To fix it I did the following.
1. Downloaded the Amlogic Tools rar file.
2. Unpacked it to my hard drive
3. Using the SD card creator tool inside the rar I selected the uboot.bin from the root folder of the rar, not the one inside the sd card creator folder.
4. I selected to format the card too and hit start, after it was all done I got a successfull message.
5. Downloaded the image from Post #2 in this topic.
6. Placed the zip file and created my own factory_update_param.aml file with notepad, pasting this into it
--update_package=/sdcard/k200-ota-20140722.zip
--wipe_cache
--wipe_media
7. Safely ejected the SD card from the pc.
8. Put sd into M8, hold button inside AV socket and apply power, as also said in this topic within 12 seconds it will begin to update with the android logo on the screen.
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