VIP Play borrows additional $824,665 under convertible note from related party; total outstanding $17.3M

VIP Play, Inc.

Borrowed $824,665 in four draws from Aug 1-20, 2025 under discretionary convertible note from Excel Family Partners.
As of Aug 25, 2025, total outstanding principal is $17,290,665, up from $12,097,000 at inception.
Note bears 12% fixed interest; convertible into common stock at 80% of Lowest Recent Price (floor $0.50 per share).
Excel is controlled by Bruce Cassidy, company's Secretary and sole board member (related-party transaction).
Note does not constitute a committed line; borrowings at Excel's sole discretion.

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