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
SEPTEMBER 20, 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 of 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 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
On September 19, 2007, the U.S. Bankruptcy Court, having jurisdiction over the
bankruptcy case of Technology Systems International, Inc. ("TSIN"), approved a
Settlement and Mutual Release Agreement between the Company and TSIN with
respect to the lawsuit initiated by TSIN concerning the purchase by the
Company of the assets of TSIN effective June of 2002. The agreement provides
for resolution of the lawsuit based upon a valuation of the TSIN assets acquired
to be performed by an independent appraiser. The Company believes the valuation
will show that the Company paid not less than fair value for the TSIN assets.
Item 9.01
Exhibit 99.1 Settlement Agreement and Mutual Release
SIGNATURES
Date: September 20, 2007 By: /s/John A Carlson
-----------------------
Chief Financial Officer