There are bad movies like the ones Ed wood used to make and there are bad movies like "Leonard part 6".
Now the difference between these two groups is, that when you watch Ed Wood movies you can laugh at the fact how serious he was. But with this supposed to be comedy you are just dazed at the fact how shamelessly this movie has been made relying only on the 80's comedy icon Bill Cosby.
I can see how the script of this agent parody might have looked funny, with all the James Bond jokes it has, but somewhere in the making everyone just forgot to do their jobs properly, thus ending up with this pile of totally unfunny crap.
As stated nothing works, special effects are bad and they probably looked outdated the year this movie came out. Actors are bored and they don't even try and same can be said of director Paul Weiland.
Avoid if you can.