Prospector,
First thing I notice from your pictures is your player is labeled 4GB. 4GB players like this do not exist they are fakes with chips hacked to read and behave larger than they really are in your case much larger. As you can see
HERE Hynix do not make a 4GB chip, the largest chip they make is a 16Gigabit which is 2GigaByte.
According to the Hynix specification sheet
HERE the Hynix HY27UF08
1G2M is a 1Gigabit chip which is 128MB. Flashing or formatting will remove the hack and expose the true size of the chip. You should ask your supplier how a 4GB player only has a 128MB chip and demand a full refund.