I don't see any problems ... there is no output to serial console, unless specified ... first boot takes little longer, so you need to wait 1-2min to get login prompt. One reboot is in the middle ... not any more in newer Jessie and Trusty builds.
Next edit and change console=ttymxc0,115200 and change loglevel to 7 in boot.cmd, convert to boot.scr ...
Than you should see much more.
If you did not compile on X86 Ubuntu I can't say what went wrong