Lil Wayne had this to say about it on twitter:
"To all my fans, I want u to know that my album won't and hasn't been released bekuz Baby & Cash Money Rec. refuse to release it.
This is not my fault. I am truly and deeply sorry to all my fans but most of all to myself and my family for putting us in this situation.
I want off this label and nothing to do with these people but unfortunately it ain't that easy. I am a prisoner and so is my creativity Again,I am truly sorry and I don't blame ya if ya fed up with waiting 4 me & this album. But thk u"