All that was left was to get it signed off by Paramount. The licensing team was enthusiastic, so it came down to one meeting with the president of Paramount, Stanley Jaffe. Carefully considering the huge source of ongoing revenue and the massive boost to the Star Trek brand that would continue for years, Mr Jaffe turned the offer down, because maybe it would have been a flop, and maybe it wouldn't have had the company and brand boosting effect expected. And so the whole idea was scraped!
You can read and see more about this project on the Goddard Group blog, the company that worked on it.