Three traders make their way across the prairies to deliver a mysterious box to an unknown buyer, but an unnatural storm strands them at a homestead. The house is home to a single strange occupant - The Watcher. The Watcher tells tales of a magic lantern and a desperate cowboy attempting to save his wife. As they decide what's real and what's not, the traders hatch a plan to retrieve the large iron chest they left stranded in the storm. The Watcher warns them of a spirit that haunts his homestead to this very day. Unexplained happenings and violent confrontations lead to the revelation that The Watcher is not as he appears. A twisted family history leads to the truth behind the lantern. And just when it seems like the traders have a handle on things, they come face-to-face with the elusive cult known only as The Red Hats.

The past catches up to three exotic dancers, two of whom were involved in the famous Wisconsin strip club massacre.