Bill and Ted are high school buddies starting a band. They are also about to fail their history class—which means Ted would be sent to military school—but receive help from Rufus, a traveller from a future where their band is the foundation for a perfect society. With the use of Rufus' time machine, Bill and Ted travel to various points in history, returning with important figures to help them complete their final history presentation.

William Lee wrote, produced, directed and starred in this film, which concerns a secret agent guiding an adventurous female professor on a search for the Treasure of the Ninja.