secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2025-01-30T23:59:59+00:00
Accession:  0001493152-25-004248
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VIP Play borrows additional $455K under convertible note with CEO; total outstanding $9.77M
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- Borrowed $150,000 on Jan 21 and $305,000 on Jan 29, 2025 under convertible note with Excel Family Partners (CEO-controlled)
- Total outstanding principal as of Jan 30, 2025 is $9.77M, up from $4.41M in Aug 2024
- Note matures April 1, 2025; 12% fixed interest; convertible at 80% of lowest recent price (floor $0.50 per share)
- Note is a discretionary demand facility; Excel may convert debt into common stock at any time

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315225004248/0001493152-25-004248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315225004248/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-004248

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