Alternate ending
There was an alternate ending that made the ending of the film clearer:
Adult Mike: Now you know what I mean by "history being in the mind of the teller?" Because that's how I remember it.
Little boy: Well whatever happened to the King?.... wait..... wait.... look out the King is RIGHT BEHIND YOU!!!
Adult Mike: Ooooooh NOOOOOOOO!!!!!! It's.... It's.................HIM!!!!!!!! RUN BOYS SAVE YOURSELVES!!!
The King: MIKE!!!!! MIKE!!! I'm gonna pound your ass GOOD this time!!!!!!
Adult Mike: AHHHHHHHHHHHHHH!!!!!!!!!!!!!! NOOOOOOOOOOO!!!!!!!!! AHHHHHHHHHHHHHHHHH!!!!!!!!!!
King smashes a 2X4 over Mike's head knocking him to the ground. Mike gets up immediately.
Adult Mike: You ain't no KING OVER ME anymore!
Mike attempts to karate chop the King but he is quicky beaten down again by a series of expert blows.
The King: Next time I won't be so merciful! Oh.. feels like I had a few too many beers today.
King then drops his trousers and relieves himself all over Mike.
The boys return to find Mike beaten, bloodied and covered in urine.
Little boy: Uh.. Dad what happened?
Adult Mike: Uh.... I beat him?
Little boy: Is this one of your little "history in the mind of the teller" episodes again?
Adult Mike: .... yeah.