---
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"
generated_at: "2026-06-01T16:48:52.354216+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# KeyStar borrows additional $325K under line of credit; total outstanding $6.01M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-020380
- JSON: https://secwatch.observer/filing/0001493152-24-020380.json
- Plain text: https://secwatch.observer/filing/0001493152-24-020380.txt

## Key facts
- Debt Financings
  VIP Play, Inc. incurred debt of an additional $325,000 with Excel Family Partners, LLLP at 15.0% maturing upon demand.
  - Principal: an additional $325,000
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 15.0%
  - Maturity: upon demand
  - Event: incurrence
  source text: ine Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (“ Excel ”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315224020380/0001493152-24-020380-index.htm

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