VIP Play draws additional $515K under convertible note; total principal $15.7M

VIP Play, Inc.

Aggregate outstanding principal under note is $15,676,000 as of July 3, 2025, up $515,000 from two draws in late June/early July.
Note accrues interest at 12% fixed per annum; principal and accrued interest due on demand.
Excel Family Partners (related party controlled by director/secretary Bruce Cassidy) may convert debt to common stock at 80% of lowest recent price (floor $0.50/share).
Outstanding principal exceeds the note's stated maximum of $14,000,000, indicating potential amendment or waiver.

item 2.03item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.