Contstatin Film, a German film company, purchased the rights to make a Fantastic Four movie. However, the contract giving them the exclusive rights stipulated that the filming be completed by a deadline in order to retain the rights. In 1992, the deadline was fast approaching and the estimated forty million dollars necessary to make a blockbuster Fantastic Four movie was not available. The company turned to filmmaker Roger Corman who accepted the challenge: make a bare-bones movie at minimum cost.
They never intended to release the low-budget film. But the actors and public were never told that this was just a place holder until the big-budget movie could be made. They worked diligently, for low salaries. They were told that if the movie did not go to theaters it would be a pilot for a TV series. Filming lasted only one month and the cast went on to give interviews and appear at conventions. A premiere date of 1994 was set, but in 1993 it was announced that the film would not be released because of its budget.
For $1.5M, Constatin Film created a movie that they never intended to release. They retained the rights and more than a decade later they released a big budget Fantastic Four movie which grossed $330M. To those interested, there are a few bootleg copies of the "never to be released" film floating around.
-Professor Walter