secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2022-09-16T23:59:59+00:00
Accession:  0001393905-22-000369
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KeyStar acquires Ultimate Gamer assets from related party in stock deal, borrows $160K, issues shares, director resigns
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- Acquired Ultimate Gamer IP assets from Excel Members (53.7% owned by director Cassidy) for 1.5M shares valued at $1.00 each.
- Assigned mask/convention business assets and liabilities to Topsight Corporation, controlled by former CFO Zixiao Chen.
- Borrowed $160,000 under $2M line of credit from Excel Family Partners for working capital; total outstanding $1,202,123.
- Sold 250,000 shares at $1.00 each in private placement to one accredited investor, raising $250,000.
- Director Roger Tichenor resigned; board now consists of Cassidy and John Linss.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000139390522000369/0001393905-22-000369-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000139390522000369/keyr-20220912.htm
  HTML page:      https://secwatch.observer/filing/0001393905-22-000369

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