---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-033053"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2023-09-19T23:59:59+00:00"
generated_at: "2026-06-10T13:47:35.677308+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CFO departs KeyStar; CEO becomes acting CFO; credit line expanded to $10M with warrant

## Summary
- CFO Anthony Fidaleo departed Sept 15; CEO Mark Thomas serves as interim CFO without extra compensation.
- Entered $10M non-revolving credit line with Excel Family Partners (affiliate of board secretary) at 15% interest, replacing $5M line.
- Issued warrant for 3.4M shares at $0.25 to Excel, exercisable through Sept 2028; debt convertible at 80% of lowest recent price.
- Outstanding balance as of Sept 19 was $7.14M, including conversion of $377K accrued interest and $1.76M bridge loan repayment.

## SEC filing metadata
- accession: 0001493152-23-033053
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2023-09-19T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315223033053/0001493152-23-033053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315223033053/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-033053
- JSON: https://secwatch.observer/filing/0001493152-23-033053.json
- Plain text: https://secwatch.observer/filing/0001493152-23-033053.txt

## Key facts
- Debt Financings
  VIP Play, Inc. amended credit facility of $10,000,000 with Excel Family Partners, LLLP at 15.0% per annum maturing on demand.
  - Instrument: credit facility
  - Principal: $10,000,000
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 15.0% per annum
  - Maturity: on demand
  - Event: amendment
  source text: On September 14, 2023, KeyStar Corp., a Nevada corporation (the " Company, " " we " or " our "), entered into a Fourth 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 $10,000,000 (the " Note "). The Note amends and restates that certain Third Amended and Restated Discretionary Non-Revolving Line Of Credit Demand Note between us and Excel entered into on July 18, 2023 in the principal amount of not more than $5,000,000 (the " Former Note ").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315223033053/0001493152-23-033053-index.htm
- Executive change
  Anthony Fidaleo departed as Chief Financial Officer at VIP Play, Inc..
  - Action: departed
  - Role: Chief Financial Officer
  source text: On and effective as of September 15, 2023, Anthony Fidaleo departed as our Chief Financial Officer, Principal Financial Officer, Principal Accounting Officer and Treasurer (collectively, our “ CFO ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315223033053/0001493152-23-033053-index.htm
- Executive change
  Mark Thomas was appointed as Acting Chief Financial Officer at VIP Play, Inc..
  - Action: appointed
  - Role: Acting Chief Financial Officer
  source text: Mark Thomas, our current Chief Executive Officer, Principal Executive Officer and President since January 10, 2023, has agreed to serve as our acting CFO on an interim basis until such time as we appoint a new permanent CFO.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315223033053/0001493152-23-033053-index.htm

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