Pinocchio II

Pinocchio II was the planned sequel to the Disney animated film Pinocchio.

Plot
Pinocchio is now a real boy and it got cancelled for stuff

Why It Was Cancelled

 * 1) John Lasseter became CEO of Walt Disney Animation Studios.
 * 2) Disney cancelled all future direct-to-DVD sequels in 2007.

Result
The film was shelved and will probably remain so from now on since Disney discontinued making direct-to-DVD sequels.