VIP Play borrows $225k more under CEO-related convertible note; total $6.51M outstanding

VIP Play, Inc.

Borrowed $100,000 on Oct 11 and $125,000 on Oct 17, 2024, under existing discretionary convertible note with Excel Family Partners (CEO Bruce Cassidy controls Excel).
Total outstanding principal balance as of Oct 21, 2024 is $6.51 million (up from $4.41 million in August 2024).
Note carries 12% fixed interest, due on demand or April 1, 2025; convertible at 80% of lowest recent price (floor $0.50 per share).
Loans are solely at Excel's discretion; no committed line; no reborrowing after repayment.

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