---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-015913"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:12:45.874076+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# KeyStar borrows additional $475K at 15% under amended credit line with Excel Family Partners

## Summary
- Borrowed $475,000 on April 24, 2024 under Fifth Amended Note; total outstanding principal now $5,685,000.
- Interest fixed at 15% per annum, payable monthly in arrears; principal and accrued interest due on demand.
- Lender may convert debt to common shares at 80% of the lowest price per share sold in prior 24 months.
- Company retains right to prepay without penalty with prior written notice and accrued interest.

## SEC filing metadata
- accession: 0001493152-24-015913
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315224015913/0001493152-24-015913-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315224015913/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-015913
- JSON: https://secwatch.observer/filing/0001493152-24-015913.json
- Plain text: https://secwatch.observer/filing/0001493152-24-015913.txt

## Key facts
- Debt Financings
  VIP Play, Inc. incurred credit facility of $5,685,000 aggregate outstanding principal balance as of April 25, 2024 (including additional borrowing of $475,000 on A with Excel Family Partners, LLLP at 15.0% fixed per annum maturing Due upon demand.
  - Instrument: credit facility
  - Principal: $5,685,000 aggregate outstanding principal balance as of April 25, 2024 (including additional borrowing of $475,000 on A
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 15.0% fixed per annum
  - Maturity: Due upon demand
  - Event: incurrence
  source text: On April 24, 2024, we borrowed an additional $475,000 under the Note. As of April 25, 2024, the aggregate outstanding principal balance of all loans under the Note is $5,685,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315224015913/0001493152-24-015913-index.htm

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