---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-025623"
form_type: "8-K"
ticker: "VIPZ"
cik: "0001832161"
company_name: "VIP Play, Inc."
filed_at: "2025-08-27T23:59:59+00:00"
generated_at: "2026-05-17T09:46:31.300187+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001641172-25-025623
- form_type: 8-K
- ticker: VIPZ
- cik: 0001832161
- company_name: VIP Play, Inc.
- filed_at: 2025-08-27T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832161/000164117225025623/0001641172-25-025623-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832161/000164117225025623/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-025623
- JSON: https://secwatch.observer/filing/0001641172-25-025623.json
- Plain text: https://secwatch.observer/filing/0001641172-25-025623.txt

## Key facts
- Debt Financings
  VIP Play, Inc. incurred convertible notes of $824,665 with Excel Family Partners, LLLP at 12.0% maturing upon demand.
  - Instrument: convertible notes
  - Principal: $824,665
  - Counterparty: Excel Family Partners, LLLP
  - Rate: 12.0%
  - Maturity: upon demand
  - Event: incurrence
  source text: We borrowed an additional aggregate amount of $824,665 in four separate draws under the Note from August 1, 2025 through August 20, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832161/000164117225025623/0001641172-25-025623-index.htm

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