Insolvency is when the company is unable to pay its debts. The...

Insolvency is when the company is unable to pay its debts. The long term liabilities were waived by the US government.

The product is profitable

The only issue the company has now is paying its CEO 600k a year. If this is not sustainable, the entire management team need to take a pay cut. Or they sell the business to the highest bidder. Maybe they already have an offer but it’s abit low ball haha. Or they want another opportunity to turn the company around, need more time to find the best strategic way to achieve this.