ZEN offering is now closed and is no longer accepting investments.

Blockchain-powered Video Network

INVEST IN ZEN TODAY!

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
ZEN

REASONS TO INVEST

ABOUT

HEADQUARTERS
26 Westminster Avenue Unit 4
Venice, CA 90291
VALUATION
$10M

TEAM

Kevin Kaliher

Kevin Kaliher

Lead iOS Engineer

Kevin is a journeyman iOS developer. His prior experience includes developing early Facebook games as Zynga’s first employee, and storyboarding for cartoons like Dexter's Lab and The Powerpuff Girls.

Marcelo Guerra

Marcelo Guerra

Chief Marketing Officer

An experienced executive and leader who ran digital marketing at the Showtime and GSN cable networks, where he grew active communities of millions of passionate fans. Marcelo's diverse and successful track record spans tech, advertising, and entertainment.

Kimberly Koenig

Kimberly Koenig

Lead Content Strategist

Kimberly is a technologist and content strategist for leading international software and hardware companies. She brings to the table years of experience with industry giants like Microsoft and is a Co-Chair on the VRARA Blockchain Committee.

Anthony Yedsena

Anthony Yedsena

Product Evangelist/Quality Assurance

Anthony is one Call Of Duty’s original highlights editors, breaking onto the scene at just 11 years old. A top producer today, he has collaborated with top creators and personalities on Twitch, Vine and YouTube for the last 7 years.

Danielle Sabrina

Danielle Sabrina

ICO Advisor

Danielle helped lead the successful Olympus Labs ICO, is a Huffington Post contributor, and a high-profile media and FinTech expert. She has built a diverse client base that includes VC's, software companies, FinTech/payments, professional athletes and celebrities.

Brett Gould

Brett Gould

Advisor

A Silicon Valley native and marketing phenom who spent nearly two decades learning from his mentor Steve Jobs. Brett has multiple successful startup exits, and now consults with clients including pro athletes, media companies and more.

Marty Tate

Marty Tate

Attorney, ICO Specialist

Marty is a nationally recognized securities, finance and fintech attorney. He has been extremely active advising in the blockchain space, token sale industry, and ICOs for Giftz, StartEngine and many others.

Frank E. Banks

Frank E. Banks

CEO & CTO

Frank is a veteran software engineer and technologist with over 20 years of professional programming experience, including a stint as a Lead Systems Engineer at Zynga from 2008 to 2010. He is the core developer at General Presence Inc. and the creator of both ZEN and our previous app Zeme, a successful video editing app for fandom video creators launched in 2014 that has over 250,000 downloads. He has also served as Chairman and sole director since corporate inception in 2011. “Frank is from our crack squad of late night warriors who scaled the popular Mafia Wars game on Facebook from zero to millions of daily players. He is tirelessly curious to study the outcome that his business and users need, and he will walk through fire to deliver it. He grasps the big picture and solves problems across all disciplines...” - Michael Luxton, Co-Founder of Zynga

TERMS

ZEN
Overview
INTEREST RATE
1.0%
MATURITY DATE
Nov 1, 2020
VALUATION CAP
$10M
AMOUNT RAISED
$230,650.00
Breakdown
MIN INVESTMENT
$100.00
DISCOUNT RATE
CONVERSION TRIGGER
OFFERING TYPE
Convertible Notes
TYPE OF EQUITY

Maximum $1,070,000 in Convertible Promissory Note and SAFT's

Minimum $10,000 in Convertible Promissory Note and SAFT's

Company
General Presence Inc. dba ZEN
 

Corporate Address
26 Westminster Avenue Unit 4
Los Angeles (Venice), CA 90291
 

Description of Business
General Presence Inc. is a leading consumer internet company and maker of ZEN, a new type of social media platform that empowers users to build community and earn money through a blockchain-powered marketplace.



Type of Security OfferedConvertible Promissory Notes and SAFT


Minimum Investment Amount (per investor) 

$100












Convertible Note and SAFT | Minimum $100 Investment

Note converts into shares of Preferred Stock when the Company raises $2M in a single preferred equity investment or at an initial token sale.  Investors will also be given the option to convert all of the amounts outstanding under the note into future ZEN native cryptocurrency (ZNX) at a discount instead of equity in an initial token sale.


