**UNITED      STATES SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

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**Commission      File number: **

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**SKREEM      ENTERTAINMENT CORP.**

** **

**Nevada**

| Class                                  | Shares                outstanding | Date                                   |
|----------------------------------------|-----------------------------------|----------------------------------------|
| Common,                $.001 par value | 27,311,141                        |  September                5, 2007 |

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|                                                | Part                    I - Financial Information                                                                                                                                                                                                              |   |
|-----------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    1.                          | Unaudited                    Consolidated Financial Statements                                                                                                                                                                                                 |   |
|                                                |                                                                                                                                                                                                                                                           |   |
|                                                | Unaudited                    Balance Sheets as of June 30, 2007 and March 31, 2007                                                                                                                                                                             | 3      |
|                                                |                                                                                                                                                                                                                                                           |   |
|                                                | Unaudited                    Statements of Operations for the three months ended June 30,                    2007, and                    2006 and for the period from inception, August 19, 1999, through                    June 30,                    2007 | 4      |
|                                                |                                                                                                                                                                                                                                                           |   |
|                                                | Unaudited                    Statements of Cash Flows for the three months ended June 30,                    2007, and                    2006 and the period from inception, August 19, 1999, through                    June 30,                    2007     | 5      |
|                                                |                                                                                                                                                                                                                                                           |   |
|                                                | Notes                    to the Unaudited Financial Statements                                                                                                                                                                                                 | 6      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    2.                          | Management’s                    Discussion and Analysis or Plan of Operation                                                                                                                                                                             | 7      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    3 - Controls and Procedures | 9                                                                                                                                                                                                                                                              |
|                                                |                                                                                                                                                                                                                                                           |   |
|                                                | Part                    II - Other Information                                                                                                                                                                                                                 |   |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    1                           | Legal                    Proceedings                                                                                                                                                                                                                           | 9      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    2                           | Unregistered                    Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                 | 9      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    3                           | Defaults                    Upon Senior Securities                                                                                                                                                                                                             | 9      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    4                           | Submission                    of matters to a Vote of Security Holders                                                                                                                                                                                         | 9      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    5                           | Other                    Information                                                                                                                                                                                                                           | 9      |
|                                                |                                                                                                                                                                                                                                                           |   |
| Item                    6                           | Exhibits                                                                                                                                                                                                                                                       | 9      |

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**ITEM      1. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**

|                                                                 |   | June                  30, 2007 |       | March                  31, 2007 |   |
|----------------------------------------------------------------------|--------|--------------------------------|------------|---------------------------------|--------|
| ASSETS                                                               |   |                           |       |                            |   |
| Current                  assets:                                     |   |                           |       |                            |   |   |   |
| Cash                  and cash equivalents                           |   | $                              | 2,248      |                            | $      | 339 |   |
| Related                  party receivable                            |   |                           | 658        |                            |   | 5,158 |   |
| Due                  from affiliate                                  |   |                           | -          |                            |   | 13,078 |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Total                  current assets                                |   |                           | 2,906      |                            |   | 18,575 |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Property                  and equipment, net of $47,355 and $46,716  |   |                           |       |                            |   |   |   |
| accumulated                  depreciation                            |   |                           | 2,303      |                            |   | 2,943 |   |
|                                                                 |   |                           |       |                            |   |   |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Total                  assets                                        |   | $                              | 5,209      |                            | $      | 21,518 |   |
|                                                                 |   |                           |       |                            |   |   |   |
|                                                                 |   |                           |       |                            |   |   |   |
| LIABILITIES                  AND SHAREHOLDERS' DEFICIT               |   |                           |       |                            |   |   |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Current                  liabilities:                                |   |                           |       |                            |   |   |   |
| Accounts                  payable and accrued liabilities            |   | $                              | 131,773    |                            | $      | 142,987 |   |
| Related                  party payable                               |   |                           | 9,254      |                            |   | 9,254 |   |
| Notes                  payable - shareholder                         |   |                           | 165,980    |                            |   | 159,280 |   |
| Interest                  payable to shareholder                     |   |                           | 1,412      |                            |   | - |   |
| Due                  to affiliate                                    |   |                           | 15,860     |                            |   | - |   |
| Deferred                  revenue                                    |   |                           | 19,822     |                            |   | 22,841 |   |
|                                                                 |   |                           |       |                            |   |   |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Total                  current liabilities                           |   |                           | 344,101    |                            |   | 334,362 |   |
|                                                                 |   |                           |       |                            |   |   |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Commitments                  and contingencies                       |   |                           | -          |                            |   | - |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Shareholders'                  deficit                               |   |                           |       |                            |   |   |   |
| Preferred                  stock, par value $0.001, 5,000,000        |   |                           |       |                            |   |   |   |
| shares                  authorized, no shares issued and outstanding |   |                           | -          |                            |   | - |   |
| Common                  stock, par value $0.001, 50,000,000          |   |                           |       |                            |   |   |   |
| shares                  authorized, 27,311,141 shares issued         |   |                           |       |                            |   |   |   |
| and                  outstanding                                     |   |                           | 27,311     |                            |   | 27,311 |   |
| Paid-in                  capital                                     |   |                           | 6,576,009  |                            |   | 6,576,009 |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Deficit                  accumulated during the development stage    |   |                           | (6,942,212 | )                               |   | (6,916,164 | ) |
|                                                                 |   |                           |       |                            |   |   |   |
| Total                  shareholders' deficit                         |   |                           | (338,892   | )                               |   | (312,844 | ) |
|                                                                 |   |                           |       |                            |   |   |   |
|                                                                 |   |                           |       |                            |   |   |   |
| Total                  liabilities and shareholders' deficit         |   | $                              | 5,209      |                            | $      | 21,518 |   |

