<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-02-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000098618</issuerCik>
        <issuerName>ALANCO TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>ALAN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001368615</rptOwnerCik>
            <rptOwnerName>Slifkin Timothy P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>106 AMERICAN ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MORRIS PLAINS</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07950</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>CEO - Wholly Owned Subsidiary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-02-27</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2009-02-27</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>14635</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.31</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2268115</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Class A Common Stock in Lieu of Cash for Series D Preferred Dividends at a rate of $0.31 per Share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Timothy P. Slifkin</signatureName>
        <signatureDate>2009-02-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
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X0303
4
2009-02-27
0
0000098618
ALANCO TECHNOLOGIES INC
ALAN
0001368615
Slifkin Timothy P
106 AMERICAN ROAD
MORRIS PLAINS
NJ
07950
0
1
0
0
CEO - Wholly Owned Subsidiary
Class A Common Stock
2009-02-27
2009-02-27
4
J
0
14635
.31
A
2268115
D
Class A Common Stock in Lieu of Cash for Series D Preferred Dividends at a rate of $0.31 per Share.
Timothy P. Slifkin
2009-02-27