Straight to video, I bet.
What I don't understand is: why bother, if you're a movie producer, to pay for the "Mandrake" name at all? It's not like it's a popular genre character like Batman or Superman. Most people under fifty probably don't even know who the character is and, from that synopsis, the character is virtually unrecognizable from the old comic strip.
Furthermore, the name "Mandrake" is pretty stupid in and of itself.
So why not save a royalty payment and just call the character and film something completely different?
