MMA Weekly has the story regarding Adrenaline III:

The New Jersey State Athletic Control Board has refused to sanction the headlining bout, according to Commissioner Nick Lembo, though he declined to comment on the decision.

Adrenaline III will go on as an all-MMA card, and several replacements for the main event are under consideration, including Jeremy Horn.

Adrenaline promoter Monte Cox is currently searching for another venue to host the Sylvia/Mercer tilt, and indicated June as a possibility for the rescheduled event.

This was a ridiculous idea from the beginning.  The troubling aspect of the above report is that Cox is looking to find a commission (or maybe a place on earth without a commission) that's willing to allow this match to take place.

Props to MMA For Real