8-K

UNITED STATES

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

Date of Report (Date of earliest event reported) June 6, 2007

DREAMS, INC.

(Exact name of registrant as specified in its charter)

Utah	000-30310	87-0368170
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2 South University Drive, Plantation, Florida	33324
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (954) 377-0002

Registrant’s facsimile number, including area code: (954) 475-8785

Not Applicable

(Former name or former address, if changed since last report)

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 communications 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 8.01 Other Events.

Dreams, Inc. (the “Company”) has announced that it has entered into an $18 million credit facility with Comerica Bank which includes a $15 million working capital revolver and $3 million earmarked for the cash portion of future strategic acquisitions by the Company.

A copy of the press release is attached hereto. Transaction documents will be filed by amendment to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release dated June 6, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: June 6, 2007	DREAMS, INC.
	By:	/S/ ROSS TANNENBAUM
		Chief Executive Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release dated June 6, 2007

EX-99.1

Exhibit 99.1

DREAMS NAMES COMERICA BANK AS ITS NEW SENIOR LENDER

Plantation, FL: June 6, 2007: Dreams, Inc. (AMEX:DRJ), a vertically integrated leader in the licensed sports products industry, announced that it has entered into a loan and security agreement with Comerica Bank that will improve the liquidity and working capital structure for its newly AMEX-listed company.

“Dreams will now transition from its current $10 million asset-based credit facility and move towards a more traditional cash-flow lending arrangement with Comerica who is providing $18 million in credit facilities; $15 million in a working capital revolver and $3 million earmarked for the cash portion of future strategic acquisitions, explained Ross Tannenbaum, president & CEO of Dreams, Inc. We believe Comerica will be an excellent long term partner for our company as we seek to be a consolidator in this highly fragmented industry.”

This move will also allow for meaningful costs savings with better pricing. In addition, we will seek to improve our entire treasury management landscape by working with the Comerica team and their market-leading products and technology,” concluded Tannenbaum.

Comerica Bank was established over 150 years ago and is one of the top 20 largest banks in the U.S.

DREAMS, INC. trades under the ticker symbol: AMEX:DRJ

www.dreamscorp.com

Dreams, Inc. Investor Relations Contact Info:

David M. Greene, Senior Vice-President

Phone: 954-377-0002

Fax: 954-475-8785

dgreene@dreamscorp.com

Public Relations for Dreams, Inc.:

Boardroom Communications

Jennifer Clarin and/or Caren Berg

Phone: (954) 370-8999, Fax: (954) 370-8892

Email: jclarin@boardroompr.com

Statements contained in this press release, which are not historical facts, are forward looking statements. The forward-looking statements in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made herein contain a number of risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, but are not limited to, specific factors impacting the Company’s business including increased competition; the ability of the company to expand its operations and attract and retain qualified personnel, the uncertainty of consumer’s desires for sports and celebrity memorabilia; the availability of product; availability of financing; the ability to sell additional franchises; and general economic conditions.