Can't boot. No video through HDMI port.

Hi,

I have just received my LP 4/64 model.
I tried to boot it connected to an external HDMI monitor but it does not work.
When I power it on there is a red a blue light then the red one goes off and the blue one goes off after 3 seconds.
I press the power button and the red light goes on for 2 - 3 seconds and then off. The blue stays on for a few more seconds.
The monitor and the cable is good as I use it with another PC.
Is the board faulty?

Any ideas would be appreciated.

Thanks
I.