Ann: Long Term Suspended Entities, page-32

Let me make this clear for you.

A company is "insolvent" when it cannot show that it is able to repay it's debts when they fall due.
This is the situation with Audio Pixels at this point in time.

We'll have to wait and see if their new auditors give them the "going concern" label in the June report. HIgh risk.

For re-listing the ASX would require them to prove, via cashflow projections supported by evidence, that they can become solvent and remain that way for at least the next 12 months. Obviously they have not been able to do this.

A company is "trading when insolvent" when it enters into a commercial debt in the course of its business while it is insolvent.
It is permitted to trade, i.e. sell goods & services to produce income, but of course this doesn't apply to Audio Pixels.

Get the picture. Now cut the gibberish.