China Education Partnership Decision

Dear James and Sherman,

Thank you for the time and energy you've invested in exploring the possibility of building educational institutions together in Shanghai and Asia. We appreciate your market knowledge, government connections, and strategic thinking.

After careful consideration, we've decided to respectfully decline moving forward with the China education partnership as currently structured for this year.

While we recognize the significant opportunity, we've concluded that the risk-reward ratio isn't aligned with our current priorities. The complexity of navigating international regulatory environments and potential scrutiny represents substantial risk that outweighs the near-term benefits.

More importantly, we want to dedicate 60-70% of our efforts to building something exceptional in Tulsa first - a Renaissance of innovation and education that serves as proof of concept for transformational change.

We remain open to exploring opportunities in China and Asia in 2026, once we've established a strong foundation domestically.

We're grateful for your willingness to explore something serious with us and wish you tremendous success in your educational ventures.

Best regards,

Lael and Gary

---

June 24, 2025