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|                                              |   | Three                  Months Ended |       | Inception                  to |   |
|---------------------------------------------------|--------|-------------------------------------|------------|-------------------------------|--------|
|                                              |   | June                  30,           |       | June                  30,     |   | June                  30, |   |
|                                              |   | 2007                                |       | 2006                          |   | 2007 |   |
|                                              |   |                                |       |                          |   |   |   |
| Revenues                                          |   | $                                   | 6,896      |                          | $      | 66,695 |   | $ | 358,662 |   |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
| Operating                  expenses               |   |                                | -          |                          |   | (323,105 | ) |   | (4,413,666 | ) |
| General                  and administrative       |   |                                |       |                          |   |   |   |   |   |   |
| expenses                                          |   |                                | (31,532    | )                             |   | (149,352 | ) |   | (2,217,701 | ) |
| Impairment                  of loan receivable    |   |                                | -          |                          |   | - |   |   | (130,000 | ) |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
| Loss                  from operations             |   |                                | (24,636    | )                             |   | (405,762 | ) |   | (6,402,705 | ) |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
| Interest                  expense                 |   |                                | (1,412     | )                             |   | (27,776 | ) |   | (539,507 | ) |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
| Net                  loss                         |   | $                                   | (26,048    | )                             | $      | (433,538 | ) | $ | (6,942,212 | ) |
|                                              |   |                                |       |                          |   |   |   |   |   |   |
| Basic                  and diluted loss per share |   | $                                   | (0.00      | )                             | $      | (6.88 | ) |   |   |   |
| Weighted                  average shares          |   |                                |       |                          |   |   |   |   |   |   |
| outstanding                                       |   |                                | 27,311,141 |                          |   | 63,000 |   |   |   |   |

