secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0001493152-24-027069
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224027069/0001493152-24-027069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224027069/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-027069

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