It means that there is no memory (RAM). IF there is it means the RAM isn't working, if you have more than one stick test them on their own, maybe only ones gone.
My last edit to this post and my last post in this hread, thank you.
Thanks to other threads I have solved my double computer dilema and am hoping I will have the second "failed" computer up and running soon like the first computer is now.
I changed the bios from 533 to 667 because I have 667 memory installed in the Dimm0 slot and now the motherboard gives 3 beeps during boot and nothing else. I have not got passed the 3 beeps state. I have just now read the beep codes page posted in the link above which I will read in detail and try soon.
Edited: This is the second of these motherboards I have been stupid enough to change the bios memory setting to 667 from 533 to match the specifications of the memory sticks in the computer and now there is 3 beeps and nothing happens after then. I installed a different processor and the 3 beeps stopped but there is nothing happening on the screen.
Message was edited by: Nicholas Baker