Sec Form 13D Filing - TOCQUEVILLE ASSET MANAGEMENT L.P. filing for INUVO INC (INUV) - 2018-07-03

Victor Huwang

Tocqueville Asset Management, LP

40 West 57^th Street, 19^th Floor

New York, New York 10019

Tel: +1 (212) 698-0845

(Name, Address and Telephone Number of Person Authorized to Receive

Notices and Communications)

Inuvo, Inc. (the "Issuer")

Common Stock (the "Shares")

1111 Main Street, Suite 201

Conway, AR 72032

(a-c,f) This Schedule 13D is being filed by Tocqueville Asset Management, LP (the "Reporting Person".)

The Reporting Person is a Delaware limited partnership with its principal business address at 40 West 57^th Street, 19^th Floor, New York, New York 10019.

Tocqueville Management Corporation (“TMC”) is the general partner of the Reporting Person. TMC does not own any Shares in its own accounts. The principal business address of TMC is at 40 West 57^th Street, 19^th Floor, New York, New York 10019.

The Shares reported herein are held in the name of certain client accounts advised by the Reporting Person.

(d) The Reporting Person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e) The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.

As of the date hereof the Reporting Person may be deemed to beneficially own 451,509 Shares.

No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes in the ordinary course of business.

The Reporting Person acquired the Shares of the Issuer for investment purposes. The Reporting Person evaluates the investment in the Shares on a continual basis.

The Reporting Person has no plans or proposals as of the date of this filing which relate to, or would result in, any of the actions enumerated in Item 4 of the instructions to Schedule 13D.

Charles D. Morgan serves as a director of the Issuer and is formerly a related person of the Reporting Person.

(a, b)

As of the date hereof, the Reporting Person may be deemed to be the beneficial owner of 451,509 Shares, constituting 1.6% of the Shares of the Issuer, based upon the 28,797,198 Shares outstanding based on information provided in the Issuer's most recently filed Form 10-Q.

The Reporting Person has the sole power to vote or direct the vote of 451,509 Shares; has the shared power to vote or direct the vote of 0 Shares; has sole power to dispose or direct the disposition of 451,509 Shares; and has shared power to dispose or direct the disposition of 0 Shares.

The Reporting Person disclaims beneficial ownership in the Shares reported herein except to the extent of its pecuniary interest therein.

(c)

The Reporting Person has not purchased or sold any other Shares in the past 60 days. However, as described in the Form 4 filed by the Reporting Person in the Issuer on June 29, 2018, and which is incorporated herein by reference, 307,998 and 1,871,031 Shares are no longer beneficially owned by the Reporting Person as of June 25 and 26, 2018, respec tively, including Shares held in the account of Charles D. Morgan, a Director of the Issuer and formerly a related person of the Reporting Person.

(e) As of June 26, 2018, the Reporting Person no longer owns more than 5% of the total outstanding shares of Common Stock. Consequently, the Reporting Person is no longer considered a Reporting Person for purposes of this Schedule 13D.

Not Applicable.

Not Applicable. 

Tocqueville Asset Management, LP

By: /s/ Victor Huwang

Compliance Officer