secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K
Filed at:   2025-10-24T23:59:59+00:00
Accession:  0001493152-25-019239
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VIP Play borrows additional $810K under convertible note with related party; total $19.7M
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315225019239/0001493152-25-019239-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315225019239/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-019239

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer