Woodstock 50 — the highly anticipated festival organized to commemorate the 50th anniversary of the famous 1969 Woodstock music festival — is believed to be canceled. Originally planned to take place in Watkins Glen, New York, and featuring a wide range of artists, Woodstock 50 is now on life support after investors pulled out of the project. According to Dentsu Aegis Network’s Amplifi Life, an entity of the Japanese PR and advertising firm that has been financing the festival, “Despite our tremendous investment of time, effort and commitment, we don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees.”

According to Vulture, the Woodstock 50 organizers reportedly missed several production milestones, including proper permitting, audience capacity estimates, and securing talent. The initial financial investment was made based on ticket sales estimates, but Amplifi Life grew frustrated when those numbers no longer appeared feasible. The lack of water sources, sanitation facilities, and safe entrances and exits from the area were also a concern. The festival missed its planned April 22 release for ticket sales.

Woodstock 50 organizers deny the cancellation of the event and plan to bring in new investors and move forward with the festival this coming August.

H/T: Vulture