Russell 'Highlander' Mulcahy's upcoming horror flick "Bait" has the honor of being the first 3-D movie ever - for a moment there you thought I was about to announce "Crocodile Dundee enters the Third Dimension" didn't you? - to score coin from Screen Australia.

With the resurgence in the 3-D format, the funding body no doubt saw an opportunity to ride Cameron's coat-tails. Likely a smart move, too - no matter how good a film "Bait" is (Whether or not the downunder effort is any match for looming 'real 3D' imports like "Drive Angry", "Hellraiser 3D", "Halloween 3D", "Toy Story 3D" and "Saw 7" is yet to be seen) you can pretty much guarantee more audiences are more likely to pay to see it, what being both a horror film and a 3-D film, than they would, well, whatever the next "You and Your Stupid Mate" is.

Here's the synopsis for "Bait" : When a freak tsunami hits a sleepy seaside town on the Gold Coast dozens of local shoppers and tourists find themselves trapped in a flooded underground supermarket and car park. Trapped, with the water rising, they find they’re not alone; the tsunami has brought some unwelcome visitors from the Deep … a pack of hungry tiger sharks! They must now band together with all of their resources before they get eaten and entombed in a watery grave!

Sounds like it could be a bit of fun.

Mulcahy, whose recent credits include the DTV "Scorpion King" prequel and "Resident Evil : Extinction", is also responsible for the script.

Paramount will distribute.