$VIPZ

VIP Play, Inc.

CIK:0001832161|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Defined Benefit Plan Disclosure [Line Items]
Gaming revenues	$ 184	$ (86)
Cost of gaming revenue	1,225	510
Net gaming loss	(1,041)	(596)
Operating expenses:
Employee and contractor compensation	5,197	4,463
General and administrative	3,791	2,579
Depreciation and amortization	458	993
Asset impairment	831	5,909
Sales and marketing	590	1,139
Total operating expenses	10,867	15,083
Operating Loss	(11,908)	(15,679)
Other income (expense):
Other income	5
Gain on change in fair value of derivative	5,727	47
Total other income (expense)	2,392	(3,480)
Loss before income taxes	(9,516)	(19,159)
Income tax expense (benefit)
Net loss	$ (9,516)	$ (19,159)
Net loss per common share - basic	$ (0.13)	$ (0.26)
Net loss per common share - diluted	$ (0.13)	$ (0.26)
Weighted average number of common shares outstanding - basic	73,457,857	72,621,380
Weighted average number of common shares outstanding - diluted	73,457,857	72,621,380
Nonrelated Party [Member]
Other income (expense):
Interest expense	$ (173)	$ (483)
Related Party [Member]
Other income (expense):
Interest expense	$ (3,167)	$ (3,044)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (9,516)	$ (19,159)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	458	993
Amortization of debt issuance costs – related party		1,330
Issuance of warrants for consulting services	47
Issuance of common stock for consulting services		325
Asset Impairment	831	5,909
Stock-based compensation	553	215
Amortization of debt discount	63	277
Change in fair value of derivative liability	(5,727)	(47)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	2,045	(1,266)
Related party receivables	(858)
Accounts payable and accrued expenses	184	(337)
Accrued expenses - related party	3,363	1,307
Players balances	(336)	23
Net cash used in operating activities	(8,893)	(10,430)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for capitalized software	(406)	(1,023)
Net cash used in investing activities	(406)	(1,023)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock		500
Proceeds from line of credit, related party	10,245	11,916
Proceeds from convertible notes	100
Repayments of convertible note	(500)
Repayments of note payable - current	(858)	(973)
Net cash provided by financing activities	8,987	11,443
NET CHANGE IN CASH AND CASH RESERVED FOR USERS	(312)	(10)
CASH AND CASH RESERVED FOR USERS AT BEGINNING OF PERIOD	440	450
CASH AND CASH RESERVED FOR USERS AT END OF PERIOD	128	440
DISCLOSURE OF CASH AND CASH RESERVED FOR USERS:
CASH	128	163
CASH RESERVED FOR USERS		277
SUPPLEMENTAL INFORMATION:
Interest paid	92	599
Income taxes paid
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:
Derivative liability associated with convertible note issuance	54
Common stock and warrants issued for offering costs		148
Insurance financing	174	349
Note receivable received in common-control transaction	1,383
Related-party receivable settled in common-control transaction	644
Additional Paid-In Capital recognized in association with common control transaction	$ 739