VIP Play, Inc. Reports New Financial Obligation
Ticker: VIPZ · Form: 8-K · Filed: Jan 3, 2025 · CIK: 1832161
| Field | Detail |
|---|---|
| Company | Vip Play, Inc. (VIPZ) |
| Form Type | 8-K |
| Filed Date | Jan 3, 2025 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $5,000,000, $4,410,000, $250,000, $230,000, $8,665,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financial-obligation
TL;DR
VIP Play, Inc. just took on a new debt. Details TBD.
AI Summary
On December 27, 2024, VIP Play, Inc. reported the creation of a direct financial obligation. The filing does not specify the exact nature or amount of this obligation, but it is categorized under Item 2.03 of the 8-K form.
Why It Matters
This filing indicates VIP Play, Inc. has entered into a new financial commitment, which could impact its financial health and future operations.
Risk Assessment
Risk Level: medium — The creation of a new financial obligation, without immediate details on its terms or impact, introduces uncertainty and potential financial risk.
Key Players & Entities
- VIP Play, Inc. (company) — Registrant
- December 27, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 000-56290 (filing_id) — SEC File Number
- 85-0738656 (tax_id) — I.R.S. Employer Identification No.
- 1645 Pine Tree Ln , Suite 2 , Sarasota , Florida 34236 (address) — Address of principal executive offices
- (866) 783-943 (phone_number) — Registrant's telephone number
FAQ
What is the specific nature of the direct financial obligation reported by VIP Play, Inc.?
The filing states the creation of a direct financial obligation but does not provide specific details on its nature.
What is the amount of the financial obligation?
The filing does not disclose the specific dollar amount of the financial obligation.
When was this financial obligation created or entered into?
The earliest event reported related to this obligation was on December 27, 2024.
Under which item of the 8-K form is this obligation reported?
This obligation is reported under Item 2.03, 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.
Does the filing mention any off-balance sheet arrangements related to this obligation?
The filing mentions 'an Obligation under an Off-Balance Sheet Arrangement' as a category, but does not specify if this particular event involves one.
Filing Stats: 1,134 words · 5 min read · ~4 pages · Grade level 11.8 · Accepted 2025-01-03 13:43:51
Key Financial Figures
- $5,000,000 — n the principal amount of not more than $5,000,000 (the " Note "). Excel is controlled by
- $4,410,000 — f the date we entered into the Note was $4,410,000. We borrowed an additional $250,000 and
- $250,000 — s $4,410,000. We borrowed an additional $250,000 and $230,000 under the Note on December
- $230,000 — We borrowed an additional $250,000 and $230,000 under the Note on December 27, 2024 and
- $8,665,000 — balance of all loans under the Note is $8,665,000. All loans made under the Note accrue
- $0.50 — period, the Lowest Recent Price will be $0.50 per Share. In case of a stock split,
Filing Documents
- form8-k.htm (8-K) — 40KB
- 0001493152-25-000206.txt ( ) — 210KB
- vipz-20241227.xsd (EX-101.SCH) — 3KB
- vipz-20241227_lab.xml (EX-101.LAB) — 33KB
- vipz-20241227_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits Exhibit No. Description 10.1 Discretionary Convertible Revolving Line Of Credit Demand Note dated as of August 6, 2024 made by VIP Play, Inc. f/k/a KeyStar Corp. (incorporated by reference to Exhibit 10.2 to VIP Play, Inc. Current Report on Form 8-K filed on August 13, 2024) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 3, 2025 VIP PLAY, INC. By: /s/ James Mackey James Mackey, CFO 3