Mike has the negatives and rights back to WOSAT but doesn’t want to license the rights out to another distributor and is sceptical about crowdfunding, last time I spoke to him about it (admittedly a while ago) - so I don’t know how a restoration or re-release will ever happen.
From what I’ve seen, Mike is relying on eBay sales of the LP soundtrack to fund a blu-ray release of the film. If you are still in contact, it might take some convincing.