RB450 does not boot

I have a RouterBOARD 450 that will not boot with this message:

RouterBOOT booter 2.20

RouterBoard 450

CPU frequency: 300 MHz
Memory size: 32 MB

Press any key within 2 seconds to enter setup..
loading kernel from nand… OK
setting up elf image… OK
jumping to kernel code
Starting…
/etc/rc.d/rc.sysinit: 21: cannot create /var/run/utmp: Directory nonexistent
System halted.

I have replaced the Firmware (ar7100-2.20.fwf) via x-modem (Hyperterminal) with no success.

Doe’s anyone have any other suggestions before I return it to it’s maker?

Reinstall board with Netinstall,
http://wiki.mikrotik.com/wiki/Netinstall

Thanks sergejs, this worked a treat or it did after i disabled Windows Firewall on the host pc :slight_smile: