Rotten apple, ATV hangs on boot

My ATV hangs on boot, I have updated to the latest Flash soft 3.6, seem to install ok. it hangs once the apple logo appears, then the screen go black. Any Idea’s how restore.

To restore your Apple TV:

Hold down the Menu and Menu down/scroll (-) buttons on the remote for approximately 3 to 5 seconds, until the LED on Apple TV flashes yellow.