Official statement from John We would like to confirm that on Tuesday, October 19, 2021, I attended a conference set by the Enforcement and Investor Protection Department (EIPD) of the Securities and Exchange Commission (SEC), the government agency responsible for regulating the securities industry in the country. This meeting was a result of an email I sent in response to being informed of a notice posted by the SEC on their website which mentioned Pancake King and our names. During the conference I candidly informed the hearing officers that the absence of registration was not due to any malicious intent. I explained that it was solely based on misinterpretations of certain portions of the various circulars of SEC and BSP relating to crypto-currencies. It was therefore declared that prior registration was mandatory on account of the wide-ranging scope of the definition of “securities” under the Securities Regulation Code. We expressed our commitment to the hearing officers to take steps to register and comply with all applicable rules and regulations relating to the issuance of crypto-currencies as a form of securities. Our prompt reaching-out to the EIPD and attendance in the conference held earlier today clearly demonstrated the intent of the administrators (or what they referred to as JV and the team) to lawfully abide by the prevailing statutes and remove any doubt about our objective to engage in legitimate business transactions relating to crypto-currencies. For this reason we are therefore discontinuing any form of transaction relating to Pancake King, effective immediately, while our team of lawyers prepare the requirements for our registration with SEC. Once accomplished, this registration will allow us to resume our efforts to promote and carry out our activities. Meanwhile we would like to request for your patience and understanding as you continue to HODL your coins for the duration of this process. Rest assured that we are dedicating our full attention to the registration process and have secured our system at this time. We remain committed to our vision together with you, our community, to advance the potential of crypto-currency in the country towards progress and prosperity. For any concerns you may email us at firstname.lastname@example.org.