8-K

                        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 4, 2008
                                (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 3.01

On July 29, 2008, Alanco Technologies, Inc. ("the Company") received a letter
from NASDAQ indicating that the Company was out of compliance with Marketplace
Rule 4351 and IM-4351 (the "Rules") concerning the issuance of Series D
Preferred Stock.  Following the Company's amendment to the voting rights
associated with the Series D Preferred Stock, NASDAQ staff has determined that
the Company has regained compliance with the Rules.

On August 4, 2008, the Company issued a press release announcing the compliance
notification, a copy of which is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 - Press release

                                   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 4, 2008                    ALANCO TECHNOLOGIES, INC.
                                        By: /s/ John A Carlson
                                        Chief Financial Officer

EX-99

Exhibit 99.1


FOR IMMEDIATE RELEASE



CONTACTS:    Alanco Investor Relations
             (480) 607-1010
             www.alanco.com



                       Alanco Receives NASDAQ Notification
                      Relative to Series D Preferred Stock

(Scottsdale, AZ - August 4, 2008) - Alanco Technologies, Inc. (NASDAQ: ALAN),
said today that it received a letter from NASDAQ on July 29, 2008, indicating
that the Company was out of compliance with Marketplace Rule 4351 and IM-4351
(the "Rules") concerning the issuance of 100,000 shares of Series D Preferred
Stock. The terms of the Series D Preferred Stock included a provision entitling
the investors to notification of any stockholders' meeting and the right to vote
with holders of its Class A Common Stock on any matters before them. The Series
D Preferred Stock allowed the investors to vote "the number of votes equal to
$10.00 divided by the NASDAQ closing market price for the Company's Class A
Common Stock on the record date for the stockholders meeting." Since the number
of votes was not limited, NASDAQ staff believed the Series D could be considered
a "super voting" security and therefore resulted in a violation of the Rules.

The Company has amended the designation of the Series D Preferred Stock stating
that its holders have seven votes per share. Accordingly, NASDAQ staff has
determined that the Company has regained compliance with the Rules and, subject
to the disclosure requirements, the matter is now closed.

Alanco Technologies, Inc. (NASDAQ:  ALAN), headquartered in Scottsdale, Arizona,
is a rapidly growing provider of wireless tracking and asset management
solutions through its StarTrak Systems and Alanco/TSI PRISM subsidiaries.
Corporate website:  www.alanco.com

StarTrak Systems is a leading provider of GPS tracking and wireless asset
management services to the transportation industry and the dominant provider of
tracking, monitoring and two-way control services to the refrigerated or
"Reefer" segment of the transportation marketplace. StarTrak products increase
efficiency and reduce costs of the refrigerated supply chain through the
wireless monitoring and control of critical Reefer data, including GPS location,
cargo temperatures and Reefer fuel levels. StarTrak offers complete integrated
solutions for refrigerated trailers, trucks, railcars, and containers.
Additional information is available at www.StarTrak.com.

Alanco/TSI PRISM is the leading provider of RFID real-time tracking technologies
for the corrections industry. TSI PRISM systems track and record the location
and movement of inmates and officers, resulting in enhanced facility safety and
security and significant staff productivity improvements. Utilizing proprietary
RFID (Radio Frequency Identification) tracking technology, TSI PRISM provides
real-time inmate and officer identification, location and tracking both indoors
and out, and is currently utilized in prisons in Michigan, California, Illinois,
Ohio, Missouri, Virginia, Indiana, and Minnesota. Additional information is
available at www.TSIPRISM.com.


The Company also participates in the data storage industry through its wholly
owned subsidiary, Excel Meridian Data, Inc. (EMD), which specializes in
providing unique data storage, backup and disaster recovery solutions. EMD
Storage product lines include: direct attached storage (DAS), network attached
storage (NAS) and storage area network (SAN) solutions for any size business. In
addition, EMD features partnerships with: EqualLogic, VMware, Microsoft,
DoubleTake and other industry leading hardware and software solution providers.
For more information visit: www.emdstorage.com

EXCEPT FOR HISTORICAL INFORMATION, THE STATEMENTS CONTAINED IN THIS PRESS
RELEASE ARE FORWARD-LOOKING STATEMENTS MADE PURSUANT TO THE SAFE HARBOR
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL SUCH
FORWARD-LOOKING STATEMENTS ARE SUBJECT TO, AND ARE QUALIFIED BY, RISKS AND
UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
EXPRESSED OR IMPLIED BY THOSE STATEMENTS. THESE RISKS AND UNCERTAINTIES INCLUDE,
BUT ARE NOT LIMITED TO, REDUCED DEMAND FOR INFORMATION TECHNOLOGY EQUIPMENT;
COMPETITIVE PRICING AND DIFFICULTY MANAGING PRODUCT COSTS; DEVELOPMENT OF NEW
TECHNOLOGIES WHICH MAKE THE COMPANY'S PRODUCTS OBSOLETE; RAPID INDUSTRY CHANGES;
FAILURE OF AN ACQUIRED BUSINESS TO FURTHER THE COMPANY'S STRATEGIES; THE ABILITY
TO MAINTAIN SATISFACTORY RELATIONSHIPS WITH LENDERS AND TO REMAIN IN COMPLIANCE
WITH FINANCIAL LOAN COVENANTS AND OTHER REQUIREMENTS UNDER CURRENT BANKING
AGREEMENTS; AND THE ABILITY TO SECURE AND MAINTAIN KEY CONTRACTS AND
RELATIONSHIPS.

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