<SEC-DOCUMENT>0001654954-23-014053.txt : 20231113
<SEC-HEADER>0001654954-23-014053.hdr.sgml : 20231113
<ACCEPTANCE-DATETIME>20231113061716
ACCESSION NUMBER:		0001654954-23-014053
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		18
CONFORMED PERIOD OF REPORT:	20231110
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20231113
DATE AS OF CHANGE:		20231113

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:		231394801

	BUSINESS ADDRESS:	
		STREET 1:		500 PRESIDENT CLINTON AVE., STE. 300
		CITY:			LITTLE ROCK
		STATE:			AR
		ZIP:			72201
		BUSINESS PHONE:		501-205-8508

	MAIL ADDRESS:	
		STREET 1:		500 PRESIDENT CLINTON AVE., STE. 300
		CITY:			LITTLE ROCK
		STATE:			AR
		ZIP:			72201

	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>inuvo_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?><html xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:currency="http://xbrl.sec.gov/currency/2023" xmlns="http://www.w3.org/1999/xhtml" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:us-roles="http://fasb.org/us-roles/2023" xmlns:country="http://xbrl.sec.gov/country/2023" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:srt-types="http://fasb.org/srt-types/2023" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2020-01-21" xmlns:srt="http://fasb.org/srt/2023" xmlns:us-gaap="http://fasb.org/us-gaap/2023" xmlns:inuvo="http://inuvo.com/20231110"><head><title>inuvo_8k.htm</title><!--Document Created by XBRLMaster--><meta http-equiv="Content-Type" content="text/html" /></head><body style="text-align:left;font:10pt times new roman"><div style='display:none;text-align:left;font:10pt times new roman;' id='XBRLDIV'><ix:header><ix:hidden><ix:nonNumeric name="dei:EntityCentralIndexKey" contextRef="From2023-11-10to2023-11-10">0000829323</ix:nonNumeric><ix:nonNumeric name="dei:AmendmentFlag" contextRef="From2023-11-10to2023-11-10" format="ixt:booleanfalse">false</ix:nonNumeric></ix:hidden><ix:references><link:schemaRef xlink:type='simple' xlink:href='inuvo-20231110.xsd'></link:schemaRef></ix:references><ix:resources><xbrli:context id="From2023-11-10to2023-11-10"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0000829323</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2023-11-10</xbrli:startDate><xbrli:endDate>2023-11-10</xbrli:endDate></xbrli:period></xbrli:context><xbrli:unit id="USD"><xbrli:measure>iso4217:USD</xbrli:measure></xbrli:unit><xbrli:unit id="Shares"><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unit><xbrli:unit id="USDPShares"><xbrli:divide><xbrli:unitNumerator><xbrli:measure>iso4217:USD</xbrli:measure></xbrli:unitNumerator><xbrli:unitDenominator><xbrli:measure>xbrli:shares</xbrli:measure></xbrli:unitDenominator></xbrli:divide></xbrli:unit></ix:resources></ix:header></div><table style="font-size:1px;width:100%"><tbody><tr><td style="BORDER-BOTTOM: 5px solid;"></td></tr><tr><td style="BORDER-BOTTOM: 2px solid;"></td></tr></tbody></table><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>UNITED STATES</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>SECURITIES AND EXCHANGE COMMISSION</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Washington, DC 20549</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><span style="font-size:18pt">FORM <ix:nonNumeric name="dei:DocumentType" contextRef="From2023-11-10to2023-11-10">8-K</ix:nonNumeric></span></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>CURRENT REPORT</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Date of Report (Date of earliest event reported) <strong><span style="text-decoration:underline"><ix:nonNumeric name="dei:DocumentPeriodEndDate" contextRef="From2023-11-10to2023-11-10" format="ixt:datemonthdayyearen">November 10, 2023</ix:nonNumeric></span></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:45%" cellpadding="0"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: #000000 1px solid;width:90%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><span style="font-size:18pt"><ix:nonNumeric name="dei:EntityRegistrantName" contextRef="From2023-11-10to2023-11-10">Inuvo, Inc.</ix:nonNumeric></span></strong></p></td></tr><tr style="height:15px"><td style="width:90%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(Exact name of registrant as specified in its charter)</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:85%" cellpadding="0"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: #000000 1px solid;width:30%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><ix:nonNumeric name="dei:EntityIncorporationStateCountryCode" contextRef="From2023-11-10to2023-11-10" format="ixt-sec:stateprovnameen">Nevada</ix:nonNumeric></strong></p></td><td style="width:5%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="BORDER-BOTTOM: #000000 1px solid;width:30%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><ix:nonNumeric name="dei:EntityFileNumber" contextRef="From2023-11-10to2023-11-10">001-32442</ix:nonNumeric></strong></p></td><td style="width:5%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="BORDER-BOTTOM: #000000 1px solid;width:30%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><ix:nonNumeric name="dei:EntityTaxIdentificationNumber" contextRef="From2023-11-10to2023-11-10">87-0450450</ix:nonNumeric></strong></p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(State or other jurisdiction </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">of incorporation)</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(Commission </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">File Number)</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(IRS Employer </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">Identification No.)</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;text-align:justify;margin-left:auto;margin-right:auto;width:85%" cellpadding="0"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: #000000 1px solid;width:45%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><ix:nonNumeric name="dei:EntityAddressAddressLine1" contextRef="From2023-11-10to2023-11-10">500 President Clinton Ave.</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressAddressLine2" contextRef="From2023-11-10to2023-11-10">Ste. 300</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressCityOrTown" contextRef="From2023-11-10to2023-11-10">Little Rock</ix:nonNumeric>, <ix:nonNumeric name="dei:EntityAddressStateOrProvince" contextRef="From2023-11-10to2023-11-10">AR</ix:nonNumeric></strong></p></td><td style="width:10%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="BORDER-BOTTOM: #000000 1px solid;width:45%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong><ix:nonNumeric name="dei:EntityAddressPostalZipCode" contextRef="From2023-11-10to2023-11-10">72201</ix:nonNumeric></strong></p></td></tr><tr style="height:15px"><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(Address of principal executive offices)</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">(Zip Code)</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:50%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">Registrant's telephone number, including area code </p></td><td style="width:50%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;<span style="text-decoration:underline"><strong>(<ix:nonNumeric name="dei:CityAreaCode" contextRef="From2023-11-10to2023-11-10">501</ix:nonNumeric>) <ix:nonNumeric name="dei:LocalPhoneNumber" contextRef="From2023-11-10to2023-11-10">205-8508</ix:nonNumeric></strong></span></p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">__________________________________________</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:90%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&#160;(Former name or former address, if changed since last report)</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">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):</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:8%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><ix:nonNumeric name="dei:WrittenCommunications" contextRef="From2023-11-10to2023-11-10" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:8%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><ix:nonNumeric name="dei:SolicitingMaterial" contextRef="From2023-11-10to2023-11-10" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:8%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><ix:nonNumeric name="dei:PreCommencementTenderOffer" contextRef="From2023-11-10to2023-11-10" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:8%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" contextRef="From2023-11-10to2023-11-10" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p></td><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">Emerging growth company <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" contextRef="From2023-11-10to2023-11-10" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="font-size:1px;width:100%"><tbody><tr><td style="BORDER-BOTTOM: 2px solid;"></td></tr><tr><td style="BORDER-BOTTOM: 5px solid;"></td></tr></tbody></table><table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td class="hpbhr">&#160;</td></tr><tr style="height:15px"><td style="TEXT-INDENT: 0px;"></td></tr><tr style="height:15px"><td><p style='page-break-after: always'></p></td></tr><tr style="height:15px"><td>&#160;</td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">On November 10, 2023, Inuvo, Inc. issued a press release regarding financial performance for Q3 2023. A copy of the earnings release is being furnished herewith as Exhibit 99.1.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">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 Section 18 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.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">The Company made reference to non-GAAP financial information in the press release and a reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the press release.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>ITEM 7.01 REGULATION FD DISCLOSURE.</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">On November 10, 2023, the Company held a management conference call to discuss the Company's financial results for Q3 2023, the outlook of the Company and certain other matters.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">A copy of the script for the conference call is attached as Exhibit 99.2 and is incorporated by reference into this Current Report on Form8-K.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">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.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">(d) Exhibits.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;text-align:left;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: #000000 1px solid;width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Exhibit No.</p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td style="BORDER-BOTTOM: #000000 1px solid;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;Description</p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex991.htm">99.1 </a></p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex991.htm">Press Release for Q3 2023 financial results.</a></p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex992.htm">99.2 </a></p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex992.htm">Conference Call Script.</a></p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td class="hpbhr">&#160;</td></tr><tr style="height:15px"><td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">2</p></td></tr><tr style="height:15px"><td><p style='page-break-after: always'></p></td></tr><tr style="height:15px"><td>&#160;</td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td style="width:90%;vertical-align:top;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>SIGNATURES</strong></p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; TEXT-INDENT: 45px; text-align:left;">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-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td colspan="3" style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">INUVO, INC.</p><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td></tr><tr style="height:15px"><td style="width:50%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Date:&#160;November 10, 2023</p></td><td style="width:3%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">By:&#160;&#160;</p></td><td style="BORDER-BOTTOM: #000000 1px solid;width:35%;vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">/s/ John B. Pisaris</p></td><td style="width:12%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">John B. Pisaris, General Counsel</p></td><td></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td class="hpbhr">&#160;</td></tr><tr style="height:15px"><td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">3</p></td></tr><tr style="height:15px"><td><p style='page-break-after: always'></p></td></tr><tr style="height:15px"><td>&#160;</td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>EXHIBIT INDEX</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160; </p><table style="border-spacing:0;font-size:10pt;text-align:left;width:100%" cellpadding="0"><tbody><tr style="height:15px;background-color:#cceeff"><td style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex991.htm">99.1 </a></p></td><td style="width:1%;"><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex991.htm">Press Release for Q3 2023 financial results.</a></p></td></tr><tr style="height:15px;background-color:#ffffff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td></tr><tr style="height:15px;background-color:#cceeff"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex992.htm">99.2 </a></p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px">&#160;</p></td><td><p style="font-size:10pt;font-family:times new roman;margin:0px"><a href="inuvo_ex992.htm">Conference Call Script.</a></p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;</p><table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"><tbody><tr style="height:15px"><td class="hpbhr">&#160;</td></tr><tr style="height:15px"><td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">4</p></td></tr></tbody></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&#160;&#160;</p></body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>inuvo_ex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<html><head><title>inuvo_ex991.