SPOILERS
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-Wolverine and Cyclops go to a peace conference in order to show the world that Utopia should be considered a nation of its own and such jazz
-Kid Omega (aka Quentin Quire) shows up and makes all the world's leaders at the conference spill there darkest secrets out loud
-Wolverine and Cyclops stop Quentin but the damage is done and people are starting to fear mutants which causes a bunch of nations to bring their old dusty Sentinels out of storage
-Meanwhile some new kid named Kade Kilgore kills his drug kingpin father and becomes the new Black King of the Hellfire Club
-we find out also that Kilgore was the one who set Quentin Quire loose (how he got on Utopia and past Danger is beyond me)
-also, the Hellfire Club has removed all mutant members and is filled with other child geniuses
-back on Utopia, the X-Men are bracing themselves for the fallout of the conference and are going across the globe stopping rampaging Sentinel (since they're old as dirt and barely working)
-Wolverine for some reason starts to form a bond with Idie from Generation Hope since he's worried that her attitude of "being a mutant = being a monster" will lead her down a dark path
-meanwhile in San Francisco...Emma, Magneto, Namor, and the Generation Hope kids go to the opening of a mutant museum
-the Hellfire Kids show up and one by one the X-Men fall....to kids...leaving only Idie to save them
-Cyclops (with his jetpack) and Wolverine are on they're way to help but Cyclops knows they'll be too late and tells Idie to do what she must to save Emma and co.
Wolverine is pretty much screaming "NOOOOO" the whole time
-so Idie kills all the Hellfire Kids' grunts and saves everyone (the Generation Hope tie-in shows the event from Idie's perspective and its a LOT more graphic)
-Jetpack Cyclops and Wolverine finally arrive and Wolverine is pissed that Cyclops had Idie kill
-but all that squabbling is interrupted by the appearance of a huge ass Sentinel being formed over them
and that's where we're at with Schism now...I think we have 2 more issues or so...forgive me for paraphrasing like I did