Slaughter Studios has a legendary reputation as the place where a slew of classic low-budget horror movies were made. Long since abandoned and now in ruins, a group of aspiring filmmakers led by director Steve decide to break into Slaughter Studios so they can shoot one last B-grade creature feature on the premises before it meets the wrecking ball. However, things go awry when Slaughter Studios proves to be the stalking grounds of a vicious psycho.
Two carnies (Sewell and Gugino) abduct a mermaid in Ireland, circa 1900, and decide to transport her to America. As their ship loses its way and heads towards the mythical Forbidden Islands, the mermaid begins to display its deadly side.
