ALANCO TECHNOLOGIES INC

CIK:0000098618|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Condensed Consolidated Statements Of Operations
NET REVENUES	$ 700	$ 13,800	$ 10,400	$ 185,900
Cost of revenues	81,300	114,800	256,700	507,400
GROSS LOSS	(80,600)	(101,000)	(246,300)	(321,500)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
Corporate expenses	58,500	73,500	235,500	274,700
Alanco Energy Services	124,100	154,600	389,300	467,900
Stock-based compensation				27,800
Impairment charge	350,000		350,000
Selling general and administrative expenses	532,600	228,100	974,800	770,400
OPERATING LOSS	(613,200)	(329,100)	(1,221,100)	(1,091,900)
OTHER INCOME AND (EXPENSE)
Interest income	0	7,100	4,800	21,800
Interest expense	(18,400)	0	(44,700)	0
Other income	0	0	400	0
LOSS FROM CONTINUING OPERATIONS			(1,260,600)	(1,070,100)
DISCONTINUED OPERATIONS
Loss from discontinued operations	0	0	(176,000)	0
LOSS FROM DISCONTINUED OPERATIONS	0	0	176,000	0
NET LOSS	$ (631,600)	$ (322,000)	$ (1,436,600)	$ (1,070,100)
NET LOSS PER SHARE - BASIC AND DILUTED
Continuing operations	$ 0.00	$ 0.00	$ (0.25)	$ (0.21)
Discontinued operations	0.00	0.00	(0.04)	0.00
Net loss per share	$ (0.13)	$ (0.06)	$ (0.29)	$ (0.21)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - BASIC AND DILUTED	4,982,400	4,982,400	4,982,400	4,982,400

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,436,600)	$ (1,070,100)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	137,700	137,700
Accretion of fair value - contingent payments	14,000	14,100
Stock-based compensation for options	0	27,800
Reserve recorded for American Citizenship Center, LLC note receivable	0	50,000
Exercisable warrants issued under note payable to Anderson Family Trust	5,300	0
Gain on sale of equipment	(400)	0
Impairment charge on long-lived assets	350,000	0
Changes in operating assets and liabilities:
Accounts receivable - trade	(4,000)	37,800
Other receivables - related party	2,800	(900)
Prepaid expenses and other current assets	22,500	135,600
Trust account - asset retirement obligation	(15,400)	(14,100)
Accounts payable and accrued expenses	230,300	(21,900)
Net cash used in operating activities	(693,800)	(704,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from repayment of American Citizenship Center, LLC note receivable	0	27,400
Purchase of land, property, and equipment	(2,200)	(6,800)
Proceeds from sale of equipment	7,500	0
Net cash provided by investing activities	5,300	20,600
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from note payable to Anderson Family Trust	550,000	0
Net cash provided by financing activities	550,000	0
NET DECREASE IN CASH AND CASH EQUIVALENTS	(138,500)	(683,400)
CASH AND CASH EQUIVALENTS, beginning of period	139,600	788,900
CASH AND CASH EQUIVALENTS, end of period	1,100	105,500
Non-cash investing & financing activities:
Value of stock-based compensation for options	0	27,800
Value of exercisable warrants issued under note payable to Anderson Family Trust	5,300	0
Other comprehensive income adjustment	400	0
Gain on sale of equipment	$ 350,000	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 1,100	$ 139,600
Accounts receivable - trade, net	7,900	3,900
Other receivables - related party	0	2,800
Assets held for sale	0	1,653,500
Prepaid expenses and other current assets	24,800	47,300
Total current assets	33,800	1,847,100
PROPERTY AND EQUIPMENT, NET	1,617,200	2,111,000
OTHER ASSETS
Assets held for sale	1,654,700	0
Trust account - asset retirement obligation	101,500	86,100
TOTAL ASSETS	3,407,200	4,044,200
CURRENT LIABILITIES
Accounts payable	301,100	251,400
Accrued expenses	326,800	146,200
Note payable - related party - current	750,000	0
Total current liabilities	1,377,900	397,600
LONG-TERM LIABILITIES
Note payable - related party - noncurrent	0	200,000
Contingent payments, long-term	686,700	672,700
Asset retirement obligation	434,000	434,000
TOTAL LIABILITIES	2,498,600	1,704,300
SHAREHOLDERS' EQUITY
Preferred Stock - no shares issued or outstanding	0	0
Common Stock Class A - 75,000,000 no par shares authorized, 4,982,400 shares issued and outstanding at March 31, 2017 and June 30, 2016	109,193,500	109,188,200
Accumulated Deficit	(108,284,900)	(106,848,300)
Total shareholders' equity	908,600	2,339,900
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 3,407,200	$ 4,044,200