If you convert into Stock:

Maturity Date: November 1, 2020

$10M valuation cap

1% yearly interest rate

20% Discount to the price of preferred equity

What is a Convertible Note?

A convertible note offers you the right to receive shares in General Presence Inc. The number of shares you will receive in the future will be determined at the next equity round in which General Presence Inc raises at least $2M in a preferred equity financing. The highest conversion price per share is set based on a $10M company valuation cap or if less then you will receive a 20% discount on the price the new investors are purchasing.  You also receive 1% interest per year added to your investment. If the maturity date is reached and the note has not converted then you are entitled to receive your investment plus accrued interest back from the Company.  

Alternatively, you may elect to convert all the outstanding amounts due under the Note into the right to receive ZEN native cryptocurrency (ZNX), utility tokens which shall be developed by General Presence Inc.  In such case, the outstanding amounts will be converted at the purchase price offered in the initial token sale discounted according to the rates below.  The Company is developing a distributed ledger based business model and the ZEN utility token; provided however, such ecosystem and utility token do not presently exist.  Investors who have elected to receive the right to future tokens at the time of an equity financing will receive ZEN native cryptocurrency upon the network launch and initial token offering.


If you convert into ZEN native cryptocurrency:

The outstanding amounts due under the Note may convert upon a network launch (of coins) and initial token sale. 

If you invest you will receive tokens at the purchase price of the initial token offering multiplied by the following: (1 minus the discount below).

  • $5,000+: 50%
  • $2,500 - $4,999: 40%
  • $1,000 - $2,499: 35%
  • $500 - $999: 30%
  • $100 - $499: 20%

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.

PRESS

Article Image
Here's How One Company Is Overcoming The Crypto Ad Crackdown

ZEN is an app that lets teens share short videos and chat with their peers, but the twist is that is a new type of social media business that aims to empower users by not only enabling them to build community but simultaneously earn digital money via the company’s new ZENCoin cryptocurrency.

Article Image
How ZEN Hopes to Attract Teen Content Creators with Cryptocurrency

Frank Erik Banks takes tech innovation seriously.

Article Image
Over 40,000 Content Creators Turn to ZEN and Blockchain to Take Back Control

ZEN is disrupting viral video on the blockchain, tapping into passionate fandoms while empowering and protecting teen content creators.










ALL UPDATES

07.25.18

Only a Few Hours Left

The ZEN Campaign is Closing Strong!

With mere hours left, the campaign has spiked to almost $15K raised in just the past 7 days and is within single digits of 600 total investors

We want to thank all of you who have invested so far, and if you haven't yet this is your last chance to do so and join all of us in helping build a new type of social media business.  Don't miss your opportunity- invest before the campaign ends at midnight Pacific time tonight July 25th!

As always, we encourage you to join our open discussion Telegram group to stay up to date with the ZEN project during and after the pre-ICO campaign.

Thanks from Team ZEN!
https://www.startengine.com/zen

07.24.18

HODL Daily Podcast & Closing in on 24 Hours Left!

ZEN on the HODL Daily Podcast

Just published!  Check out this great interview with ZEN Founder & CEO Frank Erik Banks on the HODL Daily podcast where they discuss the core concepts and vision behind ZEN.

https://podcast.hodldaily.com/1fde1176


Only 1 Day Left to Invest

The folks at StartEngine have informed us that the campaign will actually end at midnight Pacific time tomorrow, July 25th.  That means there are a little more than 24 hours left for you to join almost 600 investors who have put in nearly $10K in just the past few days, and put us within spitting distance of a cool $225K total!  Remember this is the best deal we'll ever offer retail investors so please join us by investing today.


As always, we encourage you to join our open discussion Telegram group to stay up to date with the ZEN project during and after the pre-ICO campaign.

Thanks from Team ZEN!
https://www.startengine.com/zen

07.23.18

Less Than 48 Hours to Go

Less Than 48 Hours Left to Invest!

We're closing in on less than two days left in the ZEN pre-ICO campaign on StartEngine, which ends tomorrow July 24th.  We've raised over $220K and we're approaching nearly 600 investors in the campaign.

The window is closing fast to make or increase your investment so please act now!

As always, we encourage you to join our open discussion Telegram group to stay up to date with the ZEN project during and after the pre-ICO campaign.

