virtualbox.org

I am a novice at Linux and Embedded development. I am using an ARM processor development kit with Linux kernel v 2.6.28 called Kubuntu. My company did not want a separate Linux comp or dual booting and so I used Virtual Box. The installation was pretty smooth and successful and VB recognized USB speaker?receiver for mouse and keyboad, ethernet etc. The major issue so far has been trying to get Kubuntu running on the VB to recognize the Serail to USB converter. I have activated all the required settings in VirtialBox as mentioned on http://www.virtualbox.org/manual/UserMa ... erialports for both Serial ports and USB ports. I have created a 'named pipe' as required by Virtualbox on Windows hosts. This is what I see upon pining these ports

ankita@DigiDevelopmentPC:/dev$ dmesg | grep tty
[ 0.004000] console [tty0] enabled
[ 2.005389] serial8250: ttyS0 at I/O 0x3f8 (irq = 4) is a 16450
[ 2.006057] serial8250: ttyS1 at I/O 0x2f8 (irq = 3) is a 16450
ankita@DigiDevelopmentPC:/dev$ dmesg | grep usb
[ 0.973219] usbcore: registered new interface driver usbfs
[ 0.973530] usbcore: registered new interface driver hub
[ 0.973673] usbcore: registered new device driver usb
[ 2.462307] usb usb1: configuration #1 chosen from 1 choice
[ 2.523926] usb usb2: configuration #1 chosen from 1 choice
[ 3.120829] usb 2-1: new full speed USB device using ohci_hcd and address 2
[ 3.701655] usb 2-1: configuration #1 chosen from 1 choice

But do not recieve anything upon start up of the processor. I am new at Linux but according to my interpretation the tty ports shown above are just teh enabled ones not necessarily the ones functioning.

I have tried a couple of solutions from online forums like
http://www.linuxquestions.org/questions ... on-586971/
http://ubuntuforums.org/showthread.php? ... nextoldest

but nothing seems to be working. In the second link I made a new file called 50-....permissions and used all teh suggested commands like restart . The next commant vboxdrv setup was not found so I used vbox-2.1.4 setup I think and it failed in the last step.
The Seallevel USB Serial Adapter is recognized as COM3 on XP and a USB device on VirtualBox which I have enabled and shows that it is attached on the VB windows under DEvices.

I have no clue what to try oout next. I have tried searching online and even used some solutions. Please help.

P.S. This is my first time posting so please ask as many qs if I have not been too clear. This is extremely URGENT