SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, D.C. 20549

                                   FORM 8-K

                                 CURRENT REPORT

                        Pursuant to Section 13 or 15(d) of
                        The Securities Exchange Act of 1934

                                 August 8, 2007
                                (Date of Report)


                            ALANCO TECHNOLOGIES, INC.
             (Exact name of Registrant as specified in its charter)

                                    0-9437
                            (Commission File No.)

               Arizona                                  86-0220694
      (State or other jurisdiction)         ( IRS Employer Identification No.)

               15575 N 83RD WAY, SUITE 3, SCOTTSDALE, ARIZONA 85260
              (Address of Principal Executive Office)      (Zip Code)

                                  (480)607-1010
              (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 CRF 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 240.134-4(c))

Item 1.01 Entry into a Material Definitive Agreement
Item 3.02 Unregistered Sales of Equity Securities

On August 8, 2007, the Company completed the sale of 1,954,000 shares of
the Company's Class A Common Stock and three-year warrants to purchase 781,600
shares at an exercise price of $3.00 per share, in private offerings to non-
affiliated investors.  The Company received $3,727,000, net of costs, from the
transaction.



Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 - Stock Purchase Agreement - Offering I
Exhibit 99.2 - Registration Rights Agreement - Offering I
Exhibit 99.3 - Warrant Agreement - Offering I
Exhibit 99.4 - Form of Private Placement Memorandum - Offering II
Exhibit 99.5 - Declaration of Registration Rights - Offering II
Exhibit 99.6 - Warrant Agreement - Offering II

                                    SIGNATURE

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.

Date: August 8, 2007                       ALANCO TECHNOLOGIES, INC.
                                        By: /s/ John A. Carlson
                                           --------------------
                                           Chief Financial Officer