Sorcery Points - 2014 Rules

So the rules say that if you convert Spell Slots to Sorcery Points that: "You can never have more sorcery points than shown on the table for your level." Seems straight forward. But If you do the reverse (ie convert Sorcery Points to spell slots), the rules say: "You can transform unexpended sorcery points into one spell slot as a bonus action on your turn. The Creating Spell Slots table shows the cost of creating a spell slot of a given level. You can create spell slots no higher in level than 5th", it does not say you cannot exceed the #of spells/lvl shown on the Sorceror table. So, does that mean that for a 2nd level Sorceror (forex) who hasn't cast any of his 3 1st level spells yet, that he can use his 2 Sorcery points to gain a 4th 1st level spell (exceeding the spells/lvl listed in the Sorceror table) or does he have to use one of his 3 1st level spells first to make space? Obviously this question extends to higher level spell slots as well. IOW, is the spells/lvl shown on the Sorceror table a maximum (the way the listed Sorcery Points are), or just a starting value for the day?

Quote from Zeim59 >>

So, does that mean that for a 2nd level Sorceror (forex) who hasn't cast any of his 3 1st level spells yet, that he can use his 2 Sorcery points to gain a 4th 1st level spell (exceeding the spells/lvl listed in the Sorceror table)

Yes. This feature explicitly says you're creating a spell slot. You're not restoring an expended one, so you don't need to have expended one first.

This is the same for the 5.5e version, though the 5.5e version adds a restriction that you can't create a spell slot of a higher level than you normally have spell slots (which you can technically do in some narrow circumstances in the 5e version).