Written, produced and directed by Rick Sloane, Hobgoblins opens at a deserted old movie study. There we meet two security guards Dennis (Kevin Kildow) and his boss Mr. McCreedy (Jeffrey Culver). During their patrol McCreedy is called away leaving Dennis to open and explore an old film vault. Inside he finds a music stage set up and mimics being the singer in a rock band. Some how he falls offstage and dies. Mr. McCreedy finds his body and simply closes the vault door leaving the body inside.
Later twentysomething Kevin (Tom Bartlett) is hired as the replacement for Dennis. Kevin hopes the new role will impress his girlfriend Amy (Paige Sullivan). Upon arriving home from his first shift Kevin finds Amy at home with his friends Daphne (Kelley Palmer), Kyle (Steven Boggs), and Daphne’s just back from the Army boyfriend Nick (Billy Frank). Nick spars with Kevin to “teach” him some hand-to-hand skills and absoluely whoops him. Amy tells Kevin she is embarrassed by him.
The following night in pursuit of a burglar, Kevin discovers the vault and accidently lets whatever is inside it out! Mr. McCreedy, reveals that the vault contained space hobgoblins who crash-landed on the studio lot decades earlier. McCreedy has been closely guarding them ever since. The hobgoblins have the hypnotic power to make a person’s wildest fantasies come true; however, they also kill their victims in the process when people’s fantasies turn against them. McCreedy tasks Kevin with catching and imprisoning teh Hobgoblins once more!