Hi Elazar,
Bingo!   THank you very much!!!
Booting succesfully!! 
Solution for P24 - 
$this->bbcode_second_pass_code('', '
drwxr-xr-x 2 root root 4096 2011-12-20 02:24 stage1
lrwxrwxrwx 1 root root   24 2012-01-16 21:38 stage1.wrapped -> stage1/stage1.wrapped700
drwxr-xr-x 2 root root 4096 2011-12-20 02:12 u-boot
lrwxrwxrwx 1 root root   21 2012-01-15 18:15 u-boot.wrapped -> u-boot/u-boot.wrapped
drwxr-xr-x 2 root root 4096 2011-12-20 02:26 uImages
lrwxrwxrwx 1 root root   20 2012-01-16 21:33 uImage -> uImages/uImage.nopci
')
For log : 
user root 
password root
Only question: why led is blinking?  - OK Found:  depmod -a  

)) No question.... 
Regards,
Robert
$this->bbcode_second_pass_code('', 'Welcome to minicom 2.4
OPTIONS: I18n 
Compiled on Jan 25 2010, 06:49:09.
Port /dev/ttyUSB0
Press CTRL-A Z for help on special keys                                                                                                                                               
Stage-1 Bootloader Mon Nov 14 22:15:13 EST 2011                                            
Attempting to set PLLA to 700MHz ...                                                       
  plla_ctrl0 : 0x0000000A                                                                  
  plla_ctrl1 : 0x000E0000
  plla_ctrl2 : 0x001B01A0
  plla_ctrl3 : 0x00000016
PLLA Set
Setup memory, testing
Reading disk 0, Image 0
  Sector : 0x0000009A
  Hdr len: 0x0001FB34
  Hdr CRC: 0x2229BDCD
 OK
Initialising disks
SATA PHY not ready for device 1
Detecting SATA busses:
Bus 0: Found first device OK
  Device 0: Model: WDC WD800BEAS-00RRT0 Firm: 04.01G04 Ser#: WD-WXE208C02426
            Type: Hard Disk
            Capacity: 76319.0 MB = 74.5 GB (156301488 x 512)
  Device 1: not available
Failed to read valid environment from disk, using built-in default
U-Boot 1.1.2 (Dec 31 2011 - 15:24:45)
U-Boot code: 60E00000 -> 60E1FB34  BSS: -> 60E5435C
RAM Configuration:
        Bank #0: 60000000 128 MB
SRAM Configuration:
        64KB at 0x50000000
NAND:128 MiB
*** Warning - bad CRC, using default environment
In:    serial
Out:   serial
Err:   serial
Setting Linux mem= boot arg value
IDE read: device 0 block # 288, count 1 ... 1 blocks read: OK
Hit any key to stop autoboot:  0 
Loading from IDE device 0, partition 1: Name: hda1
  Type: U-Boot
   Image Name:   Linux-2.6.31.6_SMP_820
   Image Type:   ARM Linux Kernel Image (uncompressed)
   Data Size:    2159884 Bytes =  2.1 MB
   Load Address: 60008000
   Entry Point:  60008000
## Booting image at 60500000 ...
   Image Name:   Linux-2.6.31.6_SMP_820
   Image Type:   ARM Linux Kernel Image (uncompressed)
   Data Size:    2159884 Bytes =  2.1 MB
   Load Address: 60008000
   Entry Point:  60008000
   Verifying Checksum ... OK
OK
Starting kernel ...
Uncompressing Linux................................................................................................................................... done,.
[    0.000000] Linux version 2.6.31.6_SMP_820 (root@ProDev) (gcc version 4.6.0 20110429 (prerelease) (GCC) ) #100 SMP Sun May 29 04:53:45 EDT 2011
[    0.000000] CPU: ARMv6-compatible processor [410fb025] revision 5 (ARMv7), cr=00c5387f
[    0.000000] CPU: VIPT nonaliasing data cache, VIPT nonaliasing instruction cache
[    0.000000] Machine: Oxsemi NAS
[    0.000000] 1 memory region
[    0.000000] Ignoring unrecognised tag 0x00000000
[    0.000000] Memory policy: ECC disabled, Data cache writealloc
[    0.000000] Built 1 zonelists in Zone order, mobility grouping on.  Total pages: 32512
[    0.000000] Kernel command line: root=/dev/sda2 console=ttyS0,115200 elevator=cfq mac_adr=0x00,0x30,0xe0,0x00,0x00,0x01 rootwait ubi.mtd=2,512 mem=128M ps
[    0.000000] PID hash table entries: 512 (order: 9, 2048 bytes)
[    0.000000] Dentry cache hash table entries: 16384 (order: 4, 65536 bytes)
[    0.000000] Inode-cache hash table entries: 8192 (order: 3, 32768 bytes)
[    0.000000] Memory: 128MB = 128MB total
[    0.000000] Memory: 125496KB available (3692K code, 291K data, 124K init, 0K highmem)
[    0.000000] Hierarchical RCU implementation.
