ok i found the problem, its a 32bit binary, and im running a 64bit OS.
arm-none-eabi-gcc: ELF 32-bit LSB executable, Intel 80386, version 1 (SYSV), dynamically linked (uses shared libs), for GNU/Linux 2.2.5, stripped
after a quick search in the ubunru wiki, i found out that i need to install "ia32-libs" to run 32bit executables, and voila! its working now :-)
thank you guys for your help, i was about to start pulling my hair from desperation.