I have exactly the same problem. Tried few different boards and SD cards. At the same time Raspbian SD card works perfectly.
P.S.
My mistake. I was trying to use RPi2 image for PI 1 B+
I have exactly the same problem. Tried few different boards and SD cards. At the same time Raspbian SD card works perfectly.
P.S.
My mistake. I was trying to use RPi2 image for PI 1 B+