DIY Gamebuino Flashing Loader screen takes forever!

I recently built a gamebuino classic based on the BBGameBuino project.
After sucessfully flashing the bootloader and going though the checkup wizard and settings, I tried using an SD card. When I press the C button, the screen displays: “flashing loader… don’t turn off”
I have left the system loading for more than two hours but nothing !!!
When I remove the SD card then power the unit on, I can go through the Settings page but when I press the C button, the screen shows: “flashing loader… don’t turn off” for a second, then, goes back to the settings page.
Included are some pictures of the unit.
Does someone have an idea of what can be causing the problem ?

I think the issue might be caused by a too large capacity SD card.
I used a 16gb SD card I had laying around and formated it to FAT 16.
It seems that most gamebuinos are using 2gb SD cards.
I will order one and try it out.