<SEC-DOCUMENT>0001792549-24-000010.txt : 20240321
<SEC-HEADER>0001792549-24-000010.hdr.sgml : 20240321
<ACCEPTANCE-DATETIME>20240321124631
ACCESSION NUMBER:		0001792549-24-000010
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240314
FILED AS OF DATE:		20240321
DATE AS OF CHANGE:		20240321

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			McBirney Collin
		CENTRAL INDEX KEY:			0001792547
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10185
		FILM NUMBER:		24770371

	MAIL ADDRESS:	
		STREET 1:		544 EUCLID STREET
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Topline Capital Management, LLC
		CENTRAL INDEX KEY:			0001792549
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10185
		FILM NUMBER:		24770372

	BUSINESS ADDRESS:	
		STREET 1:		544 EUCLID STREET
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90402
		BUSINESS PHONE:		310.804.0737

	MAIL ADDRESS:	
		STREET 1:		544 EUCLID STREET
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90402

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ISSUER DIRECT CORP
		CENTRAL INDEX KEY:			0000843006
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				261331503
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1 GLENWOOD AVE.
		STREET 2:		SUITE 1001
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27603
		BUSINESS PHONE:		9194611600

	MAIL ADDRESS:	
		STREET 1:		1 GLENWOOD AVE.
		STREET 2:		SUITE 1001
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27603

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DOCUCON INC
		DATE OF NAME CHANGE:	20071002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DOCUCON INCORPORATED
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2024-03-14</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000843006</issuerCik>
        <issuerName>ISSUER DIRECT CORP</issuerName>
        <issuerTradingSymbol>ISDR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001792549</rptOwnerCik>
            <rptOwnerName>Topline Capital Management, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>544 EUCLID STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>See Explanation in Footnotes</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001792547</rptOwnerCik>
            <rptOwnerName>McBirney Collin</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>544 EUCLID STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SANTA MONICA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>See Explanation in Footnotes</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>545553</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Topline Capital Partners, LP</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reporting persons are (i) Topline Capital Management, LLC, an exempt reporting adviser (&quot;TCM&quot;), and (ii)Collin McBirney, TCM's managing member.</footnote>
        <footnote id="F2">Each reporting person may be deemed to beneficially own more than 10% of the issuer's outstanding shares of common stock. Each reporting person disclaims beneficial ownership of the shares of common stock reported herein except to the extent of its or his pecuniary interest therein, and this report shall not be deemed to be an admission that any reporting person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F3">The 545,553 shares of common stock reported in Table I on this Form 3 are beneficially owned by Topline Capital Partners, LP, a Delaware limited partnership (the &quot;Fund&quot;). As a greater than 10% beneficial owner, the Fund is separately reporting its holdings in the issuer's securities on a Form 3 filed concurrently herewith. Each of TCM, as the investment manager and general partner of the Fund, and Mr. McBirney, as managing member of TCM, may be deemed to be the beneficial owner of the shares of common stock beneficially owned by the Fund.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Topline Capital Management, LLC,  By: Collin McBirney, its Managing Member</signatureName>
        <signatureDate>2024-03-21</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Collin McBirney</signatureName>
        <signatureDate>2024-03-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
