---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-000206"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2025-01-03T23:59:59+00:00"
generated_at: "2026-05-28T15:31:57.811436+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-000206
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2025-01-03T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315225000206/0001493152-25-000206-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315225000206/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-000206
- JSON: https://secwatch.observer/filing/0001493152-25-000206.json
- Plain text: https://secwatch.observer/filing/0001493152-25-000206.txt

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