Yzi Labs Investment Partner Accuses CEA Industries of Maliciously Delaying Shareholders' Meeting, Jeopardizing Listing Status

BlockBeats News, February 13th, Alex Odagiu, Partner at Yzi Labs, recently wrote to the Board of Directors of CEA Industries, accusing them of extremely reckless behavior in delaying the Annual General Meeting (AGM), which could put the company at risk of delisting from Nasdaq. The letter points out that more than 400 days have passed since the last shareholder meeting (December 17, 2024). The Board attempted to extend the meeting interval to 16 months by changing the fiscal year-end to April 30th through an "accounting maneuver."

Alex Odagiu stated that the Board's actions were aimed at avoiding a vote and that in December of last year, they used a "skiing holiday" as an excuse to cover up their moves to block shareholder democracy through a "poison pill plan" and by amending the bylaws. The letter emphasized that despite the Board's attempts to technically comply, their malicious manipulation could trigger Nasdaq's delisting discretion. Yzi Labs demanded that the Board immediately announce the date of the 2025 Annual General Meeting and cease actions that jeopardize the company's listing status in a bid to retain their positions.