Hello Ramenmaestro, with FS-state ≥10 there is no pre-installed IndOS on the Advanced IOT2050. Please check our pinned forum-entry on How to use your IOT2050 with Example Image or IndOS. When using the Example Image it may be required to skip the emmc-boot and to adjust the boot order on initial boot.
 

The red STAT-LED means System startup failed or no valid operating system is detected.

BR