impact on enrollment at martial arts studios

The maturity date of the Notes is January 3, 2021 (the Maturity Date The Company is required to redeem the Notes in principal installments of (i) $1,500,000 payable on August 31, 2018, (ii) $1,750,000 payable on the last day of the fiscal quarter ending September 30, 2018, (iii) $1,250,000 payable on the last day of the fiscal quarter ending December 31, 2018 and (iv) $1,500,000 payable on the last day of each fiscal quarter beginning with the fiscal quarter ending March 31, 2019 and continuing through the last full fiscal quarter prior to the Term Maturity Date. 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