SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

OESTER GREG M

(Last)

(First)

(Middle)

C/O TECHNOLOGY SYSTEMS INTERNATIONAL INC

15575 N 83RD WAY, STE 4

(Street)

SCOTTSDALE

85260

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/31/2003

3. Issuer Name and Ticker or Trading Symbol
ALANCO TECHNOLOGIES INC [ alan ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director		10% Owner
Officer (give title below)	X	Other (specify below)
		Officer of Primary Subsidiary

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	2,888	D
Class A Common Stock	30,344	I	Lynda Oester
Series A Convertible Preferred Stock⁽¹⁾	10,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock Option	01/20/1999	01/20/2009	Class A Common Stock	50,000	$0.75	D
Class A Common Stock Option	04/15/1999	04/15/2009	Class A Common Stock	40,000	$1	D
Class A Common Stock Option	06/16/1999	06/15/2009	Class A Common Stock	50,000	$0.75	D
Class A Common Stock Option	05/31/2002	05/31/2012	Class A Common Stock	750,000	$1	D
Class A Common Stock Warrant⁽¹⁾	06/17/2003	06/30/2008	Class A Common Stock	10,000	$0.5	D
Class A Common Stock Option	07/31/2003	07/31/2013	Class A Common Stock	100,000	$0.37	D

Explanation of Responses:

1. The Series A Convertible Preferred Stock acquired by the reporting person was received in exchange for two shares of the Company's Class A Common Stock and $.50 for each share of Series A Convertible Preferred Stock ("Series A Preferred"). In addition to the Series A Preferred Stock, the investor will receive a warrant to purchase the Company's Class A Common Stock for each share of Series A Preferred Stock acquired, at a strike price of $.50. The Series A Preferred shares are convertible into three (3) shares of Class A Common Stock. The Preferred stock has not yet been issued as of 8/20/2003.

	Greg M. Oester	08/20/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.