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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25 SEC File Number 0-15399
CUSIP Number 862684107
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-KSB
For Period Ended:
MARCH 31, 1996
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Read attached instruction sheet before preparing form. Please print or type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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Part I - Registrant Information
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DREAMS, INC.
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Full Name of Registrant
STRATAMERICA CORPORATION
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Former Name if Applicable
42-620 CAROLINE COURT
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Address of Principal Executive Office (Street and Number)
PALM DESERT, CALIFORNIA 92211
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City, State and Zip Code
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Part II - Rules 12b-25(b) and (c)
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If the subject report could not be filed without unreasonable effort or
expense and the Registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate).
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense:
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[X] (b) The subject annual report or semi-annual report/portion thereof will
be filed on or before the fifteenth calendar day following the
prescribed due date; or the subject quarterly report/portion thereof
will be flied on or before the fifth calendar day following the
prescribed due date; and
[X] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
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Part III - Narrative
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State below in reasonable detail the reasons why the Form 10-KSB, 11-K, 20-F,
10-Q or N-SAR or portion thereof could not be filed within the prescribed
time period.
See attached.
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Part IV - Other Information
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(1) Name and telephone number of person to contact in regard to this
notification.
J. SCOTT HUNTER (801) 532-3000
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
Registrant was required to file such report(s) been filed? If answer no
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion
thereof?
[ ] Yes [X] No
If so: Attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dreams, Inc.
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date By:
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Dale E. Larsson
Secretary
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FORM 12B-25 NOTIFICATION OF LATE FILING
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Dreams, Inc.
42-620 Caroline Court
Palm Desert, California 92211
PART III - NARRATIVE (ATTACHMENT)
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We are unable to file Form 10-KSB on or before the date it is required to be
filed because the audit examination of StratAmerica Corporation has not yet been
completed.
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[LETTERHEAD]
June 27, 1996
Mr. Dale E. Larsson
Chief Financial Officer
Dreams, Inc.
P.O. Box 220
Orem, UT 84059
Dear Mr. Larsson:
You have furnished us with a copy on your "Notification of Late Filing" on
Form 12b-25 dated June 27, 1996.
We are in agreement with the comments under Part III of the Form with respect
to the reasons why we are unable to furnish our report on the financial
statements of Dreams, Inc. (formerly StratAmerica Corporation) on or before
the Form 10-KSB of Dreams, Inc. for the year ended March 31, 1996 is required
to be filed.
Yours very truly,
/s/ Price Waterhouse LLP
