---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-025923"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2025-12-03T23:59:59+00:00"
generated_at: "2026-05-16T15:25:27.019925+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# VIP Play draws additional $1M under convertible note; total outstanding $20.7M as of Dec 3, 2025

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-25-025923
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2025-12-03T23:59:59+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/1832161/000149315225025923/0001493152-25-025923-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000149315225025923/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-025923
- JSON: https://secwatch.observer/filing/0001493152-25-025923.json
- Plain text: https://secwatch.observer/filing/0001493152-25-025923.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315225025923/0001493152-25-025923-index.htm

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