"As soon as the areas in which I am continuing to work have been completed, I will no longer be involved in the club," said Ridsdale in a statement.
Argyle faced a winding-up order over a £760,000 debt to HM Revenue & Customs.
Earlier this month a High Court judge granted the club and a related company, Home Park Properties, 63 days to clear their debts.
Ridsdale has been advising the Pilgrims on their financial plight and there have been claims the former Leeds United and Cardiff City chairman could have been employed in a full-time role at Home Park.
Short of Mr Abdul Moneybags or the like turning up out of the blue, I fail to see where the club is going financially.
sensiblegreeny
"During recent weeks I have been in discussions with representatives of shareholders in Plymouth Argyle Football Club with regard to the ongoing need for investment and help," said Ridsdale.
"I have been attempting to be of assistance on an advisory basis and there are some issues outstanding on which I will continue to advise," he added.
Source: BBC Sport
Source: BBC Sport