The red LED could be anything. Do you still have the manual that came with your printer? If you don't, look here:http://h10025.www1.hp.com/ewfrf/wc/manualCategory?cc=us&dlc=en&product=3374277&lc=en&jumpid=reg_R1002_USEN
"Can't print" isn't a very detailed and useful description of your problem. Can you give us more details? Such as what the printer does, if anything? Do you get any messages on your computer? Is your computer aware of the printer? etc.
I'm sorry, could you explain what you mean by "is this is for dispose already"?