TechFlow reports that on February 28, YZi Labs released a report accusing CEA Industries (Nasdaq: BNC) of serious equity disclosure violations. Based on its analysis of the company’s own SEC filings, YZi Labs states that 10X Capital and its affiliates may hold more than 5% of the company’s shares but have failed to file the required disclosures as mandated by the SEC. YZi Labs specifically notes that Hans Thomas, a member of BNC’s board of directors and the controlling person of 10X Capital, has not filed Form 3 within the past six months. Additionally, the “poison pill” plan unanimously approved by the company’s board may indicate the existence of an undisclosed coordinated action group. YZi Labs is calling for immediate action to ensure market transparency and protect shareholders’ rights.
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