According to a report by TechFlow TechFlow on February 13, an investor letter revealed that Alex Odagiu, an investment partner at Yzi Labs, issued a strong warning to the board of directors of CEA Industries, accusing the company of failing to hold its annual shareholders' meeting for over 400 days and potentially facing delisting from Nasdaq. The letter stated that the board attempted to circumvent Nasdaq Rule 5620(a), which requires an annual meeting to be held within 12 months of the end of the fiscal year, by changing the fiscal year end date to April 30, thus extending the meeting interval to 16 months.
Odagiu alleges that the board of directors passed a "poison pill" plan on December 26, 2025, and amended the company's articles of association to obstruct shareholders' democratic rights. The letter demands that the board immediately announce the date of the 2025 shareholders' meeting, or it will disclose its dishonest behavior of evading responsibility to Nasdaq, the courts, and the shareholder community.
