Inuvo straightens up books

Clearwater-based Inuvo Inc. made two recent business moves to improve its financial standing. The online marketing services company sold a discontinued education business for $750,000 today, after completing a reverse split on Friday.

Inuvo sold the assets of RealEstateSchoolOnline.com, an online education property, to an affiliate of Kaplan Inc. for $750,000. Inuvo will use the proceeds from the sale to pay down its debt, a release said.

On Friday, Inuvo dramatically reduced the number of outstanding shares of its common stock (symbol: INUV) by completing a 10-for-1 reverse split, boosting its per-share price by awarding investors one share of common stock for every 10 shares owned. Fractional shares were not awarded, the company said.

After closing on Friday, Dec. 10, at $0.53, Inuvo shares traded near the $6 mark early Monday. On the day the reverse split was announced (Nov. 4), Inuvo's stock traded for $3.50 a share.