# EDGAR Filing Document

**Accession Number:** 0000829323
**File Stem:** 0001654954-25-006575
**Filing Date:** 2025-6
**Character Count:** 25583
**Document Hash:** 797d213ad8dcd743d1ad09cea02ae70b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001654954-25-006575.hdr.sgml**: 20250604

**ACCESSION NUMBER**: 0001654954-25-006575

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20250604

**DATE AS OF CHANGE**: 20250604

**EFFECTIVENESS DATE**: 20250604

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Inuvo, Inc.
- **CENTRAL INDEX KEY:** 0000829323
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-ADVERTISING [7310]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 870450450
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-287769
- **FILM NUMBER:** 251023179

**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

As filed with the Securities and Exchange Commission on June 4, 2025

Registration No.: 333-

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

![](inuv_s8img15.jpg)

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

---

| |
|:---|
| **INUVO, INC.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | |
|:---|:---|
| **Nevada** | **87-0450450** |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

---

---

| | |
|:---|:---|
| **500 President Clinton Avenue, Suite 300, Little Rock, AR** | **72201** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of Principal Executive Offices) | (Zip Code) |

---

---

| |
|:---|
| **Inuvo, Inc.**<br> **<u>2025 Omnibus Incentive Compensation Plan</u>** |
| (Full title of the plan) |

---

---

| |
|:---|
| **Wallace D. Ruiz**<br> **Chief Financial Officer**<br> **Inuvo, Inc.**<br> **500 President Clinton Avenue, Suite 300**<br> **<u>Little Rock, AR 72201</u>** |
| (Name and address of agent for service) |

---

---

| |
|:---|
| **<u>(501) 205-8508</u>** |
| (Telephone number, including area code, of agent for service) |

---

**Copies of Correspondence to:**

**Jeremy D. Siegfried, Esq.**

**Porter, Wright, Morris & Arthur LLP**

**41 South High Street**

**Columbus, Ohio 43215**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**Part I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The document(s) containing the information concerning the Inuvo, Inc. 2025 Omnibus Incentive Plan (the "Plan") specified in Part I will be sent or given to Plan participants as specified by Rule 428(b)(1). Such documents are not filed as part of this registration statement in accordance with the Note to Part I of Form S-8.

**Part II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT.**

**Item 3. Incorporation of Documents by Reference.**

The Securities and Exchange Commission allows us to "incorporate by reference" the information we file with them, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this prospectus, and later information filed with the Securities and Exchange Commission will update and supersede this information. We incorporate by reference the documents listed below that we have previously filed with the SEC, except that information furnished under Item 2.02 or Item 7.01 of our Current Reports on Form 8-K or any other filing where we indicate that such information is being furnished and not "filed" under the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), is not deemed to be filed and not incorporated by reference herein:

· Our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (filed on February 27, 2025);

· Our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025 (filed on May 9, 2025);

· Our Current Reports on Form 8-K filed on February 27, 2025 and May 28, 2025; and

· The description of the our common stock that is contained in our registration statement on Form 8-A, filed with the Securities and Exchange Commission on February 28, 2005, as amended on February 29, 2008 (File No. 1-32442) under the Exchange Act, including any amendment or report filed for the purpose of updating such description.

Except to the extent that information is deemed furnished and not filed pursuant to securities laws and regulations, all documents filed by the registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act and all reports on Form 8-K subsequent to the date hereof and prior to the filing of a post-effective amendment that indicates that all securities offered have been sold or that deregisters all securities then remaining unsold shall also be deemed to be incorporated by reference herein and to be a part hereof from the dates of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.**

Not appliable.

**Item 5. Interests of Named Experts and Counsel**

Not applicable.

**Item 6. Indemnification of Directors and Officers.**

Under our Amended and Restated Articles of Incorporation, as amended, our directors are not liable for monetary damages for breach of fiduciary duty, except in connection with:

· a breach of the director's duty of loyalty to us or our stockholders;

· acts or omissions not in good faith or which involve intentional misconduct, fraud or a knowing violation of law;

· a transaction from which our director received an improper benefit; or

· an act or omission for which the liability of a director is expressly provided under Nevada law.

