Oh freakin yeah!!!!!

I wouldnt get too excited. The Smart money is on this being a high concept advert for the Mortal Kombat game reboot, to be shown at this years E3 convention.

There is no info on IMDB that indicates MJW is involved in a full MK movie.

Its still cool though

Update: Its a promo showreel trying to get funding for the movie:

From an article from Latino Review:

Mortal Kombat Fans, This Is The Hard 'R' MK Movie You've Been Waiting For
By George 'El Guapo' Roush on June 08, 2010
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Mortal Kombat Fans, This Is The Hard 'R' MK Movie You've Been Waiting For Mortal Kombat is a movie franchise that has been missing one thing - the blood and guts that we all loved from the video games.

Now it looks as if we're going to finally get the rated 'R' reboot we fans deserve. Kotaku has the first look at the Mortal Kombat test video shot for Warner Brothers to get funding for a full blown hard 'R' MK movie. Yes, this is the direction they plan on going for the Mortal Kombat reboot. And I've got the exclusive goods on who played who.

* The short was directed by Kevin Tancharoen, who did the remake of Fame last year. Judging from this short, Kevin is the perfect director for this movie.

* Jacks is played by Michael Jai White. Michael played Spawn and was in Undisputed II. Michael makes a great Jacks (Jax).

* Sonya Blade is played by Jeri Ryan, who played Seven of Nine in Star Trek: Voyager.

* Baraka was played by the very talented Lateef Crowder, who plays the Brazilian fighter in Undisputed III.

* Scorpion is played by Ian Anthony Dale. Ian plays Kazuya in the upcoming big screen version of Tekken.

* Johnny Cage was played by up and coming martial arts sensation Matt Mullins.

* Still working on who played Reptile. Will update when I find out.

* The fight choreography was done by Larnell Stovall. Larnell did the fight choreography for Undisputed III and is one of the best fight choreographers in the business. You want to see the fights you deserve? Then you fans should DEMAND he be the guy in one charge for this reboot.

I thought i recognized here...

Jeri Ryan, is super hot.

Kevin Tancharoen...

Another Thai guy, hope he won't screw up like the other Thai director who did the movie Ballistic: Ecks vs Sever.

And thanks god for Michael J. White for being in this movie.
Also cool to see Ian Anthony Dale in there as well.

-Donnie

There are still some legal issues to be settled between the previous MK movie producers and Warner Bro's, both of whom are claiming to retain rights to the franchise.

This footage is a showcase by Warner Bro's of the proposed reboot of MK they want to make, but its a long way off from being green lit.