CEA Industries (ADR) (BNC)
Operates a BNB treasury alongside Central Canadian vape and industrial climate-control businesses.
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Operates a BNB-focused digital-asset treasury alongside a Central Canadian vape retailer and manufacturer and an industrial climate-control business, while reported customer revenue comes from the operating units.
Operates two segments: BNB Treasury Management, which acquires, holds, disposes of, and manages BNB and ancillary digital assets, and Retail and Industry. The latter combines Fat Panda's Central Canadian vape shops, e-commerce, proprietary e-liquids, and wholesale business with Surna's environmental-control design, engineering, equipment-selection, and start-up support for controlled-environment agriculture.
Centers its capital strategy on BNB exposure managed through U.S., Delaware, and Cayman entities, while customer revenue comes from the retail and industrial operations. Fat Panda uses a Winnipeg manufacturing and distribution hub and a Central Canadian store network; Surna provides project support but does not construct or install facilities.
BNB concentration connects results to the BNB Chain and Binance ecosystem, a non-U.S. custody provider, and digital-asset regulation. Vape operations depend on Canadian licensing, labeling, promotion, flavor, age, and excise-tax rules.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $7.1M · Total debt $18.5M · Total assets $327.2M · Shareholders' equity $289.4M
- Revenue
- $7.2M
- Operating income
- −$5.9M
- Net income
- −$11.4M
No dividends on record.
| Institutions | 19.29% | 7.94M ADS | |
|---|---|---|---|
| 31 holders · as of Jun 30, 2026 | |||
| Insiders | 4.23% | 1.74M ADS | |
| 10 holders · as of Jul 6, 2026 | |||
| Strategic holders | 23.68% | 9.75M ADS | |
| 1 holder · as of Sep 21, 2026 | |||
| Other | 52.80% | 21.74M ADS | |
| remainder | |||
41.17M ADS as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
YZILabs Management Ltd.Strategic10 percent owner | 23.68% | 9.75M ordinary | filed Sep 21, 2026 |
Vanguard Capital Management LLCInstitution | 4.61% | 1.90M ADS | as of Jun 30, 2026 |
Brevan Howard Capital Management LPInstitution | 3.69% | 1.52M ADS | as of Jun 30, 2026 |
Saba Capital Management, L.P.Institution | 2.98% | 1.23M ADS | as of Jun 30, 2026 |
David NamdarInsiderofficer: Chief Executive Officer | 2.10% | 864,428 ordinary | filed Dec 19, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Oct 6, 2025 | Anthony K. McDonald | director, officer: President | +5,848 | $8.55 |
| Oct 1, 2025 | Anthony K. McDonald | director, officer: President | +1,230 | $7.86 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CEA Industries (ADR) | $6.02 | −5.13% | $261.0M | 1.1 | — | 1.7 | −4.6% |
| British American Tobacco (ADR) | $55.64 | −0.21% | $120.25B | 14.4 | — | 3.5 | −0.1% |
| Nano Labs (ADR) | $2.38 | +0.85% | $158.9M | — | — | 0.0 | −64.6% |
| Strategy | $162.69 | −2.77% | $55.35B | — | 4.9 | 111.1 | +6.9% |
| Grayscale Bitcoin Mini Trust ETF | $36.99 | −2.95% | $5.46B | — | — | — | — |
| Hydrofarm | $0.9801 | −2.48% | $4.8M | — | — | 0.0 | −40.9% |
| Median | 14.4 | 4.9 | 1.8 | −20.5% |