TechFlow News: On February 13, an investor open letter revealed that Alex Odagiu, Investment Partner at Yzi Labs, issued a strong warning to the Board of Directors of CEA Industries, accusing it of failing to convene its annual general meeting for over 400 days—a violation that could trigger delisting risks from Nasdaq. The letter states that the Board attempted to circumvent Nasdaq Rule 5620(a), which mandates holding the annual meeting within 12 months after the fiscal year-end, by changing the fiscal year-end date to April 30—thereby extending the interval between annual meetings to 16 months.
Odagiu accused the Board of adopting a “poison pill” plan and amending the company’s bylaws on December 26, 2025, to obstruct shareholders’ democratic rights. The letter demands that the Board immediately announce the date of the 2025 annual general meeting; otherwise, it will disclose the Board’s dishonest conduct in evading its responsibilities to Nasdaq, the courts, and the shareholder community.
