The third wave of Art Asylum's Madballs series was planned for release in September 2009. At Toy Fair 2009 (Feb. 15th) the new toys were there, and pictures of this can be found here.
Basic Fun, one of the companies behind Madballs at the time, had merged with Good Stuff Inc, and Madballs was one of the losses of said merger, bringing an end to Art Asylum's Madballs line.
These are the madballs they were planning on releasing
The old Madballs were going to be:
The new Madballs were planned to be: