Since it took some time and effort I decided to share my observations. What is the correct? After second boot up, when you enter engineering mode you will see that the radio is "on". When the device boots you will see that it wants to do a full reset - there is no way around this. Once you flash this, there is one more flashing that has to be done - NVRAM.Also, since the radio was "off" it was impossible to write the correct IMEI. None of them worked. I've tried with the ones provided on the official bq page they are the MediaTek ones and wiht the generic ones provided on PdaNet.
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Install MTK6577 VCOM USB Drivers For Mediatek MT6577 Devices On Windows