secwatch.observer — SEC 8-K summary
======================================

Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2022-07-05T23:59:59+00:00
Accession:  0001393905-22-000228
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 3.02, 3.03, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000139390522000228/0001393905-22-000228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000139390522000228/keyr-20220628.htm
  HTML page:      https://secwatch.observer/filing/0001393905-22-000228

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer