Edgar Filing: EDIETS COM INC

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:

3235-0104

Expires:

January 31, 2005

Estimated average burden hours per response...

0.5

(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Prides Capital Partners, LLC

2. Date of Event Requiring Statement (Month/Day/Year)
05/15/2006

3. Issuer Name and Ticker or Trading Symbol
EDIETS COM INC [DIET]

(Last)

(First)

(Middle)

200 HIGH STREET,Â SUITE 700

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

BOSTON,Â MAÂ 02110

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
COMMON STOCK, Par Value $0.001 Per Share	4,396,032	I	See Footnote ⁽¹⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options (right to buy)	05/17/2006	05/16/2011	Common Stock	37,500	$ 5.52	I	See Footnote ⁽²⁾ ⁽³⁾
Warrants (right to buy)	05/15/2006	05/14/2011	Common Stock	1,009,901	$ 6	I	See Footnote ⁽³⁾ ⁽⁴⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Prides Capital Partners, LLC 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â
Richardson Kevin A II 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â
Indick Murray A 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â
Lawlor Henry J Jr 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â
McCarthy Charles E 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â
Puscasiu Christian 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â
Cootey Stephen Lawrence 200 HIGH STREET SUITE 700 BOSTON,Â MAÂ 02110	Â X	Â X	Â	Â

Signatures

Prides Capital Partners, LLC		05/19/2006
^**Signature of Reporting Person		Date
Kevin A. Richardson, II		05/19/2006
^**Signature of Reporting Person		Date
Murray A. Indick		05/19/2006
^**Signature of Reporting Person		Date
Henry J. Lawlor, Jr.		05/19/2006
^**Signature of Reporting Person		Date
Charles E. McCarthy		05/19/2006
^**Signature of Reporting Person		Date
Christian Puscasiu		05/19/2006
^**Signature of Reporting Person		Date
Stephen L. Cootey		05/19/2006
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The shares of Common Stock reported herein as indirectly beneficially owned by Prides Capital Partners, L.L.C. are owned directly by Prides Capital Fund I, L.P. (4,396,032). Because Prides Capital Partners, L.L.C. is the general partner of Prides Capital Fund I, L.P., Prides Capital Partners, L.L.C. may be deemed to be the beneficial owner of shares owned by such entity. Because Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr., Charles E. McCarthy, and Christian Puscasiu are the controlling shareholders of Prides Capital Partners, L.L.C., they may be deemed to be the beneficial owners of shares deemed to be beneficially owned by such entity. Each of Prides Capital Partners, L.L.C., Prides Capital Fund I, L.P, Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr., Charles E. McCarthy and Christian Puscasiu disclaim beneficial ownership of these shares, except to the extent of any pecuniary interest therein.
(2)	The options reported herein as indirectly beneficially owned by Prides Capital Partners, L.L.C. are owned directly by Stephen L. Cootey,who is a principal of Prides Capital Partners, L.L.C., which is the general partner of Prides Capital Fund I, L.P. Mr. Cootey is deemed to hold the options for the benefit of Prides Capital Fund I, L.P. and may exercise the options solely upon the direction of Prides Capital Fund I, L.P., which is entitled to the shares issued upon exercise. Because Prides Capital Partners, L.L.C. is the general partner of Prides Capital Fund I, L.P., Prides Capital Partners, L.L.C. may be deemed to be the beneficial owner of options owned by such entity.
(3)	Because Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr., Charles E. McCarthy and Christian Puscasiu are the controlling shareholders of Prides Capital Partners, L.L.C., they may be deemed to be the beneficial owners of shares deemed to be beneficially owned by such entity. Each of Prides Capital Partners, L.L.C., Prides Capital Fund I, L.P, Kevin A. Richardson, II, Murray A. Indick, Henry J. Lawlor, Jr., Charles E. McCarthy and Christian Puscasiu disclaim beneficial ownership of these options, except to the extent of any pecuniary interest therein
(4)	The warrants reported herein as indirectly beneficially owned by Prides Capital Partners, L.L.C. are owned directly by Prides Capital Fund I, L.P.
Â Remarks: StephenÂ L.Â CooteyÂ hasÂ beenÂ deputizedÂ byÂ PridesÂ CapitalÂ Partners,Â L.L.C.Â toÂ serveÂ onÂ theÂ Issuer'sÂ boardÂ ofÂ directors,Â andÂ thereforeÂ PridesÂ CapitalÂ Partners,Â L.L.C.Â andÂ eachÂ ofÂ theÂ otherÂ ReportingÂ PersonsÂ alsoÂ isÂ aÂ directorÂ ofÂ theÂ IssuerÂ forÂ purposesÂ ofÂ SectionÂ 16Â ofÂ theÂ SecuritiesÂ ExchangeÂ ActÂ ofÂ 1934.Â Â PursuantÂ toÂ theÂ agreementsÂ describedÂ Â inÂ aÂ ScheduleÂ 13DÂ filedÂ onÂ MayÂ 19,Â 2006Â byÂ theÂ ReportingÂ Persons,Â theÂ ReportingÂ PersonsÂ reportÂ beneficalÂ ownershipÂ ofÂ 9,240,262Â sharesÂ ofÂ commonÂ stock.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.