KeyStar borrows additional $475K from related-party convertible note; total $5.285M outstanding

VIP Play, Inc.

Borrowed $475,000 on Aug 28, 2024 under convertible note from Excel Family Partners (CEO Bruce Cassidy's entity).
Aggregate outstanding principal now $5,285,000, exceeding original $5,000,000 note cap.
Note has 12% fixed interest, maturity April 1, 2025, convertible at 80% of lowest prior share price (floor $0.50).
Note is a demand obligation; no reborrowing allowed after any repayment.

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