The 62-year-old actor-director said the film has already been shot, according to The Hollywood Reporter.
Wiseau plays the lead role of a bounty hunter in search of his long-lost love in the movie set in a bleak Los Angeles.
The film has been directed by Jennifer Juniper Stratford
"Scary Love" is described as "a science fiction tale told in the style of classic B-movies and outfitted with practical special effects, laser beams and lunatic ideas which are guaranteed to make it the next big midnight movie hit."
Wiseau is known for making "The Room" (2003), which is referred to as 'Citizen Kane of bad movies'.
He also starred in "Best F(r)iends" with Greg Sestero, who wrote the book on which James Franco-directed "The Disaster Artist" was based and also appeared in "The Room".
Wiseau was immortalised on the big screen by Franco who played Wiseau in award-winning "The Disaster Artist".
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