YZi Labs Writes to CEA Industries Board: Requests Clarification of False News and Full Disclosure of Director's Related Party Transaction

On February 10, YZi Labs sent a letter to the board of CEA Industries, dismissing CEA’s claim of a "secret agreement" between the two parties as entirely false. The board was fully aware of the agreement—with legal counsel provided by Winston & Strawn—and board members Alexander Monie, Hans Thomas, and Namdar (then CEO of 10X Capital) were fully involved. The so-called "secrecy" is a misleading statement to the public, YZi Labs said. CEA’s demand to terminate the Strategic Services Agreement (SSA) is equally baseless, per the letter. YZi Labs terminated the SSA on December 11, 2025, and provided written notice to the CEA board on December 13. The SSA did not involve any payments and had no impact on negotiations for the 10X Asset Management Agreement. The CEA board is attempting to use an "investigation" as a cover-up for its inaction on the known facts, YZi Labs added. It is urging the board to immediately clarify its misleading statements, fully disclose Hans Thomas’ relevant related-party transactions, and effectively safeguard shareholder interests.