Thanks from Team ZEN!
https://www.startengine.com/zen

07.19.18

ZEN for iOS 1.8 Released + Only 6 Days Left!

ZEN for iOS 1.8 Released

We're super excited to announce that after much hard work ZEN for iOS 1.8 is now available in the App Store.  This version is the first phase in a major redesign of the entire app- and introduces a completely new beautiful timeline featuring horizontal swiping and support for fullscreen video.

We've been previewing the new timeline with a few of our users and they love it.  See for yourself via this gif and the demo video below!


Only 6 Days Left to Invest!

There are only a few days left to participate in the ZEN pre-ICO!  This is your last chance to invest or increase your investment and receive the best deal we will offer retail investors, including discounts of up to 50% off our ZNX native cryptocurrency.

The campaign ends on July 24th so now is the time to join over 500 investors who have helped us raise over $200K to build the future of decentralized social video.


ZEN in the News

In just the past couple of weeks, ZEN has been featured in The Network Journal and our founder & CEO Frank Erik Banks put in a lively interview with the folks over at the always current AllHipHop.com.  More to come!

Join us on Telegram

As always we want to encourage EVERYONE to join our open discussion group on Telegram where you can connect with fellow investors and chat anytime with the ZEN team.

Join Telegram Discussion
 

 

Thanks to you all!

07.04.18

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, ZEN has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in ZEN be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

06.29.18

Time is Running Out to Invest in the ZEN Campaign!

ZEN Campaign Closes in Less Than 1 Month!

The team is working hard on the new version of ZEN for iOS which will be out soon and drive renewed interest among our users. We are excited to share this with you and will send an update as soon as it is in the App Store.

We are entering the final month of our crowdfunding campaign. Following its completion, we are going to be moving into the next phase of fundraising, focused on the accredited investors and institutions we have been in discussions with that can help ZEN scale to where it needs to be to deliver on our vision of empowering gen Z content creators and making them crypto stakeholders.

The window is closing to get in at the best pricing with the biggest discounts we’re going to offer regular investors - up to 50%!  If you've already invested now is the time to increase your contribution to reach for that next discount tier.  If you've been considering investing but have yet to do so NOW is the time to join our existing community of 500+ investors!


Talk to Us on Telegram

The best way to get in touch with us and stay up to date with everything ZEN is to join our Telegram open discussion group now!


Thanks!

Team ZEN

06.19.18

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, ZEN has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in ZEN be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

06.15.18

Important Legal Update

Hey Everyone,

Due to a trademark claim from a third party, we are immediately discontinuing the use of the term "ZENCoin" to describe the ZEN native cryptocurrency.  We are in the process of choosing a new name and will keep you updated.


Team ZEN

05.30.18

Notice of Funds Disbursement

[The following is an automated notice from the StartEngine team].

Hello!

As you might know, ZEN has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in ZEN be on the lookout for an email that describes more about the disbursement process.


This campaign will continue to accept investments until its indicated closing date.


Thanks for funding the future.

-StartEngine

05.25.18

Amending our Securities Offering

Hello! Recently, a change was made to the ZEN offering. Here's an excerpt describing the specifics of that change:


ZEN has extended their offering and made updates to their campaign page in regards to future projections.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.










JOIN THE DISCUSSION













0/2500

HOW INVESTING WORKS

Cancel anytime before 48 hours before a rolling close or the offering end date.

WHY STARTENGINE?

REWARDSWe want you to succeed and get the most out of your money by offering rewards and memberships!
SECUREYour info is your info. We take pride in keeping it that way!
DIVERSE INVESTMENTSInvest in over 200 start-ups and collectibles!

With Regulation A+, a non-accredited investor can only invest a maximum of 10% of their annual income or 10% of their net worth per year, whichever is greater. There are no restrictions for accredited investors.

With Regulation Crowdfunding, non-accredited investors with an annual income or net worth less than $124,000, are limited to invest a maximum of 5% of the greater of those two amounts. For those with an annual income and net worth greater than $124,000, he/she is limited to investing 10% of the greater of the two amounts.

At the close of an offering, all investors whose funds have “cleared” by this time will be included in the disbursement. At this time, each investor will receive an email from StartEngine with their Countersigned Subscription Agreement, which will serve as their proof of purchase moving forward.

