Will not boot up

I have recently purchased an Xbox and when I plugged it in and hit the power button nothing happened, the light on the controller lights up but only when I hold the power button or eject button. I noticed that the fan spins for a second when I push the button down and when I opened it up all the soldering seemed fine and there was some epoxy or some other white stuff on the power supply but I got it all off and it still won't work. On the motherboard there is a bundle of 3 big capacitors and each has a little bit of orange stuff coming out the top but I have seen that before on other things and they still worked any help would be appreciated.