secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2024-09-16T23:59:59+00:00
Accession:  0001493152-24-036324
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KeyStar borrows additional $450K from CEO-affiliated lender; total debt $5.735M
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- Borrowed $450,000 on Sept 11, 2024 under existing note with Excel Family Partners (CEO Bruce Cassidy controls lender).
- Total outstanding principal now $5,735,000; note carries 12% fixed interest, matures April 1, 2025.
- Note is convertible into common stock at 80% of the lowest recent price in prior 12 months.
- Interest payable monthly starting Oct 1, 2024; principal due on demand or at maturity.
- Loan is uncommitted; no reborrowing after repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224036324/0001493152-24-036324-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224036324/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-036324

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