No, he is not lying, Jay has said, that MOBL is paying cash on the YAG interest.
He did say that YAG is getting shares for the principal at YAG's discretion (in the last letter to me and even before that), it is also in the 8k.
So for the interest payments they (MOBL) pay cash and for principal they pay in shares.
Dilution knows no bottom, greed knows no top.
-Crashman