secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2024-05-17T23:59:59+00:00
Accession:  0001493152-24-020380
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224020380/0001493152-24-020380-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224020380/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-020380

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