Instruction is quite clear: °O Please insert PlayStation™ CD-ROM. Oo°
This screen suggests that the emulator is working (at least well enough to boot), but there is a problem reading the 'CD-ROM' file you're trying to use. Have you tried loading a different game? Or a copy of your intended game from a different source or in a different format (ISO, CHD &c.)? E.g. I'm playing Xenogears using BIN & CUE files.
Other things to check: Are you using a BIOS file from the same region as the game? Are you running the Homebrew Menu using title takeover (hold R while opening a game) rather than limited-memory applet mode (don't hold R while opening the album)? Can you open the emulator menu to reset the virtual console to get it to start reading the game file? - the screen seems like what I would expect to see when starting up an IRL PS1 with no disc / an invalid disc in it.