Director Guillermo del Toro has recently revealed why his Pinocchio project isn't happening anymore. The iconic director's latest movie, The Shape of Water, is riding high off of critical acclaim, but it appears that Pinocchio will not be able to get a shot at the same sort of buzz. Del Toro had been trying to make the movie for over 10 years and as recently as the end of August, the director was still working on it, looking for financing, but it appears that he wasn't able to find the proper funding because people just weren't into seeing his dark take on the character.

Guillermo del Toro recently sat down with IGN to discuss his Trollhunters Netflix series and confirmed that Pinocchio is definitely not happening. When asked about the long-awaited project, del Toro was blunt. The director had this to say.

"It's not happening. But the idea was to do Pinocchio during the ascension of fascism in Italy, with Mussolini. It was a good time to discuss the idea of being a puppet or being a human, but you know, it's not in progress."

The news also comes after del Toro announced that he will be taking a year off after The Shape of Water hits theaters, which is a shame because his idea for Pinocchio is very timely and probably would have been excellent and thought provoking.

Pinocchio, as envisioned by Guillermo del Toro, wasn't going to be the charming Disney fairy tale most viewers know and love. The director was planning a stop-motion reimagining set during the rise of Mussolini. Del Toro admitted that making an anti-fascist Pinocchio was always going to be a struggle to get funded, even if he already has the puppets and designs ready to go. The director explains.

"When I announced Pinocchio I got many calls: "Yeah but it's set during the rise of Mussolini, it's an anti-fascist Pinocchio." (mimes they all hung up)"

Guillermo del Toro has also recently come forward to say that The Shape of Water is his favorite movie that he's ever worked on, and that's really saying something. The movie doesn't even come out until December and its already making waves and raising eyebrows about a fish monster sex scene. The director calls the new movie very personal and claims that it's, "my favorite movie that I've done." When talking about the Cold War fairy tale, the director has emphasized many times that it's an "antidote" to the current moment and wants to promote hope.

The exciting prospect of seeing a dark stop-motion version of Pinocchio may not be happening, but we at least have The Shape of Water to look forward to. And who knows, maybe The Shape of Water will crush at the box office and pave the way for Pinocchio, but at this time, the project is dead and Guillermo del Toro is taking a year off to figure out his next steps. You can read more about Guillermo del Toro's aborted Pinocchio project via IGN.