In addition, our Amended and Restated By-Laws provide that we must indemnify our officers and directors to the fullest extent permitted by Nevada law for all expenses incurred in the settlement of any actions against such persons in connection with their having served as officers or directors.

Insofar as the limitation of, or indemnification for, liabilities arising under the Securities Act of 1933 may be permitted to directors, officers, or persons controlling us pursuant to the foregoing, or otherwise, we have been advised that, in the opinion of the Securities and Exchange Commission, such limitation or indemnification is against public policy as expressed in the Securities Act of 1933 and is, therefore, unenforceable.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** |
| **No.** | **Exhibit Description** | **Form** | **Date Filed** | **Number** |
| [4.1](http://www.sec.gov/Archives/edgar/data/829323/000082932304000014/cgi10ksb2003.txt) | [Articles of Incorporation, as amended](http://www.sec.gov/Archives/edgar/data/829323/000082932304000014/cgi10ksb2003.txt) | 10-KSB | 3/1/04 | 4 |
| [4.2](http://www.sec.gov/Archives/edgar/data/829323/000110465906021360/a06-8019_1ex3d2.htm) | [Amended to Articles of Incorporation filed March 14, 2005](http://www.sec.gov/Archives/edgar/data/829323/000110465906021360/a06-8019_1ex3d2.htm) | 10-KSB | 3/31/06 | 3.2 |
| [4.3](http://www.sec.gov/Archives/edgar/data/829323/000111650209001136/kowab_ex34.htm) | [Articles of Merger between Inuvo, Inc. and Kowabunga! Inc.](http://www.sec.gov/Archives/edgar/data/829323/000111650209001136/kowab_ex34.htm) | 8-K | 7/24/09 | 3.4 |
| [4.4](http://www.sec.gov/Archives/edgar/data/829323/000135448810003851/inuv_ex3i4.htm) | [Certificate of Change Filed Pursuant to NRS 78.209](http://www.sec.gov/Archives/edgar/data/829323/000135448810003851/inuv_ex3i4.htm) | 8-K | 12/10/10 | 3(i).4 |
| [4.5](http://www.sec.gov/Archives/edgar/data/829323/000135448812001498/inuv_ex3i5.htm) | [Certificate of Merger as filed with the Secretary of State of Nevada on February 29, 2012](http://www.sec.gov/Archives/edgar/data/829323/000135448812001498/inuv_ex3i5.htm) | 10-K | 3/29/12 | 3(i).5 |
| [4.6](http://www.sec.gov/Archives/edgar/data/829323/000135448812001498/inuv_ex3i6.htm) | [Articles of Amendment to Amended Articles of Incorporation as filed on February 29, 2012](http://www.sec.gov/Archives/edgar/data/829323/000135448812001498/inuv_ex3i6.htm) | 10-K | 3/29/12  | 3(i).6 |
| [4.7](http://www.sec.gov/Archives/edgar/data/829323/000082932320000048/exhibit3i7.htm) | [Articles of Amendment to Articles of Incorporation as filed on October 31, 2019](http://www.sec.gov/Archives/edgar/data/829323/000082932320000048/exhibit3i7.htm) | 10-Q  | 5/15/20  | 3(i).7 |
| [4.8](http://www.sec.gov/Archives/edgar/data/829323/000082932320000072/ex3ii8-nevadaamend.htm) | [Certificate of Validation of Amendment to Amended Articles of Incorporation as filed October 16, 2020](http://www.sec.gov/Archives/edgar/data/829323/000082932320000072/ex3ii8-nevadaamend.htm) | 10-Q | 11/9/20  | 3(i).8 |
| [4.9](http://www.sec.gov/Archives/edgar/data/829323/000082932321000010/a3i9-nevadaevidenceofame.htm) | [Articles of Amendment to Articles of Incorporation as filed January 7, 2021](http://www.sec.gov/Archives/edgar/data/829323/000082932321000010/a3i9-nevadaevidenceofame.htm) | 10-K | 2/11/21  | 3(i).9 |
| [4.10](http://www.sec.gov/Archives/edgar/data/829323/000082932321000039/inuvoinc-evidenceofnevad.htm) | [Articles of Amendment to Articles of Incorporation as filed on August 19, 2021](http://www.sec.gov/Archives/edgar/data/829323/000082932321000039/inuvoinc-evidenceofnevad.htm) | 10-Q  | 11/12/21 | 3(i).10  |
| [4.11](http://www.sec.gov/Archives/edgar/data/829323/000082932323000026/appendixa-inuvobylawsxseon.htm) | [Second Amended and Restated By-Laws](http://www.sec.gov/Archives/edgar/data/829323/000082932323000026/appendixa-inuvobylawsxseon.htm) | 8-K | 05/22/23 | 3(ii).1 |
| [4.12](http://www.sec.gov/Archives/edgar/data/829323/000165495425003921/inuvo_def14a.htm) | [Inuvo, Inc. 2025 Omnibus Incentive Compensation Plan](http://www.sec.gov/Archives/edgar/data/829323/000165495425003921/inuvo_def14a.htm) | DEF 14A | 4/4/25 | Appendix A |
| [5.1](inuv_ex51.htm) | [Opinion of Porter, Wright, Morris & Arthur LLP.](inuv_ex51.htm) |  |  | Filed |
| [23.1](inuv_ex51.htm) | [Consent of Porter, Wright, Morris & Arthur LLP (included in Exhibit 5.1).](inuv_ex51.htm) |  |  | Filed  |
| [23.2](inuv_ex232.htm) | [Consent of EisnerAmper LLP](inuv_ex232.htm) |  |  | Filed |
| 24.1 | Power of Attorney (set forth on the signature pages to this registration statement) |  |  | Filed  |
| [107](inuv_ex107.htm) | [Filing Fee Table](inuv_ex107.htm) |  |  | Filed |