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|                                                                  |   | Three                  Months Ended |    | Inception                  to |   |
|-----------------------------------------------------------------------|--------|-------------------------------------|---------|-------------------------------|--------|
|                                                                  |   | June                  30,           |    | June                  30,     |   | June                  30, |   |
|                                                                  |   | 2007                                |    | 2006                          |   | 2007 |   |
|                                                                  |   |                                |    |                          |   |   |   |
| Cash                  flows from operating activities:                |   |                                |    |                          |   |   |   |   |   |   |
| Net                  loss                                             |   | $                                   | (26,048 | )                             | $      | (433,538 | ) | $ | (6,942,212 | ) |
| Adjustments                  to reconcile net loss to                 |   |                                |    |                          |   |   |   |   |   |   |
| net                  cash used in operating activities:               |   |                                |    |                          |   |   |   |   |   |   |
| Depreciation                  expense                                 |   |                                | 640     |                          |   | 980 |   |   | 51,341 |   |
| Impairment                  of loan receivable                        |   |                                | -       |                          |   | - |   |   | 130,000 |   |
| Accrued                  interest payable converted to equity         |   |                                | -       |                          |   | - |   |   | 208,405 |   |
| Common                  stock issued for services                     |   |                                | -       |                          |   | - |   |   | 123,599 |   |
| Expenses                  paid by shareholder and affiliate           |   |                                | -       |                          |   | - |   |   | 636,796 |   |
| Payables                  and services converted to SKRM common stock |   |                                | -       |                          |   | 250,000 |   |   | 770,674 |   |
| Changes                  in operating assets and liabilities:         |   |                                |    |                          |   |   |   |   |   |   |
| Decrease                  (increase) in related party receivable      |   |                                | 4,500   |                          |   | - |   |   | (658 | ) |
| Increase                  (decrease) in accounts payable              |   |                                |    |                          |   |   |   |   |   |   |
| and                  accrued liabilities                              |   |                                | (11,214 | )                             |   | 19,487 |   |   | 191,027 |   |
| Increase                  in interest payable to affiliates           |   |                                | 1,412   |                          |   | 19,776 |   |   | 274,091 |   |
| Increase                  (decrease) in deferred revenue              |   |                                | (3,019  | )                             |   | 4,065 |   |   | 19,822 |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Net                  cash used in operating activities                |   |                                | (33,729 | )                             |   | (139,230 | ) |   | (4,537,115 | ) |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Cash                  flows from investing activities:                |   |                                |    |                          |   |   |   |   |   |   |
| Purchase                  of property and equipment                   |   |                                | -       |                          |   | (373 | ) |   | (53,644 | ) |
| Loan                  receivable                                      |   |                                | -       |                          |   | - |   |   | (130,000 | ) |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Net                  cash used by investing activities                |   |                                | -       |                          |   | (373 | ) |   | (183,644 | ) |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Cash                  flows from financing activities:                |   |                                |    |                          |   |   |   |   |   |   |
| Proceeds                  from parent company                         |   |                                | 28,938  |                          |   | 24,695 |   |   | 688,883 |   |
| Proceeds                  from notes payable-other                    |   |                                | -       |                          |   | - |   |   | 385,000 |   |
| Proceeds                  from notes payable-shareholder              |   |                                | 6,700   |                          |   | 20,000 |   |   | 1,810,250 |   |
| Proceeds                  from notes payable to affiliates            |   |                                | -       |                          |   | 40,000 |   |   | 2,502,191 |   |
| Principal                  payments on notes payable to affiliates    |   |                                | -       |                          |   | - |   |   | (140,000 | ) |
| Principal                  payments on notes payable-other            |   |                                | -       |                          |   | - |   |   | (338,018 | ) |
| Principal                  payments on notes payable-shareholder      |   |                                | -       |                          |   | - |   |   | (185,299 | ) |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Net                  cash provided by financing activities            |   |                                | 35,638  |                          |   | 84,695 |   |   | 4,723,007 |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Net                  decrease in cash and cash equivalents            |   |                                | 1,909   |                          |   | (54,908 | ) |   | 2,248 |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Cash                  and cash equivalents, beginning of year         |   |                                | 339     |                          |   | 62,383 |   |   | - |   |
|                                                                  |   |                                |    |                          |   |   |   |   |   |   |
| Cash                  and cash equivalents, end of year               |   | $                                   | 2,248   |                          | $      | 7,475 |   | $ | 2,248 |   |

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**SKREEM      ENTERTAINMENT CORPORATION**

**(A      DEVELOPMENT STAGE COMPANY)**

**NOTES      TO UNAUDITED FINANCIAL STATEMENTS**

**Note      1 - BASIS OF PRESENTATION**

**Note      2 - GOING CONCERN**

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**ITEM        - 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF        OPERATION**

**THIS        REPORT CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF SECTION        27A OF        THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES EXCHANGE ACT        OF        1934. THESE FORWARD LOOKING STATEMENTS ARE SUBJECT TO CERTAIN RISKS AND        UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM        HISTORICAL RESULTS OR ANTICIPATED RESULTS, INCLUDING THOSE SET FORTH UNDER        "RISK        FACTORS" IN THIS “MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION        AND RESULTS OF OPERATIONS" AND ELSEWHERE IN THIS REPORT. THE FOLLOWING        DISCUSSION AND ANALYSIS SHOULD BE READ IN CONJUNCTION WITH "SELECTED FINANCIAL        DATA" AND THE COMPANY'S FINANCIAL STATEMENTS AND NOTES THERETO INCLUDED        ELSEWHERE IN THIS REPORT.**

**Plan        of Operation**

**Results        of Operations for the three months ended June 30, 2007 as Compared to the        three        months ended June 30, 2006.**

**Liquidity        and Capital Resources**

|                                                     |   | For                    the Three Months Ended |    |
|----------------------------------------------------------|--------|-----------------------------------------------|---------|
|                                                     |   | June                    30, 2007              |    | June                    30, 2006 |   |
|                                                     |   |                                          |    |   |   |
| Cash                    used in operating activities     |   | $                                             | (33,729 | ) | $ | (139,230 | ) |
| Cash                    used in investing activities     |   |                                          | -       |   |   | (373 | ) |
| Cash                    provided by financing activities |   |                                          | 35,638  |   |   | 84,695 |   |
|                                                     |   |                                          |    |   |   |   |   |
| Net                    changes to cash                   |   | $                                             | 1,909   |   | $ | (54,908 | ) |

**GOING        CONCERN**

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**RISK        FACTORS**

**OUR        BUSINESS IS SUBJECT TO MANY RISK FACTORS, INCLUDING THE FOLLOWING (REFERENCES        TO        "OUR," "US," "WE," AND WORDS OF SIMILAR MEANING) IN THESE RISK FACTORS REFER        TO        THE COMPANY.**

**WE        HAVE NOT PAID ANY CASH DIVIDENDS IN THE PAST AND HAVE NO PLANS TO ISSUE CASH        DIVIDENDS IN THE FUTURE, WHICH COULD CAUSE THE VALUE OF OUR COMMON STOCK        TO HAVE        A LOWER VALUE THAN OTHER SIMILAR COMPANIES WHICH DO PAY CASH        DIVIDENDS.**

**WE        MAY NOT BE ABLE TO OBTAIN A TRADING MARKET FOR YOUR        SHARES.**

**IT        IS MORE DIFFICULT FOR OUR SHAREHOLDERS TO SELL THEIR SHARES BECAUSE WE ARE        NOT,        AND MAY NEVER BE, ELIGIBLE FOR NASDAQ OR ANY NATIONAL STOCK EXCHANGE.**

**JEFFREY        MARTIN OWNS DIRECTLY AND INDIRECTLY THROUGH RELATED PARTIES APPROXIMATELY        77.7%        OF OUR OUTSTANDING COMMON STOCK, AND HAS SIGNIFICANT INFLUENCE OVER OUR        CORPORATE DECISIONS, AND AS A RESULT, IF YOU INVEST IN US, YOUR ABILITY TO        AFFECT CORPORATE DECISIONS WILL BE LIMITED.**

**WE        OWE A MAJOR SHAREHOLDER, JEFFREY MARTIN, A SUBSTANTIAL AMOUNT OF MONEY WHICH        WE        DO NOT HAVE.**

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**ITEM        3. CONTROLS AND PROCEDURES**

| Number                      |   | Description                                                                                                                                                                                                                                                                                                                                                                 |
|-----------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1                    (1)  |   | Articles                    of Incorporation, as Amended                                                                                                                                                                                                                                                                                                                    |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                        |
| 3.2                    (1)  |   | Bylaws                                                                                                                                                                                                                                                                                                                                                                      |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                        |
| 31.1                    (2) |   | Certification                    of Chief Executive Officer of Skreem Entertainment Corporation                    Required by                    Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act                    of 1934,                    as adopted pursuant to Section 302 of the Sarbanes-Oxley Act                    of                    2002 |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                        |
| 31.2                    (2) |   | Certification                    of Chief Financial Officer of Skreem Entertainment Corporation                    Required by                    Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act                    of 1934,                    as adopted pursuant to Section 302 of the Sarbanes-Oxley Act                    of                    2002 |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                        |
| 32.1                    (2) |   | Certification                    of Chief Executive Officer of Skreem Entertainment Corporation                    Pursuant to                    Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350                    Of 18                    U.S.C. 63                                                                                                      |
|                        |   |                                                                                                                                                                                                                                                                                                                                                                        |
| 32.2                    (2) |   | Certification                    of Chief Financial Officer of Skreem Entertainment Corporation                    Pursuant to                    Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350                    Of 18                    U.S.C. 63                                                                                                      |

| (1) | Previously                  filed with the form 8-K filed on April 7, 2004 and is incorporated                  herein                  by reference. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Field                  herewith |
|-----|---------------------------------|

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|  SKREEM                  ENTERTAINMENT CORPORATION |
|---------------------------------------------------------|
|                                                    |   |   |
|                                                    |   |   |
| Date:                  September 10, 2007     | By:   | /s/ Charles                Camorata |
|                                                    | Charles                  Camorata |
|                                                    | Principal                  Executive Officer |

|                                                  |                                     |                                  |
|-------------------------------------------------------|------------------------------------------|---------------------------------------|
| Date:                  September 10, 2007   | By:                            | /s/ Karen                Pollino |
|                                                  | Karen                  Pollino           |
|                                                  | Chief                  Financial Officer |

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