About 5 minutes after the second screen above it says:
Strike F1 to retry boot, F2 for setup utility
What I did
1- I upgraded the BOIS from A04 to A07
2- I could not find an option for BOIS default setup
3- I removed the motherboard battery for about half an hour
4- I removed one of the RAM stick
5- I can access CMOS by pressing F2
6- I tried to eliminate the possibility of a hardware that caused the problem I removed CD rom drive and floppy drive but no luck.
What other troubleshoot steps should I consider ?