TechFlow News, March 11: According to GlobeNewswire, YZi Labs issued a statement regarding a new investor lawsuit filed against CEA Industries (Nasdaq: BNC) and its director Hans Thomas. The lawsuit alleges the company is in an “operational vacuum”—with no CFO, no COO, no operations team, no investor relations department, no fund management system, and even its official website inaccessible.
YZi Labs contends that the company’s board of directors signed a 20-year asset management agreement (AMA) with 10X Capital while failing to maintain basic corporate operations—a move that effectively strips shareholders of their interests. In response, YZi Labs has put forward three demands: 1) publicly disclose the company’s current operational status; 2) establish an independent special committee to investigate Hans Thomas; and 3) immediately terminate the AMA with 10X.
