Hey SB
Find below the entire output:

C:\Program Files\Nokia\Flasher>flasher -i
flasher 3.12.1 (Oct 6 2011) Harmattan
WARNING: This tool is intended for professional use only. Using it may result
in permanently damaging your device or losing the warranty.

Suitable USB interface (bootloader/phonet) not found, waiting...
Found device RM-696, hardware revision 1603
NOLO version 2.3.6
Version of 'sw-release': DFL61_HARMATTAN_40.2012.21-3_PR_009
Success

C:\Program Files\Nokia\Flasher>flasher -f -F D4A3D2AC_DFL61_HARMATTAN_40.2012.21
-3_PR_LEGACY_009-OEM1-958_ARM.bin -F DFL61_HARMATTAN_40.2012.13-7.NOMAPS_EMMC_NO
MAPS.bin --erase-user-data
flasher 3.12.1 (Oct 6 2011) Harmattan
WARNING: This tool is intended for professional use only. Using it may result
in permanently damaging your device or losing the warranty.

Found device RM-696, hardware revision 1603
NOLO version 2.3.6
Version of 'sw-release': DFL61_HARMATTAN_40.2012.21-3_PR_009
Sending ape-algo image (7096 kB)...
100% (7096 of 7096 kB, avg. 20750 kB/s)
Suitable USB interface (phonet) not found, waiting...
Ping attempt 1 (250 ms)
Server application: 1.7.2
Found product RM-696 rev. 1603
Server implements softupd protocol version 1.8

Battery level 23 %, continuing.
Erasing, this may take a while.
Erase done.
Image SW version DFL61_HARMATTAN_40.2012.21-3_PR_009
Image moslo not present
Image tar skipped
Image config skipped

Battery level 24 %, continuing.

image [state progress transfer flash speed]
---------------------------------------------------------------------
[x] cert-sw [finished 100 % 1 / 1 kB NA ]
[x] cmt-2nd [finished 100 % 95 / 95 kB NA ]
[_] cmt-algo [init 100 % 789 / 789 kB NA ]
[ ] cmt-mcusw [pending 0 % 0 / 0 kB NA ]
[x] xloader [finished 100 % 23 / 23 kB NA ]
[x] secondary [finished 100 % 94 / 94 kB NA ]
[x] kernel [finished 100 % 2714 / 2714 kB 1766 kB/s]
[_] rootfs [writing 0 % 34816 / 1170206 kB 573 kB/s]
[ ] mmc [pending 0 % 0 / 0 kB NA ]
ERROR: SU_GET_UPDATE_STATUS_REQ terminated with error code 1: Unknown error

image [state progress transfer flash speed]
---------------------------------------------------------------------
[x] cert-sw [finished 100 % 1 / 1 kB NA ]
[x] cmt-2nd [finished 100 % 95 / 95 kB NA ]
[f] cmt-algo [init 0 % 789 / 789 kB NA ]
[-] cmt-mcusw [pending 0 % 0 / 0 kB NA ]
[x] xloader [finished 100 % 23 / 23 kB NA ]
[x] secondary [finished 100 % 94 / 94 kB NA ]
[x] kernel [finished 100 % 2714 / 2714 kB 1766 kB/s]
[x] rootfs [finished 100 % 1170206 / 1170206 kB 10423 kB/s]
[x] mmc [finished 100 % 261587 / 261587 kB 13064 kB/s]
Fetching error list:
========================================
bb5_rdc_cert_read failed
bb5_rdc_cert_read failed
bb5_rdc_cert_read failed
bb5_rdc_cert_read failed
bb5_rdc_cert_read failed
bb5_rdc_cert_read failed
Timeout while waiting for the HWBREAK
Could not reboot into cold bootmode
[Pipe 6] Finishing in error state with status 1
========================================

ERROR: Failed to flash images

C:\Program Files\Nokia\Flasher>