Page 7 of 8 – SEC Filing
CUSIP No. 46520M204
ITEM 1.
(a) Name of issuer:
Issuer Direct Corporation (the Issuer)
(b) Address of Issuer’s Principal Executive Offices:
500 Perimeter Park Drive, Suite D
Morrisville NC 27560
ITEM 2.
The names of the persons (the Reporting Persons) filing this Statement (this “Statement”) are David Sandberg, the controlling member of Red Oak Partners, LLC, a Florida limited liability company (“Red Oak Partners”), which serves as the general partner of The Red Oak Fund, LP, a Delaware limited partnership (the “Red Oak Fund”) and The Red Oak Long Fund, LP, a Delaware limited partnership (the Red Oak Long Fund). David Sandberg is the controlling member of Pinnacle Capital Partners LLC, a Florida limited liability company (Pinnacle Partners) which is the general partner of Pinnacle Opportunities Fund, LP, a Delaware limited partnership (“Pinnacle Fund” together with the “Red Oak Fund” and the Red Oak Long Fund, the “Funds”). Red Oak Partners is an investment advisor to Pinnacle Fund. The Funds are private investment vehicles formed for the purpose of investing and trading in a wide variety of securities and financial instruments. Each of the Reporting Persons hereto disclaims beneficial ownership with respect to any shares other than the shares owned directly by such filer.
(b) The principal office or business address of the Red Oak Fund, Red Oak Long Fund, Red Oak Partners, Pinnacle Partners, Pinnacle Fund and David Sandberg is 150 E Palmetto Park Road, Suite 800, Boca Raton, FL 33432.
(c) David Sandberg is a citizen of the United States.
(d) This Statement relates to Common Stock, $.001 par value, of the Issuer.
(e) The CUSIP Number of the Shares of the Issuer is 46520M204.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.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) | [_] | An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E); | |
| (f) | [_] | An employee benefit plan or endowment fund in accordance with ss.240.13d-1(b)(1)(ii)(F); | |
| (g) | [_] | A parent holding company or control person in accordance with ss.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 ss.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:
Red Oak Partners may be deemed to beneficially own 183,224 shares of Common Stock which includes: 73,813 shares of Common Stock that Red Oak Fund may be deemed to beneficially own, 32,448 shares of Common Stock that Red Oak Long Fund may be deemed to beneficially own, and 76,963 shares of Common Stock that Pinnacle Fund may be deemed to beneficially own.
Mr. Sandberg, as the managing member of Red Oak Partners may be deemed to beneficially own the 183,224 shares of Common Stock beneficially owned by Red Oak Partners through the Funds.
Percent of class:
With respect to David Sandberg and Red Oak Partners, 6.20% of Common Stock. With respect to the Red Oak Fund, 2.50% of Common Stock. With respect to the Red Oak Long Fund, 1.10% of Common Stock. With respect to Pinnacle Partners and Pinnacle Fund, 2.61% of Common Stock.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
(ii) Shared power to vote or to direct the vote
With respect to David Sandberg and Red Oak Partners, LLC, 183,224 shares of Common Stock.
(iii) Sole power to dispose or to direct the disposition of
0
(iv) Shared power to dispose or to direct the disposition of
With respect to David Sandberg and Red Oak Partners, LLC, 183,224 shares of Common Stock.
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 [ ].
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
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. CERTIFICATIONS.
(a) Not applicable.
(b) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities are not held in connection with or as a participant in any transaction having that purpose or effect.
