Laserblast 2 was a sequel for the film Laserblast, and was first announced in 1980. As the years went by, various updates about the movie surfaced, stating it as being in various stages of development, but no footage was ever released. Eventually, in the early nineties, the full rights for the film went up for sale. No one knows if they were bought, and the movie has never seen the light of day.
The IMDB page for the first film, that makes note of the sequel