- VIP Play, Inc. (VIPZ) executed Second Amendments to Convertible Note Purchase Agreements with Dennis Colletti, The Access Fund I, LP, and Rick Hackel, effective in late August and early September 2025.  **[1832161_0001493152-25-013204_ex10-2.htm:0]** **[1832161_0001493152-25-013204_ex10-1.htm:0]** **[1832161_0001493152-25-013204_ex10-3.htm:0]** **[1832161_0001493152-25-013204_form8-k.htm:2]** 
- These amendments extended the maturity dates of the convertible notes, with the Colletti Note now due on **October 1, 2025**, and the Hackel and Access Notes due on **August 31, 2026**.  **[1832161_0001493152-25-013204_ex10-2.htm:0]** **[1832161_0001493152-25-013204_ex10-1.htm:0]** **[1832161_0001493152-25-013204_ex10-3.htm:0]** **[1832161_0001493152-25-013204_form8-k.htm:2]** 
- The "Conversion Price" for these notes was redefined as the lower of **$0.60** or **80% of the lowest price per share** of common stock sold by the company in the twelve months prior to the Maturity Date.  **[1832161_0001493152-25-013204_ex10-2.htm:0]** **[1832161_0001493152-25-013204_ex10-1.htm:0]** **[1832161_0001493152-25-013204_ex10-3.htm:0]** **[1832161_0001493152-25-013204_form8-k.htm:2]** 
- Additionally, Rick Hackel provided an **additional loan of up to $100,000** to VIP Play, Inc., secured by a second convertible promissory note maturing on **August 31, 2026**.  **[1832161_0001493152-25-013204_ex10-1.htm:1]** **[1832161_0001493152-25-013204_ex10-2.htm:1]** **[1832161_0001493152-25-013204_form8-k.htm:2]**

VIP Play, Inc. Amends Convertible Note Agreements and Secures Additional Loan

- VIP Play, Inc. entered into a **First Amended and Restated Discretionary Convertible Revolving Line Of Credit Demand Note** with **Excel Family Partners, LLLP** on **March 31, 2025**, for a principal amount not exceeding **$14,000,000**.  **[1832161_0001641172-25-025623_form8-k.htm:1]**  Excel Family Partners, LLLP is controlled by Mr. Bruce Cassidy, the company's Secretary and sole board member.  **[1832161_0001641172-25-025623_form8-k.htm:1]** 
- The Note is **not a committed line of credit**, and loans are made at Excel's sole discretion.  **[1832161_0001641172-25-025623_form8-k.htm:1]** 
- As of the Note's inception on **March 31, 2025**, the outstanding principal balance was **$12,097,000**.  **[1832161_0001641172-25-025623_form8-k.htm:1]** 
- The company borrowed an additional **$824,665** in four separate draws between **August 1, 2025, and August 20, 2025**.  **[1832161_0001641172-25-025623_form8-k.htm:1]** 
- As of **August 25, 2025**, the aggregate outstanding principal balance under the Note is **$17,290,665**.  **[1832161_0001641172-25-025623_form8-k.htm:1]**  The Note accrues interest at a **fixed rate of 12.0% per annum** and is **due and payable upon demand**.  **[1832161_0001641172-25-025623_form8-k.htm:1]**  Excel also has the option to convert the debt into common stock.  **[1832161_0001641172-25-025623_form8-k.htm:1]**

VIP Play (VIPZ)