What ever happened to the “TERMINATOR 3000” animated 3D film?

Back in August of 2010, Hannover House (an entertainment distribution division of Target Development Group, Inc.) announced a development deal with Vancouver-based Red Bear Entertainment to make TERMINATOR 3000, a $70-million dollar budgeted, 3D animated feature film based on the characters from the original 1984 classic “The Terminator”.  Apparently the T-800, Sarah and Kyle would all be back… animated style!