In an old Hollywood mansion, the spirit of a butler inhabits a grandfather clock. When two teenagers decide to use the mansion (which once belonged to one of the teen's grandfather) for a film, they encounter the spirit frightening away a burglar. The other teen builds a mechanical body for the spirit to possess when next he appears. The butler provides the penurious teens and their leading lady, who lack the money to complete their film, with information leading them on a hunt in the mansion's dank, dark basement. There, if they dare, they will find a million-dollar fortune and the key to unraveling and righting the wrongs of an old family scandal.
The film was released theatrically in Germany on June 25, 1987. It would eventually be released on video cassette in the United States on February 7, 1990, by M.C.E.G. Virgin Home Entertainment. In 2001, the film was released on DVD by Image Entertainment but in full frame and without any bonus material. The DVD is now discontinued.