 Rick Todd is a struggling artist who lives with his pal Eugene Fullstack who happens to be a writer of childrens stories. Rick would like to break in the comic book industry but he has one problem, he can t write. However, Eugene s overactive imagination as well as his obsession with comic books causes him to have wild dreams of a super hero named Vincent the Vulture and Rick uses Eugene s dreams to create a comic book featuring Vincent. Living in the same building as the boys is Abigail Parker and her roomate Betsy Sparrowbush. Abigail happens to be the author of Eugene s favorite comic book, Bat Lady, and Betsy is her model. During one of Eugene s dreams, he comes up with the formula for a secret rocket fuel, which happens to be an exact copy of a formula the government is working on. Soon, a group of enemy agents are after Eugene in order to get the rest of the formula.