It's kind of hard to spoil this film since it is based upon "true events", then opens up with a case of an alleged "satanic ritual rape and murder" as part of the "Satanic Panic" that dominated the 80s.
The "Satanic Panic" was not at all justified, and the whole alleged string of satanic cults and satanic murders in the 70s and 80s were proved to be hoaxes or otherwise not related to satanism in any way. As such, if this film is claiming to be based on "true events", and in particular on a "regression therapy" which looks and sounds to me exactly like Hollywood hypnosis, you can tell nothing good is going to come of this.
This film decides to play it straight, with the vast majority of it being taken upon as an actual investigation into an actual satanic cult rape and murder, with a girl Angela claiming her father and grandmother and some other people were involved. The father turns himself in and confesses despite not having any memory of it.
The police employ a psychologist who starts using "regression therapy" to try to get the father to "regress" to the night he supposedly raped his daughter, whereupon more information comes up that implicates another police officer. From here, officer Bruce Kenner starts having nightmares or otherwise visions of the satanic ritual rape and murder as described by Angela. He listens to an interview conducted with her repeatedly, to the point of memorizing every word of it.
For an excruciating period of time, very little actually happens in the film, as Bruce interviews person after person, the Satanic Panic makes the news night after night, and the already weak case seems to stall to nothing.
Then suddenly right at the end, during a scene or maybe an hour after a scene in which I had nodded off or gotten distracted and missed it, Bruce somehow realizes that one of the Satanic Cultists in his recurring nightmares is actually a woman in a newspaper ad. From there, he somehow comes to the conclusion that the entire cult is nonexistent, and Angela had been lying all along.
A confrontation with Angela later confirms it, but without any evidence and his word against hers, there's nothing he can do. Angela's father refuses to believe it and insists upon pleading guilty despite the fact that he didn't do it.
All of this happens in literally the last 15 or 16 minutes after more than an hour of otherwise plain and boring nondescript police procedural horror with no evidence and no witnesses.
If this was trying to have something to say about the "Satanic Panic" of the 80s, it took an awful long time to say very little, if anything. If it was trying to be a mystery, it gave us literally nothing in terms of any threads or evidence to follow. If it was trying to give some cheap thrills and scares, it failed even in that.