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>EXHIBIT 99.1</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><img src="inuvo_ex991img5.jpg"></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong></strong>&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Inuvo Reports Record Quarterly Revenue of $24.6 Million, a</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>44% Year-Over-Year Increase for the Third Quarter of 2023</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><em>Reports positive free cash flow and adjusted EBITDA</em></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><em>Management to host conference call at 11:00 AM ET today, Friday, November 10, 2023</em></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>LITTLE ROCK, AR, November 10, 2023 (GLOBE NEWSWIRE)</strong> -- Inuvo, Inc. (NYSE American: INUV), a leading provider of marketing technology, powered by artificial intelligence (AI) that serves brands and agencies, today provided a business update, and announced its financial results for the third quarter ended September 30, 2023.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Recent Highlights:</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:4%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:4%;vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px"><font style="font-family:symbol">&#183;</font></p></td> <td style="vertical-align:top;">Added a dozen new clients across non-profit sector, entertainment, oil &amp; gas, consulting and retail industries</td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px"><font style="font-family:symbol">&#183;</font></p></td> <td style="vertical-align:top;">Released version 2.0 of the AI-powered <u>Audience Discovery Portal</u></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px"><font style="font-family:symbol">&#183;</font></p></td> <td style="vertical-align:top;">Announced that by using its IntentKey solution, advertisers can reach their desired audiences on Safari browser, despite new <u>privacy restrictions</u></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:30px">&nbsp;</p></td> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px"><font style="font-family:symbol">&#183;</font></p></td> <td style="vertical-align:top;">Significantly enhanced IntentKey&#8217;s generated Insights within the clients <u>dashboard</u></td></tr></table>&nbsp;&nbsp; <p style="font-size:10pt;font-family:times new roman;margin:0px">Richard Howe, CEO of Inuvo, stated, &#8220;I am pleased to report that we achieved a 44% year-over-year increase in revenue to $24.6 million for the third quarter of 2023, the highest quarterly revenue realized in the Company&#8217;s history. &nbsp;We also achieved strong sequential revenue growth of 48%, a 117% year-over-year increase in gross profit and delivered positive adjusted EBITDA for the quarter. Notably, for the last five months, we have been generating positive free cash flow.&#8221; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Mr. Howe added, &#8220;The end of identity and consumer data-oriented ad-targeting across the open web is fast approaching. This transformation will impact every aspect of how marketing has been done for generations. Our proprietary AI-powered IntentKey could not be better positioned given the privacy oriented technological and legislative events occurring within our industry.&#8221; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Financial Results for the Three and Nine Months Ended September 30, 2023</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Net revenue for the third quarter of 2023 totaled $24.6 million, compared to $17.1 million for the same period last year. &nbsp;Net revenue for the nine months ended September 30, 2023, totaled $53.1 million compared to $58.3 million for the same period last year. The higher revenue for the three-month period ended September 30, 2023 compared to comparable prior year period was primarily attributable to an increased focus on Indirect channels since the start of the year. The change in mix between Direct and Indirect revenue in 2023 is attributed to this change in focus. Indirect channels provide access to multiple end-clients.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">1</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Cost of revenue for the third quarter of 2023 totaled $2.3 million, compared to $6.8 million for the same period last year. Cost of revenue for the nine months ended September 30, 2023, totaled $7.8 million as compared to $24.7 million for the same period last year. &nbsp;The decrease in the cost of revenue for the three months and nine months ended September 30, 2023, as compared to the same periods last year, was related to the decline in focus related to Direct customers. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Gross profit for the three and nine months ended September 30, 2023, totaled $22.3 million and $45.2 million, respectively, as compared to $10.3 million and $33.6 million, respectively, for the same periods last year. Gross profit margin for the three and nine months ended September 30, 2023, was 90.7% and 85.2%, respectively, as compared to 60.3% and 57.6%, respectively, for the same periods last year. The higher gross margin was due to changes in revenue mix, where a greater percentage of the revenue this year was from Indirect customers, which typically have higher gross margins. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Operating expenses for the three months ended September 30, 2023, totaled $23.5 million compared to $14.1 million for the same period last year. Operating expenses for the nine months ended September 30, 2023, totaled $53.2 million compared to $42.3 million for the same period last year. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Net loss for the third quarter of 2023 totaled $1.2 million, or $0.01 per basic and diluted share, as compared to net loss of $3.8 million, or $0.03 per basic and diluted share, for the same period last year. Net loss for the nine months ended September 30, 2023, totaled $8.0 million, or $0.06 per basic and diluted share, as compared to net loss of $9.1 million, or $0.08 per basic and diluted share, for the same period last year. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Adjusted EBITDA <em>[see reconciliation table below]</em> was approximately $32 thousand in the third quarter of 2023, compared to a loss of approximately $2.6 million for the same period last year. Adjusted EBITDA was a loss of approximately $4.4 million for the nine months ended September 30, 2023, compared to a loss of approximately $3.4 million for the same period last year.&nbsp; </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Liquidity and Capital Resources:</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As of September 30, 2023, Inuvo had $7.0 million in cash and cash equivalents, approximately $1.7 million of working capital, and a working capital facility of $5.0 million with no outstanding balance.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">As of November 6, 2023, Inuvo had 137,981,678 common shares issued and outstanding.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Conference Call Details: </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Date: Friday, November 10, 2023 </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Time: 11:00 a.m. Eastern Time </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Toll-free Dial-in Number: 1-888-506-0062</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">International Dial-in Number: +1 973-528-0011</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Conference ID: 983191</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Webcast Link: <u>HERE</u></p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><u></u>&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">An audio replay of the call will be available through November 24, 2023, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and by entering the access code: 49395.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">2</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>About Inuvo</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Inuvo&#174;, Inc. (NYSE American: INUV) is a market leader in Artificial Intelligence built for advertising. Its IntentKey AI solution is a first-of-its-kind proprietary and patented technology capable of identifying and actioning to the reasons why consumers are interested in products, services, or brands, not who those consumers are. To learn more, visit <u>www.inuvo.com</u>.<strong></strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Safe Harbor / Forward-Looking Statements</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">This press release contains &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Inuvo&#8217;s quarter-end financial close process and preparation of financial statements for the quarter that are subject to risks and uncertainties that could cause results to be materially different than expectations. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including, without limitation risks detailed from time to time in our filings with the Securities and Exchange Commission (the &#8220;SEC&#8221;), and represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading &#8220;Risk Factors&#8221; in Inuvo, Inc.&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 as filed on March 10, 2023, and our other filings with the SEC. &nbsp;Additionally, forward looking statements are subject to certain risks, trends, and uncertainties including the continued impact of Covid-19 on Inuvo&#8217;s business and operations. Inuvo cannot provide assurances that the assumptions upon which these forward-looking statements are based will prove to have been correct. Should one of these risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expressed or implied in any forward-looking statements, and investors are cautioned not to place undue reliance on these forward-looking statements, which are current only as of this date. Inuvo does not intend to update or revise any forward-looking statements made herein or any other forward-looking statements as a result of new information, future events or otherwise. Inuvo further expressly disclaims any written or oral statements made by a third party regarding the subject matter of this press release. The information which appears on our websites and our social media platforms is not part of this press release.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Inuvo Company Contact: </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Wally Ruiz&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Chief Financial Officer </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Tel (501) 205-8397 </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">wallace.ruiz@inuvo.com</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Investor Relations :</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">David Waldman / Natalya Rudman</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Crescendo Communications, LLC</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Tel: (212) 671-1020</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">inuv@crescendo-ir.com</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">3</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><u>(Tables follow)</u></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>INUVO, INC.</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <table style="border-spacing:0;width:100%;text-align:left;font:10pt times new roman" cellpadding="0"> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="6"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Three Months Ended</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="6"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Nine Months Ended</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2022</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2022</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Net revenue</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">24,570,588</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">17,072,189</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">53,069,433</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">58,332,859</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Cost of revenue</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">2,274,626</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">6,782,047</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">7,833,729</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">24,717,143</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Gross profit</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">22,295,962</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">10,290,142</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">45,235,704</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">33,615,716</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Operating expenses</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">90.7</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">60.3</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">85.2</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">57.6</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Marketing costs</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">17,625,806</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">8,620,161</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">36,769,972</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">26,778,020</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Compensation</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">3,525,943</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">3,237,414</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">10,202,200</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">9,611,011</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Selling, general and administrative</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">2,335,295</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">2,206,119</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">6,229,069</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">5,944,027</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Total operating