[    0.000000] NR_IRQS:96
[    0.000000] OX820_RPS_init_irq: interrupts 64 to 96
[    0.010000] Console: colour dummy device 80x30
[    0.010000] console [ttyS0] enabled
[    0.020000] Calibrating delay loop... 279.34 BogoMIPS (lpj=1396736)
[    0.260000] Security Framework initialized
[    0.260000] Mount-cache hash table entries: 512
[    0.270000] CPU: Testing write buffer coherency: ok
[    0.270000] Calibrating local timer... 349.99MHz.
[    0.340000] CPU1: Booted secondary processor
[    0.440000] Calibrating delay loop... 279.34 BogoMIPS (lpj=1396736)
[    0.670000] Brought up 2 CPUs
[    0.680000] SMP: Total of 2 processors activated (558.69 BogoMIPS).
[    0.690000] NET: Registered protocol family 16
[    0.690000] Number of DMA channels = 4, version = 4
[    0.700000] Reserving a DMA channel for DirectRAID
[    0.700000] Allocating 389 SRAM generic DMA descriptors
[    0.720000] bio: create slab <bio-0> at 0
[    0.730000] SCSI subsystem initialized
[    0.730000] usbcore: registered new interface driver usbfs
[    0.740000] usbcore: registered new interface driver hub
[    0.740000] usbcore: registered new device driver usb
[    0.780000] NET: Registered protocol family 2
[    0.780000] IP route cache hash table entries: 1024 (order: 0, 4096 bytes)
[    0.790000] Switched to NOHz mode on CPU #0
[    0.790000] TCP established hash table entries: 4096 (order: 3, 32768 bytes)
[    0.790000] Switched to NOHz mode on CPU #1
[    0.800000] TCP bind hash table entries: 4096 (order: 3, 32768 bytes)
[    0.810000] TCP: Hash tables configured (established 4096 bind 4096)
[    0.810000] TCP reno registered
[    0.820000] NET: Registered protocol family 1
[    0.820000] Create fragment cache
[    0.830000] fuse init (API version 7.12)
[    0.830000] msgmni has been set to 245
[    0.840000] alg: No test for stdrng (krng)
[    0.850000] io scheduler noop registered
[    0.850000] io scheduler anticipatory registered
[    0.850000] io scheduler deadline registered
[    0.860000] io scheduler cfq registered (default)
[    0.880000] Serial: 8250/16550 driver, 2 ports, IRQ sharing disabled
[    0.890000] serial8250: ttyS0 at MMIO 0x44200000 (irq = 55) is a 16550A
[    0.900000] brd: module loaded
[    0.910000] loop: module loaded
[    0.920000] ox820sata: OX820 sata core.
