RESTORE!
Sorry, couldn't resist.
As long as you know that restoring may end up being an option if we/you can't figure this out - may I ask for more info so that the members can try to help.
To start, what version of iPad do you have - and is it running iOS 5.1.1?
What do you mean it freezes on the start up time? Does it stay the time that it is when your iPad is woken up? Have you checked your time settings in the Settings app?
Have you installed any themes that affect the status bar (that's probably a yes, cause status bars usually get themed - so, what theme then)? Have you installed any tweaks that affect time or the status bar? For instance, Springtomize 2 allows you to mess about with the time, both on the lockscreen or the status bar.
Was the time problem always there since the jail break or did it start recently or after you downloaded something from Cydia? In other words, that you remember, did you do something [different] and then notice the time? Have you attempted to do a restart or a reset of the iPad? Does the time work if you put the iPad into Safe Mode (that answer will help us determine if it's a tweak using Mobile Substrate is causing trouble)?
That's all the questions I can think of now. As you can see, the more details on the problem, the more the folk here might be able to see something that will help them figure out what's going on.
Marilyn