr style="page-break-after:always"><a name="s8E91EFA8EC5AC70288CF620CA673C198"></a><div></div><br><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td width="100%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURES</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:53px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td width="48%"></td><td width="4%"></td><td width="24%"></td><td width="24%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">INUVO, INC.</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date:&#160;&#160;October 30, 2014</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ John B. Pisaris</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; John B. Pisaris, General Counsel</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXHIBIT INDEX</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td width="3%"></td><td width="5%"></td><td width="3%"></td><td width="89%"></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:1px;padding-right:1px;"><div style="padding-bottom:1px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#0000ff;">99.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:1px;padding-right:1px;"><div style="padding-bottom:1px;text-align:left;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Conference Call Script.</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div></div>	</body>
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<a name="s3E89539B5A0AD85DE3BF61FDFC7FC094"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Inuvo, Inc.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Third Quarter 2014 Conference Call</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">October 30, 2014</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#160;</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Richard Howe Comments: </font><font style="font-family:Arial;font-size:12pt;">Thank you Alan, and thanks everyone for joining us today. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We delivered another strong quarterly result. Revenue was $13 million, up 19% sequentially from $10.9 million in Q2 and Net Income in the quarter was $403 thousand dollars or 2 cents a share. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">While revenue on a yearly basis in the quarter was down, this is the result of our previously discussed strategy to transition from a low margin, non-strategic business into a higher margin and scalable content-based business. I will provide additional insight on how that transition has performed in a few minutes.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Revenue for the first 9 months of 2014 was $34.1 million and Net Income was $1.5 million, which is already 3 times the Net Income delivered in all of 2013. On a cumulative basis, we&#8217;ve now been GAAP Net Income positive over the last 8 - quarter period and we expect this trend to continue throughout the remainder of the year. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We are very pleased with the yearly top line performance, having gone from $10.1 million in Q1 to $10.9 million in Q2 and now $13 million in Q3. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">As we have discussed on prior calls, we had a number of strategic objectives in 2014 that included transitioning away from our Appbar product, expanding into mobile, growing our Owned and Operated Network and improving our balance sheet. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">So far, we have exceeded our expectations for each of these objectives and I&#8217;d like to explain in more detail why we think so. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">As you will recall, AppBar had delivered revenue of $23.5 million and $10.5 million in 2012 and 2013 respectively. It delivered $350 thousand dollars in this recent third quarter.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">But much more importantly, revenue from the websites and apps business within the Owned and Operated Segment has gone from $8.5 million in 2013 when it was launched, to $14 million in only the first 3 quarters in 2014. This part of the business entered the year on a $2.5 million quarterly run rate and has already more than doubled, delivering $5.6 million in Q3. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Mobile revenue, which was 15% coming into the year, increased to 49% of total revenue for the business in Q3.  It&#8217;s really been a combination of changes, first implemented at the end of 2013 that yielded this result, including the design of our own sites to support mobile web, working with partners who themselves focus on mobile and designing marketing programs specifically targeted at mobile audiences.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">And lastly, as a result of our continued solid financial performance, we were able to successfully refinance what has been a declining debt balance in this past quarter. Total debt was $4.5 million at the end of Q3, down from $6.1 million in December of 2013. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Along with lower interest rates, this new agreement currently provides access to about $2 million more in capital than is currently being utilized.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">I&#8217;d like to comment briefly now on each of the segments, starting with the Partner Segment, which grew 27% sequentially in Q3, delivering $7.1 million in Revenue. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We had a strong quarter in the Partner business, really on the back of two decisions we made in the second half of 2013. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The first of these decisions was to focus on quality over quantity as it relates to the service we deliver to our principal Ad suppliers. Since quality is a measure that improves over time, the decision to focus here meant we would likely sacrifice some top-line in this business for some period of time as quality increased. