{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-24-049862","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2024-12-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:09.911487+00:00","generated_at":"2026-05-29T03:42:58.239263+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"VIP Play borrows additional $180K under convertible note with CEO-controlled entity; total outstanding $7.865M","bullets":["Borrowed $180,000 on Dec 10, 2024 under existing $5M Note with Excel Family Partners (controlled by CEO Bruce Cassidy).","Total outstanding principal as of Dec 13, 2024 is $7,865,000, exceeding original $5M limit.","Note carries 12% fixed interest, convertible at 80% of lowest recent price (floor $0.50), matures April 1, 2025.","Related-party transaction as Excel is controlled by CEO and sole board member Bruce Cassidy.","No use of proceeds specified; funds likely for working capital."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-24-049862","json":"https://secwatch.observer/filing/0001493152-24-049862.json","markdown":"https://secwatch.observer/filing/0001493152-24-049862.md","text":"https://secwatch.observer/filing/0001493152-24-049862.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224049862/0001493152-24-049862-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315224049862/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-29T03:42:58.239263+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}