I am having so many issues. I rooted fine but when I go into Terminal I get a link error and it won't read the SD card. I have the files on the SD card from my PC through my card reader.
Try a different microSD card. The Coby is just finicky about some microSD cards. I've had two that didn't work at all and then the third one works fine. All three cards worked perfectly in every other device I had ever tried.