SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D
(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. 8)(1)

ALLIANCE SEMICONDUCTOR CORPORATION
(Name of Issuer)

COMMON STOCK
(Title of Class of Securities)

01877H100
(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)

AUGUST 28 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. 01877H100 13D Page 2


--------------------------------------------------------------------------------
1. Name of Reporting Persons.
 I.R.S. Identification Nos. of above persons (entities only).

 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 If Disclosure of Legal Proceedings Is Required Pursuant to
 Items 2(d) or 2(e) [_]

--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
 Cayman Islands
--------------------------------------------------------------------------------
 7. Sole Voting Power
 NUMBER OF 2,827,457
 SHARES -----------------------------------------------------------------
BENEFICIALLY 8. Shared Voting Power
 OWNED BY -0-
 EACH -----------------------------------------------------------------
 REPORTING 9. Sole Dispositive Power
 PERSON 2,827,457
 WITH -----------------------------------------------------------------
 10. Shared Dispositive Power
 -0-
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
 2,827,457
--------------------------------------------------------------------------------
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
 [_]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
 8.6%(1)
--------------------------------------------------------------------------------
14. Type of Reporting Person*
 PN
--------------------------------------------------------------------------------
__________________________
(1) Based on 33,047,882 shares of common stock of Alliance Semiconductor
Corporation (the "Issuer") outstanding at July 31, 2008 as reported in the
Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30,
2008 filed with the Securities and Exchange Commission on August 21, 2008.


CUSIP No. 01877H100 13D Page 3


--------------------------------------------------------------------------------
1. Name of Reporting Persons.
 I.R.S. Identification Nos. of above persons (entities only).

 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 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
 NUMBER OF 3,333,086(2)
 SHARES -----------------------------------------------------------------
BENEFICIALLY 8. Shared Voting Power
 OWNED BY 1,761,555(3)
 EACH -----------------------------------------------------------------
 REPORTING 9. Sole Dispositive Power
 PERSON 3,333,086(2)
 WITH -----------------------------------------------------------------
 10. Shared Dispositive Power
 1,761,555(3)
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
 4,525,906(3)
--------------------------------------------------------------------------------
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
 [X]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
 13.7%(1)
--------------------------------------------------------------------------------
14. Type of Reporting Person*
 IA
--------------------------------------------------------------------------------
__________________________
(2) Because Riley Investment Management LLC has sole investment and voting power
over 2,827,457 shares of Common Stock held by Riley Investment Partners Master
Fund, L.P. and 505,629 shares held 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
1,761,555 shares of Common Stock held by its investment advisory clients,
1,192,820 of which are held by investment advisory accounts indirectly
affiliated with Bryant Riley or Riley Investment Partners Master Fund, L.P.
However, Riley Investment Management LLC disclaims beneficial ownership of the
non-affiliated shares.


CUSIP No. 01877H100 13D Page 4


--------------------------------------------------------------------------------
1. Name of Reporting Persons.
 I.R.S. Identification Nos. of above persons (entities only).

 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 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
 NUMBER OF 391,838
 SHARES -----------------------------------------------------------------
BENEFICIALLY 8. Shared Voting Power
 OWNED BY 338,541(4)
 EACH -----------------------------------------------------------------
 REPORTING 9. Sole Dispositive Power
 PERSON 391,838
 WITH -----------------------------------------------------------------
 10. Shared Dispositive Power
 338,541(4)
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
 730,379
--------------------------------------------------------------------------------
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
 [_]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
 2.2%(1)
--------------------------------------------------------------------------------
14. Type of Reporting Person*
 BD
--------------------------------------------------------------------------------
__________________________
(4) B. Riley & Co., LLC has shared voting and dispositive power over 338,541
shares of Common Stock held by a managed account, with which it is indirectly
affiliated.


CUSIP No. 01877H100 13D Page 5


--------------------------------------------------------------------------------
1. Name of Reporting Persons.
 I.R.S. Identification Nos. of above persons (entities only).

 B. Riley & Co. Retirement Trust
--------------------------------------------------------------------------------
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 If Disclosure of Legal Proceedings Is Required Pursuant to
 Items 2(d) or 2(e) [_]

--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
 California
--------------------------------------------------------------------------------
 7. Sole Voting Power
 NUMBER OF 98,000
 SHARES -----------------------------------------------------------------
BENEFICIALLY 8. Shared Voting Power
 OWNED BY -0-
 EACH -----------------------------------------------------------------
 REPORTING 9. Sole Dispositive Power
 PERSON 98,000
 WITH -----------------------------------------------------------------
 10. Shared Dispositive Power
 -0-
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
 98,000
--------------------------------------------------------------------------------
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
 [_]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
 0.3%(1)
--------------------------------------------------------------------------------
14. Type of Reporting Person*
 EP
--------------------------------------------------------------------------------


CUSIP No. 01877H100 13D Page 6


--------------------------------------------------------------------------------
1. Name of Reporting Persons.
 I.R.S. Identification Nos. of above persons (entities only).

