The studio decided that since the Kickstarter had only been able to raise 16000 GBP of the 100000 GBP goal with 12 days left, it would not be wise to continue the drive any longer.
According to the update on the Kickstarter page,"Although we have 12 days to go it's clear that we aren't going to make our £100,000 goal, so instead of pretending otherwise and continuing the updates we've decided to be honest with ourselves and with you and stop.
"We appreciate we were asking for a lot of faith from you guys, and our mantra from the start has always been to keep the game design as open as possible, with the fans calling the shots. This was a risk, and it didn't work out, but I will say a huge thank you to everyone who pledged."
Gameware hasn't given up hope, however.
"If there's one thing we've learned from running this campaign it's that there sure is still a lot of love for this plucky secret agent fish and we believe it'll only take the right game and the right campaign to make James Pond 4 a reality," the studio promised, "So stay tuned and we will be back with more news soon."