YZi Labs demands CEA Industries to respond to the "operational vacuum" issue and terminate the 10X asset management agreement

According to GlobeNewswire, YZi Labs issued a statement indicating that a lawsuit filed by investor Abraham Gomez against the Nasdaq-listed company CEA Industries and its director Hans Thomas shows that the company is almost in an "operational vacuum," lacking a CFO, COO, operational or marketing teams, and even a fund management system, with no registered domain name or functional website.

YZi Labs pointed out that this situation highlights the failure of the CEA Industries board's oversight, and that while signing a 20-year asset management agreement with 10X Capital Asset Management to manage substantial funds, it has not established basic corporate governance and operational infrastructure. Therefore, it demands that the board publicly respond to the related allegations, establish an independent committee to investigate Hans Thomas, and terminate the agreement signed with 10X Capital Asset Management.