According to Badassdigest.com:
I’m at CinemaCon, the theater owner trade show in Las Vegas, and Paramount just revealed the first look at the new Teenage Mutant Ninja Turtles – which revealed that April O’Neil’s dad helped create the turtles.
At first the trailer hides the turtles – there’s voice over from William Fichtner’s Shredder explaining the city has gone to shit. We see criminals with automatic weapons and buildings exploding and maybe – just maybe! – it seems like this could be a Hobo With A Shotgun version of a city in decline.
It turns out that this version of Shredder hates that crime and violence, and so he started a program to create heroes. That’s juxtaposed with TCRI ooze canisters and experiments. You know, the ooze that created the turtles. The ooze that Shredder made… with April’s dad. Yes, the VO is Shredder telling April he and her dad made the turtles.
There’s flash footage of the Turtles fighting guys in the subway and April films on her phone. Then the turtles are revealed… and they’re kind of bad? Meredith Woerner of io9 was sitting next to me and said they looked like babies with penis heads, and she’s right. They’re not turtle-y enough and they’re not anthropomorphized enough. They’re a terrible middle ground.
They do crack wise, though. We see the turtles sliding down a mountain and one yells “Batter up!” and is thrown into a Hummer, shell first, crushing the door of the vehicle.
I imagine this will hit the web soon and you’ll get to make up your own mind.