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
March 19, 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 3.01 Alanco Appeal of Failure to Satisfy a Continued Listing Rule
or Standard.
On March 16, 2010, the Company received a Nasdaq Staff Determination letter
indicating that the Company fails to comply with the minimum $1.00 bid price
requirement for continued listing as set forth in Nasdaq Listing Rule 5550(a)(2)
(the "Rule") and that its securities are, therefore, subject to delisting from
the Nasdaq Capital Market at the opening of business on March 25, 2010.
Pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series,
the Company has elected to appeal the Nasdaq Staff's determination to the
Nasdaq Hearings Panel (the "Panel"). Although there can be no assurance that
the Panel will grant the Company's request for continued listing, the request
for the hearing will stay the delisting of the Company's stock from the Nasdaq
Capital Market pending the Panel's decision.
A copy of the press release is attached.
Item 8.01 Other Events
In a separate event, the Company received a Letter of Reprimand dated March 17,
2010 for violation of Nasdaq's voting rights rule (previously discussed
in a press release dated February 3, 2010) and policy set forth in Listing Rule
5640 and IM-5640 (collectively, the "Rules") as it pertains to voting rights
of Series E Convertible Preferred Stock shareholders. Since the Company acted
in a prompt and efficient manner to cure the deficiency after it received
notification, Nasdaq's action was limited to a Letter of Reprimand. The
potential maximum effect of over voting amounted to less than 1% of eligible
votes and did not change the outcome of any proposal considered in the meeting.
Item 9.01
Exhibit 99.1 March 19, 2010 press release entitled "Alanco Receives
NASDAQ Listing Notification And Initiates Formal Appeal
Process."
SIGNATURES
Date: March 19, 2010 By: /s/John A Carlson
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Chief Financial Officer