Schedule 13D

COMMON STOCK, $.01 par value
-----------------------
(Title of Class of Securities)

705906105
-----------------------
(CUSIP Number)

Murray A. Indick
Prides Capital Partners, L.L.C.
200 High Street, Suite 700
Boston, MA 02110
(617) 778-9200
-----------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

February 17, 2005
-----------------------
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].

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

The information required on 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).

CUSIP NO.705906105 SCHEDULE 13D ----------------------------------------------------------------------- 1. NAME OF REPORTING PERSON
Prides Capital Partners, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 20-0654530 ----------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [] (b) [x] ----------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ----------------------------------------------------------------------- 7. SOLE VOTING POWER -0- ----------------------------------------------------------------------- 8. SHARED VOTING POWER 1,481,191** ----------------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 1,481,191** ----------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,481,191** ----------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.81% ----------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON OO ( Limited Liability Company) ----------------------------------------------------------------------- ** See Item 5 CUSIP NO.705906105 SCHEDULE 13D ----------------------------------------------------------------------- 1. NAME OF REPORTING PERSON
Kevin A. Richardson, II ----------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [] (b) [x] ----------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ----------------------------------------------------------------------- 7. SOLE VOTING POWER -0- ----------------------------------------------------------------------- 8. SHARED VOTING POWER 1,481,191** ----------------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 1,481,191** ----------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,481,191** ----------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.81%** ----------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ----------------------------------------------------------------------- ** See Item 5 CUSIP NO.705906105 SCHEDULE 13D ----------------------------------------------------------------------- 1. NAME OF REPORTING PERSON
Henry J. Lawlor, Jr. ----------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [] (b) [x] ----------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ----------------------------------------------------------------------- 7. SOLE VOTING POWER -0- ----------------------------------------------------------------------- 8. SHARED VOTING POWER 1,481,191** ----------------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 1,481,191** ----------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,481,191** ----------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.81% ----------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ----------------------------------------------------------------------- ** See Item 5 CUSIP NO.705906105 SCHEDULE 13D ----------------------------------------------------------------------- 1. NAME OF REPORTING PERSON
Murray A. Indick ----------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] ----------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ----------------------------------------------------------------------- 7. SOLE VOTING POWER -0- ----------------------------------------------------------------------- 8. SHARED VOTING POWER 1,481,191** ----------------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 1,481,191** ----------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,481,191** ----------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.81% ----------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ----------------------------------------------------------------------- ** See Item 5 CUSIP NO. 705906105 SCHEDULE 13D ----------------------------------------------------------------------- 1. NAME OF REPORTING PERSON
Charles E. McCarthy ----------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [] (b) [x] ----------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ----------------------------------------------------------------------- 7. SOLE VOTING POWER -0- ----------------------------------------------------------------------- 8. SHARED VOTING POWER 1,481,191** ----------------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 1,481,191** ----------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,481,191** ----------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.81% ----------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ----------------------------------------------------------------------- ** See Item 5 CUSIP NO. 705906105 SCHEDULE 13D ----------------------------------------------------------------------- 1. NAME OF REPORTING PERSON
Christian Puscasiu ----------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] ----------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION USA ----------------------------------------------------------------------- 7. SOLE VOTING POWER -0- ----------------------------------------------------------------------- 8. SHARED VOTING POWER 1,481,191** ----------------------------------------------------------------------- 9. SOLE DISPOSITIVE POWER -0- ----------------------------------------------------------------------- 10. SHARED DISPOSITIVE POWER 1,481,191** ----------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,481,191** ----------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.81% ----------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON IN ----------------------------------------------------------------------- ** See Item 5

This Amendment No. 1 amends the Statement on Schedule 13D (the "Schedule13D") filed with the Securities and Exchange Commission (the "Commission") on November 24, 2004 by Prides Capital Partners, L.L.C. a Delaware limited liability company, Kevin A. Richardson, II, Henry J. Lawlor, Jr., Murray A. Indick, Charles E. McCarthy and Christian Puscasiu. This amendment to the Schedule 13D relates to the shares of Common Stock, $.01 par value (the "Common Stock") of Pegasus Solutions Inc., a Delaware corporation (the "Issuer"). The principal executive office and mailing address of the Issuer is Campbell Centre I, 8350 North Central Expressway, Suite 1900, Dallas, Texas 75206. The following amendments to the Schedule 13D are hereby made. Unless otherwise defined herein, all capitalized terms shall have the meanings ascribed to them in the Schedule 13D.

