Despite the fanfare and premature cries of 'victory for the (ahem) real Rangers men', it is slowly dawning upon the less-blinkered loyal that Dave King's snake oil and wide-eyed promises of 'bringing back the good times' has as much substance as a bridge made out of balsa wood.
Ashley still owns shares in the club, he's tied up all the lucrative retail revenue and lest we forget he has this Rangers board by the proverbials with a loan agreement made with their predecessors.
And it is this loan that will give as clear indication as any as to whether or not Mr King was being genuine with his claim that he had 'millions' (his kiddiewinkles' inheritance remember) to pump into Rangers.
That claim took a dent when King had to borrow £1.5million from the group calling themselves "The Three Bears" to cover the wage bill last month.
The aforementioned claim is now close to being blown out of the water because Mike Ashley now wants his £5million back.
If King did have the big war chest that he boasted about prior to his little coup being completed then surely paying the man back his money would be no problem?
In fact, if he was so fabulously wealthy, buying out Mr Ashley's shares in Rangers wouldn't be much of an issue as well? Wouldn't it?
It appears so.
The Springbok King has, after being greeted as if he was the second coming itself back in March, has retreated back to the Transvaal and, for a man who had so much to say for himself, mysteriously gone quiet.
Remember what he had to say all those weeks ago?
"I have a NOMAD lined up to represent the club on the Stock Exchange."
Turns out he didn't and the boys in the City threw the club out. Attempts to join another market, ISDX, have so far proved to be fruitless.
As for the millions he had all ready to be pumped into the Ibrox coffers?
For a man so wealthy he has either lost his wallet or he doesn't have any spare cash.
Maybe that cash went on the £40-odd million used to pay back the South African tax authorities in order to avoid being sent to prison? Possibly.
King's lackeys at Ibrox have been trying to spin out the yarn that he is waiting upon the Scottish Football Association's verdict on whether or not he has satisfied their requirements to pass the 'Fit and Proper Person' test to determine whether or not to let him become a board member of Rangers.
That's a red herring. For King to invest, he can do so right now and even do that should the SFA 'fail' him (at the time of writing, a decision has yet to be made).
When Vladimir Romanov took control of Heart of Midlothian back in 2005, he was not a fully-fledged board member.
Others were appointed to run that board. Romanov, who did have cash back then, pumped money into the Edinburgh side despite not being on the board of directors.
King can do the same but has not done so.
The reasons as to why this has not happened remain in a foggy field of conjecture. However, one suspects that this move to oust the last board at Rangers was one gigantic bluff.
King was possibly banking on some cash floating around the place by the time he took over. Wrong - things really had gotten so bad, much to the apartheid-rand-taker's horror.
He probably thought that Mike Ashley would be easy to push over - hence the insults flung towards the Newcastle United owner prior to that infamous egm. Wrong - you don't become a genuine billionaire without being ruthless and Machiavellian. Ashley has, and like an elephant, he doesn't forget and has now taken off the gloves with regard to this Springbok usurper.
King probably thought he could waltz in and launch a share issue. Wrong - for that you need to be in the Stock Exchange and because you had no NOMAD.... well, you know the rest.
For those of you familiar with the animated TV comedy show 'South Park', you will recall an episode where the resident narcissist, Eric Cartman, inherits 10 million dollars and uses it to fulfill a dream to buy and run his own amusement park.
Unfortunately for him, the dream became a nightmare as the big inheritance haemorrhaged cash faster than one of his roller-coasters and he lost the lot.
Unless Dave King can find that investment cash he bragged about a few weeks ago, regardless of whether or not the SFA pass him as 'fit and proper', his Ibrox pipedream looks set to hurtle down the big dipper.