SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D/A
(RULE 13D-2-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(a) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(a)

(Amendment No. 15)(1)

TRANSMETA CORPORATION
(Name of Issuer)

COMMON STOCK
(Title of Class of Securities)

89376R2080
(CUSIP Number)

RILEY INVESTMENT MANAGEMENT LLC
ATTN: BRYANT R. RILEY
11100 SANTA MONICA BLVD.
SUITE 810
LOS ANGELES, CA 90025
(310) 966-1445
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)

December 23, 2008
(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(e), 13d-1(f) or 13d-1(g), check the following box: | |

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

(Continued on following pages)

(1) 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. 89376R208 13D Page 2


--------- ----------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON

 Riley Investment Partners Master Fund, L.P.
--------- ----------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
--------- ----------------------------------------------------------------------
 3 SEC USE ONLY

--------- ----------------------------------------------------------------------
 4 SOURCE OF FUNDS*

 WC
--------- ----------------------------------------------------------------------
 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
 ITEMS 2(d) OR 2(e)
 [ ]
--------- ----------------------------------------------------------------------
 6 CITIZENSHIP OR PLACE OF ORGANIZATION

 Cayman Islands
--------- ----------------------------------------------------------------------
 NUMBER OF 7 SOLE VOTING POWER

 SHARES 1,000
 ------ --------------------------------------------------
 BENEFICIALLY 8 SHARED VOTING POWER

 OWNED BY -0-
 ------ --------------------------------------------------
 EACH 9 SOLE DISPOSITIVE POWER

 REPORTING 1,000
 ------ --------------------------------------------------
 PERSON 10 SHARED DISPOSITIVE POWER

 WITH -0-
--------- ----------------------------------------------------------------------
 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 1,000
--------- ----------------------------------------------------------------------
 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
 [ ]
--------- ----------------------------------------------------------------------
 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 0.0%(1)
--------- ----------------------------------------------------------------------
 14 TYPE OF REPORTING PERSON*

 PN
--------- ----------------------------------------------------------------------

___________
(1) Based on 12,204,671 shares of common stock of Transmeta Corporation (the
"Issuer") outstanding at October 15, 2008, as reported in the Issuer's Quarterly
Report on Form 10-Q for the quarter ended September 30, 2008 filed with the
Securities and Exchange Commission on November 17, 2008.


CUSIP No. 89376R208 13D Page 3

--------- ----------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON

 Riley Investment Management LLC
--------- ----------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
--------- ----------------------------------------------------------------------
 3 SEC USE ONLY

--------- ----------------------------------------------------------------------
 4 SOURCE OF FUNDS*

 AF
--------- ----------------------------------------------------------------------
 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
--------- ----------------------------------------------------------------------
 NUMBER OF 7 SOLE VOTING POWER

 SHARES 490,829(2)
 ------ --------------------------------------------------
 BENEFICIALLY 8 SHARED VOTING POWER

 OWNED BY 699(3)
 ------ --------------------------------------------------
 EACH 9 SOLE DISPOSITIVE POWER

 REPORTING 490,829(2)
 ------ --------------------------------------------------
 PERSON 10 SHARED DISPOSITIVE POWER

 WITH 699 (3)
--------- ----------------------------------------------------------------------
 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 491,528
--------- ----------------------------------------------------------------------
 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
 [ ]
--------- ----------------------------------------------------------------------
 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 4.0%(1)
--------- ----------------------------------------------------------------------
 14 TYPE OF REPORTING PERSON*

 IA
--------- ----------------------------------------------------------------------

_____________
(2) Because Riley Investment Management LLC has sole investment and voting power
over 1,000 shares of Common Stock held by Riley Investment Partners Master
Fund, L.P. and 489,829 shares held in managed accounts by its investment
advisory clients, Riley Investment Management LLC may be deemed to have
beneficial ownership of these shares.

(3) Riley Investment Management LLC has shared voting and dispositive power over
699 shares of Common Stock held in investment advisory accounts indirectly
affiliated with Riley Investment Partners Master Fund, L.P.


