Revelation 17:8 The beast that thou sawest was, and is not; and shall ascend out of the bottomless pit, and go into perdition: and they that dwell on the earth shall wonder, whose names were not written in the book of life from the foundation of the world, when they behold the beast that was, and is not, and yet is.

The beast was (meaning he was once alive),

 and is not (meaning that he was dead at the time of the writing of the Book of  Revelations),

 and yet is (meaning he will ascend, come up and out of, the bottomless pit to become the antichrist or 8th king.

The time is at hand for this to happen; the question is whether he will come as himself or into another living person.

 Exciting times to be alive.