-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SJVPOhaJJy3ZICB9aK7nckPSit198ycRye1aFWSFeEpYkCUbI8wxnOVvmhQ5OGRL
 ZhrAzI2x7zQiY7QLS+1WHQ==

<SEC-DOCUMENT>0001181431-08-057131.txt : 20081014
<SEC-HEADER>0001181431-08-057131.hdr.sgml : 20081013
<ACCEPTANCE-DATETIME>20081014143602
ACCESSION NUMBER:		0001181431-08-057131
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081010
FILED AS OF DATE:		20081014
DATE AS OF CHANGE:		20081014

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREAMS INC
		CENTRAL INDEX KEY:			0000810829
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-HOBBY, TOY & GAME SHOPS [5945]
		IRS NUMBER:				870368170
		STATE OF INCORPORATION:			UT
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2 SOUTH UNIVERSITY DRIVE
		STREET 2:		SUITE 325
		CITY:			PLANTATION
		STATE:			FL
		ZIP:			11111
		BUSINESS PHONE:		9543770002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	STRATAMERICA CORP
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Frost Gamma Investments Trust
		CENTRAL INDEX KEY:			0001380896

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33405
		FILM NUMBER:		081121765

	BUSINESS ADDRESS:	
		STREET 1:		4400 BISCAYNE BOULEVARD, 15TH FLOOR
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33137
		BUSINESS PHONE:		305-575-6000

	MAIL ADDRESS:	
		STREET 1:		4400 BISCAYNE BOULEVARD, 15TH FLOOR
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33137

	FORMER NAME:	
		FORMER CONFORMED NAME:	Frost Gamma Investment Trust
		DATE OF NAME CHANGE:	20061113
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd220977.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-10-10</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000810829</issuerCik>
        <issuerName>DREAMS INC</issuerName>
        <issuerTradingSymbol>DRJ</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001380896</rptOwnerCik>
            <rptOwnerName>Frost Gamma Investments Trust</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4400 BISCAYNE BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2>15TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>MIAMI</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33137</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-10-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.75</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>192500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5128205</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The securities are held by Frost Gamma Investments Trust, of which Phillip Frost M.D., is the trustee and Frost Gamma, L.P. is the sole and exclusive beneficiary of Frost Gamma Investments Trust.  Dr. Frost is one of two limited partners of Frost Gamma, L.P.  The general partner of Frost Gamma, L.P. is Frost Gamma, Inc., and the sole shareholder of Frost Gamma, Inc. is Frost-Nevada Corporation.  Dr. Frost is also the sole shareholder of Frost-Nevada Corporation.  The reporting person disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F2">These securities are owned directly by The Frost Group, LLC.  Frost Gamma Investments Trust is a principal member of The Frost Group, LLC.  The reporting person disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Phillip Frost, M.D., as Trustee</signatureName>
        <signatureDate>2008-10-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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