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Filing Details

Accession Number:: 0001325533-15-000001
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-01-21 19:13:06
Reporting Period:: 2015-01-20

Filing Date:: 2015-01-21
Accepted Time:: 2015-01-21 19:13:06
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
843006	Issuer Direct Corp	ISDR	Commercial Printing (2750)	261331503

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1325533	Red Oak Partners, Llc	1969 Sw 17Th Street Boca Raton FL 33486		No	No	Yes	No
1423093	David Sandberg	1969 Sw 17Th Street Boca Raton FL 33486		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2015-01-20	3,000	$10.00	87,193	No	4	S	Indirect	By Pinnacle Opportunities Fund, LP directly
Common Stock	Acquisiton	2015-01-21	3,000	$10.39	90,193	No	4	P	Indirect	By Pinnacle Opportunities Fund, LP directly

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Pinnacle Opportunities Fund, LP directly
No	4	P	Indirect	By Pinnacle Opportunities Fund, LP directly

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	86,493	Indirect	By The Red Oak Fund, L.P. directly
Common Stock	38,024	Indirect	By The Red Oak Long Fund, L.P. directly

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Options to Purchase Common Stock, par value $0.001	$8.25	40,000	40,000	Indirect
Common Stock	8% Convertible Secured Promissory Note	$3.99	168,270	168,270	Indirect
Common Stock	8% Convertible Secured Promissory Note	$3.99	73,976	73,976	Indirect
Common Stock	8% Convertible Secured Promissory Note	$3.99	175,467	175,467	Indirect

Amount	Remaning Holdings	Nature of Ownership
40,000	40,000	Indirect
168,270	168,270	Indirect
73,976	73,976	Indirect
175,467	175,467	Indirect

Footnotes

Red Oak Partners, LLC ("ROP") serves as the general partner of The Red Oak Fund, LP, a Delaware limited partnership (the "Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Fund's portfolio manager.
ROP serves as a managing member of Pinnacle Partners, LLC, a Colorado limited liability company ("Pinnacle Partners"). Pinnacle Partners is the general partner of Pinnacle opportunities Fund, LP, a Delaware limited partnership ("Pinnacle Fund"), the direct owner of the subject securities.
ROP serves as the general partner of The Red Oak Long Fund, LP, a Delaware limited partnership (the "Long Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Long Fund's portfolio manager.
Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.
This transaction was executed in multiple trades at prices ranging from $10.32 to $10.42. The price reported in Column 4 of Table I reflects the weighted average purchase price. The reporting persons hereby undertake to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which each of the individual transactions was effected.
These shares were sold due to a trading error. The reporting persons entered a good-till-cancelled order to sell the shares at a limit price of $10 on December 17, 2014, during the Company's open trading window, with the intention to cancel the order prior to the start of the Company's blackout on December 24, 2014. The order remained inadvertently live after the blackout initiated and executed when the security reached the limit price in the open market.
As per guidance from the Company's counsel, the reporting persons immediately bought back the shares sold the previous day in order to correct the trading error. The result of the buy back of the shares was a net loss of $1,162 to the reporting persons.
On August 22, 2013, the Reporting Person was granted options to purchase 40,000 shares of the Company's common stock, par value $0.001, which shall vest quarterly over four years so long as the Reporting Person remains a member of the Company's Board of Directors. The exercise price of such options is $8.25 and the options shall be exercisable for a period of five years from the date of issuance.
Red Oak Partners, LLC holds an indirect interest in a $1,666,673 principal amount of 8% Convertible Subordinated Secured Promissory Notes due in 2015 (the "Convertible Note"), which is convertible as of the filing date of this Form 4 into 417,712 shares of Common Stock at a conversion price of $3.99 per share. The principal office or business address of the Red Oak Fund, Red Oak Partners and David Sandberg is 1969 SW 17th Street, Boca Raton, FL 33486. The principal office or business address of Pinnacle Partners and Pinnacle Fund is 2810 North Speer Boulevard, Denver, CO 80211.