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Ankit Sharma
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Because of low rating, it got critical acclaim but it lacked in attracting more viewers. So it got cancelled after 3rd season by The CW.

A group of fans calling themselves the "Cloud Watchers" sent more than 10,000 Mars bars to the CW, hoping that the network would reverse its decision and renew the series. (Source: Wikipedia)

The movie was made only to give closers to the unanswered questions. Even Warner Bros. said no to produce the film, it was Kickstarter fund-raising which made it possible.

Here is the creator's word on the whole story.

Note: So if you want to complete the story you need to watch the movie after the 3rd season.

Edit-

As BCdotNET said there is a Season 4 teaser made for an attempt of making season 4 but this teaser is became non-canonical because of movie’s story conflicting with it.

Ankit Sharma
  • 118.9k
  • 98
  • 604
  • 862