YZi Labs Accuses BNC Board of Betraying Shareholders, Hindering Reform, and Falling into Strategic Drift

January 5th — Official sources confirm YZi Labs announced via social media today: YZi Labs Management Ltd. is currently reviewing recent actions by BNC (CEA Industries) targeting YZi’s shareholder group and initiating a proxy solicitation process. These shareholder-harming measures include implementing a “poison pill plan” and amending the company’s articles of incorporation to block and delay shareholders from exercising rights via written consent. YZi contends these actions impose unnecessary restrictions and procedural burdens exceeding what Nevada law mandates. The BNC Board of Directors (the “Board”) appears to have taken these steps to entrench itself — even after YZi warned further infringement of shareholder rights would spark significant shareholder dissatisfaction. YZi reminded the Board that failing to uphold its fiduciary duties could expose the company to potential legal risks. Yet the Board opted to restrict shareholder rights instead of acknowledging fault, signaling its awareness of lacking shareholder support. Numerous other shareholders have confirmed sharing YZi’s concerns and shock over BNC’s unwise strategic shift and abandonment of the BNB ecosystem. Additionally, YZi rejects the company’s claim that it “never considered adopting alternative tokens for its digital asset reserve strategy or launching a competitive digital asset reserve business.” This denial directly contradicts BNC CEO David Namdar’s explicit statement at an industry conference in November 2025 that BNC had explored shifting to other cryptocurrencies like Solana. Given Mr. Namdar and Board member Hans Thomas’ active promotion of and fundraising for other digital asset reserve projects during their tenure at BNC, YZi believes shareholders have cause for concern over a betrayal of their interests.