---
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"
generated_at: "2026-05-15T05:21:48.421752+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# VIP Play reports $24.5M outstanding under convertible note; additional draws of $1.2M since Feb 2026

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-018053
- JSON: https://secwatch.observer/filing/0001493152-26-018053.json
- Plain text: https://secwatch.observer/filing/0001493152-26-018053.txt

## Key facts
- Debt Financings
  VIP Play, Inc. incurred convertible notes of $1,214,313 with Excel Family Partners, LLLP at 12.0% maturing upon demand.
  - Instrument: convertible notes
  - Principal: $1,214,313
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 12.0%
  - Maturity: upon demand
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1832161/000149315226018053/0001493152-26-018053-index.htm

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