---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-010888"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2025-03-19T23:59:59+00:00"
generated_at: "2026-05-24T12:05:53.872873+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# VIP Play draws additional $740K from CEO affiliate note; balance rises to $11.68M

## Summary
- Borrowings under convertible note with CEO's affiliate Excel reach $11.68M, up from $4.41M at inception.
- Interest fixed at 12% p.a.; note matures April 1, 2025; conversion at 80% of lowest recent stock sale price.
- Four draws totaling $740,000 occurred between March 7-14, 2025.
- The note is uncommitted; Excel may demand payment at any time, with optional conversion to common stock.

## SEC filing metadata
- accession: 0001493152-25-010888
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2025-03-19T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000149315225010888/0001493152-25-010888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315225010888/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-010888
- JSON: https://secwatch.observer/filing/0001493152-25-010888.json
- Plain text: https://secwatch.observer/filing/0001493152-25-010888.txt

## Key facts
- Debt Financings
  VIP Play, Inc. incurred convertible notes of $740,000 with Excel Family Partners, LLLP at 12.0% maturing April 1, 2025.
  - Instrument: convertible notes
  - Principal: $740,000
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 12.0%
  - Maturity: April 1, 2025
  - Event: incurrence
  source text: We borrowed an additional aggregate amount of $740,000 in four separate draws under the Note from March 7, 2025 through March 14, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315225010888/0001493152-25-010888-index.htm

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