-sh: ./led: Permission denied mini2440

I am really new at this.I recently migrated from Fedora 17 to Ubuntu 12.04.
I was trying to run a led program on the target (i.e. my mini2440) when the
following error came up. At the time I was in the root of the target.
Further Note: I issued permission to the output file using the following
command chmod 777 led yet it is still a no go. What am I missing ? I would
also like to know if there is a listing of the various commands that the
mini accepts ?

Forgive me is this is basic stuff as I am just starting out.

-sh: ./led: Permission denied

You are likely to be running Busybox, so check out <Busybox help> in
Google.

You have checked that there is actually a binary called led somewhere on
the target?

I would find it and then in that directory issue your command

./led and see if that works

Maybe, the path is not in the normal list of places to find things.

Do you have led on a host machine?  Then try

readelf -a and check the last few lines ... you want to see arm4vt
somewhere.