CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
August 23, 2010
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(Date of Report)
ALANCO TECHNOLOGIES, INC.
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(Exact name of Registrant as specified in its charter)
0-9437
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(Commission File No.)
ARIZONA 86-0220694
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(State of other jurisdiction( (IRS Employer Identification No.)
15575 N 83RD WAY, SUITE 3, SCOTTSDALE, ARIZONA 85260
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(Address of Principal Executive Office) (Zip Code)
(480) 607-1010
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(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2. below):
( ) Written communication pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
( ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
( ) Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
( ) Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement
Item 2.01 Completion of Acquisition or Disposition of Assets
Effective August 17, 2010, the Company sold substantially all of the assets of
its wholly owned subsidiary, Alanco/TSI PRISM, Inc. to Black Creek Integrated
Systems Corp for cash consideration of $2,000,000 and a potential earn out. The
consideration received was paid to the Company's secured creditors.
Item 9.01
Exhibit 99.0 Asset Purchase Agreement
Exhibit 99.1 August 18, 2010 press release entitled "Alanco Completes
Divestiture of TSI PRISM Subsidiary; Refocused Alanco/
StarTrak On Pace to Grow Over 35% in FY11 With Revenues
Exceeding $20 Million and Positive EBITDA"
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SIGNATURES
Date: August 23, 2010 By: /s/John A Carlson
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Chief Financial Officer