Planet Phatt Issues

Hello,

I just purchased a used Planet Phatt. When I turn on the unit, the screen looks all garbled with the presets appearing as a random string of ascii characters. However when I go into diagnostic mode and re-initialize the device, the presets return. But as I tried to turn on the device today, the exact same thing happened again. Anyone have any ideas as to what may be going on? Could it be as simple as needing a battery replacement?