expenses</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">23,487,044</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">14,063,694</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">53,201,241</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">42,333,058</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Operating loss</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(1,191,082</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(3,773,552</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(7,965,537</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(8,717,342</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Interest (expense) income, net</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">19,852</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(13,149</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(37,454</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(11,078</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Other income (loss) , net</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">250</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(23,861</td> <td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">14,668</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(401,336</td> <td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Net loss</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(1,170,980</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(3,810,562</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(7,988,323</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(9,129,756</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Other comprehensive income</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Unrealized loss on marketable securities</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">-</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">36,170</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">84,868</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">(186,239</td> <td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Comprehensive loss</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(1,170,980</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(3,774,392</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(7,903,455</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(9,315,995</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#ffffff"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Earnings per share, basic and diluted</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Net loss income</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;">($0.01)</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;">($0.03)</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;">($0.06)</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:right;">($0.08)</p></td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Weighted average shares outstanding</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Basic</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">127,381,051</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">119,995,367</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">128,793,522</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">118,838,258</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Diluted</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">127,381,051</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">119,995,367</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">128,793,522</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">118,838,258</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">4</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>INUVO, INC.</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <table style="border-spacing:0;width:100%;text-align:left;font:10pt times new roman" cellpadding="0"> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>December 31</strong></p></td> <td style="white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2022</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Assets</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" colspan="2" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" colspan="2" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" colspan="2" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" colspan="2" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Cash and cash equivalent</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">6,978,481</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">2,931,415</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Marketable securities-short term</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,529,464</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Accounts receivable, net</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">10,159,727</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">11,119,892</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Prepaid expenses and other current assets</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">959,037</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">798,977</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Total current assets</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">18,097,245</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">16,379,748</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Property and equipment, net</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,682,427</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,668,972</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Goodwill</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">9,853,342</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">9,853,342</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Intangible assets, net of accumulated amortization</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">4,910,916</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">5,649,291</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Other assets</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,631,724</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">2,005,957</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Total assets</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">36,175,654</td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">35,557,310</td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Liabilities and Stockholders&#8217; Equity</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Current liabilities</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in;text-indent:11pt">Accounts payable</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">7,766,466</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">8,044,802</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in;text-indent:11pt">Accrued expenses and other current liabilities</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">8,673,984</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">5,550,984</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Total current liabilities</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">16,440,450</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">13,595,786</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Long-term liabilities</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">866,526</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">212,208</td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Total stockholders&#8217; equity</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">18,868,678</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">21,749,316</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="margin:0px 0px 0px 0in">Total liabilities and stockholders&#8217; equity</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">36,175,654</td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">35,557,310</td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="margin:0px">&nbsp;</p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp; </p><strong></strong> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">5</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>RECONCILIATION OF LOSS FROM CONTINUING OPERATIONS BEFORE TAXES TO ADJUSTED EBITDA</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>(unaudited)</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;">&nbsp;</p> <table style="border-spacing:0;width:100%;text-align:left;font:10pt times new roman" cellpadding="0"> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="6"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Three Months Ended</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: #000000 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="6"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>Nine Months Ended</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>September 30</strong></p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2022</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2023</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="hdcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;" colspan="2"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:center;"><strong>2022</strong></p></td> <td style="PADDING-BOTTOM: 1px;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Net loss</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(1,170,980</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(3,810,562</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(7,988,323</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(9,129,756</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Interest (Income) Expense</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(19,852</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">13,149</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">37,454</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">11,078</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Depreciation</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">420,808</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">394,942</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,245,762</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,124,674</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Amortization</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">265,904</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">270,742</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">816,167</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">898,484</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">&nbsp;&nbsp; EBITDA</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(504,120</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(3,131,729</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(5,888,940</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">(7,095,520</td> <td style="width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Stock-based compensation</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">536,538</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">535,458</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,471,683</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,890,991</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Non recurring items:</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Expense of fraudulent media</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1,367,800</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#cceeff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Unrealized loss on marketable securities</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">23,861</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 1px solid;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:right;">401,336</td> <td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td></tr> <tr style="height:15px;background-color:#ffffff"> <td style="vertical-align:top;"> <p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 0in">Adjusted EBITDA</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">32,418</td> <td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(2,572,410</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(4,417,257</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td> <td style="width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM: 3px double;width:1%;white-space: nowrap;"> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p></td> <td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">(3,435,393</td> <td style="PADDING-BOTTOM: 3px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Reconciliation of Operating Loss to EBITDA and Adjusted EBITDA&nbsp;</strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">We present EBITDA and Adjusted EBITDA as a supplemental measure of our performance. We defined EBITDA as Net loss plus (i) interest expense, (ii) depreciation, and (iii) amortization. We further define Adjusted EBITDA as EBITDA plus (iv) stock-based compensation and (v) certain identified expenses that are not expected to recur or be representative of future ongoing operation of the business. These adjustments are itemized above. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating EBITDA and Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same or similar to some of the adjustments in the presentation. Our presentation of EBITDA and Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; TEXT-INDENT: 0px;">6</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p><body>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>inuvo_ex992.htm
<DESCRIPTION>CONFERENCE CALL SCRIPT.
<TEXT>
