We had brief discussion on our slack just yesterday with bitstardev. Hes main update regarding project was this:
 
Bitstardev:
"We are working on multiple ideas at the same time, i've been back investigating a chain reset, it looks viable and means we can ommit the burned coins better... but now I just have to work out the best way to send coins back to over 85,000 addresses, we'll try and update as soon as we can, but we don't like to give dates as that then causes problems if it doesnt quite come off as planned"

"also means a nice small chain to start off with again."

"not sure yet, want to get my theory tested for the first block, basically block one would be the premine, but premine will have to be split to 85k adddresses"

"not sure how the wallet is going to like that many being sent"

If you want to read more, please join slack and stop complaining.