YZi Labs calls on 10X Capital and its director Hans Thomas to immediately disclose their actual ownership of CEA Industries.

PANews February 18th News, YZi Labs stated in an official blog that it has sent a formal letter to 10X Capital Asset Management and related parties, accusing them of violating Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934 by failing to disclose their actual beneficial ownership of common stock in CEA Industries Inc. YZi Labs pointed out that, based on public information, 10X Capital has held more than 5% of the outstanding common shares of BNC beneficially since the end of 2025, but has not filed a Schedule 13D to disclose the formation of the ownership group. Additionally, Hans Thomas, a founding partner of 10X Capital and a director of BNC, has not filed Form 3 with the SEC, failing to fulfill the initial ownership reporting obligation under Section 16(a).

YZi Labs stated that it itself filed its initial Schedule 13D on time on November 26, 2025, and promptly submitted amendments following changes in holdings due to company buybacks and issuance adjustments. To maintain consent solicitation procedures and exercise shareholder rights under Nevada law, YZi Labs chose to form a group with other shareholders and fulfill disclosure obligations as required. YZi Labs investment partner Alex Odagiu emphasized that SEC disclosure rules are not a “personal preference” or “optional internal management,” but a fundamental obligation that anyone wishing to serve as a director of a publicly listed company must adhere to. YZi Labs called on 10X Capital to immediately disclose its actual beneficial ownership of BNC under Section 13(d), and urged Hans Thomas to promptly submit Form 3 to disclose his holdings.