The third installment in Warner Bros.' on again/off again horror franchise "Gremlins" was well underway before "stalling" in early 2015. Things remained quiet after that update, until late 2016 when "Gremlins" star Zach Galligan stated that work on a third film was once again moving forward.

In a new interview with Bleeding Cool, Galligan has shared what he knows about the apparently inevitable sequel. After discussing his new film, "Nothing Lasts Forever," Galligan explains that while he's not involved in every bit of behind-the-scenes crafting of the anticipated movie, he's sure of one thing: "Gremlins 3" will be a sequel, not a reboot, and creator/director Chris Columbus is looking to undo some of what happened in "Gremlins 2."

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"Chris Columbus didn’t have anything to do with 'Gremlins 2' -- because by his own admission he didn’t see a franchise," Galligan explained. "He kind of regrets it I believe, but he was ‘one and done.’ I don’t think he cared for 'Gremlins 2' and the direction some of the characters went in, so he’s kind of wrested control back. Everything I’m quoting is stuff he’s publicly said... 'There will NEVER be a remake, There will NEVER be a reboot there will only be a SEQUEL'"

Galligan also shared some potential story ideas for the film, with the caveat that the script has been in development for years, with a number of writers working and reworking its plot. One thing has apparently remained steady through all that, however -- the time period the story will take place in.

"[Columbus] has been aggressively working on a Gremlins 3 that takes place in present day. He tantalizingly says there will be some NEW characters and some OLD characters -- I guess in the style of a 'Force Awakens' type sequel -- One thing we know for sure is they have a writer on board. The only insight I can give is the following: There was a 6 year gap between 'Gremlins' and 'Gremlins 2' most of that time was spent with them writing and rejecting ideas and re-writing. One of the ideas that was rejected was ‘gremlins in Vegas.’ They went with that for 18 months and felt it was too expensive. Eventually they came up with the tower idea, where essentially I’m working for Donald Trump our new President! That took six years to happen. Carl Ellsworth, has been apparently working on the script for a year and a half now. If no new names start appearing on the IMDB listing then that means they like the script. If new names start appearing, y’know Kevin Smith appears, it means it’s back in rewrites with a new vision. Warner Bros. definitely wants it, Chris Columbus wants to do it because he’d like to undo the 'Gremlins 2' thing as he wasn’t thrilled with it and [Steven] Spielberg wants to do it I imagine -- because he’s Spielberg -- and why wouldn’t he want to do it. Once he’s found the right script he can attach his name and make a ton of money. Not that there’s anything wrong with that."