Where's LostWinds 3?

I loved the first two in the series, bought them on day 1 and remain as one of my favorite franchises ever; Lost Winds gave me lots of hope for WiiWare at the time as it laid the foundation for solid games in the future from the service.

Since I completed LW2 many years ago now, I've been awaiting a 3rd entry in the series. For a while I thought the reason as to why the 3rd game hadn't been released was because Frontier was developing it for the 3DS, but that obviously hasn't happened. So then I thought maybe they're moving development to the new Wii U, but that hasn't happened either.

So now I am lost and confused, why wouldn't Frontier have released the third one by now? Did the first two not sell enough to grant a third game? Hell, LW and LW2 was given more life when it was released on iOS a couple of years ago that should have driven sales up even more. The series was highly praised from critics and gamers alike so I would think a second sequel would have been here by now.

I remember reading one update from Frontier back a couple of years ago that stated something along the lines of 'we're working on ideas for the next Lost Winds'' and that is the only update I remember reading.

Anyone have any thoughts or share my passion on playing another LostWinds?

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