A firm once backed by David Beckham has seen yet another CFO and director resign this morning after years of upheaval following its listing in London.
Finance chief Nicholas Lyth and non-executive director Matt Lodge took part in a subscription for new shares in Cel AI Plc only last month. That subscription raised £500,000, with the aim of building a stock of Bitcoin, following the ‘Bitcoin treasury’ trend seen in larger companies.
The duo then subscribed for further shares at the start of June, raising a further £250,000 for the company’s Bitcoin policy.
However Lyth, who has experience in quoted companies such as Univision Engineering, Altona Energy, Taihua plc, Phoenix Digital Asset, Supernova Digital Assets, File Forge Technology, and Ora Technology, has now quit alongside Lodge.
The news of his departure comes almost a year to the day after previous CFO Bruna Nikolla quit the firm. Executive director Timothy Le Druillenec, who had only joined the company a couple of weeks previously, also stepped down on that day.
In February 2025 Michael Edwards resigned as executive chairman, replaced by Olivia Edwards.
Originally focused on cannabinoid products, Cellular Goods floated in 2021 to great fanfare, with England and Manchester United legend Beckham subscribing for a 5% stake through his investment vehicle DB Ventures.
Beckham would later sell his stake in the firm, while it saw its CBD-infused food supplements withdrawn from shop shelves due to regulatory issues.
The company was also subject to advertising bans imposed by tech giants Facebook and Google.
A huge pivot amid the rise of generative AIs such as ChatGPT saw the business rebranded as Cel AI and focus on providing tailored beauty advice and product recommendations via a chat interface, as well as skincare and wellness products.
Today the firm moved to appoint Elliot Fielding as CFO with immediate effect. He is currently managing partner of Sampson Fielding, a firm of chartered accountants and business advisors, and previously a director of AQSE-listed Flex Labs Inc.
Cel AI’s share price dropped below a penny in 2023 and currently stands around 0.46p (9am).
Preston North End turns to TikTok sensation for shirt sponsor