"Keanu Reeves and Alex Winter are both on board to make the movie if a studio ever decides to pull the trigger on it. There's already a script that was written by Ed Solomon and Chris Matheson, the story of which follows the older middle-aged Bill S. Preston, Esq. and Ted 'Theodore' Logan back in time to interact with their past selves and George Carlin’s character Rufus, "using footage from 1989’s Bill & Ted's Excellent Adventure." It finds our heroes "still struggling to complete the great work of their life." Source: geektyrant.com
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Bill & Ted's Excellent Adventure movie poster.