{"url_path":"/sec/vipz/10-q/2026/item-4","section_key":"item-4","section_title":"Item 4 Controls and Procedures**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1832161/0001493152-26-023219-index.html","accession_number":"0001493152-26-023219","cik":"0001832161","ticker":"VIPZ","issuer_name":"VIP Play, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1832161/0001493152-26-023219-index.html","primary_entity_key":"0001832161","primary_entity_name":"VIP Play, Inc."},"word_count":426,"has_tables":true,"body_markdown":"** **\n\n**Item\n4. Controls and Procedures**\n\n \n\n**Evaluation\nof Effectiveness of Disclosure Controls and Procedures**\n\n \n\nWe\ncarried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange\nAct Rules 13a-15(e) and 15d-15(e)) as of March 31, 2026. This evaluation was carried out under the supervision and with the participation\nof our Chief Executive Officer and Chief Accounting Officer.\n\n \n\nBased\nupon that evaluation, our Chief Executive Officer and Chief Accounting Officer concluded that, as of March 31, 2026, our disclosure controls\nand procedures were not effective due to the previously identified material weakness in internal control over financial reporting.\n\n \n\n**Material\nWeakness in Internal Control over Financial Reporting**\n\n \n\nAs\npreviously disclosed in our Form 10-K for the fiscal year ended June 30, 2025, management identified a material weakness in internal\ncontrol over financial reporting related to:\n\n \n\n \n●\nLimited segregation\nof duties due to the size of the accounting staff;\n\n \n●\nInsufficient review\ncontrols over certain complex accounting estimates; and\n\n \n●\nInsufficient information\ntechnology controls to prevent or detect, on a timely basis, unauthorized access to certain financial reporting systems.\n\n \n\n**Remediation\nEfforts**\n\n \n\nDuring\nthe nine months ended March 31, 2026, management continued remediation efforts to address the identified material weakness. These efforts\nincluded:\n\n \n\n \n●\nEnhancing segregation\nof duties through reassignment of responsibilities and implementation of compensating controls, including independent review and approval\nof key transactions;\n\n \n●\nImplementing formal\nreview controls and documentation requirements over significant and complex accounting areas, including revenue recognition, complex\nfinancing transactions, and income tax accounting; and\n\n \n●\nStrengthening information\ntechnology controls, including user access restrictions, periodic access reviews, and formalized procedures for provisioning and modifying\naccess.\n\n \n\nManagement\nhas designed and implemented these enhanced controls and has performed and continued testing of their operating effectiveness through\nthe quarter ended March 31, 2026. Based on this testing, management believes the controls are designed appropriately and are operating\neffectively and have significantly improved the Company’s internal control over financial reporting. However, the controls have\nnot been in operation for a sufficient period of time to conclude that the material weakness has been fully remediated.\n\n \n\n**Changes\nin Internal Control over Financial Reporting**\n\n \n\nDuring\nthe quarter ended March 31, 2026, there were changes in our internal control over financial reporting that have materially affected,\nor are reasonably likely to materially affect, our internal control over financial reporting. These changes relate to the remediation\nactivities described above, including the implementation of enhanced review controls, compensating controls for segregation of duties,\nand improvements to information technology controls.\n\n \n\n6\n\n \n\n** **\n\n**PART\nII - OTHER INFORMATION**"}