---
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"
generated_at: "2026-05-29T03:42:58.239263+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# VIP Play borrows additional $180K under convertible note with CEO-controlled entity; total outstanding $7.865M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-049862
- JSON: https://secwatch.observer/filing/0001493152-24-049862.json
- Plain text: https://secwatch.observer/filing/0001493152-24-049862.txt

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