---

**Item 9. Undertakings.** 

The undersigned registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the registration statement will be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Little Rock, State of Arkansas on June 4, 2025.

---

| | |
|:---|:---|
| Inuvo, Inc. | Inuvo, Inc. |
| By: | /s/ Richard K. Howe |
|  | Richard K. Howe, Executive Chairman |

---

**POWER OF ATTORNEY**

Each person whose signature appears below hereby constitutes and appoints Richard K. Howe and Wallace D. Ruiz, or either of them individually, his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) and supplements to this registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, and hereby grants to such attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Richard K. Howe | Executive Chairman and Director (principal executive officer) | June 4, 2025 |
| Richard K. Howe |  |  |
| /s/ Wallace D. Ruiz | Chief Financial Officer (principal financial and accounting officer) | June 4, 2025 |
| Wallace D. Ruiz |  |  |
| /s/ Jonathon Bond | Director | June 4, 2025 |
| Jonathon Bond |  |  |
| /s/ Rob Buchner | Director | June 4, 2025 |
| Rob Buchner |  |  |
| /s/ Gordon J. Cameron | Director | June 4, 2025 |
| Gordon J. Cameron |  |  |
| /s/ Kenneth E. Lee | Director | June 4, 2025 |
| Kenneth E. Lee |  |  |

