MPC 1000 Wont Reset Factory Settings

Sorry if this has been posted before. I might be missing crucial information but I understand that in order to reset the MPC 1000 (JJOS2XL) I should power it on while holding the Erase button right?

It's just not doing it for me. I've tried it many times. After unplugging the unit for minutes, etc.

I want to reset it and reinstall JJOS2XL because the MPC just stopped recognizing the memory card. Out of nowhere. it's as if nothing was inserted on the slot (tried other cards also.)

Any ideas?

thanks