secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001493152-24-041734
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224041734/0001493152-24-041734-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315224041734/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-041734

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