<html><head><title>inuvo_ex992.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;"><strong>&nbsp;EXHIBIT 99.2</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Operator Comments:</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Good afternoon, and welcome to INUVO&#8217;s 2023 Third Quarter Conference Call. Today&#8217;s conference is being recorded. Ms. Natalya Rudman of Crescendo Communications, please go ahead.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Natalya Rudman (Investor Relations) Comments:</strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Thank you, operator, and good morning. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">I&#8217;d like to thank everyone for joining us today for the INUVO third quarter 2023 shareholder update call. Today, INUVO&#8217;s Chief Executive Officer Richard Howe and Chief Financial Officer Wally Ruiz will be your presenters on the call.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We would also like to remind our shareholders that as today is a federal holiday, we plan on filing our 10-Q with the Securities and Exchange Commission on Monday.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Before we begin, I&#8217;m going to review the Company&#8217;s Safe Harbor statement. The statements in this conference call that are not descriptions of historical facts are forward-looking statements relating to future events and, as such, all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995.&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">These forward-looking statements are subject to risks and uncertainties and actual results may differ materially. When used in this call, the words anticipate, could, enable, estimate, intend, expect, believe, potential, will, should, project, and similar expressions as they relate to INUVO, Inc., are, as such, a forward-looking statement.&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">1</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp;&nbsp;&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Investors are cautioned that all forward-looking statements involve risks and uncertainties which may cause actual results to differ from those anticipated by INUVO at this time. In addition, other risks are more fully described in INUVO&#8217;s public filings with the US Securities and Exchange Commission, which can be reviewed at <u>www.sec.gov</u>.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events, or circumstances after the date hereof that bear upon forward-looking statements. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">In addition, today&#8217;s discussion will include references to non-GAAP measures. The Company believes that such information provides an additional measurement and consistent historical comparison of its performance. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is available in today&#8217;s news release on our website.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">With that, I&#8217;ll now turn the call over to CEO Richard Howe.&nbsp; </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>Richard Howe (CEO) Comments: </strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">Thank you, Natalya and thanks, everyone for joining us today. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We are pleased to report that for the quarter ended September 30, 2023 Inuvo delivered the highest quarterly revenue in its history, growing 44% year-over-year and 48% sequentially to $24.6 million as compared to $17.1 million and $16.7 million for the prior periods, respectively. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We delivered roughly $32 thousand dollars of Adjusted EBITDA in the quarter following a $1.8 million dollar Adjusted EBITDA loss in the second quarter of 2023. On a cash flow basis, the company has been generating free cashflow for the last five months, averaging roughly $800 thousand per month or approximately 11% of average monthly revenue for that period. As we have leaned into our indirect channels in 2023, our gross margins have consequently increased to 91% in the third quarter of 2023. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">2</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Our cash and cash equivalents position remains strong, measuring roughly $7 million at the end of September. Additionally, at the end of the quarter we had no debt and a $5 million unused borrowing facility. During the quarter, we resolved a dispute with a large advertising platform that was first disclosed in the second quarter of 2022. Wally will talk more about the quarter&#8217;s financial results in his section of the call. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Let me now turn to some of the operational highlights. As mentioned earlier and on previous calls this year, we leaned into our indirect channels at the beginning of 2023. As we have also described on previous calls, an indirect channel is one where we gain access to advertisers through that advertiser&#8217;s platform and/or its services providers. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We continue to see strong demand through this go-to-market channel as evidenced in the revenue mix change year-over-year between indirect and direct as disclosed within our financial statements. We have a number of potentially significant initiatives underway with a few of the larger clients within this indirect channel that we believe will continue to contribute to strong revenue growth into Q4 and 2024.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Our sales team was very active in the third quarter, adding roughly a dozen new advertisers to the roster across industries that include the non-profit sector, entertainment, oil &amp; gas, consulting and retail. The sales team has narrowed its focus to the empowerment of mid-sized agencies through the incorporation of our technology and services. This strategy allows these agencies to better serve their clients with improved performance and differentiation while mitigating the current and future privacy risks associated with using consumer data. We currently have 21 total associates within our go-to-market team. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">3</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Our awareness &amp; marketing outreach activities have continued to increase throughout 2023 driven principally by our attendance at industry conferences and the increase in media coverage related to our proprietary artificial intelligence ad-targeting technology. &nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">More specifically, we have seen an uptick in media coverage since March having appeared in various publications roughly 20 times. This has included well respected industry journals like Advertising Week, DigiDay and Media Post. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">In the last four months, we have also announced enhancements to our Audience Discovery Portal, an enrichment to our Safari targeting capabilities and a significant augmentation of our AI generated client Dashboards. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Each one of these technological advancements represent never before delivered features and/or capabilities by any AdTech company and are the direct result of our proprietary large language, generative artificial intelligence. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">At the end of Q2 we reported that we had delivered roughly 80 different campaigns in the year. As of the end of Q3, we are projecting to have delivered roughly 100 campaigns by year-end. Performance against client KPI&#8217;s remains strong across those campaigns. As was the case in Q2, we also had 2 former clients return in the third quarter. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">As we have continued to message for the better part of two years, our industry is in the midst of a transformation that will impact every single aspect of how marketing has been done for generations. This transformation at its foundation is all about how our industry uses consumer identity and data for ad-targeting. This change mostly impacts the non-walled garden open web. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Apple&#8217;s latest IOS release in September included, yet again, changes that will thwart conventional identity-based advertising technology. Google has already stated they will begin disabling 3<sup style="vertical-align:super">rd</sup> party cookies in Q1 of 2024 and have recently also stated they are working on IP blocking technology which they plan to release within Chrome in February of 2024. The IntentKey AI technology we have developed could not be better positioned given this series of significant technological and legislative events occurring simultaneously. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">4</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:right;">&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">As a solution for marketers who want to target the open web outside the walled gardens, we continue to have the best future proof offering available within the market. Our AI locates and targets audiences for any product, service or brand without identity or consumer data, it predicts just-in-time which channels and campaigns will perform so media budgets can be adjusted in real-time, it generates detailed insights that highlight the reasons why audiences are actually interested, it generates demographical information and it informs cable television buying in ways never before possible. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">I would now like to turn the call over to Wally for a more detailed assessment of our financial performance within the quarter. </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>Ruiz (CFO) Comments: </strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Thank you, Rich, and good morning everyone. I will recap our third quarter financial results. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">As Rich mentioned, Inuvo reported revenue of $24.6 million for the quarter ended September 30, 2023; a 44% increase, or $7.5 million higher than the $17.1 million reported in the third quarter of the prior year; the highest quarterly revenue ever achieved by the company.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">As Rich also mentioned, this year we changed our go-to-market focus to pursue indirect channels. During the year, we launched new products and enhancements directed at these Indirect Customers, and as a result, the revenue mix has changed. This year&#8217;s third quarter revenue was 88% from Indirect Customers compared to 55% last year. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">5</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">An agency customer may have multiple advertisers we can serve. Our sales team, now composed of ten team members, has contracted with approximately 40 new customers, both direct and indirect since the start of the year. We believe this momentum will give us a strong head start into next year. We expect revenue from our Indirect Customers to continue to grow and this revenue mix to persist for the remainder of the year.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Cost of revenue was $2.3 million in the third quarter of 2023 compared to $6.8 million in the same quarter last year. Cost of revenue is predominately payments to advertising platforms that provide access to supplies of advertising inventory. These advertisements are placed on behalf of our clients.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Gross profit for the third quarter ended September 30, 2023, totaled $22.3 million as compared to $10.3 million for the same period last year. Gross profit margin for the third quarter this year was 91% as compared to 60% for the same quarter last year. The change in revenue mix has had a positive impact on gross margins, where Indirect Customers generally have higher margins. We expect Inuvo&#8217;s gross margins for the remainder of the year to be in line with the results of this quarter.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Operating expenses were $23.5 million in the third quarter of 2023 compared to $14.1 million in the prior year, an increase of $9.4 million which reflects the higher marketing expenses associated with the indirect channel. The largest component of our operating expenses is marketing costs. Marketing costs were $17.6 million in the third quarter of this year compared to $8.6 million in the same quarter last year. Going forward, we expect marketing costs as a percentage of revenue to continue at a relatively similar pace. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">During the quarter we settled an outstanding dispute with a large advertising network that was first reported in June of last year. We are satisfied with the settlement, and it has been recorded as an offset to marketing expenses.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">6</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Compensation expense was $3.5 million in the third quarter this year compared to $3.2 million in the prior year due to higher employee salary cost, commissions and accrued incentive expense. Our full-time and part-time employment was 86 on September 30, 2023, compared to 92 on September 30, 2022. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">General and administrative expense increased by $129 thousand in the third quarter this year, compared to the prior year, due to higher doubtful account allowance, depreciation expense and IT costs, partially offset by lower professional fees and travel &amp; entertainment expense.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Net financing costs were $20 thousand income in the third quarter of 2023 compared to a $37 thousand expense in the same quarter last year. This year&#8217;s income is due to a decrease in utilization of our line of credit and an increase in our bank interest income. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We reported a net loss of $1.2 million or 1&#162; per basic share compared to a $3.8 million net loss or 3&#162; per basic share in the same quarter last year. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We had a positive EBITDA adjusted for stock-based compensation expense, and as Rich mentioned we have had positive monthly free cash flow since May. We define free cash flow as net cash used in operating activities less capitalized costs. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">On September 30, 2023, we had cash and cash equivalents of $7 million, and net working capital of $1.7 million. In addition, we have a $5 million working capital line of credit which had no outstanding balance. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We maintain a simple capital structure with 138 million common shares outstanding, 6.9 million employee restricted stock units outstanding through an equity incentive plan and 107 thousand of out of the money warrants. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">7</td></tr> <tr style="height:15px"> <td><p style='page-break-after: always'></p></td></tr> <tr style="height:15px"> <td>&nbsp;</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; &nbsp;</p> <table style="border-spacing:0;font-size:10pt;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:42%;vertical-align:top;"> <p style="MARGIN: 0px; text-align:left;"><strong>Inuvo, Inc.</strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>Third Quarter 2023 </strong></p> <p style="MARGIN: 0px; text-align:left;"><strong>November 10, 2023</strong></p></td> <td style="width:40%;"> <p style="MARGIN: 0px; text-align:right;"><img src="inuvo_ex992img10.jpg"></p></td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;&nbsp; </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Now, I&#8217;d like to turn the call back to Rich for closing remarks.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>Richard Howe (CEO) Closing Comments: </strong></p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Thanks, Wally. We had exceptionally strong year-over-year and sequential growth for the quarter, up 44% and 48% respectively. At $24.6 million of revenue for the quarter, we are now approaching the revenue run rate at which generating free cash flow becomes more typical. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">Through the first nine months of the year, we have continued to make significant advancements both in the technology and the services that will be required to continue scaling our company. We also have numerous initiatives underway that provide us with a positive outlook for the future of our business. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">We continue to invest in sales and awareness programs so we can capitalize on the demand associated with a changing market driven by privacy concerns from government, technology, and consumers.</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">The growth rate in the third quarter was significant and consequently our client support organizations are first and foremost focused on client satisfaction. As a result, we are forecasting to be up between 30-40% year-over-year in the fourth quarter of 2023. </p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">I will now turn the call over to the operator for questions. Operator?</p> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;"><strong>Richard Howe Final Comments: </strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">I would like to thank everyone who joined us on today&#8217;s call. We appreciate your continued interest in our company. &nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p> <table style="border-spacing:0;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td class="hpbhr">&nbsp;</td></tr> <tr style="height:15px"> <td style="BORDER-BOTTOM: black 1px solid; TEXT-INDENT: 0px;text-align:center;">8</td></tr></table> <p style="font-size:10pt;font-family:times new roman;margin:0px">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">&nbsp;</p><body>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>4
<FILENAME>inuvo-20231110.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--XBRL Document Created with XBRLMaster-->
<!--Version: 2.3.08-->
<!--Based on XBRL 2.1-->
<!--Date of creation: 11/09/2023-->
<!--Software architectural design and coding: A'c Dharmapremananda Avt.-->
<!--Copyright (c) 2023 I-NET Business Solutions, Inc. All Rights Reserved.-->
<schema xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:currency="http://xbrl.sec.gov/currency/2023" xmlns:us-gaap-att="http://fasb.org/us-gaap/attributes" xmlns:sic="http://xbrl.sec.gov/sic/2023" xmlns:exch="http://xbrl.sec.gov/exch/2023" xmlns:invest="http://xbrl.sec.gov/invest/2013-01-31" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:naics="http://xbrl.sec.gov/naics/2023" xmlns:us-types="http://fasb.org/us-types/2023" xmlns:stpr="http://xbrl.sec.gov/stpr/2023" xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:country="http://xbrl.sec.gov/country/2023" xmlns:utr="http://www.xbrl.org/2009/utr" xmlns:srt-types="http://fasb.org/srt-types/2023" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2020-01-21" xmlns:srt-roles="http://fasb.org/srt-roles/2023" xmlns:dei="http://xbrl.sec.gov/dei/2023" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:srt="http://fasb.org/srt/2023" xmlns:us-gaap="http://fasb.org/us-gaap/2023" xmlns:inuvo="http://inuvo.com/20231110" attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://inuvo.com/20231110">
 <annotation>
  <appinfo>
   <link:roleType roleURI="http://inuvo.com/role/Cover" id="Cover">
    <link:definition>000001 - Document - Cover</link:definition>
    <link:usedOn>link:presentationLink</link:usedOn>
    <link:usedOn>link:calculationLink</link:usedOn>
    <link:usedOn>link:definitionLink</link:usedOn>
   </link:roleType>
   <link:linkbaseRef xlink:type="simple" xlink:href="inuvo-20231110_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
   <link:linkbaseRef xlink:type="simple" xlink:href="inuvo-20231110_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
   <link:linkbaseRef xlink:type="simple" xlink:href="inuvo-20231110_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
   <link:linkbaseRef xlink:type="simple" xlink:href="inuvo-20231110_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
  </appinfo>
 </annotation>
 <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
 <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
 <import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
 <import namespace="http://xbrl.sec.gov/country/2023" schemaLocation="https://xbrl.sec.gov/country/2023/country-2023.xsd" />
 <import namespace="http://xbrl.sec.gov/currency/2023" schemaLocation="https://xbrl.sec.gov/currency/2023/currency-2023.xsd" />
 <import namespace="http://xbrl.sec.gov/dei/2023" schemaLocation="https://xbrl.sec.gov/dei/2023/dei-2023.xsd" />
 <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
 <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
 <import namespace="http://xbrl.sec.gov/exch/2023" schemaLocation="https://xbrl.sec.gov/exch/2023/exch-2023.xsd" />
 <import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd" />
 <import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
 <import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
 <import namespace="http://xbrl.sec.gov/naics/2023" schemaLocation="https://xbrl.sec.gov/naics/2023/naics-2023.xsd" />
 <import namespace="http://xbrl.sec.gov/sic/2023" schemaLocation="https://xbrl.sec.gov/sic/2023/sic-2023.xsd" />
 <import namespace="http://fasb.org/srt-roles/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd" />
 <import namespace="http://fasb.org/srt-types/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd" />
 <import namespace="http://www.xbrl.org/dtr/type/2020-01-21" schemaLocation="https://www.xbrl.org/dtr/type/2020-01-21/types.xsd" />
 <import namespace="http://xbrl.sec.gov/stpr/2023" schemaLocation="https://xbrl.sec.gov/stpr/2023/stpr-2023.xsd" />
 <import namespace="http://fasb.org/us-roles/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd" />
 <import namespace="http://fasb.org/us-types/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd" />
 <import namespace="http://fasb.org/srt/2023" schemaLocation="https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd" />
 <import namespace="http://fasb.org/us-gaap/2023" schemaLocation="https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>inuvo-20231110_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--XBRL Document Created with XBRLMaster-->
<!--Version: 2.3.08-->
<!--Based on XBRL 2.1-->
<!--Date of creation: 11/09/2023-->
<!--Software architectural design and coding: A'c Dharmapremananda Avt.-->
<!--Copyright (c) 2023 I-NET Business Solutions, Inc. All Rights Reserved.-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
  <link:roleRef xlink:type="simple" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" />
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
  <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
  <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address Address Line 1</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address Address Line 2</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address City Or Town</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address State Or Province</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
    <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>6
<FILENAME>inuvo-20231110_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--XBRL Document Created with XBRLMaster-->
<!--Version: 2.3.08-->
<!--Based on XBRL 2.1-->
<!--Date of creation: 11/09/2023-->
<!--Software architectural design and coding: A'c Dharmapremananda Avt.-->
<!--Copyright (c) 2023 I-NET Business Solutions, Inc. All Rights Reserved.-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef  roleURI="http://inuvo.com/role/Cover" xlink:href="inuvo-20231110.xsd#Cover" xlink:type="simple" />
  <link:calculationLink xlink:type="extended" xlink:role="http://inuvo.com/role/Cover" xlink:title="00000001 - Document - Document and Entity Information" />
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>7
<FILENAME>inuvo-20231110_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--XBRL Document Created with XBRLMaster-->
<!--Version: 2.3.08-->
<!--Based on XBRL 2.1-->
<!--Date of creation: 11/09/2023-->
<!--Software architectural design and coding: A'c Dharmapremananda Avt.-->
<!--Copyright (c) 2023 I-NET Business Solutions, Inc. All Rights Reserved.-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://inuvo.com/role/Cover" xlink:href="inuvo-20231110.xsd#Cover" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://inuvo.com/role/Cover" xlink:title="00000001 - Document - Cover Page Information">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
    <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
    <link:presentationArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
    <link:presentationArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
    <link:presentationArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
    <link:presentationArc order="4" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
    <link:presentationArc order="5" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
    <link:presentationArc order="6" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
    <link:presentationArc order="7" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
    <link:presentationArc order="8" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
    <link:presentationArc order="9" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
    <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
    <link:presentationArc order="11" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
    <link:presentationArc order="12" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
    <link:presentationArc order="13" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
    <link:presentationArc order="14" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
    <link:presentationArc order="15" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
    <link:presentationArc order="16" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
    <link:presentationArc order="17" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
    <link:presentationArc order="18" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
    <link:presentationArc order="19" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>8
<FILENAME>inuvo-20231110_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!--XBRL Document Created with XBRLMaster-->
<!--Version: 2.3.08-->
<!--Based on XBRL 2.1-->
<!--Date of creation: 11/09/2023-->
<!--Software architectural design and coding: A'c Dharmapremananda Avt.-->
<!--Copyright (c) 2023 I-NET Business Solutions, Inc. All Rights Reserved.-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef  roleURI="http://inuvo.com/role/Cover" xlink:href="inuvo-20231110.xsd#Cover" xlink:type="simple" />
  <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
  <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
  <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
  <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
  <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
  <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
  <link:definitionLink xlink:type="extended" xlink:role="http://inuvo.com/role/Cover" xlink:title="00000001 - Document - Cover Page Information">
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_CoverAbstract" xlink:label="loc_deiCover" />
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>inuvo_ex992img10.jpg
<TEXT>
begin 644 inuvo_ex992img10.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  4$! 0$ P4$! 0&!04&" T(" <'
M"! +# D-$Q 4$Q(0$A(4%QT9%!8<%A(2&B,:'!X?(2$A%!DD)R0@)AT@(2#_
MVP!# 04&!@@'" \(" \@%1(5(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @("#_P  1"  O '@# 2(  A$! Q$!_\0
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M\ >'?$'PJNO%NH6\QU?1[$"TE29E"9()RHX-9W[5O_'GX"_[#D?]*[SX[?\
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M5^A84* ,  = .U1&&$S"0PH9!T;:,C\: (=/L;?2]*M--LUV6]I$D,:CLJ@
M?H*^?/BQ\/\ Q5X9^(:?&3X9PFYU)5":GIB@G[4G0D =>!S]*^D** /FFU_:
MX\,1V)76O"^L66J(,/;+"6 ;TS7'3P>,_P!I#Q3::KK^E7&@?#W1V^T"%U(>
MZ(ZX]2>GL*^M)M'T:XN!)<:7:2SCH[PJ3^>*O+'&L?EJBJG3:!Q0!G:+<6MQ
CHUN;&(16T:^5&B] %X&/;BBM"...)%CB4(B\!5& ** /_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>inuvo_ex991img5.jpg
<TEXT>
begin 644 inuvo_ex991img5.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  4$! 0$ P4$! 0&!04&" T(" <'
M"! +# D-$Q 4$Q(0$A(4%QT9%!8<%A(2&B,:'!X?(2$A%!DD)R0@)AT@(2#_
MVP!# 04&!@@'" \(" \@%1(5(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @("#_P  1"  O '@# 2(  A$! Q$!_\0
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M\ >'?$'PJNO%NH6\QU?1[$"TE29E"9()RHX-9W[5O_'GX"_[#D?]*[SX[?\
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D;C1K<V,0BMHU\J-%Z +P,>W%%7XXXXD6.)0B+P%48 HH __9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.23.3</span><table class="report" border="0" cellspacing="2" id="idm140683893340768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Nov. 10, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Inuvo, Inc.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000829323<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Nov. 10,  2023<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-32442<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">NV<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">87-0450450<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address Address Line 1</a></td>
<td class="text">500 President Clinton Ave.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address Address Line 2</a></td>
