Thanks to armin76 from the pandaboard channel I was able to learn that the reason the board did not see the full 1 GB was because the boot loader that ships with the board and in minimalfs is old and doesn’t support it. Armin76 also gave me good advice on options that I could try with, one of them was building my own from source, or use the one that comes with ubuntu. He also pointed me to websites that provided the materials to accomplish these tasks. The source guideline and the Ubuntu guide line.
I am going to be trying the ubuntu version first and then move onto building my own. I am going to be doing this sometime this week I will post if it is successful or not as soon as I am done.