Format Factory “application configuration is incorrect&

I have been using Format Factory for several years. I’ve never had a problem using it or updating it. I had to reformat my computer recently. Ever since then when I click on Format Factory it says:
C:\Program files (x86)\FreeTime\FormatFactory.exe This application has failed to start because the application configuration is incorrect. Reinstalling the Application may help.
I have uninstalled and reinstalled several times but I continue to get the same error message. I don’t understand why it is suddenly giving me problems after my reformat because I used the same disc as always (XP Pro SP2 64bit).
Can anyone help with this problem Please?
Answer #1
Use freemake video convertor
http://www.freemake.com/free_video_converter/
Answer #2
use autogk, megui or handbrake