YZiLabs challenges the BNC board: chaotic execution, disordered communication, demands the introduction of new directors to "rescue the market".

According to CoinWorld news, investment institution YZiLabs stated that it has submitted a preliminary consent statement to the U.S. SEC, proposing to expand the board of directors of NASDAQ-listed CEA Industries Inc. (BNC) by soliciting written consent from shareholders and electing several new directors. YZiLabs expressed that its investment in BNC is based on its favorable view of the company's fundamentals, the DAT strategy centered around BNB, and the potential to become a “category-defining DAT company,” but since completing $500 million PIPE financing this summer, BNC's stock performance has diverged significantly from this logic, even though BNB’s price has seen considerable rises during this period. Ella Zhang, head of YZiLabs, stated that BNC's current poor performance is primarily due to “weak strategic execution, insufficient communication with investors, and ineffective board oversight,” and therefore hopes to strengthen corporate governance, improve information disclosure and market communication, and realign the stock price with the intrinsic value of asset net worth and the treasury strategy by expanding the board and bringing in more experienced and competent new directors. YZiLabs also pointed out issues such as delays in submitting key SEC documents, failure to update digital asset treasury and NAV data in a timely manner, and confusion in external identity and strategic narrative, believing that shareholders can no longer wait. The announcement indicated that the participants in this consent solicitation action are expected to include YZiLabs Management, CZ, and several proposed director candidates. YZiLabs currently directly holds about 2.15 million shares of BNC common stock and holds various warrants that can potentially be converted into common stock, but due to the 4.99% holding limit clause, these warrants will not be exercised in the short term. YZiLabs stated that it will soon announce the specific list of director candidates, aiming to release the company’s potential value through stronger board governance while not compromising BNC's digital asset treasury vision.