[    0.920000] scsi0 : oxnassata
[    0.920000] scsi1 : oxnassata
[    0.930000] ata1: SATA max UDMA/133 irq 50
[    0.930000] ata2: SATA max UDMA/133 irq 50
[    0.940000] ox820sata: reseting SATA core
[    1.460000] ata1: SATA link up 1.5 Gbps (SStatus 113 SControl 300)
[    1.520000] ata1.00: ATA-7: WDC WD800BEAS-00RRT0, 04.01G04, max UDMA/133
[    1.520000] ata1.00: 156301488 sectors, multi 0: LBA48 NCQ (depth 0/32)
[    1.530000] ata1.00: configured for UDMA/133
[    1.540000] ox820sata: reseting SATA core
[    2.250000] ata2: SATA link down (SStatus 0 SControl 300)
[    2.250000] scsi 0:0:0:0: Direct-Access     ATA      WDC WD800BEAS-00 04.0 PQ: 0 ANSI: 5
[    2.260000] sd 0:0:0:0: [sda] 156301488 512-byte logical blocks: (80.0 GB/74.5 GiB)
[    2.270000] sd 0:0:0:0: [sda] Write Protect is off
[    2.270000] sd 0:0:0:0: [sda] Write cache: enabled, read cache: enabled, doesn't support DPO or FUA
[    2.280000] tun: Universal TUN/TAP device driver, 1.6
[    2.280000] tun: (C) 1999-2004 Max Krasnyansky <maxk@qualcomm.com>
[    2.280000] NAND: Page read time 40ms
[    2.280000] NAND device: Manufacturer ID: 0xad, Chip ID: 0xf1 (Hynix NAND 128MiB 3,3V 8-bit)
[    2.280000] Scanning device for bad blocks
[    2.350000]  sda:
[    2.350000] Creating 2 MTD partitions on "NAND 128MiB 3,3V 8-bit":
[    2.360000] 0x000000000000-0x000000e00000 : "boot"
[    2.360000] 0x000000e00000-0x000008000000 : "rootfs"
[    2.370000] UBI: attaching mtd2 to ubi0
[    2.370000] UBI: physical eraseblock size:   131072 bytes (128 KiB)
[    2.380000] UBI: logical eraseblock size:    129024 bytes
[    2.380000] UBI: smallest flash I/O unit:    2048
[    2.390000] UBI: sub-page size:              512
[    2.390000] UBI: VID header offset:          512 (aligned 512)
[    2.400000] UBI: data offset:                2048
[    2.810000]  sda1 sda2
[    2.810000] UBI: attached mtd2 to ubi0
[    2.820000] UBI: MTD device name:            "rootfs"
[    2.820000] UBI: MTD device size:            114 MiB
[    2.830000] UBI: number of good PEBs:        912
[    2.830000] UBI: number of bad PEBs:         0
[    2.840000] UBI: max. allowed volumes:       128
[    2.840000] UBI: wear-leveling threshold:    4096
[    2.850000] UBI: number of internal volumes: 1
[    2.850000] UBI: number of user volumes:     1
[    2.860000] UBI: available PEBs:             0
[    2.860000] UBI: total number of reserved PEBs: 912
[    2.860000] UBI: number of PEBs reserved for bad PEB handling: 9
[    2.870000] UBI: max/mean erase counter: 2/0
[    2.880000] UBI: image sequence number: 0
[    2.880000] sd 0:0:0:0: [sda] Attached SCSI disk
[    2.880000] ehci_hcd: USB 2.0 'Enhanced' Host Controller (EHCI) Driver
[    2.890000] oxnas-ehci oxnas-ehci.0: OXNAS EHCI Host Controller
[    2.900000] oxnas-ehci oxnas-ehci.0: new USB bus registered, assigned bus number 1
[    2.900000] UBI: background thread "ubi_bgt0d" started, PID 301
[    2.930000] oxnas-ehci oxnas-ehci.0: irq 39, io mem 0x00000000
[    2.950000] oxnas-ehci oxnas-ehci.0: USB 0.0 started, EHCI 1.00
[    2.950000] usb usb1: New USB device found, idVendor=1d6b, idProduct=0002
[    2.960000] usb usb1: New USB device strings: Mfr=3, Product=2, SerialNumber=1
[    2.960000] usb usb1: Product: OXNAS EHCI Host Controller
[    2.970000] usb usb1: Manufacturer: Linux 2.6.31.6_SMP_820 ehci_hcd
[    2.980000] usb usb1: SerialNumber: usb
[    2.980000] usb usb1: configuration #1 chosen from 1 choice
[    2.990000] hub 1-0:1.0: USB hub found
[    2.990000] hub 1-0:1.0: 2 ports detected
[    3.000000] Initializing USB Mass Storage driver...
[    3.000000] usbcore: registered new interface driver usb-storage
[    3.010000] USB Mass Storage support registered.
[    3.010000] mice: PS/2 mouse device common for all mice
[    3.020000] TCP cubic registered
[    3.020000] NET: Registered protocol family 10
[    3.030000] NET: Registered protocol family 17
[    3.030000] RPC: Registered udp transport module.
[    3.040000] RPC: Registered tcp transport module.
[    3.140000] kjournald starting.  Commit interval 5 seconds
[    3.140000] EXT3 FS on sda2, internal journal
[    3.150000] EXT3-fs: mounted filesystem with writeback data mode.
[    3.150000] VFS: Mounted root (ext3 filesystem) on device 8:2.