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Currently, quality has never been better and as we had believed, as quality improved so did the amount of revenue generated for each transaction delivered to our Ad suppliers. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The second decision we made was to focus on developing proprietary ad-delivery technology, which we have referred to in the past as smart ad-units. Our goal here was to put ourselves in a position where we could distribute this technology out to our partners as a way to help them make more money and as a means to fuel our future growth objectives in this segment.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We rolled out a number of these new ad-units in the quarter in addition to some significant modifications to the reporting dashboard our publisher partners use to gauge and manage the effectiveness of these ad-units. We believe the market size for these ad-units is substantial and we have seen very promising early performance statistics from implementations already in production. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">One of the key strategic synergies between our content business, the O/O Network and our Partner business is the ability to test the effectiveness of these ad-units on our own properties and apps prior to commercialization for partners. This strategy has allowed us to optimize performance of the ad-units, fix any in-market bugs that might exist and establish a quantifiable value proposition based on real implementations that can then be used to attract new partners. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">This most recent ad-unit was launched in Q3 with 5 beta partners who went live on September 30 and while performance varies by publisher, the initial feedback is encouraging, both from the beta partners themselves and from the demand we see in the marketplace for the product as reflected in our sales pipeline. In all cases, lead quality has so far been exceptional. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">I would now like to turn to the Owned and Operated Segment of the business, which grew 10% sequentially in Q3, delivering $5.9 million in revenue. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Given the rapid growth of the websites and apps, which have risen from near zero dollars in early 2013 to $5.6 million in Q3 2014, we wanted to focus in the 2</font><font style="font-family:Arial;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">nd</sup></font><font style="font-family:Arial;font-size:12pt;">&#32;half of this year on improving the various technologies that support the business, like reporting and analytics while also improving the more manual operations associated with the business model. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We are aggressively adding new content to the sites, implementing improved insights into marketing ROI and automating the actual processes associated with the publication of our content. Collectively, these enhancements have the additional benefit of allowing for marketing program expansion and optimization.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Additionally, we have continued to increase the level of social engagement associated with our sites in an effort to enhance content monetization. We&#8217;ve launched programs that leverage instagram, pinterest, facebook, twitter and others. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We now have over 47,000 likes on Facebook which by the way, is an excellent way to keep up with the content our team is publishing.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The technology that supports this business was built by and for Inuvo. It was designed specifically to allow us to scale the creation and deployment of our content. Our goal for this platform was to get to the point where our team could create, edit and market new content within hours. Technically and operationally, we are close to making this vision a reality. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Now while technology can help us distribute our content, there really is no substitute for great content other than great writing, and we&#8217;ve made significant strides here. We now have a freelance staff of 12 writers at Inuvo, the majority of which have been sourced directly from the 3 local colleges that are within proximity of our headquarters in Conway. The combination of our technical enhancements paired with an abundance of writing talent sourced from these local universities has enabled us to publish 4 times as many articles in Q3 as we did in Q1.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">In Q2, we reported that we had also redesigned the underlying technology and templates that supports our sites, principally to enable increased social and mobile engagement and to improve overall site load speeds and performance.  As of today, all but one of these sites is completely converted to the new design template and early indications are positive as it relates to monetization, page views, load times and consumer engagement. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Article sharing among users for example, a measure of engagement, improved 300% over the second quarter and content load times, particularly important for mobile, was up 20%. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We have also continued to develop and deploy mobile applications, taking our total number of apps from 7 to 12 in the quarter.  We </font><font style="font-family:Arial;font-size:12pt;">expect</font><font style="font-family:Arial;font-size:12pt;">&#32;to release yet another app in Q4, a recipe and shopping application, which will compliment our existing apps in categories like news, video, health, travel, photo editing and others. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">With that, I&#8217;d like to now turn the call over the Wally for a more detailed accounting of our third quarter results, Wally?</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Wally Ruiz Comments:  </font><font style="font-family:Arial;font-size:12pt;">Thank you Rich and good afternoon everyone. &#160;</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;background-color:#ffffff;">As Rich mentioned, we had another strong quarter financially and you should expect to have access to our 10-Q for the Quarter ending September 30</font><font style="font-family:Arial;font-size:12pt;background-color:#ffffff;"><sup style="vertical-align:top;line-height:120%;background-color:#ffffff; font-size:8pt">th</sup></font><font style="font-family:Arial;font-size:12pt;background-color:#ffffff;">&#32;later this afternoon.</font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Inuvo reported revenue of $13 million in the&#160;third quarter of 2014 compared to $10.1 million in the first quarter of this year and $14.5 million in the third quarter of last year; $7.1 million came from the Partner Network and $5.9 million from the Owned and Operated Network. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The Partner Network delivers advertisements to our partner&#8217;s websites and applications. The $7.1 million reported by the Partner Network in the third quarter of this year was 34% lower than the same quarter last year and 27% higher than the second quarter of this year. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The revenue decrease in the current quarter compared to the same quarter last year is due largely to a planned program we initiated in the fourth quarter of last year that was designed to improve overall traffic quality through the deployment of technology and the enforcement of policies related to the use of our technology on the various pages or apps where it may reside. The result of these changes was lower revenue compared to last year but higher quality and revenue per lead delivered to clients. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The Owned &amp; Operated Network, which delivers advertisements to the aLOT branded websites and applications that Inuvo designs, builds and markets, represented 46% of the company&#8217;s total revenue in the current year quarter. The Owned &amp; Operated Network reported $5.9 million of revenue in the third quarter of 2014, a 60% increase over the same quarter last year, and a 10% increase over the second quarter of this year. The increases are in spite of the lower revenue in the segment due to a transition away from the AppBar product. The AppBar revenue in the third quarter of this year was $347 thousand, down from $1.8 million in the same quarter last year. Revenue from the aLOT sites and applications was $5.6 million, up 187% from the third quarter of last year and 16% over the immediate prior quarter.</font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Gross profit in the&#160;third quarter of 2014 was $7.1 million compared to $6.3 million last year, a 13% improvement.</font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Partner Network gross profit was approximately $1.2 million compared to $2.8 million last year. The lower gross profit in this year&#8217;s quarter was primarily due to lower revenue and the accrual of a sales allowance. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Gross Profit in the Owned &amp; Operated segment was $5.9 million compared to $3.5 million last year. The higher gross profit is due to higher revenue this year compared to last year. As a percent of revenue, the Owned &amp; Operated segment gross profit was 99% in the third quarter of 2014, compared to 95% for the same quarter last year, aided in part by the elimination of marketing expenses associated with the Appbar product. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Operating expense was $6.7&#160;million in the&#160;third quarter compared to $5.7 million in the same quarter last year.  </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Marketing costs are the primary costs associated with the Owned &amp; Operated Segment where dollars are spent in an effort to build an audience for the various sites and apps we own. Marketing costs increased $1.3 million in the third quarter of 2014 from the same quarter in the prior year. The higher marketing costs are related to increased investments to promote and create awareness of the newly launched 2014 aLOT sites and applications as well as to grow the existing sites and applications.</font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Compensation expense decreased by $221 thousand in the third quarter of 2014 from the same quarter in the prior year. The lower expense in the current quarter is primarily due to generally lower salaries and commission expense. Selling, general &amp; administration expense, or S, G &amp; A expense decreased $180 thousand in the third quarter of 2014 compared to the same quarter in the prior year. The decrease in the current quarter S, G &amp; A expense is due primarily to lower depreciation expense associated with the closing last year of offices and data centers in New York and Florida; and to lower facilities expense due to the move to Arkansas.</font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Going forward, on a quarterly basis we expect marketing costs to increase as we expand our owned and operated websites and applications; compensation expense to increase as we step up hiring commensurate with our growth and S, G &amp; A expense to remain relatively flat. