NanoKVM PCIe - no display, no IP

[elf55]

I have a new NanoKVM PCIe that just arrived and I've installed in single lane PCIe slot in a ZimaCube pro and connected the HDMI, USB, PoE Ethernet, and reset, power LED, and HDD pins. The NanoKVM powers on and flashes the green LED on the back several times. The Ethernet switch shows that link is up. It never requests in IP address and the display panel is dark. I have pressed the reset switch and held it down for two seconds without results. The Ethernet link goes down and then comes back up and the green LED blinks a few times.

I have put in a new SD card with firmware version 1.3.0 and see no different result.

Can someone confirm that the device is broken or is there some other reason for it to be almost dead?