---
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"
generated_at: "2026-05-28T02:13:53.751543+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# VIP Play borrows additional $650K under CEO-controlled convertible note; total debt $9.315M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-002142
- JSON: https://secwatch.observer/filing/0001493152-25-002142.json
- Plain text: https://secwatch.observer/filing/0001493152-25-002142.txt

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