{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-020380","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2024-05-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.553057+00:00","generated_at":"2026-06-01T16:48:52.354216+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"KeyStar borrows additional $325K under line of credit; total outstanding $6.01M","bullets":["Borrowed $325,000 on May 13, 2024 under existing Fifth Amended Note with Excel Family Partners.","Aggregate outstanding principal balance under the Note increased to $6,010,000 as of May 17, 2024.","Loans accrue interest at a fixed rate of 15% per annum; principal and interest due on demand.","Excel may convert debt into shares at 80% of the lowest recent price per share over prior 24 months.","Original Note authorized up to $2,000,000; current balance exceeds that authorized amount."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-020380","json":"https://secwatch.observer/filing/0001493152-24-020380.json","markdown":"https://secwatch.observer/filing/0001493152-24-020380.md","text":"https://secwatch.observer/filing/0001493152-24-020380.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224020380/0001493152-24-020380-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224020380/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-01T16:48:52.354216+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":"a53b4789eda21c2a7602ec4c55e4fb9ca3fc9d13","claim":"VIP Play, Inc. incurred debt of an additional $325,000 with Excel Family Partners, LLLP at 15.0% maturing upon demand.","evidence_excerpt":"ine Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (“ Excel ”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224020380/0001493152-24-020380-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Principal","value":"an additional $325,000"},{"label":"Counterparty","value":"Excel Family Partners, LLLP"},{"label":"Rate","value":"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"}