{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-018053","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2026-04-20T23:59:59+00:00","discovered_at":"2026-05-14T18:02:33.059116+00:00","generated_at":"2026-05-15T05:21:48.421752+00:00","sec_items":["2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"VIP Play reports $24.5M outstanding under convertible note; additional draws of $1.2M since Feb 2026","bullets":["Outstanding principal on convertible note with Excel Family Partners reached $24.5M as of April 20, 2026, up from $12.1M at inception.","Company borrowed an additional $1,214,313 in seven draws between Feb 20 and Apr 17, 2026.","Note bears 12% fixed interest, payable on demand; Excel can convert debt into shares at 80% of lowest recent price (floor $0.50).","Note is uncommitted; Excel controls all advances; prepayment allowed with notice and accrued interest."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-018053","json":"https://secwatch.observer/filing/0001493152-26-018053.json","markdown":"https://secwatch.observer/filing/0001493152-26-018053.md","text":"https://secwatch.observer/filing/0001493152-26-018053.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315226018053/0001493152-26-018053-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315226018053/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T05:21:48.421752+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":"5f770056003c605e25be63c6dc3b709f3ee7ddcc","claim":"VIP Play, Inc. incurred convertible notes of $1,214,313 with Excel Family Partners, LLLP at 12.0% maturing upon demand.","evidence_excerpt":"We borrowed an additional aggregate amount of $1,214,313 in seven separate draws under the Note from February 20, 2026 through April 17, 2026.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1832161/000149315226018053/0001493152-26-018053-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$1,214,313"},{"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"}