<td class="text">Ste. 300<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address City Or Town</a></td>
<td class="text">Little Rock<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address State Or Province</a></td>
<td class="text">AR<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address Postal Zip Code</a></td>
<td class="text">72201<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">501<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">205-8508<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>inuvo_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2023"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="inuvo-20231110.xsd" xlink:type="simple"/>
    <context id="From2023-11-10to2023-11-10">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000829323</identifier>
        </entity>
        <period>
            <startDate>2023-11-10</startDate>
            <endDate>2023-11-10</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:EntityCentralIndexKey contextRef="From2023-11-10to2023-11-10">0000829323</dei:EntityCentralIndexKey>
    <dei:AmendmentFlag contextRef="From2023-11-10to2023-11-10">false</dei:AmendmentFlag>
    <dei:DocumentType contextRef="From2023-11-10to2023-11-10">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="From2023-11-10to2023-11-10">2023-11-10</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="From2023-11-10to2023-11-10">Inuvo, Inc.</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="From2023-11-10to2023-11-10">NV</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="From2023-11-10to2023-11-10">001-32442</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="From2023-11-10to2023-11-10">87-0450450</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2023-11-10to2023-11-10">500 President Clinton Ave.</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2 contextRef="From2023-11-10to2023-11-10">Ste. 300</dei:EntityAddressAddressLine2>
    <dei:EntityAddressCityOrTown contextRef="From2023-11-10to2023-11-10">Little Rock</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="From2023-11-10to2023-11-10">AR</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="From2023-11-10to2023-11-10">72201</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2023-11-10to2023-11-10">501</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2023-11-10to2023-11-10">205-8508</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="From2023-11-10to2023-11-10">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="From2023-11-10to2023-11-10">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="From2023-11-10to2023-11-10">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="From2023-11-10to2023-11-10">false</dei:PreCommencementIssuerTenderOffer>
    <dei:EntityEmergingGrowthCompany contextRef="From2023-11-10to2023-11-10">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>13
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M?!^2!F.,6_0T7X\48JVFL:W&VC$,>8!8\PRA9CC?AT6:&C/5BZPYC0IO0=5
MY3_;U UH]@TT')$%7C&9MC:CY$X*/-S^[PVPPL2.X>V+OP%02P,$%     @
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M/D$U$C;BX7J]("!SD!"NN60*KRVT=K+CF+&&M=^'%QE^(RYMQ,7UEI9?DTZ
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MTG1X#SY['R73>RHY_U=3_ 102P,$%     @ )S)M5Y>*NQS     $P(   L
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MU!Y:YU;*O8=7LN48<?R>Y0]02P,$%     @ )S)M5R0>FZ*M    ^ $  !H
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M_0QI-^2!8ECFS_A[QA?_&\[Q$<+NOS^QO-9.&G_FB^$_7G\!4$L! A0#%
M  @ )S)M5P=!36*!    L0   !               ( !     &1O8U!R;W!S
M+V%P<"YX;6Q02P$"% ,4    "  G,FU78D$,=NT    K @  $0
M    @ &O    9&]C4')O<',O8V]R92YX;6Q02P$"% ,4    "  G,FU7F5R<
M(Q &  "<)P  $P              @ '+ 0  >&PO=&AE;64O=&AE;64Q+GAM
M;%!+ 0(4 Q0    ( "<R;5<O3,MEY ,  #L/   8              " @0P(
M  !X;"]W;W)K<VAE971S+W-H965T,2YX;6Q02P$"% ,4    "  G,FU7GZ ;
M\+$"  #B#   #0              @ $F#   >&PO<W1Y;&5S+GAM;%!+ 0(4
M Q0    ( "<R;5>7BKL<P    !,"   +              "  0(/  !?<F5L
M<R\N<F5L<U!+ 0(4 Q0    ( "<R;5>JQ"(6,P$  "("   /
M  "  >L/  !X;"]W;W)K8F]O:RYX;6Q02P$"% ,4    "  G,FU7)!Z;HJT
M  #X 0  &@              @ %+$0  >&PO7W)E;',O=V]R:V)O;VLN>&UL
M+G)E;'-02P$"% ,4    "  G,FU799!YDAD!  #/ P  $P
M@ $P$@  6T-O;G1E;G1?5'EP97-=+GAM;%!+!08     "0 ) #X"  !Z$P
"   !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.23.3</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>20</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="inuvo_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://inuvo.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>inuvo-20231110.xsd</File>
    <File>inuvo-20231110_cal.xml</File>
    <File>inuvo-20231110_def.xml</File>
    <File>inuvo-20231110_lab.xml</File>
    <File>inuvo-20231110_pre.xml</File>
    <File doctype="8-K" isOnlyDei="true" isUsgaap="true" original="inuvo_8k.htm">inuvo_8k.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="20">http://xbrl.sec.gov/dei/2023</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>18
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "inuvo_8k.htm": {
   "nsprefix": "inuvo",
   "nsuri": "http://inuvo.com/20231110",
   "dts": {
    "schema": {
     "local": [
      "inuvo-20231110.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-2023.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-roles-2023.xsd",
      "https://xbrl.fasb.org/srt/2023/elts/srt-types-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-gaap-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-roles-2023.xsd",
      "https://xbrl.fasb.org/us-gaap/2023/elts/us-types-2023.xsd",
      "https://xbrl.sec.gov/country/2023/country-2023.xsd",
      "https://xbrl.sec.gov/currency/2023/currency-2023.xsd",
      "https://xbrl.sec.gov/dei/2023/dei-2023.xsd",
      "https://xbrl.sec.gov/exch/2023/exch-2023.xsd",
      "https://xbrl.sec.gov/naics/2023/naics-2023.xsd",
      "https://xbrl.sec.gov/sic/2023/sic-2023.xsd",
      "https://xbrl.sec.gov/stpr/2023/stpr-2023.xsd"
     ]
    },
    "calculationLink": {
     "local": [
      "inuvo-20231110_cal.xml"
     ]
    },
    "definitionLink": {
     "local": [
      "inuvo-20231110_def.xml"
     ]
    },
    "labelLink": {
     "local": [
      "inuvo-20231110_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "inuvo-20231110_pre.xml"
     ]
    },
    "inline": {
     "local": [
      "inuvo_8k.htm"
     ]
    }
   },
   "keyStandard": 20,
   "keyCustom": 0,
   "axisStandard": 0,
   "axisCustom": 0,
   "memberStandard": 0,
   "memberCustom": 0,
   "hidden": {
    "total": 2,
    "http://xbrl.sec.gov/dei/2023": 2
   },
   "contextCount": 1,
   "entityCount": 1,
   "segmentCount": 0,
   "elementCount": 21,
   "unitCount": 3,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/dei/2023": 20
   },
   "report": {
    "R1": {
     "role": "http://inuvo.com/role/Cover",
     "longName": "000001 - Document - Cover",
     "shortName": "Cover",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "From2023-11-10to2023-11-10",
      "name": "dei:EntityRegistrantName",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "strong",
       "p",
       "td",
       "tr",
       "tbody",
       "table",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "inuvo_8k.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "From2023-11-10to2023-11-10",
      "name": "dei:EntityRegistrantName",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "strong",
       "p",
       "td",
       "tr",
       "tbody",
       "table",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "inuvo_8k.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_EntityAddressCityOrTown": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressCityOrTown",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address City Or Town",
        "documentation": "Name of the City or Town"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityTaxIdentificationNumber": {
     "xbrltype": "employerIdItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityTaxIdentificationNumber",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Tax Identification Number",
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_EntityFileNumber": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityFileNumber",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity File Number",
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine2": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine2",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address Address Line 2",
        "documentation": "Address Line 2 such as Street or Suite number"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressStateOrProvince": {
     "xbrltype": "stateOrProvinceItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressStateOrProvince",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address State Or Province",
        "documentation": "Name of the state or province."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine1": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressAddressLine1",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address Address Line 1",
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name"
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentType",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_PreCommencementTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementTenderOffer",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre Commencement Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityEmergingGrowthCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityEmergingGrowthCompany",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Emerging Growth Company",
        "documentation": "Indicate if registrant meets the emerging growth company criteria."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_WrittenCommunications": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "WrittenCommunications",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Written Communications",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_EntityAddressPostalZipCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityAddressPostalZipCode",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address Postal Zip Code",
        "documentation": "Code for the postal or zip code"
       }
      }
     },
     "auth_ref": []
    },
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityIncorporationStateCountryCode": {
     "xbrltype": "edgarStateCountryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "EntityIncorporationStateCountryCode",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Incorporation State Country Code",
        "documentation": "Two-character EDGAR code representing the state or country of incorporation."
       }
      }
     },
     "auth_ref": []
    },
    "dei_SolicitingMaterial": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "SolicitingMaterial",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Soliciting Material",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_LocalPhoneNumber": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "LocalPhoneNumber",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Local Phone Number",
        "documentation": "Local phone number for entity."
       }
      }
     },
     "auth_ref": []
    },
    "dei_CityAreaCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CityAreaCode",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "City Area Code",
        "documentation": "Area code of city"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CoverAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "CoverAbstract",
     "lang": {
      "en-us": {
       "role": {
        "label": "Cover [Abstract]",
        "documentation": "Cover page."
       }
      }
     },
     "auth_ref": []
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2023",
     "localname": "PreCommencementIssuerTenderOffer",
     "presentation": [
      "http://inuvo.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre Commencement Issuer Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Section": "14a",
   "Number": "240",
   "Subsection": "12"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "425"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>19
<FILENAME>0001654954-23-014053-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001654954-23-014053-xbrl.zip
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MRGP(9MM5JVH5$@-6$QO99H!_7SL?0!([84:[25Z&$)]S?:[OT8V3#%?O=F$
M+XAQ3,FUU>U<6("(1WU,EM?6AMLN]S"V@ N7^&Y ";JV]HA;[VZ^_^[J!]O^
M?#N=P'OJ;4)$!(P8<@7R88O%"M30O<L%8K:=H/^,YQE KW/9N?C]</[6Y9)%
M2<21@]W#R'L9#^@"/!4YHG:[SD7?Z5WT+@^@&5V(K<L0N,Q;88$\L6%N #[B
M>$E "H<XH0$,?_+@_<IEH;MF*'2)2@J&+Z)SB#6BZSW#RY6 G[U?0$T#8_OA
M[AEN-QP3Q#G,:+!14OBO,"9>!X9! %/%X#!%'+$7Y"?A DS^&Z@_<YD?R(4F
M?+#C^-I:";$>.,YVN^UL+SN4+64^%UWG\_UDYJVD+AL3M> >LE*6BJ+C=?O]
MOA.-IM "<C=G03K'I9/*D7".!SR:;D*]:''/H($1H;[9*<Q6I^QNS[[L=G;<
MM^1J ,3KP6B IF@!D>B!V*^EHS@.UX&2%)U;,;302PD8<Q3?(6BIC*:FZ:MI
MNK^I:7Y,3D_<.0HL4,A/T[$QJWXF5D)RSI3ZNN!/B&'JWY%TEJ^4:#[LN>*_
MZO0SX3+QIB4O\FM.X)D*-WB3]%-FS:(?T-M6^\BK>Y5EUT=O6^43YC<0+8J"
M7[VTNC4-U*F)/,H(1#N!B(_\5*(*4-)QH_A18X\B'V)3+Q,U4+V;LF+>7$:-
M(G+D=9;TQ?$1CBZ;ZL!6!U'*\LN7$94;@.&<"^9Z(HT4)7%M:<:=K""%&[)4
ME;P$5R26(!R/R@O<6MC!:4M<,!IJ)TURIIK!+\'\P(\714ZAE9D!,<3IAGGH
M5?4XU6I:H41/&$B$VD4A8G^:63<1!OY)4?]>.<<HW[S$=T1@L9^B)5:S$_'@
MADB3AQY63\'+)*9UUV%:4/X267D7Q% X8D&!&_#"2&[8Y2YY+%O2[@^T-V95
MP-7I!H/(K!URH-;X0:_+8(@$#!$:)+Q62Z1W<,\RHB:?[' ]!M!)2NM^.M:"
M<FODY*M\N$56F%I+.Y33^FKJ#X&[U(C/C==37*VHM+J9P1:45Z<G7]\#!A2H
M@79^%R*VQ&3YD=&M6(UHN':)N:D;T'6V]E+!V0:OA;; &-7J#,T^I4#,@834
M2,L_/$-0C]I*FEL.5^]%0"LR?S7(@%I@CS)=QNM## :)!@5OH)-\P %ZV(1S
MQ(R6/X74V3.*TK*-XCC>@O(;)!E:@L)!#&R@YF/B4;:F+'H,/!/2>".ZD1O2
M_8CZYOO$"E:=SC@K@:Q92BFM\<\Y*@V6RE AXD)"!L5NP&?/[F[LRS:'%SA^
MY5#1:(SX.KU5(3KK*@.X-7XJUV=PDB1!EM5<JQKZOEP5GGQ,,$%=8[):;)W6
M*1&;M8T&V!K+F+49[)(@#Y^* MU6>*7WBBQ[37NE=ZY7>BWV2N\-7NDUYY61
M/'QDSW1+JG(\13;@DZ)0K4N.L+9YI*"LPB$*#X\,%*,Y?T3;J$?VQ.@+)IYY
M;VR"-^ 4@V2M77+8MGE&+Z_"./'.5SHGI37GGB?*A1O\C=>E]U5Z< /.T<K5
M^B:#;)MK=.(J/!-30'+JOU52C6[(D&OP2':XII?Q&DF'=_$G8RVHO$9.X4U\
M5&F)J;^V?S$L!"(C&H8;DMQ+<4T6!EP]U2X5F99="VI!_<MTY8V08"$+KM40
M,QI@#PM,EO?R*L6PJ\M)!ZK'"F9YJ0^*B!:8P"@J[X C$%)DK>5_8DB9#\DB
M1&^0U7^(L<?%0OM,K Q<CQVJY::V,"-;8(]*<7F;2 *<,B"F0,1ITC!CSC>(
MO<HV&DHCYC%*-UBH@&^?D4P2*^T4$YMSE?H%0/"THL3\YJ\(J<<U)FFI2_+C
M+7"%05+>!1$,(ISI<?KIB8D\4K\J24[A^)<6-_\#4$L#!!0    ( "<R;5>8
M/#G.2@0  &\@   6    :6YU=F\M,C R,S$Q,3!?<')E+GAM;,V96X_B-A3'
MWROU.[CTH:W4$ *]+&C8%</,KE#G@F#:KOJR,LDA6.O8R#:W;]_C<%D8DN!]
