"Then we are not going to do it."
It is a simple statement expressing a decision not to proceed with something, likely in response to a previous statement or situation.
Here's a breakdown of the translation:
* Entonces: Then
* no: not
* vamos: we are going to (informal)
* hacer: do
Context: The exact meaning can vary depending on the context. It might be a refusal to participate, a change of plans, or a rejection of an idea.