Response to FDACS Case 2309-35816

FOR IMMEDIATE RELEASE

King-George Management Holding Corp.

Previously BitJet Corp.

King-George Management Addresses Allegations of Administrative Misconduct by the Florida Department of Agriculture and Consumer Services

Leesburg, FL – February 12th, 2024 

King-George Management Holding Corp. [King-George Management] , previously BitJet Corp., is issuing this press release to inform the public about the recent allegations of Administrative Misconduct made by the Florida Department of Agriculture and Consumer Services.

The Florida Department of Agriculture and Consumer Services has initiated an Administrative Conduct case against BitJet Corp., citing concerns related to administrative misconduct within the company's operations. The specific allegations against BitJet Corp. revolve around the violation of Section 496.415 of Florida Statutes, which prohibits certain acts in connection with solicitation or charitable sales promotion. According to the Florida Department of Agriculture and Consumer Services, BitJet Corp. is accused of operating in violation of, or failing to comply with, the requirements outlined in sections 496.401-496.424, F.S.

The key facts supporting these allegations include the discovery that BitJet Corp. was actively soliciting funds from the State of Florida or individuals within the State of Florida through their website on January 10, 2024. It is alleged that the company failed to file the necessary documentation, as required by either Section 496.405(1), F.S., or Section 496.406(2), F.S., after its registration had expired on August 10, 2023.

King-George Management reaffirms that on May 15th, 2023, BitJet Corp. was on the auto-revocation list, and had it's federal tax-exempt status removed. Organizations who have their tax-exempt status removed, must file differently than an tax-exempt organization, and are treated as a typical corporation including payment of Corporate Income Taxes. After deliberation, on October 10th, 2023, BitJet Corp. was renamed into King-George Management and issued shares of stock, as in accordance with all applicable laws and regulations.

The Florida Department of Agriculture and Consumer Services is currently conducting an Administrative Conduct case to investigate these allegations, and King-George Management is fully cooperating with the authorities during this process. The company is committed to addressing the situation with transparency and diligence, while also conducting an internal review to assess the validity of the allegations. King-George Management is committed to maintaining the highest standards of integrity, transparency, and compliance with all applicable laws and regulations.

King-George Management would like to emphasize that the alleged Administrative Misconduct does not reflect the company's values, and it is committed to addressing the situation with utmost diligence. King-George Management has a long-standing reputation for maintaining strong relations with previous donors, under BitJet Corp., and current shareholders. The company remains dedicated to advancing the King-George mission and ensuring the satisfaction of its customers and stakeholders.

King-George Management will continue to keep the public informed as the investigation progresses and will take necessary steps to rectify any identified issues. The company appreciates the support of its customers, partners, and the community during this challenging time.

For further information or media inquiries, please contact:

Steven George

Chief Executive Officer

StevenGeorge@kgmhc.com