VIP Play, Inc.: amends convertible notes, extends maturities

What happened VIP Play, Inc. reported that on Oct 1, 2026 it entered into separate Third Amendments to Convertible Note Purchase Agreements with Rick Hackel and The Access Fund I, LP. Each Third Amendment is dated Sep 14, 2026 and effective Sep 1, 2026 and amends the Purchase Agreements originally dated Aug 23, 2023 and Sep 1, 2023. The filing states the Notes accrue interest at twelve percent (12%) per annum and, unless converted into shares of our common stock in accordance with the applicable Purchase Agreement, the outstanding principal of each Note, together with all accrued and unpaid interest, is due and payable in a single balloon payment on its amended maturity date.

Key details

• Hackel Notes: principal amounts of $200,000 (Aug 23, 2023) and $100,000 (Sep 9, 2025), totaling $300,000; Access Note: principal amount of $150,000 (Sep 1, 2023).
• Maturity dates extended: Hackel Notes to Feb 28, 2027; Access Note to Aug 31, 2027.
• The Third Amendments amend and restate Section 10.9 to allow amendments and waivers with the consent of the company and the applicable noteholder only, delete Section 10.10, and replace purchaser schedules to reflect only the outstanding Notes.
• The loan from Dennis Colletti has been repaid; all other terms, including the 12% annual interest rate and existing conversion provisions, remain in effect.

Why it may matter This report contains Item 1.01 (entry into a material definitive agreement) and Item 2.03 (creation of a direct financial obligation), which cover the Third Amendments to the Purchase Agreements and the amended maturities and terms of the convertible notes. This filing does not show why the insider traded or why the company acted.