you better send the tool to the openwrt devoloper to help you
sorry to bump old thread, what is the baud rate, data bits setting?
trying to boot with mikrotik squashfs but got hang.
Failed to bind hotplug socket: No such file or directory
Press the [f] key and hit [enter] to enter failsafe mode
Press the [1], [2], [3] or [4] key and hit [enter] to select the debug level
[ 5.984000] mount_root: Could not open mtd device: /dev/mtd9
[ 5.992000] mount_root: reading rootfs failed
[ 5.996000] mount_root: mounting /dev/root
[ 6.004000] urandom-seed: Seed file not found (/etc/urandom.seed)
[ 6.124000] procd: - early -
[ 6.124000] procd: - watchdog -
[ 6.132000] procd: Failed to bind hotplug socket: No such file or directory
[ 6.140000] Kernel panic - not syncing: Attempted to kill init!
[ 6.144000] do_cpu invoked from kernel context![#1]:
[ 6.144000] Cpu 0
[ 6.144000] $ 0 : 00000000 00000001 bd00009c 80369748
[ 6.144000] $ 4 : 80369748 00000000 803bd78c ffffffff
[ 6.144000] $ 8 : b8020014 0000000d 0000000a 0000000a
[ 6.144000] $12 : 000000cd 00000006 1dcd6500 00000000
[ 6.144000] $16 : fffffffe 00000000 00000000 803bd78c
[ 6.144000] $20 : 00000000 00000001 2ab52db0 00000000
[ 6.144000] $24 : 08583b00 00000000
[ 6.144000] $28 : 87818000 87819e30 00000000 80005d0c
[ 6.144000] Hi : 00009c40
[ 6.144000] Lo : 00000001
[ 6.144000] epc : bd000264 0xbd000264
[ 6.144000] Not tainted
[ 6.144000] ra : 80005d0c debug_panic_event+0x18/0x68
[ 6.144000] Status: 1100ff03 KERNEL EXL IE
[ 6.144000] Cause : 1080002c
[ 6.144000] PrId : 0001974c (MIPS 74Kc)
[ 6.144000] Modules linked in:
[ 6.144000] Process procd (pid: 1, threadinfo=87818000, task=87817a48, tls=2ab59efc)
[ 6.144000] Stack : 8785f0a0 00000008 87404088 8780b620 00000001 8003d4e0 803c0000 80314850
[ 6.144000] 87817a48 004025f1 803c0000 80314850 87817a48 004025f1 2ab2cd08 8003d5b0
[ 6.144000] 87817a48 004025f1 2ab2cd08 00000001 00000000 00000000 803c0000 802c2cec
[ 6.144000] 803bd78c 803bd78c 803bdb8c 803bdb8c 87819ec4 00000100 00000100 87817a48
[ 6.144000] 87817a48 004025f1 2ab2cd08 80027760 8741cd14 87819d6c 87819e98 00000001
[ 6.144000] ...
[ 6.144000] Call Trace:
[ 6.144000] [<8003d4e0>] notifier_call_chain+0x50/0xac
[ 6.144000] [<8003d5b0>] atomic_notifier_call_chain+0x14/0x20
[ 6.144000] [<802c2cec>] panic+0x7c/0x138
[ 6.144000] [<80027760>] do_exit+0x8c/0x568
[ 6.144000] [<80027cb8>] do_group_exit+0x7c/0xa8
[ 6.144000] [<801bb784>] sys_socket+0x54/0x7c
[ 6.144000] [<80027cf8>] sys_exit_group+0x14/0x24
[ 6.144000] [<8000e564>] stack_done+0x20/0x3c
[ 6.144000] [<8006e218>] sys_close+0x0/0xe4
[ 6.144000]
[ 6.144000]
[ 6.144000] Code: 00000000 00000000 01000202 <01020301> 02040002 05000200 04030904 10034100 54004800
[ 6.144000] Disabling lock debugging due to kernel taint
[ 6.332000] Fixing recursive fault but reboot is needed!
Did you try to remove the NAND flash after solderer the SPI Flash?