I think an explanation can be found here:
https://www.kickstarter.com/projects/1820796125/swat-kats-revolution/posts/4450668
They raised enough money for a pitch, but not enough for a full revival. I don't think they've given up, though, which is why there's a KS for a Swat Kats comic.
Hey, anyone here remember the cartoon series, "Swat Kats: The Radical Squadron"? Well, I thought I should share a little project I'm backing...
https://www.kickstarter.com/projects/roditeli/swat-kats-comic-book