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 FEBRUARY 27, 2009 ----------------- (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 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 On February 26, 2009, the Company executed an amended promissory note extending terms until June 1, 2009. Item 9.01 Financial Statements and Exhibits Exhibits 99.1 Form of Amended and Restated Promissory Note. 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: February 27, 2009 ALANCO TECHNOLOGIES, INC. By: /s/John A Carlson ----------------------- Chief Financial Officer