 BR Investco, 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 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
 NUMBER OF 100
 SHARES -----------------------------------------------------------------
BENEFICIALLY 8. Shared Voting Power
 OWNED BY -0-
 EACH -----------------------------------------------------------------
 REPORTING 9. Sole Dispositive Power
 PERSON 100
 WITH -----------------------------------------------------------------
 10. Shared Dispositive Power
 -0-
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
 100
--------------------------------------------------------------------------------
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
 [_]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
 0.0%(1)
--------------------------------------------------------------------------------
14. Type of Reporting Person*
 OO
--------------------------------------------------------------------------------


CUSIP No. 01877H100 13D Page 7


--------------------------------------------------------------------------------
1. Name of Reporting Persons.
 I.R.S. Identification Nos. of above persons (entities only).

 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, WC
--------------------------------------------------------------------------------
5. Check If Disclosure of Legal Proceedings Is Required Pursuant to
 Items 2(d) or 2(e) [_]

--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
 United States
--------------------------------------------------------------------------------
 7. Sole Voting Power
 NUMBER OF 4,087,473(5)
 SHARES -----------------------------------------------------------------
BENEFICIALLY 8. Shared Voting Power
 OWNED BY 2,100,647(6)
 EACH -----------------------------------------------------------------
 REPORTING 9. Sole Dispositive Power
 PERSON 4,087,473(5)
 WITH -----------------------------------------------------------------
 10. Shared Dispositive Power
 2,100,647(6)
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
 5,619,385(5)
--------------------------------------------------------------------------------
12. Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
 [X]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
 17%(1)
--------------------------------------------------------------------------------
14. Type of Reporting Person*
 IN
--------------------------------------------------------------------------------
__________________________
(5) Because Riley Investment Management LLC has sole voting and investment power
over Riley Investment Partners Master Fund, L.P.'s security holdings and
holdings of certain investment advisory clients and Mr. Riley, in his role as
the sole manager of Riley Investment Management LLC, controls its voting and
investment decisions, Riley Investment Management LLC, and Mr. Riley may be
deemed to have beneficial ownership of the 2,827,457 shares of Common Stock held
by Riley Investment Partners Master Fund, L.P and 505,629 shares held by
investment advisory clients. Includes 98,000 shares beneficially owned by B.
Riley & Co. Retirement Trust. Because Mr. Riley, in his role as Trustee of the
B. Riley & Co. Retirement Trust, controls its voting and investment decisions,
Mr. Riley may be deemed to have beneficial ownership of these shares. Includes
391,287 shares of Common Stock owned by B. Riley & Co., LLC. Includes 100 shares
beneficially owned by BR Investco, LLC, an entity controlled by Mr. Riley.
Includes 265,000 shares owned by Mr. Riley.

(6) Riley Investment Management LLC has shared voting and dispositive power over
1,761,555 shares of Common Stock held by its investment advisory clients,
1,192,820 of which are held by investment advisory accounts indirectly
affiliated with Bryant Riley or Riley Investment Partners Master Fund, L.P.
Although Mr. Riley controls Riley Investment Management LLC's voting and
investment decisions for its investment advisory clients, Mr. Riley disclaims
beneficial ownership of the non-affiliated shares. B. Riley & Co., LLC has
shared voting and dispositive power over 338,541 shares of Common Stock and sole
voting and dispositive power over 551 shares of Common Stock. Mr. Riley is the
Chairman and sole indirect equity owner of B. Riley & Co., LLC. Mr. Riley is the
Chairman and sole indirect equity owner of B. Riley & Co., LLC.


CUSIP No. 01877H100 13D Page 8



ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

 Item 5(c) as previously filed is amended to add the following
 information:

 In the ordinary course of business, B. Riley & Co., LLC may effect
 transactions in connection with its ordinary course market making
 activities, as well as for customer transactions. The following are the
 other transactions effected by the Reporting Persons in Common Stock that
 have taken place in the past 60 days through September 2, 2008:

 TRANS TRADE
 B. RILEY CODE QTY PRICE DATE
 BY 6,400 0.55 7/16/2008
 BY 2,500 0.55 7/16/2008
 BY 4,687 0.55 7/18/2008
 BY 100 0.55 7/18/2008
 BY 10,000 0.55 7/21/2008
 BY 12,500 0.8 8/20/2008
 SL 15,000 0.8 8/21/2008

 TRANS TRADE
 MASTER CODE QUANTITY PRICE DATE
 BY 35,500 0.6 8/1/2008
 BY 200,000 0.8 8/18/2008
 BY 55,700 0.926 8/28/2008
 BY 179,200 0.8996 8/29/2008


CUSIP No. 01877H100 13D Page 9

 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: September 2, 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

 BR Investco, LLC

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

 /s/ Bryant R. Riley
 ---------------------------------------
 Bryant R. Riley

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