Tim had been in talks with the beloved 1988 film's stars, Winona Ryder and Michael Keaton, about a follow-up to his cult horror comedy for years, and last year (15), his leading lady confirmed the movie was given the green light.

In March (16), Tim was reported to have announced the script and the cast were both in place, claiming they were gearing up to start shooting.

"The film is a go and has been approved by the Warner Bros. team, we have talked with the cast members we wanted for the film and they are all on board, this includes both Winona and Michael," he is quoted to have told Showbizspy.com. "We have the script in hand everything is in place, all we need to do now is get ready to start filming."

However, the 57-year-old now insists his comments were exaggerated, although he is keen to start moving the film into production.

"This is the thing, it's something that I'm interested in, but there's so many stories (online), (claiming I'm) dumping Michael Keaton for Johnny Depp and this or that, and I've talked to these people (reporters) and they didn't wanna hear this so they just made up a story," Tim tells Collider.com. "But the fact of it is I have talked to Michael and I have talked to Winona, I've talked to a few people. It's something that I really would like to do in the right circumstances, but it's one of those films where it has to be right.

"It's not a kind of a movie that cries out (for a sequel), it's not the Beetlejuice trilogy. So it's something that if the elements are right - because I do love the character and Michael's amazing as that character..., so yeah we'll see. But there's nothing concrete yet."