secwatch.observer — SEC 8-K summary
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Issuer:     VIP Play, Inc. (VIPZ)
CIK:        0001832161
Form:       8-K/A
Filed at:   2026-05-12T15:43:16+00:00
Accession:  0001493152-26-022432
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 5.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

VIP Play amends note disclosure; outstanding principal reaches $23.3M as of Feb 2026
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- Aggregate outstanding principal of convertible note with Excel Family Partners is $23,286,313 as of Feb 19, 2026.
- Additional draws of $1.5M taken from Jan 9 to Feb 13, 2026 under the Note.
- Note carries 12% fixed interest, due on demand, and convertible at 80% of lowest recent price in prior 12 months (floor $0.50).
- Board approved options for 3.7M shares (1.5M to VP Dermody) but formal grant not yet executed; disclosure removed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1832161/000149315226022432/0001493152-26-022432-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1832161/000149315226022432/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-022432

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