VIP Play, Inc. Discloses Financial Obligation

TL;DR

VIP Play, Inc. just filed an 8-K about a new financial obligation. Details TBD.

AI Summary

On October 1, 2025, VIP Play, Inc. reported a direct financial obligation or an obligation under an off-balance sheet arrangement. The filing does not specify the nature or amount of this obligation, but it is a material event requiring disclosure under SEC regulations.

Why It Matters

This filing indicates a new financial commitment or liability for VIP Play, Inc., which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — The disclosure of a financial obligation without further details introduces uncertainty about the company's financial standing.

Key Players & Entities

• VIP Play, Inc. (company) — Registrant
• October 1, 2025 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• 866-783-9435 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $14,000,000 — n the principal amount of not more than $14,000,000 (the " Note "). Excel is controlled by
• $12,097,000 — f the date we entered into the Note was $12,097,000. We borrowed an additional aggregate am
• $926,000 — rowed an additional aggregate amount of $926,000 in three separate draws under the Note
• $18,846,665 — balance of all loans under the Note is $18,846,665. 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) — 37KB
• 0001493152-25-016796.txt ( ) — 197KB
• vipz-20251001.xsd (EX-101.SCH) — 3KB
• vipz-20251001_lab.xml (EX-101.LAB) — 33KB
• vipz-20251001_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

03 Creation

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. In a Current Report on Form 8-K filed on April 2, 2025, VIP Play, Inc., a Nevada corporation (the " Company, " " we " or " our ") disclosed that on March 31, 2025 the Company entered into a First Amended and Restated Discretionary Convertible Revolving Line Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (" Excel ") in the principal amount of not more than $14,000,000 (the " Note "). Excel is controlled by Mr. Bruce Cassidy, our Secretary and sole member of our board of directors. The Note does not constitute a committed line of credit. Loans under the Note are made by Excel in its sole and absolute discretion. Upon repayment of any amount of principal or interest under the Note, we may not reborrow under the Note. The aggregate outstanding principal balance of all loans under the Note as of the date we entered into the Note was $12,097,000. We borrowed an additional aggregate amount of $926,000 in three separate draws under the Note from September 19, 2025 through October 1, 2025. As of October 3, 2025, the aggregate outstanding principal balance of all loans under the Note is $18,846,665. All loans made under the Note accrue interest at a fixed rate per annum equal to 12.0% (the " Fixed Rate "). The outstanding principal and accrued and unpaid interest under the Note are due and payable upon demand. We have the right to prepay the Note, in whole or in part, at any time; provided, however, we must: (i) provide Excel prior written notice of our intention to make such prepayment; and (ii) pay to Excel all interest accrued on the outstanding principal balance of the Note to the date of such prepayment. If we: (i) fail to comply with any provision under the Note, including, but not limited to, failing to immediately pay all amounts due to Excel after demand thereof is made; or (ii) b

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: October 3, 2025 VIP PLAY, INC. By: /s/ Les Ottolenghi Les Ottolenghi, CEO

View Full Filing

View this 8-K filing on SEC EDGAR