[Peeweelinux] rc.init

[peeweelinux@adis.on.ca]

hello,
it's the first time I give a try to peeweelinux and I hope I won't ask things that have already been answered...
I downloaded the source package and ran the script pwlconfig. Worked fine until the Extract File System for project. I found out about an hour later I had to run the rpm2tar first. Maybe this will help some new comers like me...
Now for my problem: 
I'm trying to boot on a floppy. I get a "sh: PATH=/bin:/sbin:/usr/bin:/usr/sbin: No such file or directory"
I extracted the ramdisk from the floppy mounted it and ran the script rc.init with a chroot. So I could conclude it comes from the rc.init (boy that's only the second line of the script :( ).
and btw, I'm using busybox (<--- it's probably his fault!!)
Has anybody gone through that?

Fran�ois