CEA Industries Confirms Receipt of Letter Requesting Board Set a Record Date in Connection with YZi Labs' Consent Solicitation

Core Viewpoint - CEA Industries Inc. is facing a consent solicitation from YZILabs Management Ltd. to add up to seven directors to its Board, which could lead to a transfer of control to YZILabs, raising concerns about the interests of existing stockholders [2][3][5]. Group 1: Consent Solicitation Details - YZILabs has submitted a Request Letter to the Board to set a record date for its consent solicitation process [2][4]. - The Request Letter is a necessary step for YZILabs to potentially gain control of the Board, which currently has six directors [3][4]. - The Board is reviewing the Request Letter to ensure compliance with the Company's bylaws before announcing a record date for stockholders eligible to vote [7]. Group 2: Implications of Control Transfer - If YZILabs gains control, it could lead to decisions that may not align with the best interests of existing stockholders, such as purchasing BNB at inflated prices from close associates of Changpeng Zhao [5][6]. - The Board emphasizes the importance of independent oversight and is committed to evaluating YZILabs' director nominees based on their potential contributions to the Board's existing skills and expertise [6][8]. Group 3: Company Background - CEA Industries Inc. is a growth-oriented company focused on building leading businesses in consumer markets, including managing the world's largest corporate treasury of BNB [9].