Sherdog.com has the story:

The heavyweight bout between Aleksander Emelianenko and Paul Buentello scheduled for Saturday’s Affliction debut event has been cancelled.

According to Bill Douglas of the California State Athletic Commission, Emelianenko did not meet his licensing requirements.

After reading Evgeni Kogan's story about the Russian fighter, I had a pretty strong interest in watching Aleksander fight tomorrow.  No word on whether the fight will be rescheduled.

*UPDATE* MMAJunkie.com is reporting that Gary Goodridge will step in to fight Buentello:

ANAHEIM, CALIF. -- Veteran fighter Gary Goodridge (23-17-1) has stepped in to replace Aleksander Emelianenko (13-3) and will fight Paul Buentello (25-10) at Saturday's "Affliction: Banned" event.

Buentello confirmed the opponent switch with MMAjunkie.com just a few hours after Friday's weigh-ins.

The California State Athletic Commission said Emelianenko didn't meet licensing standards minutes before he was scheduled to weigh in at the Honda Center in Anaheim, the same venue that hosts tomorrow's FSN- and PPV-televised event.

"It's official," Buentello told MMAjunkie.com. "We weigh in at around 11 (a.m.) tomorrow."

Affliction Vice President Tom Atencio was not immediately available to confirm the opponent switch or if bout agreements have been signed.