VIP Play borrows additional $480k under convertible note; total $8.67M

VIP Play, Inc.

Borrowed $250k on Dec 27, 2024 and $230k on Jan 2, 2025 under convertible line with Excel Family Partners.
Total principal outstanding as of Jan 3, 2025 is $8.665 million; note matures April 1, 2025.
Note bears 12% fixed interest; convertible at 80% of lowest share price in prior 12 months.
Excel is controlled by CEO Bruce Cassidy, making the transaction a related-party debt.

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