@garp
Is this full output?
Then you are missing the preinit_harmattan file/link.
Furthermore your preinit is just a link to init (an executable). It should be a shell script. So something went awry.
permissions should be -rwxr-xr-x
Kernel will not start this way (idk if loading via kexec also fails already at this stage).
What you need for sure is the original preinit and the preinit_harmattan from juiceme (other repository preinits.tar.gz)).