{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-013296","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2025-09-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.214117+00:00","generated_at":"2026-05-17T06:39:50.515147+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"VIP Play borrows additional $630K under related-party convertible note; total $17.9M","bullets":["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%."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-013296","json":"https://secwatch.observer/filing/0001493152-25-013296.json","markdown":"https://secwatch.observer/filing/0001493152-25-013296.md","text":"https://secwatch.observer/filing/0001493152-25-013296.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225013296/0001493152-25-013296-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225013296/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T06:39:50.515147+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":[{"claim_id":"54a43951078dd93731c42e2b64e4c336d094c88b","claim":"VIP Play, Inc. incurred revolving credit of $630,000 in three separate draws with Excel Family Partners, LLLP at 12.0% maturing due and payable upon demand.","evidence_excerpt":"We borrowed an additional aggregate amount of $630,000 in three separate draws under the Note from August 27, 2025 through September 10, 2025.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225013296/0001493152-25-013296-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$630,000 in three separate draws"},{"label":"Counterparty","value":"Excel Family Partners, LLLP"},{"label":"Rate","value":"12.0%"},{"label":"Maturity","value":"due and payable upon demand"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}