Core Viewpoint - YZi Labs Management Ltd. has issued a formal Notice and Demand for Corrective Action to 10X Capital Asset Management LLC, citing mismanagement, lack of transparency, and potential breaches of fiduciary duty that could lead to sustained depreciation of CEA Industries, Inc. share prices [1][2]. Group 1: Mismanagement and Governance Issues - YZi Labs accuses 10X of threatening to abandon the BNB Treasury Strategy, which was previously represented to investors as a key focus for a $500 million PIPE investment [2]. - The management of BNC has reportedly misled shareholders and caused significant value destruction, with BNC's stock trading approximately 19% below pre-PIPE announcement levels and 87% below post-announcement levels [4][14]. - There are claims of delayed disclosures regarding BNC's assets and a lack of a public dashboard for transparency, which are standard practices among other Digital Asset Treasury (DAT) leaders [5]. Group 2: Demands for Corrective Action - YZi Labs demands that 10X confirm compliance with the BNB Treasury Strategy by December 5, 2025, and provide assurance that BNB assets have not been improperly disposed of [3]. - The Notice calls for amendments to the Asset Management Agreement (AMA) and the release of fundamental information expected from a publicly traded DAT, including operational plans and risk frameworks [6]. - YZi Labs seeks timely updates on BNC's BNB holdings and other critical information to restore investor confidence [7]. Group 3: Shareholder Actions - YZi Labs plans to take necessary actions to protect shareholder interests, including soliciting consent to expand the Board with independent and experienced directors [8]. - A preliminary consent solicitation has been filed with the SEC to facilitate these changes [10].