X0202 3 2005-07-28 0 0001095079 ARTISTDIRECT INC ARTD 0001049347 JMG CAPITAL MANAGEMENT LLC 11601 WILSHIRE BLVD. SUITE 2180 LOS ANGELES CA 90025 0 0 1 0 0001264689 JMG CAPITAL MANAGEMENT INC 11601 WILSHIRE BLVD. SUITE 2180 LOS ANGELES CA 90025 0 0 1 0 0001074264 PACIFIC ASSETS MANAGEMENT LLC 100 DRAKES LANDING SUITE 207 GREENBRAE CA 94904 0 0 1 0 0001264691 PACIFIC CAPITAL MANAGEMENT INC 100 DRAKES LANDING SUITE 207 GREENBRAE CA 94904 0 0 1 0 0001264696 DAVID DANIEL ALBERT 100 DRAKES LANDING BLVD. SUITE 207 GREENBRAE CA 94904 0 0 1 0 0001264694 GLASER JONATHAN M 11601 WILSHIRE BLVD. SUITE 2180 LOS ANGELES CA 90025 0 0 1 0 0001264695 RICHTER ROGER ONE SANSOME STREET 39TH FLOOR SAN FRANCISCO CA 94104 0 0 1 0 Warrants (right to buy) 2 2005-07-28 2010-07-08 Common Stock 650000 I See Notes The reporting persons are JMG Capital Management, Inc., a California corporation ("JMG"), JMG Capital Management, LLC, a Delaware limited liability company ("JMG LLC"), Pacific Capital Management, Inc., a California corporation ("PCM"), Pacific Assets Management, LLC, a Delaware limited liability company ("PAM"), Jonathan M. Glaser, Daniel Albert David and Roger Richter. PAM is the investment adviser to an investment fund and PCM is a member of PAM. Mr. Glaser, Mr. David and Mr. Richter are control persons of PCM and PAM. JMG LLC is the investment adviser and general partner of an investment limited partnership and JMG is a member of JMG LLC. Mr. Glaser is the control person of JMG and JMG LLC. JMG, JMG LLC, PCM, PAM, Mr. Glaser, Mr. David and Mr. Richter are filing this Form 4 jointly and constitute a group within the meaning of Rule 13d-5(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), but disclaim membership in a group with any other person. These securities are held directly by the investment limited partnership of which JMG LLC is investment adviser and general partner and the investment fund of which PAM is the investment adviser, for the benefit of the investors in that partnership and that fund. These securities are indirectly beneficially owned by the reporting persons, who disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein. JMG Capital Management, LLC by Jonathan M. Glaser, Member Manager 2005-08-04 JMG Capital Management, Inc. by Jonathan M. Glaser, President 2005-08-04 Pacific Assets Management, LLC, by Jonathan M. Glaser, Member Manager 2005-08-04 Pacific Capital Management, Inc., by Jonathan M. Glaser, President 2005-08-04 Daniel Albert David 2005-08-04 Jonathan M. Glaser 2005-08-04 Roger Richter 2005-08-04