---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-051843"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:47:01.702010+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-24-051843
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315224051843/0001493152-24-051843-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315224051843/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-051843
- JSON: https://secwatch.observer/filing/0001493152-24-051843.json
- Plain text: https://secwatch.observer/filing/0001493152-24-051843.txt

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