CEA Industries (BNC) Proxy Filing summary

Executive summary

• YZi Labs submitted a request for the Board to set a record date for stockholders to consent to proposals including repealing bylaw provisions, expanding the Board, amending vacancy procedures, and electing seven new directors.

• The Board is reviewing the validity of YZi Labs' request and will announce a record date if appropriate.

• A press release was issued confirming receipt of the request and outlining the Board's position and next steps.

• Stockholders are advised that no action is required at this time.

Voting matters and shareholder proposals

• YZi Labs proposes to repeal certain bylaw provisions, increase the Board size from six to thirteen, amend procedures for filling Board vacancies, and elect seven nominees to the Board.

• The Board will present its recommendation on these proposals in a definitive consent revocation statement to be filed with the SEC and mailed to eligible stockholders.

Board of directors and corporate governance

• YZi Labs' proposal would shift Board control by adding seven directors, potentially transferring control to YZi Labs.

• The Board is assessing the independence and qualifications of YZi Labs' nominees, noting that most have ties to Changpeng Zhao and his affiliates.

• The Board emphasizes its commitment to representing all stockholders' interests and maintaining independent oversight.