------------------------------ OMB APPROVAL ------------------------------ ___ Check this box if no longer subject to OMB Number 3235-0287 Section 16. Form 4 or Form 5 obligations Expires: January 31, 2005 may continue. See Instruction 1(b) Estimated average burden hours per response ....... 0.5 ------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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 (Print or Type Responses) ____________________________________________________________________________ 1. Name and Address of Reporting Person* Mitchell James K. _____________________________________________________________________________ (Last) (First) (Middle) 9710 Scranton Rd. Ste. 100 _____________________________________________________________________________ (Street) San Diego CA 92121 ____________________________________________________________________________ (City) (State) (Zip) ____________________________________________________________________________ 2. Issuer Name and Ticker or Trading Symbol Detwiler, Mitchell & Co. (Nasdaq: DMCO) ____________________________________________________________________________ 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) ____________________________________________________________________________ 4. Statement for Month/Year 08/2002 ____________________________________________________________________________ 5. If Amendment, Date of Original (Month/Year) ============================================================================ 6. Relationship of Reporting Person to Issuer (Check all applicable) [X] Director [_] 10% Owner [X] Officer (give title below) [_] Other (specify below) Chairman and Chief Executive Officer ____________________________________________________________________________ 7. Individual or Joint/Group Filing (Check applicable line) [X] Form filed by 1 Reporting Person [_] Form filed by more than 1 Reporting Person ____________________________________________________________________________ ============================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ============================================================================

6. 4. 5. Owner- Securities Acquired (A) or Amount of ship 3. Disposed of (D) Securities Form: 7. Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Code -------------------------- Owned at End (D) or Indirect 1. Transaction (Instr. 8) (A) Price of Month Indirect Beneficial Title of Security Date ---------- Amount or (Instr. 3 (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr. 4) (Instr. 4) ------------------------------------------------------------------------------------------------------------ ~~Common Stock 09/17/2001 P 1,000 A $1.65 182,507* D~~ --------------------------------------------------------------------------------------------------------------- Common Stock 8/20/2002 P 15,000 A $0.70 212,288*** D --------------------------------------------------------------------------------------------------------------- Common Stock 8/21/2002 P 800 A $0.75 212,288*** D --------------------------------------------------------------------------------------------------------------- Common Stock 8/21/2002 P 2,200 A $0.76 212,288*** D --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- ===============================================================================================================

***Includes 1,325 shares owned by spouse of Reporting Person to which Reporting Person disclaims beneficial Ownership. Also includes approximately 12,327 shares held in 401(k) Plan of issuer representing matching contributions to Reporting Person's account since inception and 636 shares held in employer's now inactive Employee Stock Purchase Plan ("ESPP"). 401(k) and ESPP shares are being voluntarily reported in total shares owned. Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) =============================================================================

10. 9. Owner- Number ship of Form 2. Deriv- of Conver- 5. 7. ative Deriv- 11. sion Number of Title and Amount Secur- ative Nature or Derivative 6. of Underlying 8. ities Secur- of Exer- 4. Securities Date Securities Price Bene- ity: In- cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene- 1. of action Code of (D) (Month/Day/Year) Amount ative at End In- ficial Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner- Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship Security Secur- Day/ ------- ------------- Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Incentive $3.876 12/13/ 12/13/ Common 31,250 $3.876 31,250 D Stock 2000 2004 Stock Option (right to buy)**** --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------- =====================================================================================================================

Explanation of Responses: **** Previously reported. /s/ James K. Mitchell 8/29/2002 --------------------------------------------- -------------------- **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 provided is insufficient, see Instruction 6 for procedure.

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