Sunset Island Group Inc (SIGO)

[loanranger]

I'm pretty sure that they can't do this:
"The Company will decrease the authorized from 100,000,000 shares of common stock to 60,000,000."

Round numbers based on latest public info:
There are 5 million shares outstanding.
There are preferred shares outstanding that are convertible to 46 million shares.
There's an open S-1 with 19 million shares available to be issued.

Can they really drop their share authorization below the 70M share total of those potential and existing issuances?