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VIPKid for a wider range of K-12 subjects and small-group classes.

Sylvan Learning Center, but entirely online and focused on live, interactive small-group classes.

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• Online K-12 After-School Courses: Live, interactive online small-group and one-on-one courses providing K-12 students with academic tutoring and enrichment across various subjects.

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Classover (symbol: KIDZ) primarily sells its services directly to individuals.

Its major customer categories include:

• Parents/Guardians seeking academic enrichment and skill development for their K-12 children: These customers are looking for high-quality, convenient online classes to supplement their children's schooling, improve grades, learn new skills (e.g., coding, chess), or develop existing talents (e.g., art, music). They value the flexibility, variety, and qualified instructors offered by Classover.
• Parents/Guardians interested in cultural and language education, particularly Chinese: Classover has a strong offering in Chinese language and cultural arts (e.g., Abacus). This category specifically targets families, often of Chinese descent living abroad, who wish for their children to maintain or develop proficiency in Chinese language and culture.
• Busy working parents looking for structured and engaging after-school activities: For parents who work and need structured, supervised, and educational activities for their children after school or during holidays, Classover provides an online solution that is both educational and convenient, reducing the need for physical transportation.

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Stephanie Luo, Chief Executive Officer & Chairwoman

Ms. Stephanie Luo (also known as Hui Luo) is the Founder of Classover Holdings, Inc. and has served as its Chief Executive Officer and Chairwoman since June 2020. Prior to founding Classover Holdings, Inc., Ms. Luo founded Dream... Her academic journey and experience as a mother inspired her to create Classover, aiming to make world-class education accessible.

Yanling Peng, Chief Financial Officer

Yanling Peng serves as the Chief Financial Officer of Classover Holdings, Inc. Her annualized base salary was approved to increase to $156,000, effective May 1, 2025. Further background information regarding her involvement with other companies, sales of companies, or a pattern of managing private equity-backed companies is not publicly available in the provided search results.

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Key Risks to Classover (KIDZ)

1. Poor Financial Health and High Risk of Bankruptcy: Classover exhibits poor financial strength, characterized by high debt levels, negative margins, significant losses, and negative operating cash flow. The company's Altman Z-Score of 0.01 places it in a distress zone, implying a high risk of bankruptcy within the next two years. Additionally, Classover has received a notice from Nasdaq due to a minimum bid price deficiency, requiring its stock to maintain a closing bid price of at least $1.00 per share to avoid delisting.
2. Stock Volatility and Speculative Trading: The company's stock is highly volatile, experiencing significant short-term price fluctuations that appear disconnected from its earnings fundamentals or traditional valuation measures. Recent extraordinary price surges have been driven by speculative interest rather than intrinsic value, and the stock is considered "very high risk" due to its unpredictable behavior.
3. Challenges in Customer Acquisition and Market Acceptance: Classover itself acknowledges the risk associated with its ability to successfully execute its business model, including gaining market acceptance for its products and services, and attracting and retaining a large customer base.

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The rapid development and adoption of artificial intelligence-powered personalized learning platforms and AI tutors poses a clear emerging threat. These technologies, exemplified by advancements in generative AI and its integration into educational tools like Khan Academy's Khanmigo, offer highly personalized, on-demand, and potentially significantly lower-cost learning experiences. This directly threatens the traditional live online class model offered by Classover by providing a scalable, accessible, and adaptive alternative for K-12 enrichment, thereby challenging the value proposition of human-led online instruction.

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Classover (symbol: KIDZ) specializes in live online courses for K-12 students, offering a diverse curriculum that includes academic tutoring, after-school enrichment, and test preparation. The company is also developing a next-generation AI-powered tutoring platform, with pilot programs expected in late 2025 or early 2026 and a full public launch anticipated in 2026.

The addressable markets for Classover's main products and services are substantial:

• Global K-12 Online Education Market: This market was valued at approximately USD 171.5 billion in 2024 and is projected to reach USD 2,248.36 billion by 2033, exhibiting a compound annual growth rate (CAGR) of 33.1% from 2025 to 2033.

• U.S. Online Private Tutoring Market: This market was estimated at USD 4,325.9 million in 2024 and is projected to grow at a CAGR of 11.1% from 2025 to 2030, reaching approximately USD 8,087.9 million by 2030.

• China After-School Tutoring Market: This market, which includes online tutoring, was valued at approximately USD 99.32 billion in 2025 and is projected to grow to USD 168.87 billion by 2030, with a CAGR of 11.23%.

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Expected Drivers of Future Revenue Growth for Classover (KIDZ) over the Next 2-3 Years:

1. Strategic Acquisitions and Partnerships: Classover aims to expand its global reach and enrich its educational content through strategic acquisitions and partnerships. This initiative is a key component of its projected 2025 revenue growth of 172%-308%.
2. AI Innovation and Launch of Next-Generation AI-Powered Tutoring Platform: The company is heavily investing in artificial intelligence, including the development of a proprietary AI learning agent and a new AI-powered tutoring platform. This platform, which will offer unlimited access to AI-led lessons via a monthly subscription, is expected to begin pilot programs in late 2025 or early 2026, with a full public launch anticipated in 2026.
3. Organic Expansion and Growth in Customer Base: Classover's forward guidance for 2025 revenue growth is partly driven by anticipated organic expansion. The company demonstrated significant growth in 2024, with registered users increasing by 57.6% to 61,387 and total classes delivered rising by 16.5% to 114,135, indicating a continued ability to attract and retain students.
4. Launch of On-chain Digital Learning Credential (ODLC): In October 2025, Classover introduced its AI-verified On-chain Digital Learning Credential (ODLC) on the Solana network. This blockchain-based framework records and verifies learning achievements as immutable digital tokens, potentially creating new revenue streams by offering verifiable and portable credentials for students, schools, and employers.

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Share Issuance

• In October 2025, Classover exchanged 62,068 shares of Series A Preferred Stock for 596,808 shares of Class B common stock to simplify its capital structure.
• In April 2025, Classover issued 5,000 shares of Series B Preferred Stock for approximately $4.75 million (net of original issue discount) due to the exercise of preferred warrants by a PIPE Investor.
• On April 30, 2025, Classover entered into an Equity Purchase Facility Agreement for the right to issue and sell up to $400 million in newly issued shares of common stock.

Inbound Investments

• Classover secured financing facilities totaling up to $900 million, comprising a $400 million equity purchase agreement and a $500 million senior secured convertible note investment.
• On May 1, 2025, Classover entered into an Equity Purchase Facility Agreement with Solana Strategies Holdings LLC, enabling the sale of up to $400 million of Class B Common Stock, with proceeds earmarked for its Solana-centric digital asset treasury strategy, working capital, and strategic acquisitions.
• Classover entered into a securities purchase agreement with Solana Growth Ventures LLC for up to $500 million in senior secured convertible notes, with an initial funding of $11 million occurring on June 12, 2025.

Outbound Investments

• As of October 2, 2025, Classover held 57,793 Solana (SOL) tokens in its treasury, valued at approximately $13.4 million.
• A substantial portion of the proceeds from the $400 million equity purchase agreement and the $500 million convertible note investment is intended for additional Solana (SOL) token acquisitions.
• On July 7, 2025, Classover acquired a strategic portfolio of intellectual property (IP) assets to accelerate the development of its AI-powered tutoring platform, focusing on machine-learning, device-to-device communication, intelligent data coordination, and adaptive scheduling.

Capital Expenditures

• In the 12 months ending June 30, 2025, capital expenditures amounted to approximately -$49,311.
• Investing cash flow was -$49,000 as of April 14, 2025.
• The primary focus of capital allocation includes strengthening the company's Solana-based treasury strategy and advancing its AI-powered tutoring platform.