TechFlow news, on January 7, YZi Labs posted on social media stating that, as a significant shareholder of CEA Industries (NASDAQ: BNC), YZi Labs is disappointed with the "poison pill plan" adopted by BNC's board of directors and the amendments to the bylaws that restrict shareholders' written consent rights. YZi Labs believes these measures are intended to entrench the board's own position rather than protect shareholder interests.
YZi Labs refuted BNC's claim that it "never considered alternative tokens," pointing out that BNC CEO David Namdar explicitly stated at an industry conference in November 2025 that the company had considered switching to other crypto assets such as Solana.
YZi Labs has submitted a preliminary consent statement to the U.S. Securities and Exchange Commission, seeking to expand the size of BNC's board of directors and elect its nominated directors. YZi Labs calls on the board to ensure a fair and transparent nomination and election process for the 2025 annual general meeting of shareholders.
