Nothing has changed. The risk and opportunity is what it always has been, but Delfin has accomplished loads since the TGLO acquisition, and:
1) Delfin continues to fund the SEC compliant TGLO shell quarterly.
2) Egan's 22M shares. If these don't materialize for him, then he used the TGLO loss on the 70.9% sold to Delfin to shelter cap gains on other investments, However, I'm still betting he wants both sides of that deal. I think there's a strike price where he gets all his cash back, plus opportunity cost, and it wouldn't surprise me if he's a legacy lender to Delfin with convertible options, assuming of course he is still involved, but why wouldn't he be?
Bullish
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