{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-001027","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2024-01-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.829190+00:00","generated_at":"2026-06-07T04:11:22.814265+00:00","sec_items":["1.01","2.03","1.02","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"KeyStar restructures debt: converts $10.4M to shares, reduces note to $2M max","bullets":["Converted $10,366,653 of debt under former note into 25,916,632 shares at $0.40/share; outstanding shares rise to 67,821,632.","New $2M demand note from Excel (controlled by sole director) bears 15% interest; no committed line.","$1,540,000 of principal assigned to eight third parties and also converted into 3,850,000 shares.","Outstanding debt after conversion reduced to $1,135,000; note may be converted at 80% of lowest recent price.","Note automatically accelerates on default with 2% interest penalty."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-001027","json":"https://secwatch.observer/filing/0001493152-24-001027.json","markdown":"https://secwatch.observer/filing/0001493152-24-001027.md","text":"https://secwatch.observer/filing/0001493152-24-001027.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224001027/0001493152-24-001027-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224001027/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T04:11:22.814265+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"06d2bcebf9f5ffaffdd4fedab21a4d72b3490031","claim":"VIP Play, Inc. incurred credit facility of principal amount of not more than $2,000,000 with Excel Family Partners, LLLP at fixed rate per annum equal to 15.0% maturing upon demand.","evidence_excerpt":"On December 29, 2023, KeyStar Corp., a Nevada corporation (the “ Company, ” “ we ” or “ our ”), entered into a Fifth 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 $2,000,000 (the “ Note ”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224001027/0001493152-24-001027-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"principal amount of not more than $2,000,000"},{"label":"Counterparty","value":"Excel Family Partners, LLLP"},{"label":"Rate","value":"fixed rate per annum equal to 15.0%"},{"label":"Maturity","value":"upon demand"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}