UPDATE (7:00 p.m.) The New York State Department of Health tells WENY News they have not approved the application for the mass gathering permit. 

In a statement, officials said: 

"We have been in contact with the applicant, Watkins Glen International, with outstanding questions and issues that need to be addressed in order for the Department to complete its review of the application."

WATKINS GLEN, N.Y. (WENY) – One day after a court ruled former investor Dentsu could not cancel the Woodstock 50 festival by pulling its support, Woodstock 50 festival organizers announced they have new investors ready to sign on.

Co-organizers Michael Lang and Gregory Peck told Q104.3 New York's Jim Kerr Rock and Roll Morning Show on Thursday they have new investors ready to sign on.

As WENY News reported, a judge ruled Wednesday the previous financier Dentsu had no right to cancel the event; however the judge also said Dentsu did not have to return $17.8 million that Lang claims they stole. Dentsu argued the money was rightfully theirs and they were retrieving it after pulling financial support.

Additionally, Lang added that tickets will be going on sale soon.

"We're going to try and at least announce the on-sale within a week or 10 days," Lang said. "Everybody's been waiting for this ruling. All the investors that we've been talking with who are ready to close our arrangements have been waiting for this as well. We just have to move everything very quickly."

However, it is unclear whether or not Woodstock 50 and the venue, Watkins Glen International, have obtained the necessary mass gathering permits to hold the festival. WENY News has reached out to the New York State Department of Health to learn the status of the application.

Lang also said the festival now has an “amazing production partner coming in,” but did not name the partner, saying he couldn't make that announcement yet. Shortly after Dentsu pulled their support, production partner Superfly also removed its name from the event.