Colorado shooter James Holmes has changed his plea to not guilt by reason of insanity, and will now face a court-ordered psychiatric evaluation that could take months to complete.

A judge has approved the decision for Holmes, 25, to change his plea after reports indicate he was given paperwork explaining the effect this would have on the rest of his life.

If Holmes were to be found guilty, under this new plea, he could serve the rest of his life behind bars.

But if doctors deem his condition has improved later on he could eventually be released.

The defense filed nearly 90 last-minute motions, including the request to be present during his mental health evaluation by state doctors, the jury be sequestered, the court allow real-time reporting, as well as revoke the right of the jury to use any electronic devices during the trial.

There is also a unique motion that requests a review of any and all compensation that the victims have received since the day of the crime citing, "There are approximately 82 named victims in this case, many of whom have sought financial and other relief from victim compensation. Mr. Holmes seeks an in camera review of the materials... made in connection with this case, and disclosure of any relevant materials."

Holmes' attorneys have also requested that the statements Holmes made to Aurora police officers and FBI agents following the incident be thrown out in this new phase in his trial.

The court-ordered mental evaluation process includes bringing eyewitnesses and testimonies of state doctors and other experts to the foreground in order to determine if Holmes should receive a life sentence or undergo the death penalty.

The shooting happened in Aurora Colorado, when Holmes opened fire in a packed movie theatre during a showing of "The Dark Knight Rises" in 2012, killing 12 people and injuring 70.

Holmes faces a total of 166 counts, including charges of murder and attempted murder.

Watch the ABC News video coverage of the case here: