---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-025386"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2023-07-24T23:59:59+00:00"
generated_at: "2026-06-13T04:28:02.875735+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# KeyStar Corp. increases related-party line of credit to $5M at 15% interest, issues warrant

## Summary
- Third Amended Note raises max principal to $5M from prior $4M; outstanding $4.25M after $400K draw on July 24.
- Fixed 15% annual interest; note is non-revolving and due on demand.
- Warrant issued for 1M shares at $0.25/share, exercisable through July 17, 2028.
- Lender Excel Family Partners is controlled by sole board member/Secretary Bruce Cassidy.
- Proceeds used for general corporate purposes.

## SEC filing metadata
- accession: 0001493152-23-025386
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2023-07-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315223025386/0001493152-23-025386-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315223025386/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-025386
- JSON: https://secwatch.observer/filing/0001493152-23-025386.json
- Plain text: https://secwatch.observer/filing/0001493152-23-025386.txt

## Key facts
- Debt Financings
  VIP Play, Inc. incurred credit facility of not more than $5,000,000 with Excel Family Partners, LLLP at 15.0% per annum maturing upon demand.
  - Instrument: credit facility
  - Principal: not more than $5,000,000
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 15.0% per annum
  - Maturity: upon demand
  - Event: incurrence
  source text: On July 18, 2023, KeyStar Corp., a Nevada corporation (the “ Company, ” “ we ” or “ our ”), entered into a Third Amended and Restated Discretionary Non-Revolving Line Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (“ Excel ”) in the principal amount of not more than $5,000,000 (the “ Note ”). The Note amends and restates that certain Second Amended and Restated Discretionary Non-Revolving Line Of Credit Demand Note between us and Excel entered into on February 24, 2023 in the principal amount of not more than $4,000,000 (the “ Former Note ”). Excel is controlled by Mr. Bruce Cassidy, our Secretary and sole member of our board of directors (the “ Board ”). The Note does not constitute a committed line of credit. Loans under the Note are made by Excel in its sole and absolute discretion. Upon repayment of any amount of principal or interest under the Note, we may not reborrow under the Note. All loans made under the Note accrue int
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315223025386/0001493152-23-025386-index.htm

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