---
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"
generated_at: "2026-05-17T06:39:50.515147+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-013296
- JSON: https://secwatch.observer/filing/0001493152-25-013296.json
- Plain text: https://secwatch.observer/filing/0001493152-25-013296.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: $630,000 in three separate draws
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 12.0%
  - Maturity: due and payable upon demand
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315225013296/0001493152-25-013296-index.htm

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