That has been an ongoing question since 2000 when the film was completed. It would appear that original production company (Giants Entertainment) folded and the film has languished in a vault somewhere. It seemed that occasionally the film would show up in different "libraries" and yet queries about possible releasing went unanswered. The only hint that this film came close to being released (direct-to-video) is if you check out the Bayshore Media Group website it would seem that they may have come close based on images which are on the site. Alas, Bayshore was merged and/or acquired by a Canadian company and yet again the film has apparently gone back to "distribution purgatory". And as it is, I believe the only one of Gary Daniels films not to be released, I would hope that it one day does come to pass.
On a different note, the official site of the film's director (Darren Doane) claimed a few months back that he was hoping to release "his version" of the film through his site and that to has not happened.
So, we wait.