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Other net expense is essentially interest expense and it was $85 thousand in the third quarter of 2014. Last year&#8217;s other net expense was $98 thousand. This year&#8217;s lower expense is due to lower loan balances though higher interest rate on the term debt. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">In September, we renewed our financing agreement with Bridge Bank for an additional two years and modified the terms, which included a $2 million term loan for three years at a significantly lower interest rate than we had previously been paying.  </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Net income from discontinued operations was $23 thousand in the third quarter of 2014 and was composed of a reversal of liabilities to web publishers and vendors from 2009 and earlier and foreign exchange gains and losses, this compares to $50 thousand dollars in the same quarter last year. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The Company reported a net income in the third quarter of 2014 of $403 thousand, or $0.02 per diluted share, compared to a $640 thousand or $0.03 per diluted share in the prior year quarter. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">EBITDA, adjusted for stock compensation expense and accrued severances was approximately $1.2 million in the quarter that ended September 30 2014 and that compares to an adjusted EBITDA of $1.5 million in the same quarter of the prior year. </font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;text-decoration:underline;">Balance Sheet as of September 30, 2014</font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Turning to the balance sheet, cash and cash equivalents totaled $3.5 million at the end of September compared to $3.1 million at December 31 2013.  Bank debt was approximately $4.5 million compared to $6.1 million at the end of 2013. Stockholders&#8217; equity was $7.4 million at September 30, 2014.</font></div><div style="line-height:240%;text-align:left;font-size:2pt;"><font style="font-family:Arial;font-size:2pt;"><br></font></div><div style="line-height:240%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">I would like to now turn the call back to Rich for closing remarks.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:14pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Richard Howe Comments: - </font><font style="font-family:Arial;font-size:12pt;">Thanks Wally.</font><font style="font-family:inherit;font-size:14pt;">&#32;</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We had a strong third quarter and the trend through October continues to be strong. We remain excited about the market potential for our new sites, apps and ad-units. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Let me now summarize what has been discussed today.</font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:Arial;font-size:12pt;">1)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Both segments of the business had double-digit sequential growth, with the overall business growing 19% sequentially. </font></div></td></tr></table><div style="line-height:180%;text-align:left;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:Arial;font-size:12pt;">2)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The Company delivered $13 million of Revenue, $1.2 million of AEBITDA and $403 thousand of Net Income in the third quarter. We&#8217;ve delivered $1.5 million of Net Income through the first 3 quarters, a record for our company. </font></div></td></tr></table><div style="line-height:180%;text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:Arial;font-size:12pt;">3)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Revenue from mobile sources in Q3 was 49% of our Top Line. Considering we entered 2014 at 15%, this represents a significant and positive shift in the business.</font></div></td></tr></table><div style="line-height:180%;text-align:left;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:180%;font-size:12pt;padding-left:24px;"><font style="font-family:Arial;font-size:12pt;">4)</font></div></td><td style="vertical-align:top;"><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">We refinanced our bank agreement and as a result have lower interest rates on the existing balance, which is now down to $4.5 million, but equally important, the new agreement currently provides access to about $2 million more in capital than is currently being used. </font></div></td></tr></table><div style="line-height:180%;text-align:left;padding-left:48px;font-size:2pt;"><font style="font-family:Arial;font-size:2pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">In closing, the Inuvo of today has a unique and proprietary combination of in-house marketing, ad- technologies and content &#8211; This differentiation, allows us the ability to align, both for ourselves within the Owned &amp; Operated segment and for our partners in the Partner segment, the three things necessary for marketing ROI, which is the alignment of Advertising with Content and Marketing Campaigns - you just don&#8217;t see this combination of expertise, technology and content together in most ad-tech companies. With that, I will now turn the call over to the operator for questions and answers. </font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:180%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Richard Howe Closing Comments: </font><font style="font-family:Arial;font-size:12pt;">I would like to thank everyone who joined us on today&#8217;s call. We appreciate your continued interest in Inuvo and look forward to reporting progress over the coming quarters. </font></div><br><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div>	</body>
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