I'll be surprised is the factory reset clears the display. EVERY piece of Alesis or ART rack mount fx I've ever had had this same problem. I dont know if it's a failure in a circuit or if it's just the display panel gone bad.
The problem is you can send ART gear to the new and rejuvenated ART center in New York and for $100 bucks they will completely revamp it for you, new knobs, new display, new jacks, etc....
No such luxury with Alesis. The "new and re-rejuvenated" Alesis company wont even touch authentic Alesis gear if its out of warranty. What kind of bogus crap is that?
Anyway, a good bet would be if you can find a used one for $25 or $50 bucks and just cannibalize the display panel. They just unsnap and snap back in, no soldering (if it's anything at all like the ART units.....I dont really know since my Quadraverb never went bad on me before I got rid of it - but the battery went dead, and Alesis battery replacements are a textbook exercise in poor design).
But if you search and dredge the bottom of the internet long enough, you CAN find authorized centers that will be more than happy to charge you $150-$250 bucks to "rejuvenate" your Quad......IF they can find the parts, and IF they tell you honestly about the work they did or didn't do. That's right, Alesis "authorized" some service centers, but then didn't supply them with any parts. You have to ship it in, then hope the dealer can get the parts from Alesis, then hope they actually do the work you are paying for, then hope it comes back in less than 90 days.
As for myself, I am absolutely through getting burned by Alesis.......nothing left in my rig with that name on it, and I'm darn glad.... Hope your case works out better.