[    3.160000] Freeing init memory: 124K
[    3.310000] usb 1-1: new high speed USB device using oxnas-ehci and address 2
INIT: version 2.88 booting
[    3.460000] usb 1-1: New USB device found, idVendor=05e3, idProduct=0608
[    3.460000] usb 1-1: New USB device strings: Mfr=0, Product=1, SerialNumber=0
[    3.470000] usb 1-1: Product: USB2.0 Hub
[    3.480000] usb 1-1: configuration #1 chosen from 1 choice
[    3.480000] hub 1-1:1.0: USB hub found
[    3.490000] hub 1-1:1.0: 4 ports detected 
 > Arch Linux ARM 
 > http://www.archlinuxarm.org 
   ------------------------------
:: Mounting Root Read-Only    [BUSY]    [FAIL] 
:: Adjusting system time and setting kernel timezone    [BUSY]    [DONE] 
:: Starting UDev Daemon    [BUSY]    [DONE] 
:: Triggering UDev uevents    [BUSY]    [DONE] 
:: Loading Modules    [BUSY] [    5.450000] Probing for Synopsis GMAC, unit 0
[    5.460000] eth0: Tuning GMAC 0 RGMII timings
[    5.460000] eth0: PHY is Realtek RTL8211D, type 0x001cc914
[    5.470000] eth0: GMAC ver = 53, vendor ver = 18 at 0xed400000, IRQ 40
[    5.470000] eth0: Found PHY at address 3, type 0x001cc914 -> 10/100/1000
[    5.480000] eth0: Ethernet addr: 00:30:e0:00:00:00
[    5.490000] probe() eth0: Leon x2 clock
   [DONE] 
:: Waiting for UDev uevents to be processed    [BUSY] [    6.400000] VFS: Can't find ext3 filesystem on dev sda1.
[    6.400000] VFS: Can't find an ext2 filesystem on dev sda1.
   [DONE] 
:: Bringing up loopback interface    [BUSY]    [DONE] 
:: Checking Filesystems    [BUSY]    [DONE] 
:: Remounting Root Read/Write    [BUSY]    [FAIL] 
:: Creating mtab    [BUSY]    [DONE] 
:: Mounting Local Filesystems    [BUSY]    [DONE] 
:: Activating Swap    [BUSY]    [DONE] 
:: Configuring Time Zone    [BUSY]    [DONE] 
:: Removing Leftover Files    [BUSY]    [DONE] 
:: Setting Hostname: alarm    [BUSY]    [DONE] 
:: Setting Locale: en_US.UTF-8    [BUSY]    [DONE] 
:: Setting Consoles to UTF-8 mode    [BUSY]    [DONE] 
:: Loading Keyboard Map: us    [BUSY]    [DONE] 
:: Saving dmesg Log    [BUSY]    [DONE] 
INIT: Entering runlevel: 3
:: Setting MAC address    [BUSY] FATAL: Module oxnas_led not found.
AMBER
GREEN
[    9.560000] eth0: PHY is Realtek RTL8211D, type 0x001cc914
[    9.570000] CoPro offload is active on eth0
[    9.570000] Alloc'ing ARM descs 8192 bytes
[    9.580000] Alloc'ing CoPro parameters 36 bytes
[    9.580000] gmac gmac.0: firmware: requesting gmac_copro_firmware
[    9.630000] CoPro: Programming start address as 0xd000e000
[    9.740000] eth0: Resetting GMAC
[    9.740000] eth0: GMAC reset complete
[    9.750000] eth0: Setting Rx flow control thresholds for LAN port
[   10.300000] eth0: PHY is Realtek RTL8211D, type 0x001cc914
[   10.800000] eth0: link down
[   12.760000] ADDRCONF(NETDEV_UP): eth0: link is not ready
   [DONE] 
[   12.800000] eth0: link up, 100Mbps, full-duplex, using pause, lpa 0x45E1
[   12.800000] ADDRCONF(NETDEV_CHANGE): eth0: link becomes ready
:: Starting Syslog-NG    [BUSY]    [DONE] 
:: Starting Network    [BUSY]    [DONE] 
:: Mounting Network Filesystems    [BUSY]    [DONE] 
:: Starting crond daemon    [BUSY]    [DONE] 
:: Starting Secure Shell Daemon    [BUSY] ssh-keygen: generating new host keys: RSA1 RSA DSA ECDSA 
   [DONE] 
:: Starting OpenNTPD    [BUSY]    [DONE] 
Arch Linux 2.6.31.6_SMP_820  (alarm) (ttyS0)
alarm login: root
Password: 
Login incorrect
alarm login: 
Login timed out after 60 seconds.
Arch Linux 2.6.31.6_SMP_820  (alarm) (ttyS0)
alarm login:')