M*"X/W/(_]OG_CF-RR,V[=<;)$I1F4G1K4;U1(R!BF3"1=FL+'5 =,U8CVE"1
M4"X%=&L;T+5W;[_]YN:[(/AX.WH@=S)>9" ,Z2N@!A*R8F9&[*%'J@VH(-BI
M_]K.TR'->JO>>'/X_I9JC)(BC\&#T>'('8Y'Y)3$=N0\-(K"1CML-IJM@V@L
MIV9%%1"JXADS$)N%HIPDH%DJ""9.MH8ZI/=#3.YF5&5TKB"CPIHBO:6I'\;J
MR_E&L71FR(_Q3\1.0P;!T_T+N5UH)D!K,I9\85/1/Y.!B.NDQSD9V0A-1J!!
M+2'9#<>9^-RQ3Q/T1Q"TT)VU9MW:S)AY)PQ7JU5]U:I+E:*?1A1^?'P8QS/,
M*V#" H^AMH^RHQ3%1>UV.\R/[J5GRO5$\?T<K7"?#LHUZ^A\N@<9YW =PDBI
MPGX*]K+ ?A5$S: 5U=<ZJ2$-0K8\E.0P@BFQKW^.!H<YF5@L93V666B/A'V)
MBQ*3S&-F"J;=6JX(;$FB*&K8<;\_49G-'%>G9MF<H[WP:$XLML;UF9M\P"].
M F!M0"20[(>QTSME99BQRL;V$9'@RXD0D%Q)AC0%7"53B2O.3KX%L4^+R_@D
M$V[K(%^YMHEHS"2GK2&NIW(9)L#R4\"^R8GD-/##IWS>WD0;16.S'XG3"?!\
M_$^H>24)__.<[@6BVHP@979.89YH!L6I%2M/,SPN9D_%1*H$%)9A/R)N B<E
M/%^J.T4XQSU#F #W#'ZH_E3)K(S4CHN\D.XQ/ISJ>H3[Z 8WO@&NYO4?L*E"
M?"9U8AQY8UQB[:J0]V?W"XY8S/94X82TZ0%ID9&KDNSA[(G-X#VG:3'*5Q(G
MEBT/+ NM>#CW[S-0*5[C?%!R969]F<VIJ-P!2@*<0/_B;1^HM.EE-QB"8C*Y
M%XF]5*W>%EY)G5#_ZG%_*+3F86V_9QR>%MGDRZ57T8(^5CFA_<W;*CXWY($J
M-B]2S:7*L8R1#O3E G]E-WV95%Z>70AT8O^[-_9.MCV4XX6N!PD:9%.V[<8N
MK_C2$*<2O/%6@@M6/<#O)0E"TKL7;!$AJ@)?*'>"WO8&O<+B_P)X\^N -UU;
M%G]]885'?\3[^/99O<B5<.!]+':C[:]#+/7GCW7^Z_*LADHNV?;/O$O SR+<
MJ/MH(EV<^D,_E-I0_@^;7[J8*=:[8??1;UYV>57H]G3K*:#EF$\5;F!]])=%
M3JZ*\F_%C &!/6VV$+L+(UW,M$3J!M='1UGI[:J4QY*SF!DFTD?<LA2CO!AQ
MD<Z-KX^VLMS55>$.%=@2 _X$Y/\OVOLJZGDZ+6MCJO1NL'WTD9==^H0^T'H!
MZFO1%T2Y%<!'%^GJ^*IEL#=1^7 F1>5?5><J-\P^^L8R1V=8;\*SW+';^6QO
M@6^/V"=[6_CMOU!+ P04    "  G,FU7BSQ[X,X.  " :P  #    &EN=79O
M7SAK+FAT;>T=_7/:N/)?T:-SEW0FQAB2-B$)-Y20'J\)Y &]Z[M?;H0M@J[&
M\DER N^O?[NR#>8K(6G(UX7I3#"2=E>K_9;D'OTR&OKDBDG%17"<<_*%'&&!
M*SP>7![G(MVW]G._5(X&&GI!ST"5^>@X-] Z+-OV]?5U?M23?E[(2[M8<$HV
M#WP>L&^?VF>Y27>]O/^TJZTE#51?R"'50 5"VK,*1:OX(0/$4LR= 03/^4MQ
M=2N<?:ODI'#<2$J8W7@"R%"30DI;86"QE R907E=,I0[!P<']@A9DL(=*;ZL
M8[%0<.QOYV<==\"&U.*!TC1PV604$/Y]-0)L3;LN],RPO5"RL;E'U10RM/(;
M^B]0 JV>GN5*TGG/CAMGNO*E73_$77G:U6-\.:.A(<OC<A -EQ/K:6GK<<AL
MZ,$D=R<#1+#&&!%8<^,DZZ_DR@<;6B<"I\1NT?EX$POC'NF 2%E2^&PJ+WVJ
M>J9WVC(S8U=$@9:KY#!NG!D0:;F2F ,;6M..2FH+I[^$DDG3#&3@U]R Y>R$
M,06KX%A%)X-J*9)9PI5U26FXE"_8,-.9!]&5F'0U3WE7#$T?QW$*.;!$C'J5
M(\VUSRJFPY_[W_.@BT=V_-O1ORSK1+BP[H$F-<FH9A[IC0D:B'.J-).653D:
M,DT)HK'8WQ&_.L[51*!AA-6%J>:(&S\=YS0;:3O6=+MR9,?(>\(;$Z7'/HL[
M6-3GET'99WU]V(>19:<0:J+YD"D2L&LBQ9 &0+K'KY)A6QY7H4_'*,CL<&T8
MAUN$>\=;.)63QF];E2,^*B-)3,9?N>>QP'P%N,U8]$E AT GJ%RY'@"+QC68
MF*1^(_#8Z L;)Y,=Z3;JQBG@069;CF,Y!2VFWW.5 GSVBP>E8NG(GD&Q&F,5
M5L'#E3CUZ>7:F$ALPH]S8/;+/0'*0X,^]<&\5<R?!?3V[.1!CQD:<J8J1V@9
MR\K87T!+C%$MHSP?;RD^#'VVE?PV0-NP923*2L4M/U(><-F>!1+CRR(QCTI$
MTCP9XUM.YHH+=B-7D^[,K$WZQ#U\[G,FB4'+EGJ^6N/+[*K,#ZZD/\U"#X%K
MPDN?P!-(?0)J4IF2E8Z;MDW(]%9T35O2YQ2)/<..%$X4\)@U7SLG$QX,&561
M!+6.36L9VM+A:5/ZC.,78'4&%)9A 5PR%=-X)WB _V(.)J@PL#?;TP@AU4+>
M<Q8+X_''$Q:((0^6@5UW-C,@[%GJ9R9MSTJOG;$I-@P 6TM[/DOM'=HF2_'_
ML;(3C@ZON:<'8*H*/P&'--I%^ ,#M9?V_]1JG]3;UJ=6M]LZ+Y.]<$24\+EW
M" -LC?)A^M\TIKA\C)W@LPU]E:-P"8E@0XTUM?ITR/UQ>=Z>#JF\Y$&Y$(YR
ME9_?.1\*AT=VF %UVFIVK4[CCWJ9&%C$_'!:/6^<_;>\8)W)>;7]N=$L$X!W
M2#)6W07]8Q+)5UJ*X++RM=GHUD](IUOMUCM'=O+KX^#NU&M?VXUNH]XAU>8)
MJ7^K_5IM?JZ36NO\O-'I-%K-1R;H=ZH&D&UH$>R0DQHI%O9V#S9+@O&RC[OB
M1RJDP1()W0]UKG+::I^3E4XTC68RH<D:WGK?^K+H)Y&(RJOC+<ASN][LDG;]
MHM7NOKKI7412112B62U(A[F8VA*G1(0DSMZV]YZ(/M$#ADV1Y)H#EOK('=#@
MDI&JJ['9.2CMOAJV8)2!DVJS4$A-MM-G1L&G,:4)N\+07YIF!OQ9JH(&LL=<
M(4VM 'PA>#PL).161[.I(EZ8T*8>!SSWBVH]&#F$<0./CL= .8/\H"FNV+ '
M(9]3V"$X\)GH[XS_[PD)C+* $!=L=KEP..=M,Y#^BA2$H>/$R5H(N$PC+=(?
