When my BP200 is turned "ON", there are two red flashing LEDs. I cannot receive and transmit audio.I tried changing batteries and pressing the IC / ISO buttons but the lights do not go off.
This normally indicates that the beltpack is not registered to a basestation. You need to register the beltpack to the base station.  If you are unable to do that confirm that you are not seeing the letter “F” on the LED display of the base station when you attempt to register the beltpack. That would prevent you from registering additional beltpacks to the base station because the registry is full. 
You would need to reset (clear) the registry  and re-register all beltpacks To clear the registry- press and hold the clear/band button - press and release the reset button- continue to hold the clear/band button until a small "c" is displayed. 
Remember to re-register all beltpacks after clearing the registry