No. Authorized as you know are the total amount. Reserved are shares put aside for specials purpose corporate actions like warrants and preferred stock which have a set conversion rate. For convertible loans there is no way they can predict the PPS at conversion.
If they owe $1 million and the PPS is say .10, then they will have to issue 75% discounted shares based on that price. If the PPS is .01, the same applies.
That is the reason I believe they will soon increase the A/S.
I am trying to find TC Special Investments Ted Ralston who seems to be cashing in for billions of shares.
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