M)+\<)+_$<<3NWD_ 3>;[(?7B^E,A&U:D) R8&>CLH==>'3:\*Y@/<2;A0XSE
MH/#3X163FKO43RC5(D1]>UHG<$O:UF:77&&!2S>A97T_T,",9H<T C>_ECQE
M@[+;./YD#-VNCRB8-N01JKZ<\(90153(7$Q_/,(#PK4B8 S!$LCW<_-;&4"^
M?$W:?Q1-*CVA)MVL+"#M0H:);>]H,+:UN*96$][]+#:6GS$=UBR4X@KQ&9/-
MKJA'E^C5O$+-Z\S>3S-L^O&490[+BU_!4^XS: -W>)<"E6.5BKN[Q;<%>?@%
MZ=)1(RDLN4:M[KHZ^Q^MPNX>_EMC>=9T0(_M=HPIP<A;0,0MR5\0<"N/QR'Y
M9J->\'(\:]3>9X5LDX+[V"RNB>&0*[5YCJ*%(;$0OUIF-MH=4A^&OAB#M&Z6
MG;/&@31%_BW>>N!X"_*C9^H<JIXGF5+)GS-(HYWU'<,>3/4"QIE]"U*#)%R#
M %6OV$+"LK.Z2+:*CN+Z='0TRY-28<$]K8NU!E];LBNN@_5QGG&M043;POU^
M7[3&)[7D!82EW&SIKXN[VKY'G.04GD>@].QUX4) MN#_P<,[I1R5C\5BP7FY
M 5(R>4S*0PGBR$/J$S9B;J3Y%>;JX""8>K7^%I:;X'J_,->7V<;[ 2^6)%*/
MEL$8+PR IY6Q+07M/@L'(F D,*'=#H;-?H33(50R"HKH,7)#'G@[^3\FI>L6
MH1.-WUYI;=#=5&%&=[,O>XO6Y?UJ1W,F@ T7R,Z[9GO%PIZUOU?8O\&4)<7'
M)U:4C1F#/]?^/*W"/D'Y-F;_]JF0(!1)%5>::AL\TMB%@.+V2;R-!01C9$-\
MJM)]G:<WL!O"4!LP][O9SZ-A* 4X4:PX],2(])@OKI$IV(BL(_O6%]+G/IHV
MKL#.:0;VP\-M0L6'D:]IP$2D_#%18%Y4?VQ&)@-$#[#&J5JR?Y@IHAL[1&@P
M3MOZP@?D. ZKGQRS<T6V%6/D,PN8!!_?"&!L%%="JOEB/B;W??DY[E$]I/;L
M/WX8NLI8_RXAF6 !%E"B(,G#U?V+W7CPKD=AW8$CQGT=?-S=/5RTYW>.NN[I
M/Y/IP7RR\R-A9G>\'8$0[!;W$@&>VQ7'S?!MYR.IG;9)L53(0\>G-R-O@LO+
M'<CK7%BCX/(<C!U8//_U2.UT;F283&Y19)U=:CG%C-3.'."8R.QN(1_W?!/;
MYR"V%Y*AK<4SP.9X%GI?V>KW[Q F/WOQA3E:;F:2MUI?9]>SBMN]]^L)<]SW
M39R?H3@WE(J8?!-J(]0E9NUNN^L)==+WZ85Z0Q@:@8><8GBIQC79"O#V.[D>
M,+,G.I=*0&)" P)L1O9?DDLIKO4 &1YB>D$5\5B?!_%9G3A\*^PM.=$X/<A8
M(MLXQX^')H1+.W-SRB?$4SZ82L:K5NQ9Q35/1TZ X@I.QV7 YC>S?[;Y94O+
M9/45:W!+.3L=]MF,JL6#'L46O#Q6IQK2OT'FL2"Y5('X0AH^ /5@/G/Q!EL@
MC#F*%#.] &>2[..55V[2[OC&#7+<X/+'B/R: VI<9B0?6B2#]!W&@=+1P,5H
ME+KFOB%VQDNA'I6>BM-\A!\N/7R\32?'CK/:E">3]7S\K/\';Z:LN&5RG]LL
M\Z;^]NAB^6V_'PPT7)\JO-09]@9RRK8[;!YUZ]^Z5J-Y4F]VX]68X\RJ\=.E
MWPKI);-ZDM'O%NV#&2T3ZE_3L=I:?RMKD?)7XTK3(G^C6S\GQ7RAF"?M>N?K
M6;=#6J>D=5%O5[N-5C.^J'/::%:;M4;UC-1:S9,&-N1?Y*'^&;':W5N.M(5'
M2.;.P^,IYLEA9H@L($#U" 5;A3N.$BPE5<9^@@5#:S8U<6 9C1_"(C*:Q_^4
M#+P\J8*E#"=53D9E  .GL,#]]Y@!%4&+&@ Z"'%8;%,QD!CP'M?DX"#OY%_=
M"G2!(SR8O$T! S03$-7,6Q)T>O\"6K 8C;7H-#K&J F")AP$_L0X&./ZD),L
MYIG"S;@%YL8 &IH-C3:8T6H T8)Q?ST&P2)X55/AAH>?W^T7BV _N<\\\]TY
M-*N+2PEN*Q2*F8WHB=O:7SL8Q$X)^&R'!,O[G<D1P&MPID1%O;\ !Y*% WU.
M>]R/P0-$%;D#HF(:=F B,IF2^3W+X.G\IB?]XKOKD[O&N CHS),B_LHRYR14
MSDQDMDLZ%2(6\YD=6"67A?%A>D-K#R,.HV>XF\ T\AET $A+#MN[LS2:N=&$
MS->I&DDD#+&;QS*3!QG ]TY\KE8O,@9H08_8G-4R>@)/$%:[P+3LQ@RT+H&8
M7/E5J= 9%9,FT%C5$]428@V:IEL+5+RHA;K%FW[,%QQPII^_GAD72DY/R$FC
M4SMK=;ZVZ_\XOZDS CM@/LH:P(?8+"E_!*GXNJCM(%(>5VX$DI$9N*4R0@5B
M$_E@Q3/>-,8B(NT+\3VUM"E2E&^7212^Y.PT: /$@^I%R=Q:*S ;4RA7\E!/
M_-(\J[$\HC5UT?O-1A2Q]S/[NJN=@5'^FWSRZV/OW<(2LT>^*@A9%M\]:,@Q
MC3AFW>MSCQ[>0H([>)H#]#33Y,R\T^$<1#A]O<*OC4^-[H9?\O!H,\?[YHF1
M>C33?=]3_ ;2PVS6K'NU^$'.1J=.H"GR-YS#?NICV ^&_83%/A*,V/HUH0W,
M_&7 7,V8PQYUOU]* 6;=<H4O9/F=ZS+6[S\0QXXH,>_(RL5O76.C@P,'7[R6
MJV#]@QS9M/+\V;EZ$A<F$VHG^5@FKEV,>O.S<[W3DO3-YTV(GX\0%R="7'RY
M0IQ,HC9-+VH8I'6,95TFK\_QC,7SW 69\X0]'R0TXP?)LEV2C9W>*-[#1;Z6
M39A_T@GYR<O:&I^;U>[7]OQ;XE[\9MA:N7[VS5?QWOC?$9>F:*76K.7O+-M4
M]R+(65T:X4:X*1[$EPJ2)%\!!= @XI?']!BDNWW,:Q&0R9F3#K@5%&$)QH"C
MD1X("?+G/<N\Z,?T82.9!OAWO )TG"OE-GO>J]'\^EMKAS2:M;FEV7@X<[_[
M<?<D"]]&5HYI6_(JL56)9&E3Y'P:)\3\^$M1;K_K>T\:;663?XM!0#[ER057
M5')U0\I=W$C._22I[H/%HG/<VYE<",(7+BGF+T'[;,.'M_CSUKBD] ^./U\>
MAH5P,JE&$Q27;X]8DB9/6,B]N:0P%^D_B(6_8Z7L<0J[;[6SM]K96^WLK7;V
MSXU==I]R&;.RG*#%_U:F\G]02P,$%     @ )S)M5Z^'GKI_(   F=D!  \
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M+9;*O[#:H,'"-)S B& X$F+F^D( GI]HRC'7?^!8B9C..Q,7GLHL3!HB'EM
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M26< ;Q(FYH%DCD1O6'<E4I>L&SP =?\($O$Y]VV@/.NG8^ /S$M8S+')IXW
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M(OFOVB#0%PX9"7=2F%)7KE1/W9)TW1]\9<6(]J"O&E]OEA?.I4K/(&BY<_E
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MED^I/$33]/Z=(U\W=-C -OC& ":7*>+_&@0C6::8TIV1]2?=W@^Y7\F2L5+
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MV*>?V:Z0R#JD$S_D49L6@7@_+%.3FI]FWG!2?5L OX(N?[_ ]?XU<+T&KM?
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M,"YX<V102P$"% ,4    "  G,FU7]9#,K-D!  ". P  %@
M@ &V!   :6YU=F\M,C R,S$Q,3!?8V%L+GAM;%!+ 0(4 Q0    ( "<R;5=
MV,'AD0(  $<(   6              "  <,&  !I;G5V;RTR,#(S,3$Q,%]D
M968N>&UL4$L! A0#%     @ )S)M5_6"*QJM!0  PC,  !8
M ( !B D  &EN=79O+3(P,C,Q,3$P7VQA8BYX;6Q02P$"% ,4    "  G,FU7
MF#PYSDH$  !O(   %@              @ %I#P  :6YU=F\M,C R,S$Q,3!?
M<')E+GAM;%!+ 0(4 Q0    ( "<R;5>+/'O@S@X  (!K   ,
M  "  ><3  !I;G5V;U\X:RYH=&U02P$"% ,4    "  G,FU7KX>>NG\@  "9
MV0$ #P              @ '?(@  :6YU=F]?97@Y.3$N:'1M4$L! A0#%
M  @ )S)M5Z7W212#&   ;'L   \              ( !BT,  &EN=79O7V5X
=.3DR+FAT;5!+!08     "  (  0"   [7      !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
