Spongetech Delivery Systems Inc (fka SPNGQ)

[loanranger]

There is only one proper definition of authorized shares and it's simple to understand.

A company's authorized shares are the maximum number of shares that it has been allowed to issue by its board of directors.


There is no "total number of shares authorized by SEC".


There is no context in which the phrase "restricted, therefore not "authorized"" makes sense when the word is being used properly.


That should clear things up for you.

Might I also point out that some people are offended when they are told "This should clear things up for you" regarding a subject about which they are already abundantly clear.


Please continue to be informative about the aspects of the securities laws with which you are familiar, especially if you can do so a little less condescendingly.

Good Luck.