This is Morphine, a polymorphic crypter originally coded by Holy_Father and the Hacker Defender Team.
Full source code of the original morphine and mods of this polymorphic crypter have already been posted on this website:
This private release of Morphine has been modded to use KOL units instead of default Delphi units by an unknown author; a graphical user interface has been added and the source has been restructured for easier reading.
This Morphine is very thorough in rebuilding the PE, as you can see in the attached screenshot, it successfully crypts a Delphi VCL project.
You must have installed KOL units to compile.
You can find them: http://kolmck.net/
Only Delphi source code is included in the archive.
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