I think you are correct. 30m would give them a 51%+ majority. Not overly bothered by this. They are obviously worried existing SH's will tank the price as soon as they can so they will want to keep the shares locked up as long as possible so they can generate more outside interest. It will also push the price up on good news as there are less shares in circulation.
GMV Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held