---
schema_version: "secwatch.filing_event.v1"
accession: "0001393905-22-000228"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2022-07-05T23:59:59+00:00"
generated_at: "2026-06-24T21:26:35.107601+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# KeyStar Corp. sells $200k Series C Preferred to related party; appoints two directors

## Summary
- Sold 666,666 Series C Preferred shares at $0.30/share ($199,999.80 total) to Excel Family Partners; exempt under Rule 506(b).
- Series C Preferred carries liquidation preference of $0.30 plus 6% annual compounded; converts on $6M offering or holder's request.
- Board appointed John Linss (former Caesars CTO) and Bruce A. Cassidy (Secretary, ex-CEO) as directors effective June 28, 2022.
- Bruce Cassidy controls both the Series C investor (Excel) and a $250,000 line of credit from Excel dated Feb 2022.
- Related-party transactions disclosed: Cassidy's entities hold Series B Preferred and promissory notes.

## SEC filing metadata
- accession: 0001393905-22-000228
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2022-07-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000139390522000228/0001393905-22-000228-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000139390522000228/keyr-20220628.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393905-22-000228
- JSON: https://secwatch.observer/filing/0001393905-22-000228.json
- Plain text: https://secwatch.observer/filing/0001393905-22-000228.txt

## Key facts
- Executive change
  John Linss was appointed as Director at VIP Play, Inc..
  - Action: appointed
  - Role: Director
  source text: On June 28, 2022, the Board created two new directorships and appointed John Linss and Bruce A. Cassidy to the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000139390522000228/0001393905-22-000228-index.htm
- Executive change
  Bruce A. Cassidy was appointed as Director at VIP Play, Inc..
  - Action: appointed
  - Role: Director
  source text: On June 28, 2022, the Board created two new directorships and appointed John Linss and Bruce A. Cassidy to the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000139390522000228/0001393905-22-000228-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.