YZi Labs requests 10X Capital and Hans Thomas to disclose ownership in BNC

YZi Labs Management Ltd. has announced that it has sent an official letter to 10X Capital Asset Management LLC and Director Hans Thomas, demanding the prompt disclosure of beneficial ownership stakes in CEA Industries Inc. (ticker BNC), due to suspected violations of reporting obligations under U.S. securities laws.

According to YZi Labs, regulations require investors to file Schedule 13D within five business days when ownership exceeds 5% of the outstanding shares. The organization believes that 10X Capital has surpassed this threshold since late 2025 but has not made the necessary disclosures. Additionally, Hans Thomas — co-founder of 10X Capital and a member of BNC’s Board of Directors — is alleged to have failed to file Form 3 to report initial ownership with the SEC as required under Section 16(a).

YZi Labs emphasizes that they have submitted all Schedule 13D filings and amendments on time, even as ownership percentages have fluctuated due to share repurchases and additional issuances by the company. The entity asserts that timely and transparent disclosure of influential shareholder groups is crucial to protecting shareholder rights and ensuring market transparency.