Please keep in mind that a company can conduct a series of “closes” or withdrawals of funds throughout the duration of the campaign. If you are included in that withdrawal period, you will be emailed your countersigned subscription agreement and proof of purchase immediately following that withdrawal.

StartEngine assists companies in raising capital, and once the offering is closed, we are no longer involved with whether the company chooses to list shares on a secondary market, or what occurs thereafter. Therefore, StartEngine has no control or insight into your investment after the close of the live offering. In addition, we are not permitted to provide financial advice. You may want to contact a financial professional to discuss possible investment outcomes.

For Regulation Crowdfunding, investors are able to cancel their investment at any point throughout the campaign up until 48 hours before the closing of the offering. Note: If the company does a rolling close, they will post an update to their current investors, giving them the opportunity to cancel during this timeframe. If you do not cancel within this 5-day timeframe, your funds will be invested in the company, and you will no longer be able to cancel the investment. If your funds show as ‘Invested’ on your account dashboard, your investment can no longer be canceled.

For Regulation A+, StartEngine allows for a four-hour cancelation period. Once the four-hour window has passed, it is up to each company to set their own cancelation policy. You may find the company’s cancelation policy in the company’s offering circular.

Once your investment is canceled, there is a 10-day clearing period (from the date your investment was submitted). After your funds have cleared the bank, you will receive your refund within 10 business days.

Refunds that are made through ACH payments can take up to 10 business days to clear. Unfortunately, we are at the mercy of the bank, but we will do everything we can to get you your refund as soon as possible. However, every investment needs to go through the clearing process in order to get sent back to the account associated with the investment.

Both Title III (Regulation Crowdfunding) and Title IV (Reg A+) help entrepreneurs crowdfund capital investments from unaccredited and accredited investors. The differences between these regulations are related to the investor limitations, the differing amounts of money companies are permitted to raise, and differing disclosure and filing requirements. To learn more about Regulation Crowdfunding, click here, and for Regulation A+, click here.

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IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN EXAMINATION OF THE ISSUER AND THE TERMS OF THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. INVESTMENTS ON STARTENGINE ARE SPECULATIVE, ILLIQUID, AND INVOLVE A HIGH DEGREE OF RISK, INCLUDING THE POSSIBLE LOSS OF YOUR ENTIRE INVESTMENT.


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Unless indicated otherwise with respect to a particular issuer, all securities-related activity is conducted by regulated affiliates of StartEngine: StartEngine Capital, LLC, a funding portal registered here with the US Securities and Exchange Commission (SEC) and here as a member of the Financial Industry Regulatory Authority (FINRA), or StartEngine Primary, LLC, a broker-dealer registered with the SEC and FINRA/SIPC . You can review the background of our broker-dealer and our investment professionals on FINRA’s BrokerCheck here. StartEngine Secondary is an alternative trading system regulated by the SEC and operated by StartEngine Primary, LLC, a broker dealer registered with the SEC and FINRA. StartEngine Primary, LLC is a member of SIPC and explanatory brochures are available upon request by contacting SIPC at (202) 371-8300.


Investment opportunities posted and accessible through the site are of three types:


1) Regulation A offerings (JOBS Act Title IV; known as Regulation A+), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Primary, LLC (unless otherwise indicated). 2) Regulation D offerings (Rule 506(c)), which are offered only to accredited investors. These offerings are made through StartEngine Primary, LLC. 3) Regulation Crowdfunding offerings (JOBS Act Title III), which are offered to non-accredited and accredited investors alike. These offerings are made through StartEngine Capital, LLC. Some of these offerings are open to the general public, however there are important differences and risks.


Any securities offered on this website have not been recommended or approved by any federal or state securities commission or regulatory authority. StartEngine and its affiliates do not provide any investment advice or recommendation and do not provide any legal or tax advice with respect to any securities. All securities listed on this site are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. StartEngine does not verify the adequacy, accuracy or completeness of any information. Neither StartEngine nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy, or completeness of any information on this site or the use of information on this site. See additional general disclosures here.


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StartEngine’s Reg A+ offering is made available through StartEngine Crowdfunding, Inc. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information about this offering, please view StartEngine’s offering circular and risk associated with this offering.