---
schema_version: "secwatch.filing_event.v1"
accession: "0001393905-23-000025"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2023-01-17T23:59:59+00:00"
generated_at: "2026-06-20T14:53:54.468907+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# KeyStar Corp. CEO John Linss resigns; Mark Thomas appointed CEO with $380K salary and 1M option grant

## Summary
- John Linss resigned as CEO, President, and CTO effective Jan 10, 2023; gets 6 months base salary, $425K bonus, $15K expense reimbursement.
- KeyStar to purchase Linss' 3,313,333 Series C Preferred shares for $2M ($300K cash, balance via 5% note due on listing or 24 months).
- Mark Thomas, previously CMO/CPO, appointed CEO, President, and CTO with annual salary of $380K; milestones may raise total comp to $500K+.
- Board to recommend granting Thomas option to purchase 1M common shares, vesting over 4 years (25% after one year, monthly thereafter).
- Linss agrees to one-year non-compete and non-solicitation within the US; releases all claims against KeyStar.

## SEC filing metadata
- accession: 0001393905-23-000025
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2023-01-17T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000139390523000025/0001393905-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000139390523000025/keyr-20230110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393905-23-000025
- JSON: https://secwatch.observer/filing/0001393905-23-000025.json
- Plain text: https://secwatch.observer/filing/0001393905-23-000025.txt

## Key facts
- Executive change
  John Linss resigned as Chief Executive Officer, President and Chief Technology Officer at VIP Play, Inc..
  - Action: resigned
  - Role: Chief Executive Officer, President and Chief Technology Officer
  source text: Effective January 10, 2023, Mr. John Linss (“ Linss ”) resigned as a member of the KeyStar Corp., a Nevada corporation (the “ Company ”), board of directors (the “ Board ”) and as the Company’s Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer pursuant to the terms of a Separation Agreement and Release dated the same date (the “ Separation Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000139390523000025/0001393905-23-000025-index.htm
- Executive change
  Mark Thomas was appointed as Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer at VIP Play, Inc..
  - Action: appointed
  - Role: Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer
  source text: On January 10, 2023, the Board appointed Mark Thomas (“ Thomas ”) as the new Chief Executive Officer, Principal Executive Officer, President and Chief Technology Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000139390523000025/0001393905-23-000025-index.htm

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