What is happening is that your system must have either been installing updates or configuring them at the very least. Something went wrong and the unit is stuck in install mode. The problem is that because your unit is in install mode Acer eRecovery can't install as it thinks it is starting another version of itself. The best way to get around this problem is to use recovery disks. When you bought your computer there should have been a popup asking you to burn them. If not thank the store where you bought it for skipping that one for you. In this case you will have to buy the disks from Acer for roughly 20 dollars. This covers the cost of shipping as well as the Acer Tech's time for having to burn them. They usually take only a few days to arrive. You will then have to boot off of them and start the recovery procedure.
Own a Predator Laptop? Then I bet you have learned a thing or two from beststevie. He has been helping out in this forum for quite a while and it's about time we recognized him for it. Thanks beststevie!