{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-029628","form_type":"8-K","ticker":"VIPZ","cik":"0001832161","company_name":"VIP Play, Inc.","filed_at":"2026-06-22T21:19:39+00:00","discovered_at":"2026-06-22T21:20:00.259984+00:00","generated_at":"2026-06-22T21:20:20.183527+00:00","sec_items":["2.03","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"VIP Play borrows additional $1.17M under related-party convertible note; total $25.7M","bullets":["Borrowed $1,170,000 in five draws under convertible note from April 27 to June 17, 2026.","As of June 22, 2026, aggregate outstanding principal is $25,670,626.","Note carries 12% fixed interest; convertible at 80% of the lowest share price in prior 12 months.","Note held by Excel Family Partners, controlled by secretary and sole board member Bruce Cassidy.","Full repayment due on demand; no reborrowing allowed after any repayment."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-029628","json":"https://secwatch.observer/filing/0001493152-26-029628.json","markdown":"https://secwatch.observer/filing/0001493152-26-029628.md","text":"https://secwatch.observer/filing/0001493152-26-029628.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1832161/000149315226029628/0001493152-26-029628-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1832161/000149315226029628/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T21:20:20.183527+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":"c97173b965e841a2d7605afb3a05db67cab266ac","claim":"VIP Play, Inc. incurred convertible notes of $1,170,000 with Excel Family Partners, LLLP at 12.0% maturing due and payable upon demand.","evidence_excerpt":"We borrowed an additional aggregate amount of $1,170,000 in five separate draws under the Note from April 27, 2026 through June 17, 2026.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1832161/000149315226029628/0001493152-26-029628-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$1,170,000"},{"label":"Counterparty","value":"Excel Family Partners, LLLP"},{"label":"Rate","value":"12.0%"},{"label":"Maturity","value":"due and payable 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"}