VIP Play borrows additional $630K under related-party convertible note; total $17.9M

VIP Play, Inc.

Borrowed $630,000 in three draws from Aug 27 to Sep 10, 2025 under demand note with Excel Family Partners.
Total outstanding principal balance now $17,920,665 as of Sep 12, 2025.
Note has 12% fixed interest, due on demand, convertible at 80% of lowest recent stock price.
Excel is controlled by Bruce Cassidy, Company's Secretary and sole board member.
No reborrowing after repayment; default interest rate rises to 14%.

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