2. Can also be used (at the same time) to mean "How Are You?"
To use both at the same time the other person must be familiar with the term else the conversation will go to pot.
JAZ: I'm sweet thanks! hay?
MIMI: I'm cool.
JAZ: don't you just think "hay" is so much
easier than using ...how are you...
MIMI: yer totally, whoever says "how are you"
must be some kinda dork.
JAZ: I agree.
JAZ: yer ...see you later...
MIMI: ok this is going too far...
Normal Person: Shut the fuck up.