In the late 70s, the controversial Sensei Toby Masterson amassed a cult-like following from a series of VHS martial arts lessons, in which he alludes to a very sought-after technique. Twenty years later, two dedicated and self-taught students drag along their friend in search of Lesson 100 aka The Punch of Respect.

Two old friends, one severely down on his luck, reunite to attempt a get-rich quick scheme that goes, predictably awry. Hard-luck Paul, recently out of a job and rudely dumped by his girlfriend, has to sell his car in order to pay his rent. Lying around in a depressed fog, he is contacted out of the blue by an old friend, Freddie, a mysterious man ineptly obsessed with all things Asian. He has come to town to conduct some kind of quasi-legal business transaction he is convinced will leave him wealthy. As Paul learns more about the scheme, he becomes inexorably involved until he has to put everything on the line.