Really only need two files, bzImage and tinycore.gz copies onto pendrive.
linld image=e:\bzimage initrd=e:\tinycore.gz "cl=quiet vga=788"
That's it, works fine for me. Note if you use the cl directly then enclose in quotes and space separate boot options.
An alternative way which I would find handy especially with multiple boot parameters is to use a parameter file for cl options.
e.g. create a file called tc.par and in it list boot parameters one per line and then boot with
linld image=e:\bzimage initrd=e:\tinycore.gz vga=788 cl=@tc.par
Note: when creating such a file under Linux, it might be wise to convert it to DOS format, e.g. with 'unix2dos'.