Once upon a time, Charles Band, director of such personal favorites as Metalstorm: The Destruction of Jared-Syn and Trancers, got the option to produce a film based on Marvel Comics’ Doctor Strange… and then the rights expired. He braved on with the project, changing various odd details, and created “Doctor Mordrid Master of the Unknown”, which was released in 1992. I had never heard of it before I picked up a promo copy VHS tape of the film for 99 cents today. The whole thing is viewable online, of course. It’s quite entertaining. you can also get it on DVD.
Jack Kirby allegedly did concept art for the film.