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After a small-town film festival where the main characters, Mitch, Maynard and Cherie win absolutely nothing, both men wind up in jail for having stolen the Matricher Falls 3rd Annual Film Festival's "Grand Jury Ladle Prize" and Cherie joins up with a shady distribution company. After she becomes an investor, the two shady distributors get her to invest everything she owns in It’s the Gravy Unlimited Film Distribution Company Unlimited (ITGU). Soon after she forms her partnership with Stankey and Kahn, the pair goes out of town, leaving Cherie with all their liabilities, and no assets. After she springs Maynard out of jail, the two mobilize some town folk to help them save the failing distribution company in an attempt to get whole. Much happens in the process: They hook up with some entrepreneurs, who front a children's lemonade stand, and two bogus Middle East investors. The new team is pressured and led to commit various crimes, not the least of which is to bootleg the town's 78 varieties of prized gravy and ship them across state lines. Their actions, innocent or not, lead to RICO charges. The entire group gets busted. Who gets off? Who doesn’t? Well, in the end, everyone takes their lumps.

(extended synopsis)