VIP Play borrows additional $320K under convertible note from CEO's entity; total $8.185M

VIP Play, Inc.

Borrowed $320,000 on Dec 19, 2024 from Excel Family Partners (controlled by CEO Bruce Cassidy) under existing discretionary convertible note.
Total outstanding principal on the note is $8,185,000 as of Dec 23, 2024; interest at 12% fixed per annum.
Note matures April 1, 2025; convertible at 80% of the lowest recent share price in prior 12 months (floor $0.50).
Repayment is on demand by lender; company may prepay with accrued interest only.

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