That message can have two different reasons:
1. Soft-bricked. The most common and innocuous is software-based in that there has been some corruption in region 14 of flash memory where the main system software (firmware) is stored. That usually happens when the firmware is being upgraded and a glitch occurs leaving region 14 either empty or incomplete. In such a case an otherwise healthy device usually defaults to preboot mode and it's easily fixed by flashing a 'known-good' version of the fw as an RGN file via Updater.exe.
2. Hard-bricked. The less common but more lethal is hardware-based and cannot be fixed using software solutions. If it's because of physical damage to the flash memory of the device then the device cannot enter preboot mode anyway. Replacement of the flash chip is generally not feasible unfortunately.
If it's only a soft-bricking even though the device won't go into preboot there is a very slight chance to recover it via sd card provided the xrgn command exists in the firmware and the device is entering far enough into the boot cycle to read from the card. Unfortunately the latter's unlikely because Ldr.bin (boot.bin) is loaded late and by fw_all.bin from rgn14 which in your case it seems is corrupt or empty. You can read here: [Only registered and activated users can see links. ].
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