FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Prides Capital Partners, LLC 		2. Issuer Name and Ticker or Trading Symbol

AMERITRANS CAPITAL CORP [ AMTC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

200 STATE STREET, 13TH FLOOR 		3. Date of Earliest Transaction (MM/DD/YYYY)

1/24/2011
(Street)

BOSTON, MA 02109
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   1/24/2011     S    848500   (1) D $1.21   0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants (Right to Buy)   $6.44   1/24/2011     S         66250    12/5/2005   12/5/2010   Common Stock   66250   $0.00   157566   D    
Warrants (Right to Buy)   $6.44   1/24/2011     S         147425    3/2/2006   3/2/2011   Common Stock   147425   $0.00   10141   (2) D    
Non Employee Stock Option   $4.93                    5/9/2008   5/9/2012   Common Stock   10141     10141   (2) I   See Footnote   (1)

Explanation of Responses:
( 1)  The securities reported herein are owned directly by Prides Capital Fund I, L.P. 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 the beneficial owner of the securities held by Prides Capital Fund I, L.P. Because Kevin A. Richardson, II, is the controlling members of Prides Capital Partners, L.L.C., he may also be deemed to be beneficial owners of securities deemed to be beneficially owned by Prides Capital Partners, L.L.C. Messrs. Richardson and Indick disclaim beneficial ownership of the securities reported herein except to the extent of any pecuniary interests therein. Murray A. Indick has been deputized by Prides Capital Partners, L.L.C. to serve on the Issuer's board of directors, and therefore Prides Capital Partners, L.L.C. and each of the Reporting Persons also is a director of the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934
( 2)  10,141 five-year options granted under the Director Plan.

Remarks:
As previously reported in the Schedule 13D/A Amendment No. 2 filed by Prides Capital Partners, L.L.C. on December 2, 2010, on December 1, 2010 a limited partnership for which Prides serves as the sole general partner entered a Purchase Agreement pursuant to which they proposed to sell 848,500 shares of Common Stock and 213,675 warrants to an accredited investor in a private negotiated transaction for an aggregate purchase price of $1,026,685, with the purchase price to be reduced by the amount of dividends, if any, paid between December 1, 2010 and the closing date (the "Transaction"). The Transaction has now closed, effective January 24, 2011.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Prides Capital Partners, LLC
200 STATE STREET
13TH FLOOR
BOSTON, MA 02109 		X X

Richardson Kevin A II
200 STATE STREET
13TH FLOOR
BOSTON, MA 02109 		X X

Indick Murray A
200 STATE STREET
13TH FLOOR
BOSTON, MA 02109 		X X


Signatures
/s/ Prides Capital Partners, L.L.C. 1/26/2011
** Signature of Reporting Person Date

/s/ Kevin A. Richardson, II, by Murray A. Indick, Attorney-in-Fact 1/26/2011
** Signature of Reporting Person Date

/s/ Murray A. Indick 1/26/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
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