IMDb says this movie cost 10 Million to make and grossed about 140 thousand. I would bet that movies with bigger budgets have lost more in absolute dollars, but do many other films lose 99% of their budget?
shareI know this is an old post, but I'll reply anyway.
If you check it out on boxofficemojo, this movie only opened in 5 theatres. Essentially it was a straight-to-video release. Hundreds of movies are released straight-to-video every year. The box office is not the one and only place where studios make money off of movies, there's still home video, television, and now video-on-demand.
With a budget of only $10 million, I doubt they expected this to be a major blockbuster, anyway.