Ann: Back to school market update - February 2018, page-27

I'd be very (pleasantly) surprised if school revenue was that high for March quarter but I think its a stretch. Not all will be paying upfront, and others might be paying a shortfall payment (ie where they mandate a certain number of parents to use it but that number isn't reached...that will be calculated later). Also some partner schools are just required to promote FZO to their school's community.

If I had to estimate school rev for March quarter, I'd guess $700k to $1.2m range (including subscribers from schools that are only promoting). And I think that's pretty consistent with the contracted and recurring revenue numbers they've put out. I'd be pretty happy with that range for the first quarter ever of school revenue!

Cdchi1