(a),(b) According to the Issuer's 10-Q filed on October 29, 2004, there were 21,748,615 shares of Common Stock issued and outstanding as of October 27, 2004. Based on such information, after taking into account the transactions described in Item 5(c) below, the Reporting Persons report beneficial ownership of 1,481,191 shares of Common Stock, representing 6.81% of the shares outstanding, held by Prides Capital Partners, L.L.C. Voting and investment power concerning the above shares are held solely by Prides Capital Partners, L.L.C.

Although Kevin A. Richardson, II, Henry J. Lawlor, Jr., Murray A. Indick, Charles E. McCarthy and Christian Puscasiu are joining in this Ammendment as Reporting Persons, the filing of this Amendment shall not be construed as an admission that any of them are, for any purpose, the beneficial owner of any of the securities that are beneficially owned by Prides Capital Partners, L.L.C.

(c)Since the date of the last acquisition reported in the Schedule 13D, the Reporting Persons purchased the following shares of Common Stock in the open market:


Trade Date	Shares		Pric	e/Share


2005-01-06	25,000	.00	12	.05
2005-01-07	25,000	.00	12	.01
2005-01-10	10,000	.00	12	.04
2005-01-11	7,500	.00	11	.77
2005-01-13	19,000	.00	11	.80
2005-01-19	10,000	.00	11	.80
2005-01-20	25,000	.00	11	.81
2005-01-21	10,000	.00	11	.56
2005-01-24	5,000	.00	11	.55
2005-01-25	25,000	.00	11	.54
2005-02-09	25,000	.00	11	.75
2005-02-10	5,000	.00	12	.07
2005-02-11	13,000	.00	12	.07
2005-02-14	15,000	.00	12	.05
2005-02-15	25,000	.00	12	.05
2005-02-16	10,000	.00	12	.05
2005-02-17	20,000	.00	12	.15
2005-02-18	22,500	.00	12	.05
2005-02-22	20,000	.00	12	.04
2005-02-23	20,000	.00	12	.09

Trade Date

Shares

Pric

e/Share

2005-01-06

25,000

.00

.05

2005-01-07

25,000

.00

.01

2005-01-10

10,000

.00

.04

2005-01-11

7,500

.00

.77

2005-01-13

19,000

.00

.80

2005-01-19

10,000

.00

.80

2005-01-20

25,000

.00

.81

2005-01-21

10,000

.00

.56

2005-01-24

5,000

.00

.55

2005-01-25

25,000

.00

.54

2005-02-09

25,000

.00

.75

2005-02-10

5,000

.00

.07

2005-02-11

13,000

.00

.07

2005-02-14

15,000

.00

.05

2005-02-15

25,000

.00

.05

2005-02-16

10,000

.00

.05

2005-02-17

20,000

.00

.15

2005-02-18

22,500

.00

.05

2005-02-22

20,000

.00

.04

2005-02-23

20,000

.00

.09

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

The undersigned, being duly authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13D to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule jointly on behalf of each such party.

	Dated: February 24, 2005

	PRIDES CAPITAL PARTNERS, L.L.C.
By:	Murray A. Indick
	Managing Member


By:	/s/ Murray A. Indick	By:	/s/ Kevin A. Richardson, II
	Murray A. Indick		Murray A. Indick
			Attorney-in-Fact


By:	/s/ Henry J. Lawlor, Jr.	By:	/s/ Charles E. McCarthy
	Murray A. Indick		Murray A. Indick
	Attorney-in-Fact		Attorney-in-Fact


By:	/s/ Christian Puscasiu
	Murray A. Indick
	Attorney-in-Fact