---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-034544"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2024-08-30T23:59:59+00:00"
generated_at: "2026-05-31T06:50:26.315775+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-034544
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2024-08-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315224034544/0001493152-24-034544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315224034544/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-034544
- JSON: https://secwatch.observer/filing/0001493152-24-034544.json
- Plain text: https://secwatch.observer/filing/0001493152-24-034544.txt

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