VIP Play, Inc. (VIPZ): debt financing — VIP Play draws additional $1M under convertible note; total outstanding $20.7M as of Dec 3, 2025

VIP Play, Inc.

Aggregate outstanding principal under convertible note with Excel Family Partners reached $20,665,313 as of Dec 3, 2025.
Borrowed total of $1,008,270 in five draws from Oct 31 to Nov 26, 2025.
Note bears 12% fixed interest and is due on demand; Excel may convert debt into common stock at 80% of lowest recent price (floor $0.50).
Excel is controlled by Bruce Cassidy, Company's Secretary and sole board member, making this a related-party transaction.

item 2.03 item 9.01

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 $1,008,270 with Excel Family Partners, LLLP at 12.0% maturing upon demand.

Instrument: convertible notes
Principal: $1,008,270
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 $1,008,270 in five separate draws under the Note from October 31, 2025 through November 26, 2025.

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312 debt financings filed in the last 30 days. Browse all debt financings →

VIP Play, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-25-025923

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