KeyStar borrows additional $425K under high-interest credit line; total debt $8.1M

VIP Play, Inc.

On July 10, 2024, KeyStar borrowed $425,000 under existing $2M discretionary line of credit with Excel Family Partners.
Outstanding principal balance as of July 12, 2024 is $8,095,000; interest rate fixed at 15.0% per annum.
Excel may convert any portion of the debt into shares at 80% of the lowest recent price (min $0.50/share).
Principal and accrued interest are due on demand; prepayment allowed with notice and accrued interest.
Default triggers additional 2% interest and acceleration at Excel's option.

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