Because of this, we were cheated out of Spider-Man
According to the trivia section:
The failure of this film at the box office prompted The Cannon Group Inc., to cancel a planned production of "Spider-Man".
I also read:
In an online interview with the Planet Origo website, director Albert Pyun said that he was hired to direct "Spider-Man" for Cannon Films back in 1988. He said that his movie would have featured the origin of Spider-Man, featured Dr. Curt Connors, a.k.a. the Lizard, as the film's main villain, and that most of the movie would have been featured in the sewers of Brooklyn, where Spider-Man would chase after, and fight with, the Lizard. His plans to direct "Spider-Man" fell through when Cannon Films went bankrupt. Oddly enough, his basic story line was used in 2012 in the reboot The Amazing Spider-Man (2012).
So because of this movie we were cheated out of getting a Spider-Man movie. We had to wait 15 long years. I read that Charlie Sheen was campaigning for the role back in the 90's. That would've been interesting and pretty cool, in my opinion.