---

## Exhibit 5.1

&nbsp;&nbsp;&nbsp;&nbsp;**EXHIBITS 5.1 AND 23.1** 

---

| | |
|:---|:---|
| <br> Porter Wright<br> Morris & Arthur LLP<br> 41 South High Street<br> Suites 2800-3200<br> Columbus, OH 43215<br>Telephone: 614.227.2000<br> Fax: 614.227.2100<br> Toll free: 800.533.2794<br>www.porterwright.com<br> ![](inuv_ex51img2.jpg)  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; June 4, 2025<br>Inuvo, Inc.<br> 500 President Clinton Avenue, Suite 300<br> Little Rock, Arkansas 72201<br>Ladies and Gentlemen:<br>With respect to the Registration Statement on Form S-8 (the "Registration Statement") being filed with the Securities and Exchange Commission by Inuvo, Inc., a Nevada corporation (the "Company"), under the Securities Act of 1933, as amended, relating to the registration of 10,983,198 shares of common stock, $0.001 par value per share, of the Company (the "Shares") to be issued pursuant to the Inuvo, Inc. 2025 Omnibus Incentive Compensation Plan (the "Plan"), we advise you as follows:<br>We are counsel for the Company and have participated in the preparation of the Registration Statement. We have reviewed the Company's Amended and Restated Articles of Incorporation, as amended, the corporate actions taken to date in connection with the Registration Statement and the registration of the Shares, and such other documents and authorities as we deem relevant for the purpose of this opinion.<br>Based upon the foregoing and in reliance thereon, we are of the opinion that when the Shares shall have been issued and paid for in accordance with the provisions of the Plan, those Shares will be validly issued, fully paid and nonassessable.<br>The opinions expressed herein are limited solely to: (i) the federal laws of the United States of America; and (ii) the Nevada General Corporation Law (including the statutory provisions and all applicable provisions of the Nevada Constitution and the reported judicial cases interpreting those laws), in each case as currently in effect, and we express no opinion as to the effect of the laws of any other jurisdiction on the opinions expressed herein. Our opinions are limited to those expressly set forth herein, and we express no opinions by implication.<br>This opinion is given as of the date hereof, and we assume no obligation to advise you after the date hereof of facts or circumstances that come to our attention or changes in law that occur that could affect the opinions contained herein.<br>We consent to the filing of this opinion as an exhibit to the Registration Statement.<br>Very truly yours,<br>/s/ Porter Wright Morris & Arthur LLP<br>PORTER WRIGHT MORRIS & ARTHUR LLP |

---

## Exhibit 23.2

**EXHIBIT 23.2**

**<u>Consent Of Independent Registered Public Accounting Firm</u>**

We consent to the incorporation by reference in this Registration Statement of Inuvo, Inc. on Form S-8 to be filed on or about June 3, 2025 of our report dated February 27, 2025, on our audits of the consolidated financial statements as of December 31, 2024 and 2023 and for each of the years then ended, which report was included in the Annual Report on Form 10-K filed February 27, 2025.

*/s/ EisnerAmper LLP*

EISNERAMPER LLP

Iselin, New Jersey

June 3, 2025

## Ex-Filing

**EXHIBIT 107**

**<u>Calculation of Filing Fees Tables</u>**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security** <br> **Type** | **Security**<br> **Class** <br> **Title**<sup>(1)</sup> | **Fee** <br> **Calculation** <br> **Rule** | **Amount** <br> **Registered**<sup>(1)</sup> | **Proposed** <br> **Maximum** <br> **Offering** <br> **Price Per** <br> **Share**<sup>(2)</sup> | **Maximum** <br> **Aggregate** <br> **Offering** <br> **Price** <sup>(2)</sup>**** | **Fee Rate** | **Amount of** <br> **registration** <br> **fee** <sup>(2)</sup> |
| Equity | Common stock, par value $0.001 per share | Rule 457(c) and Rule 457(h) | 10983198 | $0.419 | $4601960 | $153.10 per $1,000,000 | $704.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Offering Amounts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Offering Amounts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Offering Amounts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Offering Amounts |  | $4601960 |  | $704.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Fee Offsets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Fee Offsets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Fee Offsets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Fee Offsets |  |  |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Fee Due | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Fee Due | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Fee Due | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Fee Due |  |  |  | $704.56 |

---

<sup>(1)</sup> To the extent permitted by Rule 416, this registration statement also covers an indeterminate number of additional shares of common stock of Inuvo, Inc. as may be issuable as a result of the anti-dilution provisions pursuant to future stock splits, stock dividends or similar transactions.

<sup>(2)</sup> Estimated solely for purposes of calculating the registration fee pursuant to Rule 457(c) and (h) under the Securities Act of 1933, as amended, based on the average of the high and low prices per share of the registrant's common stock as reported on the NYSE American on May 29, 2025.