Did you by any chance open the macbook and disconnect the battery before this error occurred? I had a similar problem where I could not boot past a certain point when I installed a new drive in my macbook - it had something to do with when i disconnected the battery - it reset the laptops clock back to 1970 or something. I had to use a recovery disk, go into terminal and set the date back to normal before i could install anything.
Lol