Vagrant " VM not created." when trying to create box from existing VM

I imported the precise32 box, then installed some packages and other data on the VM. My plan is to then repackage it into a box, to save on complicated provisioning when sharing.

However.

vagrant package --base dev-vm --output /box/vm.box

Always returns

[dev-vm] VM not created . Moving on

My directory structure is:

-dev-vm
    --.vagrant
    --Logs
    --box.ovf
    --box-disk1.vmdk
    --dev-vm_13345342.vbpx
    --metadata.json
    --Vagrantfile

Ive

 set VAGRANT_LOG=debug

Which shows no extra info on whats going on.

Windows 7 using Cygwin

UPDATE:

 export VAGRANT_LOG=debug

for Cygwin to set debug log.

I then get

 DEBUG subprocess: Waiting for process to exit. Remaining to timeout: 32000
 DEBUG subprocess: Exit status: 0
 INFO warden: Calling action: #<Vagrant::Action::Builtin::Call:0x2abb800>
 INFO runner: Running action: #<Vagrant::Action::Builder:0x2695920>
 INFO warden: Calling action: #<VagrantPlugins::ProviderVirtualBox::Action::Created:0x267c078>
 INFO runner: Running action: #<Vagrant::Action::Warden:0x2ac6c48>
 INFO warden: Calling action: #<VagrantPlugins::ProviderVirtualBox::Action::MessageNotCreated:0x2ac6c00>
 INFO interface: info: VM not created. Moving on...

When you package a box, the box name has to be the specific machine name that you can get from VirtualBox (e.g. lucid_1372711888). Just execute following command in cmd:

vboxmanage list vms

Notice that "vboxmanage" should prior be added to PATH variable. See here how to do that.

Also notice that virtual maschine name must not contain spaces. Otherwise it won't be recognized by "vagrant package" command. For instance:

vagrant package --base win7_vbox_base --output win7_base.box #CORRECT
------------------------------------------------------------------------
vagrant package --base win7 vbox base --output win7_base.box #INCORRECT

If you are in the folder that contains your Vagrantfile, you can also simply run:

vagrant package --output your-box-name.box

The following image shows the content of the .box file created with this command: