Flex Class Holdings Adopts Blockchain Technology

NAVI MUMBAI, India - Oct. 15, 2017 - PRLog -- Flex Class Holdings, the world's leading online skill development company working directly with the 14 countries of the world purely on the contractual basis, promoting online MBA and skill development programs has fully adopted blockchain technology and will restructure its business for the enhanced web presence.

The equity shares of Flex Class Holdings currently trades on the OTC Premarkets. The annual revenue of the company is close to US $223.67 million and is marginally in loss.

Following the announcement, the stock price of Flex Class Holdings Inc. was trading 17% up at US $130.24 with a market cap of US $8.53 billion.

Flex Class has remained the eye candy of global investors but the company has constantly refused to raise any private equity investments.

The company is also planning its listing on the NASDAQ/OTC Markets in the coming few months.

Flex Class Holdings has appointed IBM for its blockchain adoption and will spend close to US $4.5 million.

Starting next week, Flex Class Holdings will structure all its businesses under flexdegree.io and will launch an Initial Coin Offering (ICO) offering which may begin from November 5, 2017. The ICO will be based on Ethereum.

The company is planning to raise in excess of US $35 million and will issue the whitepaper for the global audience.

Flex Degree will authorize itself 3 billion coins for the lifetime and will issue 35 million coins for the public subscription. The 500 million coins will be issued to US based Kali Global Foundation for the student scholarship and 235 million coins to the partners and team members.

Each Flex Degree coin will be sold for US $1 and will be available to a limited number of investors.

Interestingly, the ICO offering will be fully underwritten by the Hong Kong based ICO underwriter and will remain open for no longer than 7 days.

The ICO once subscribed will begin trading on the OTC Premarkets under the ICO segment. The advisor for the placement and underwriting is EGW Capital Inc., USA.

Flex Class Holdings which has a student base of 3.8 million will make its coins available for buying online courses, scholarships and for remunerating the partners and the team members.

Flex Class Holdings is also planning to launch a scholarship program which will cost the company US $200 million in Flex Degree coins and will benefit 100,000 students. This will also help the company to make its coins available to a wider set of audience and will enhance the liquidity of Flex Degree coins.

Under this scholarship program the students will receive an online MBA degree along with several other skill development courses. The student will have to pay just US $20 for an online MBA course and the rest will be compensated through coin based scholarship program.

According to a representative of Blockchain Capital Association India, Flex Class coins may surpass US $10 in value within one year and may touch a high of US $100 in 2-3 years.

"We are excited as we have done an important transformation. Blockchain is the future and to fund our funding requirements we will do an ICO. We are hopeful that our ICO will create tremendous value for our investors," said Anurag Vaid, Founder of Flex Class.