YZi Labs posted a new article on X, demanding immediate SEC disclosures, alleging that undisclosed warrant exercises may have pushed 10X Capital’s ownership above 5%, raising concerns about transparency, potential reporting violations, and the existence of an undisclosed insider “group.” YZi Labs cited company filings suggesting that 10X Capital Asset Management LLC and affiliates beneficially own more than 5% of CEA Industries Inc. shares, and criticizes the lack of a required Schedule 13D filing by 10X and board member Hans Thomas.The firm argues that 10X’s silence following public calls for clarification raises concerns that mandatory SEC reporting requirements may have been deliberately avoided, limiting shareholder transparency.Company filings show that 2,376,236 warrants were exercised during the relevant period, closely matching the number of shares underlying warrants held by 10X-affiliated entities.YZi Labs confirms it did not exercise its warrants, reinforcing the inference that the exercised warrants were attributable to 10X-related entities.Based on 44,062,938 shares outstanding as of December 12, 2025, the exercised warrants alone would represent approximately 5.39% ownership, suggesting 10X may have exceeded the SEC reporting threshold.YZi Labs contends that overlapping affiliations and aligned ownership among 10X-linked entities and company insiders warrant scrutiny as possible concerted action requiring disclosure under Section 13(d)(3).
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