{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-002142","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2025-01-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.157067+00:00","generated_at":"2026-05-28T02:13:53.751543+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"VIP Play borrows additional $650K under CEO-controlled convertible note; total debt $9.315M","bullets":["Borrowed $375,000 on Jan 9, 2025 and $275,000 on Jan 14, 2025 from Excel Family Partners (Bruce Cassidy, CEO/Chairman).","Total outstanding principal under the 12% convertible demand note now $9,315,000 as of Jan 14, 2025.","Maturity April 1, 2025; interest payable monthly at 12% fixed rate; conversion at 80% of lowest recent price (floor $0.50).","Note is with related party (Excel controlled by CEO); no committed line, loans at lender's discretion.","Company cannot reborrow after repayment; prepayment permitted with notice and accrued interest."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-002142","json":"https://secwatch.observer/filing/0001493152-25-002142.json","markdown":"https://secwatch.observer/filing/0001493152-25-002142.md","text":"https://secwatch.observer/filing/0001493152-25-002142.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225002142/0001493152-25-002142-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225002142/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-28T02:13:53.751543+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}