VIP Play, Inc. (VIPZ): debt financing — VIP Play borrows additional $810K under convertible note with related party; total $19.7M

VIP Play, Inc.

Borrowed $810,378 in three draws from Oct 10-24, 2025 under existing convertible note with Excel Family Partners.
Aggregate outstanding principal as of Oct 24, 2025 is $19,657,043.
Note bears 12% fixed annual interest, due on demand, and convertible at 80% of lowest prior 12-month share price (floor $0.50).
Excel is controlled by Bruce Cassidy, the company's Secretary and sole board member (related-party transaction).

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

VIP Play, Inc. incurred convertible notes of $810,378 in three separate draws with Excel Family Partners, LLLP at 12.0% maturing upon demand.

Instrument: convertible notes
Principal: $810,378 in three separate draws
Counterparty: Excel Family Partners, LLLP
Rate: 12.0%
Maturity: upon demand
Event: incurrence

Exact text from the filing

We borrowed an additional aggregate amount of $810,378 in three separate draws under the Note from October 10, 2025 through October 24, 2025.

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VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-019239

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