---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-038986"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T23:41:47.963230+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# VIP Play borrows additional $550K from insider convertible note; total $6.285M

## Summary
- Borrowed $550,000 on Sept 26, 2024 under discretionary convertible note with CEO's entity Excel Family Partners.
- Total principal outstanding $6,285,000 as of Oct 1, 2024; note matures Apr 1, 2025 but payable on demand.
- Interest at 12% fixed per annum; conversion price at 80% of lowest recent stock price (floor $0.50/share).
- Related-party transaction: lender Excel is controlled by CEO and sole board member Bruce Cassidy.

## SEC filing metadata
- accession: 0001493152-24-038986
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315224038986/0001493152-24-038986-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315224038986/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-038986
- JSON: https://secwatch.observer/filing/0001493152-24-038986.json
- Plain text: https://secwatch.observer/filing/0001493152-24-038986.txt

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