That would be expected if you were booting from NAND. Here is an example below showing the expected output when booting from NAND memory.
If you find that you are booting from NAND, you might consider format your SD Card with the HP 2.0.6 formatting tool also available on the product website. This has proven to be more reliable.
*****************************************************************
LogicLoader
(c) Copyright 2002-2012, Logic Product Development, Inc.
All Rights Reserved.
LoLo Version: 2.4.16-OMAP3503 0001
SOM Model Number: SOMOMAP3530-20-1670AGCR
SOM Part Number: 1013021
SOM Serial Number: 2709M02929
*****************************************************************
losh> info arch
Platform: OMAP35x Torpedo SOM
------------------------------
CPU info:
------------------------------
Boot Device: NAND Flash
Si ID code: 0x4b7ae02f
Hawkeye Number: b7ae
CPU Version: 4
CPU Die ID: 463600040000000004032f6504012017
Public ROM CRC: 0x288f48f7
Processor Features:
------------------------------
SGX: Full
IVA2: Present
L2 Cache Size: 256kB
Camera ISP: Present
NEON VFP Lite: Present
SDI: Present
CS1: Present
MMC width: 4 bit
TV out: Present
losh> erase /dev/nand0 B0 B2048
dev nand erase: The area 0x0 - 0x10800000 is protected.
************************* WARNING!! *****************************
You are about to erase one or more protected areas. This area
may be protected because it contains data used by LoLo, or it may
be a partitioned space. If you erase this location you may loose
data in a partition, or LoLo may not be able to boot. Are you
sure you want to do this?
************************* WARNING!! *****************************
Do you wish to continue? (y/n)