Empty Console in USB TTL serial method

I'm trying to flash through serial method.
http://www.haxorware.com/forums/showthread.php?tid=7
http://www.haxorware.com/forums/showthread.php?tid=6

I'm using USB TTL device.
I'm using the pinout mentioned here (The corrected one)
http://www.haxorware.com/forums/showthread.php?tid=2238

When i'm trying to connect to COM1 port (I have already configured the USB TTL to use COM1 port), putty console doesn't show anything.
(Attached image 1).

Also if i'm trying to telnet to 192.168.100.1 it says telnet refused.

Is it the correct procedure ?

Information

Modem: SB5101i (Stock) REV A 23-DEC-04

I have also orderd a blackcat usb(It will take 8-15 weeks to reach me ), but i'm trying trough the serial method.

I'm new in this scene please help me.

  Empty Console.PNG (Size: 208.69 KB / Downloads: 6)