Enzolytics Inc (ENZC)

[foxi]

The other possibility I see is if they were authorized in case the company gets acquired. That way the insiders would get paid for the value of those shares even though the current share structure doesn't have any Authorized left for conversions.

Otherwise it might seem they're there to facilitate conversions/dilution after a future reverse split, either by insiders themselves or as a general bargaining chip for partnerships and lenders since prior bargaining chips are already used up. If ENZC is not acquired, the existence of the shares virtually guarantees a dilutionary change to O/S or A/S sometime in the future.