Adventure is afoot in the small coastal town of Emerald Cove. Dave Shipper (John Weisbarth) is all set to enjoy a quiet summer, but the arrival of his cousin Jon (Frank Jimison) throws a wrench in his plans. Rather by chance, they happen upon an old map that sets them on a quest, along with Dave's friend Freddy (Freddy Rible), to seek out a legendary treasure said to be buried deep inside the ocean cliffs. With the help of an old local fisherman ("Smokey" Tom Hodgins), the boys compile clues that unravel a 30-year-old murder mystery and lead them closer to their prize. They quickly draw the attention of a bumbling crew of malicious treasure-hunters and a mysterious pickaxe-wielding "digger", all intent on capturing the gold for themselves.

The multi-media misadventures of a mismatched pair of buddies, "Downer" and Nash, one in search of his long lost father, the other in search of the ultimate sexual video game competition. What their odyssey leads them to are some far-out encounters with a demented midget, a transsexual nun, a drunken lunatic, a rabbi landlady and a sex starved beach bunny.