{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-019239","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2025-10-24T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.695390+00:00","generated_at":"2026-05-17T02:21:46.339066+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"VIP Play borrows additional $810K under convertible note with related party; total $19.7M","bullets":["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)."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-019239","json":"https://secwatch.observer/filing/0001493152-25-019239.json","markdown":"https://secwatch.observer/filing/0001493152-25-019239.md","text":"https://secwatch.observer/filing/0001493152-25-019239.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225019239/0001493152-25-019239-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225019239/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T02:21:46.339066+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":"8ea51d5c303149c1273e3297e4fc0b450cb86c3c","claim":"VIP Play, Inc. incurred convertible notes of $810,378 in three separate draws with Excel Family Partners, LLLP at 12.0% maturing upon demand.","evidence_excerpt":"We borrowed an additional aggregate amount of $810,378 in three separate draws under the Note from October 10, 2025 through October 24, 2025.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1832161/000149315225019239/0001493152-25-019239-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$810,378 in three separate draws"},{"label":"Counterparty","value":"Excel Family Partners, LLLP"},{"label":"Rate","value":"12.0%"},{"label":"Maturity","value":"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"}