Director Penelope Spheeris said on the WTF podcast that after Richard Pryor ripped the film to shreds, she re-cut it and he showed it to Bill Cosby. Perhaps selling Cosby the film rights, but it never was shown again.
According to Pryor's autobiography, Bill Cosby paid for the final edit of the film. After a private screening, Cosby's only comment was "Hey, this shit is weird".
According to Spheeris, Pryor did not pay her for three months of work.
According to Pryor's autobiography, the film was stolen from his house and held for ransom. Pryor paid it. Some time later, the print was stolen again and was screened at an art-house theater in Los Angeles. Pryor bought it back from the theater.
In 2005, scenes from the film were screened at a tribute for Pryor at the Director's Guild of America. Pryor's wife, Jennifer Lee Pryor, sued Penelope Spheeris and his daughter, Rain Pryor, for allegedly stealing the film from Pryor's house.