CUSIP No. 89376R208 13D Page 4

--------- ----------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON

 B. Riley & Co., LLC
--------- ----------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
--------- ----------------------------------------------------------------------
 3 SEC USE ONLY

--------- ----------------------------------------------------------------------
 4 SOURCE OF FUNDS*

 WC
--------- ----------------------------------------------------------------------
 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
--------- ----------------------------------------------------------------------
 NUMBER OF 7 SOLE VOTING POWER

 SHARES 26
 ------ --------------------------------------------------
 BENEFICIALLY 8 SHARED VOTING POWER

 OWNED BY -0-
 ------ --------------------------------------------------
 EACH 9 SOLE DISPOSITIVE POWER

 REPORTING 26
 ------ --------------------------------------------------
 PERSON 10 SHARED DISPOSITIVE POWER

 WITH -0-
--------- ----------------------------------------------------------------------
 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 26
--------- ----------------------------------------------------------------------
 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
 [ ]
--------- ----------------------------------------------------------------------
 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 0.0%(1)
--------- ----------------------------------------------------------------------
 14 TYPE OF REPORTING PERSON*

 BD
--------- ----------------------------------------------------------------------


CUSIP No. 89376R208 13D Page 5


--------- ----------------------------------------------------------------------
 1 NAME OF REPORTING PERSON
 S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON

 Bryant R. Riley
--------- ----------------------------------------------------------------------
 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 (a) [ ]
 (b) [X]
--------- ----------------------------------------------------------------------
 3 SEC USE ONLY

--------- ----------------------------------------------------------------------
 4 SOURCE OF FUNDS*

 AF
--------- ----------------------------------------------------------------------
 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
 ITEMS 2(d) OR 2(e)
 [ ]
--------- ----------------------------------------------------------------------
 6 CITIZENSHIP OR PLACE OF ORGANIZATION

 United States
--------- ----------------------------------------------------------------------
 NUMBER OF 7 SOLE VOTING POWER

 SHARES 490,829(4)
 ------ --------------------------------------------------
 BENEFICIALLY 8 SHARED VOTING POWER

 OWNED BY 725(5)
 ------ --------------------------------------------------
 EACH 9 SOLE DISPOSITIVE POWER

 REPORTING 490,829 (4)
 ------ --------------------------------------------------
 PERSON 10 SHARED DISPOSITIVE POWER

 WITH 725 (5)
--------- ----------------------------------------------------------------------
 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 491,554
--------- ----------------------------------------------------------------------
 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
 [ ]
--------- ----------------------------------------------------------------------
 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 4.0%
--------- ----------------------------------------------------------------------
 14 TYPE OF REPORTING PERSON*

 IN
--------- ----------------------------------------------------------------------

_____________

(4) Because Riley Investment Management LLC has sole voting and investment power
over Riley Investment Partners Master Fund, L.P.'s security holdings and certain
managed accounts of its investment advisory clients and Mr. Riley, in his role
as the sole manager of Riley Investment Management LLC, controls its voting and
investment decisions, each of Riley Investment Management LLC and Mr. Riley may
be deemed to have beneficial ownership of the 1,000 shares of Common Stock held
by Riley Investment Partners Master Fund, L.P. and the 489,829 shares held in
managed accounts by its investment advisory clients.

(5) Riley Investment Management LLC has shared voting and dispositive power over
699 shares of Common Stock held by investment advisory accounts indirectly
affiliated with Riley Investment Partners Master Fund, L.P. Mr. Riley is the
sole indirect equity owner and Chairman of B. Riley & Co., LLC, which holds 26
shares of Common Stock.


CUSIP No. 89376R208 13D Page 6


ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

 (c) In the ordinary course of business, BRC may effect transactions in
connection with its ordinary course market making activities, as well as for
customer transactions. The following are the other transactions since the
Reporting Persons' last filing.


INVESTMENT ADVISORY CLIENTS TRANS CODE QUANTITY PRICE TRADE DATE
 SL 55,391 17.8923 12/19/2008
 SL 2,150 17.9 12/22/2008
 SL 190,000 17.8218 12/23/2008

 (e) December 23, 2008.


CUSIP No. 89376R208 13D Page 7

 SIGNATURE

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

Date: December 26, 2008


 Riley Investment Partners Master Fund, L.P.
 By: Riley Investment Management LLC,
 its General Partner

 By: /s/ Bryant R. Riley
 ---------------------------------------
 Bryant R. Riley, Managing Member


 Riley Investment Management LLC

 By: /s/ Bryant R. Riley
 ---------------------------------------
 Bryant R. Riley, Managing Member


 B. Riley & Co, LLC

 By: /s/ Bryant R. Riley
 ---------------------------------------
 Bryant R. Riley, Chairman


 B. Riley & Co. Retirement Trust

 By: /s/ Bryant R. Riley
 ---------------------------------------
 Bryant R. Riley, Trustee


 By: /s/ Bryant R. Riley
 ---------------------------------------
 Bryant R. Riley

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