HMMM am I reading this wrong (probably)? We get USD$1.925...

HMMM am I reading this wrong (probably)? We get USD$1.925 million on Friday, and another USD 17.5 million after it is voted on? the loan part may also be coming soon? "The loan for USD17.5 million is unsecured, repayable in 5 years, carries interest of 3.25% p.a. and is denominated in USD. The Board is of the view that the loan is commercial and balanced. It requires Mr Rivero’s signature which is expected today after which a further announcement will be released to the market"

What I am saying is that the USD1,925 million for 100,000,000 shares should be here Friday (hopefully?)
but it seems to me that the loan may be going through soon as well? for USD17.5 million if I am reading this right?

AND "then" we will get to vote whether we will accept the USD17.5 million for a huge slice of our company?
I wonder if this is the way it will really happen? because we may not need the last USD17.5 million perhaps?

Is it possible that we get the USD1.925 million and the loan for USD17.5 million, before we vote on whether we approve of the large equity purchase, because the way it is written is a little ambiguous


Here is the latest release

As previously advised to the market Metal Storm has entered into a legally binding Subscription Agreement with Assure Fast Holdings Limited BVI (AFHL) to provide new equity of USD17.5 million in two tranches, USD1.925 million initially, and a further USD15.575 million on shareholder approval. Additionally, Metal Storm previously advised that AFHL also intends to lend USD17.5 million as part of the overall funding arrangements, subject to final terms, issues of both tranches of equity and noteholder approval.
The Company has previously announced that the first tranche of equity for USD1.925 million would be completed yesterday, 3 November 2009.
Mr Robert Rivero, the principal in the transaction, is based in Manila, Philippines along with his associates and legal advisers. As you may have read in other media reports, Manila was struck by Cyclone Mirinae on Friday which reportedly caused widespread damage. This, combined with the bank holiday in Manila on Monday has delayed the processes necessary to complete the first equity tranche.
Given these circumstances Metal Storm did not receive the first equity tranche of USD1.925 million yesterday and has agreed to extend settlement of the first equity tranche to close of business on Friday, 6 November 2009.
Since the initial announcement of this contract Metal Storm and AFHL have been working together and separately on due diligence and other transfer related procedures. In the course of those processes, nothing has come to Metal Storm’s notice that would indicate that the subscription will not, or cannot, proceed.
The loan documentation has now been negotiated and Metal Storm understands that it is agreed in form. The loan for USD17.5 million is unsecured, repayable in 5 years, carries interest of 3.25% p.a. and is denominated in USD. The Board is of the view that the loan is commercial and balanced. It requires Mr Rivero’s signature which is expected today after which a further announcement will be released to the market