Booting problem with cisco 3508xl-en switch

This is what appears when i try to boot
C3500XL Boot Loader (C3500-HBOOT-M) Version 12.0(5.3)WC(1), MAINTENANCE INTERIM
Compiled Mon 30-Apr-01 07:51 by devgoyal
Base ethernet MAC Address: 00:07:50:ea:3e:c0
Xmodem file system is available.
Initializing Flash...
flashfs[0]: 1 files, 1 directories
flashfs[0]: 0 orphaned files, 0 orphaned directories
flashfs[0]: Total bytes: 3612672
flashfs[0]: Bytes used: 1536
flashfs[0]: Bytes available: 3611136
flashfs[0]: flashfs fsck took 2 seconds.
...done Initializing Flash.
Boot Sector Filesystem (bs:) installed, fsid: 3
Parameter Block Filesystem (pb:) installed, fsid: 4

The system is unable to boot automatically because there
are no bootable files to boot.
Who is Participating?
If it is a new switch, send it back to Cisco for RMA. Most likely the .bin file on flash is missing. If it is old switch and you have smartnet, download the IOS for recovery.
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