Hi Daniel,
Thanks for getting in touch! At the moment, we don’t offer an automated mechanism for cancelling events if ticket sales do not pass a certain threshold. However, you’re always able to change or cancel events manually at your discretion, and we’re currently working to implement functionality that will notify attendees if an event for which they registered is cancelled. You can read more about this planned feature and leave your comments on the feature’s UserVoice page, if you’d like! If you should have any other suggestions for features you’d like to see added to our plugins, we’d love to have you to submit a new feature request, as well!
I’m sorry to disappoint here, but I hope I was able to provide some helpful suggestions! Let me know if you should have any other questions–I’d be more than glad to assist!