Respected ed_nash
thanks to your suggestion I have managed to make and start my application trough script file at the and of boot.
To help others that have little knowledge as I have, I will elaborate this topic further.
In Timesys Factory folder (for example):
/timesys/pcl052/factory-20140113/build_armv7l-timesys-linux-gnueabi/rfs/etc/init.d
Make file with S*XX prefix where XX is the highest number in that folder. For example: S99_ACME
I have attached sample file, where you have to change path and file name you wish to start.
This file copy to /rfs/etc/init.d folder of your SD card.
With best regards,
Dragan Kujovic