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
JULY 13,2006
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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 safisfy 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 2.03 Creation of a Direct Financial Obligation
In an amendment, signed July 13, 2006 and made effective June 30, 2006, to the
Company's Line of Credit with a trust, the maximum credit line was increased
to $2.0 million from $1.5 million. The required minimum amount outstanding
under the agreement was increased to $1,500,000 from $1,000,000.
Either the Lender or the Company may reduce the Credit Limit back to $1,500,000
and the minimum amount outstanding to $1,000,000 upon thirty (30) day notice.
Donald Anderson, a Trustee of the Trust, is a member of Company's Board of
Directors and owns approximately 17% of the Company's Stock.
Item 9.01 Financial Statements and Exhibits
Exhibits 99.1 Fourth Amendment to Loan and Security Agreement.
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: July 13, 2005 ALANCO TECHNOLOGIES, INC.
By: /s/John A Carlson
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Chief Financial Officer