VIP Play, Inc. has entered into separate Third Amendments to its Convertible Note Purchase Agreements with Rick Hackel and The Access Fund I, LP. The agreements, dated September 14, 2026, and effective as of September 1, 2026, modify the terms of promissory notes issued in 2023 and 2025.
The amendments extend the maturity dates for the outstanding debt. The maturity date for the notes held by Rick Hackel has been extended from August 31, 2026, to February 28, 2027. The maturity date for the note held by The Access Fund I, LP has been extended to August 31, 2027.
The notes, which originally totaled $450,000 in principal, continue to accrue interest at a rate of twelve percent (12%) per annum. Unless converted into shares of common stock, the outstanding principal and accrued interest are due as a single balloon payment on the respective amended maturity dates.
The Third Amendments also update the schedules of purchasers to reflect the outstanding principal balances as of September 14, 2026, which total $300,000 for Hackel and $150,000 for Access. Additionally, the amendments modify Section 10.9 of the Purchase Agreements to allow for amendments and waivers to be made with the written consent of the Company and the specific noteholder, without requiring approval from other noteholders. The amendments also delete Section 10.10 of the Purchase Agreements.
Separately, the company reported that the loan from Dennis Colletti has been repaid. All other terms and conditions of the original Purchase Agreements remain in effect.
