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

September 21, 2011

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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 or other jurisdiction)    (IRS Employer Identification No.)

7950 E. ACOMA DRIVE, SUITE 11, 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 1.02                        Termination of a Material Definitive Agreement

 On June 29, 2011 Alanco announced that it executed a definitive agreement (see 8-K filed on June 30, 2011) to merge with YuuZoo Corporation (www.yuuzoo.com), a global provider of

 mobile targeted social networks, targeted advertising and mobile payment systems.  The agreement was terminated on September 20, 2011 due to market conditions and our inability to

 complete due diligence.

Exhibit 99.1 Alanco Technologies, Inc. press release dated September 20, 2011 titled Alanco and YuuZoo Terminate Merger Agreement

SIGNATURES

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.

Alanco Technologies, Inc.

       By   /s/ John A. Carlson                                                      

Name: John A. Carlson

Title:   Director, Executive VP and CFO

Date: September 21, 2011

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

CONTACTS:

John Carlson, Alanco Technologies, Inc., 480-505-4869

Alanco and YuuZoo Terminate Merger Agreement

(Scottsdale, AZ – September 20, 2011) – Alanco Technologies, Inc. (OTCBB: ALAN.OB) today disclosed mutual termination of its June 29, 2011 agreement to merge with mobile internet provider, YuuZoo Corporation.

Robert R. Kauffman, Alanco Chairman and CEO commented “We are obviously disappointed in this outcome, following intensive efforts by both Alanco and YuuZoo to consummate the merger.  Going forward, we will

continue to aggressively pursue new investment opportunities to enhance shareholder value utilizing our valuable public listing, and debt-free balance sheet with cash and securities totaling approximately $6 million.”

Thomas Zilliacus, YuuZoo Chairman and CEO added “We share the disappointment expressed by Alanco.  We will continue to seek a liquidity event that enables us to take advantage of our strong business

momentum and very positive outlook.”

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 OUR PRODUCTS; COMPETITIVE PRICING AND DIFFICULTY MANAGING PRODUCT COSTS; DEVELOPMENT OF NEW TECHNOLOGIES; RAPID INDUSTRY CHANGES;

FAILURE OF AN ACQUIRED BUSINESS TO FURTHER THE COMPANY’S STRATEGIES; THE ABILITY TO MAINTAIN SATISFACTORY RELATIONSHIPS WITH LENDERS AND REMAIN IN COMPLIANCE

WITH FINANCIAL COVENANTS AND OTHER REQUIREMENTS UNDER CURRENT BANKING AGREEMENTS.  THE COMPANY’S RISKS INCLUDE BUT ARE NOT LIMITED TO COSTS RELATED TO

THE PROPOSED TRANSACTION; FAILURE TO OBTAIN THE REQUIRED APPROVAL OF THE ALANCO SHAREHOLDERS; RISKS THAT THE CLOSING OF THE TRANSACTION IS SUBSTANTIALLY DELAYED

OR THAT THE TRANSACTION DOES NOT CLOSE; AND MARKET RISK ASSOCIATED WITH HOLDING THE ORBCOMM STOCK.

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