When will this be released?
When they premined enough to sell them on suckers who payed for coins before emunie was even released:
http://forum.emunie.com/index.php/topic/420-ann-emunie-pre-launch-sale-details-information-draft/This is a new one.
But hey, why try to pump and dump if you can save yourself some trouble by sell them before you release your closed source junk @ 0.10$ each.

And by giving some people early access so they also can premine a bit, you get some people on your side who can convince others this isn't a scam.
Indeed wasting your life for 1 year to come up with a new alt coin scam. Saving yourself a lot of trouble, by coding night and day for a year straight, instead of just copy pasting 1000 clones in that same time.
The first one with a beta invite that probably even bought a lot of crapcoins just walked into the topic. Tell me how much did you buy?
And I guess the dev is sure that this little scam will earn him enough, and else he can always put a wallet stealer in the client. Nobody can look it up anyway, because it's closed source software.