Sec Form 13G Filing - Herald Investment Management Ltd filing for Inuvo Inc. (INUV) - 2021-01-26

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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Washington, D.C. 20549

                                SCHEDULE 13G

                    Under the Securities Exchange Act of 1934



                                   Inuvo Inc.

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                               (Name of Issuer)

                              $.001 Common Stock
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                         (Title of Class of Securities)

				US46122W2044
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                                (CUSIP Number)

                             	19 January 2021
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             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

    [X]   Rule 13d-1(b)

    [ ]   Rule 13d-1(c)

    [ ]   Rule 13d-1(d)


*The remainder of this cover page shall be filled out for a reporting
persons initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not
be deemed to be filed for the purpose of Section 18 of the Securities
Exchange Act of 1934 (Act) or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).


Persons who respond to the collection of information contained in this
form are not required to respond unless the form displays a currently
valid OMB control number.


CUSIP No. US46122W2044

_______________________________________________________________________

1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).

   Herald Investment Management Limited
_______________________________________________________________________
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)....................................................................
(b)X....................................................................
_______________________________________________________________________
3. SEC Use Only
_______________________________________________________________________
4. Citizenship or Place of Organization

   London UK
_______________________________________________________________________
Number of        5. Sole Voting Power         5,292,857
Shares Bene      ______________________________________________________
ficially by      6. Shared Voting Power       0
Owned by Each    ______________________________________________________
Reporting        7. Sole Dispositive Power    5,292,857
Person With:     ______________________________________________________
                 8. Shared Dispositive Power  0
_______________________________________________________________________

9. Aggregate Amount Beneficially Owned by Each Reporting Person
5,292,857
_______________________________________________________________________
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
   (See Instructions)
_______________________________________________________________________
11. Percent of Class Represented by Amount in Row (9)            4.52%
_______________________________________________________________________

12. Type of Reporting Person (See Instructions)                   IA
_______________________________________________________________________



Item 1.

(a) Name of Issuer
Inuvo Inc.

(b) Address of Issuers Principal Executive Offices

500 President Clinton Avenue., Suite 300 Little Rock, AR 72201

Item 2

(a) Name of Person Filing

Herald Investment Management Limited

(b) Address of Principal Business Office or, if none, Residence

10-11 Charterhouse Square, London EC1M6EE UK

(c) Citizenship
England
(d) Title of Class of Securities

$.001 Common stock


(e) CUSIP Number

US46122W2044












Item 3. If this statement is filed pursuant to rule 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:

(a)    Broker or dealer registered under section 15 of the Act
      (15 U.S.C. 78o).

(b)    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c)    Insurance company as defined in section 3(a)(19) of the Act
      (15 U.S.C. 78c).

(d)    Investment company registered under section 8 of the Investment
       Company Act of 1940 (15 U.S.C 80a-8).

(e) X  An investment adviser in accordance with rule 240.13d-
       1(b)(1)(ii)(E)

(f)    An employee benefit plan or endowment fund in accordance with
       240.13d-1(b)(1)(ii)(F)

(g)    A parent holding company or control person in accordance with
       rule 240.13d-1(b) (1)(ii)(G)

(h)    A savings associations as defined in Section 3(b) of the Federal
       Deposit Insurance Act (12 U.S.C. 1813)

(i)    A church plan that is excluded from the definition of an
       investment company under section 3(c)(14) of the Investment
       Company Act of 1940 (15 U.S.C. 80a-3)

(j)    Group in accordance with rule 240.13d-1(b)(1)(ii)(J).


Item 4. Ownership.

Provide the following information regarding the aggregate number and
Percentage of the class of securities of the issuer identified in Item 1.

(a)   Amount beneficially owned:   see row (9) on page 2.

(b)   Percent of Class:		see row (11) on page 2.

(c)   Number of shares as to which the person has:
(i)   Sole power to vote or to direct the vote
      See row (5) on page 2.
(ii)  Shared power to vote or to direct the vote
      See row (6) on page 2
(iii) Sole power to dispose or to direct the disposition of
      See row (7) on page 2
(iv)  Shared power to dispose or to direct the disposition of
      See row (8) on page 2


Item 5. Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following.

X

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Securities reported on this Schedule 13G as being owned by
Herald Investment Management Limited are beneficially held by its
investment advisory client, Herald Investment Trust plc.

Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding Company

Not applicable.

Item 8. Identification and Classification of Members of the Group

Not applicable.

Item 9. Notice of Dissolution of Group

Not applicable.

Item 10. Certification

By signing below I certify that, to the best of my knowledge and
belief:
- the securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are
not held in connection with or as a participant in any transaction
having that purpose or effect.
- the foreign regulatory scheme applicable to investment advisers is
substantially comparable to the functionally equivalent U.S.
institution(s).
I also undertake to furnish the Commission staff, upon request,
information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable enquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete and correct


22 Jan 2021
_______________________________________
Date

Andrew Miller
_______________________________________
Signature
Andrew Miller, CFO and Compliance Officer,
 Herald Investment Management Limited
_______________________________________


The original statement shall be signed by each person on
whose behalf the statement is filed or his authorized representative.
If the statement is signed on behalf of a person by his authorized
representative other than an executive officer or general partner of
the filing person, evidence of the representatives authority to sign
on behalf of such person shall be filed with the statement, provided,
however, that a power of attorney for this purpose which is already on
file with the Commission may be incorporated by reference. The name and
any title of each person who signs the statement shall be typed or
printed beneath his signature.

NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See rule 240.13d-
7 for other parties for whom copies are to be sent.

Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001)