The Last Starfighter might get a sequel!
I suppose you would need to be about as old as me to remember this film from 1984 and to be fair it was kind of buried because of the success of other science fiction films around that time period that you might have heard of called Star Wars, but the original was fantastic for many people, including myself and I really hope they do this part 2.

Whitta is a screenplay writer who worked on the original Last Starfighter, The Book of Eli, and he was part of a team that developed the story for "Rogue One" which is my favorite storyline in the newest wave of Star Wars films. So yeah, dude has some street cred in the nerdy film department.
If you are at all familiar with the original, you will know that by today's standards the CGi is well, extremely dated. This is because it was one of the first ever films to rely really heavily on this process and we have progressed ever so slightly in a technological sense since 1984

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A $3000 computer from 1984
While it is only concept art at this point, just look at those images. This sort of thing is very possible with today's graphical capabilities and if I had to guess I would say this might be a big part of the reason why this project is moving so slowly (if it is moving at all.) Films of this magnitude, with this sort of sci-fi environment, cost LOADS of money to make. Just think about the disaster that was Ender's Game... it cost over $110 million to make and it flopped.

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it's just concept art, but man is it beautiful
I don't know if there are enough fans from the 1984 classic movie that would be enthusiastic enough about this film for it to ever come to light, but I, for one, certainly hope so!
There have been rumors of people such as Steven Spielberg and Seth Rogan that have been toying with the idea of directing / producing this film, but there is nothing official. For me, I would prefer Steven :P
Consequently, if you haven't seen the original and enjoy sci-fi films, I highly suggest you check this one out. It is a piece of history for multiple reasons.
Probably one of the greatest movies ever. I remember much later I was listening to songs from The Music Man and I was like hey, that is the guy from The Last Starfighter. It has been so long since I saw the original, I really need to check it out again. It really was so fantastic!
The Last Starfighter was one of my favorite movies and I hope they do justice to any sequel. If you are a fan of The Last Starfighter and like to read, check out 'Armada' by Ernest Cline if you haven't already (same guy who wrote Ready Player One). It definitely reads as if it was heavily influenced by that movie but it is unique enough and good enough to be entertaining in its own right.