VIPZ — what changed in the latest 10-K
A section-by-section comparison of VIPZ's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-K · 2026-09-29 vs the prior 10-K · 2025-09-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +23 | −36 | 0 | 0 |
| Risk factors | Text added/removed | +61 | −113 | 0 | 1 |
| MD&A | Text added/removed | +35 | −34 | 0 | 1 |
| Market risk (Item 7A) | No paragraph-level changes | 0 | 0 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2026-09-29
VIP Play, Inc. (“VIP Play,” the “Company,” “we,” “our,” or “us”) is a Nevada corporation incorporated on April 16, 2020. During the fiscal year ended June 30, 2026, the Company completed a strategic transition from operating an online sportsbook business to focusing on the development of proprietary…
Until April 2026, the Company operated an online mobile sportsbook in the State of Tennessee under a Tennessee Sports Gaming Operator license. On April 6, 2026, management approved a plan to discontinue the sportsbook business as part of a broader strategic realignment. Customer wagering operations …
Following the exit from the sportsbook business, the Company redirected its resources toward the development of artificial intelligence technologies and software applications. The Company’s current activities are focused on developing proprietary AI platforms, software solutions, and related intelle…
The Company continues to develop internally created software and related technologies intended to support future commercial applications. As an early-stage technology company, the Company is focused on expanding its intellectual property portfolio, enhancing its software capabilities, and evaluating…
Our principal executive offices are located at 8400 W. Sunset Road, Suite 300, Las Vegas, Nevada 89113. Our website address is www.viplayinc.com. Information contained on our website is not incorporated by reference into this Annual Report.
Text removed vs the prior filing · source: 10-K · 2025-09-29
As used in this Annual Report and unless otherwise indicated, the terms the “Company,” “we”, “us” and “our” mean VIP Play, Inc., a Nevada corporation formed on April 16, 2020.
We are a next-generation mobile sports wagering company focused on delivering secure, innovative, and engaging digital gaming experiences. We operate a proprietary, cloud-native technology platform currently live in Tennessee, where we are licensed to offer mobile sports betting. In West Virginia, w…
Our product offering includes a modern sportsbook with differentiated wager types, sweepstakes contests, and socially integrated features designed to enhance player engagement. We are committed to responsible gaming and operate in full compliance with applicable regulatory frameworks in each jurisdi…
At the core of our innovation strategy is an AI-driven product roadmap, built to support real-time personalization, risk management, and decision automation. Our platform’s data-centric architecture allows us to drive operational efficiency and player satisfaction while maintaining high standards fo…
We believe that data velocity—the speed at which insights can be derived and acted upon—represents the future of real-time intelligence in online gaming. Through this lens, we continue to invest in machine learning and advanced analytics to fuel product innovation and elevate the player experience.
Risk factors
Text added vs the prior filing · source: 10-K · 2026-09-29
We have incurred recurring losses from operations, have an accumulated deficit, and there is substantial doubt regarding our ability to continue as a going concern.
We have incurred recurring operating losses since inception and have generated negative cash flows from operations. As of June 30, 2026, we had an accumulated deficit of $72.6 million and limited liquidity. Our independent registered public accounting firm has included an explanatory paragraph regar…
Our ability to continue operations depends upon our ability to obtain additional financing, successfully execute our business strategy, and ultimately generate sufficient cash flows from operations. There can be no assurance that we will be successful in accomplishing these objectives. If we are una…
Our substantial indebtedness to a related party is payable on demand, and a demand for repayment could materially adversely affect our liquidity and ability to continue operations.
As of June 30, 2026, we had approximately $29.8 million of principal outstanding under discretionary line of credit facilities with Excel Family Partners, LLLP, an entity controlled by Bruce Cassidy, our Chairman and majority shareholder, together with approximately $4.8 million of accrued interest.…
Text removed vs the prior filing · source: 10-K · 2025-09-29
Because we have a limited operating history, you may not be able to accurately evaluate our operations.
We have a limited operating history upon which an evaluation of our business plan or performance and prospects can be made. The business and prospects of VIP Play, Inc. must be considered in the light of the potential problems, delays, uncertainties and complications encountered in connection with a…
Our investors may lose their entire investment because our financial status creates a doubt whether we will continue as a going concern.
We have a limited operating history and have incurred recurring losses from operations. For the fiscal years ended June 30, 2025 and 2024, we incurred a net loss of $18,881,931 and $30,385,693, respectively. We do not have a history of generating revenues and only recently began to generate any reve…
We are dependent on outside financing for continuation of our operations.
MD&A
Text added vs the prior filing · source: 10-K · 2026-09-29
During the fiscal year ended June 30, 2026, the Company completed a significant strategic transformation. In April 2026, management approved a plan to discontinue the Company’s Tennessee online sportsbook operations and redirect its resources toward the development of proprietary artificial intellig…
The Company’s current operations consist principally of software development activities, corporate administration, financing activities, and the continued development of proprietary AI technologies. As of June 30, 2026, and through the date of this Annual Report, the Company’s AI and software techno…
Gaming revenue was approximately $184 thousand for the year ended June 30, 2026, compared to negative gaming revenue of approximately $86 thousand for the year ended June 30, 2025. Gaming revenue reflects the Company’s historical online sportsbook operations in Tennessee, which ceased accepting cust…
Cost of gaming revenue was approximately $1.2 million for the year ended June 30, 2026, compared to approximately $510 thousand for the year ended June 30, 2025. The increase primarily reflects gaming platform costs, including fees paid to Kambi as the betting service provider for the VIP Play appli…
The Company ceased its sportsbook operations during fiscal 2026 and does not expect to generate gaming revenue from these operations in future periods. The cessation of the Company’s sportsbook operations did not meet the criteria for presentation as discontinued operations under ASC 205-20; accordi…
Text removed vs the prior filing · source: 10-K · 2025-09-29
Fiscal Year Ended June 30, 2025, Compared to Fiscal Year Ended June 30, 2024
Negative gaming revenues for the years ended June 30, 2025, and 2024 were $(86,473) and $(2,299,532), respectively. Costs of gaming revenues for the years ended June 30, 2025, and 2024 were $509,585 and $1,320,380, respectively. The decrease in gross gaming loss and negative gross margin for the yea…
The $105,265 increase is primarily due to increased headcount as a result of increased sports betting activity.
The $323,454 decrease was primarily due to a decrease in legal fees and filing fees of approximately $483,000 during the year ended June 30, 2025 as compared to the year ended June 30, 2024 primarily due to elevated legal and filing fees in the year ending June 30, 2024 related to the ZenSports acqu…
The $792,803 decrease is principally due to sunsetting our former ZenSports app in December 2024 and writing down the assets related to it.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice