No SEC regulation saying Fully Diluted can't exceed authorized, no examples of companies that abide by the rule as you see it... Your argument seems to be that SEC recognizes GAAP therefore GAAP is an automatic SEC regulation. Not really.
As a practical matter logic would dictate that fully diluted would exceed authorized in any company with any sort of convertible instrument or employee option program. If the market price of the underling stock went down the price- in shares - of conversion would go up thereby necessitating an increase in the authorized to match the new numbers. If this were indeed the case you would see companies raising their authorized on a daily basis.
Yeah, right, good day.
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