Software freezes when opening project. Using non FAT files Below is error message

Screenblast Movie Studio 3.0
Version 3.0b (Build 118)
Exception 0xC0000005 (access violation) READ:0x10 IP:0x113E8C7
In Module 'sbvfact30k.dll' at Address 0x1000000 + 0x13E8C7
Thread: GUI ID=0x624 Stack=0x127000-0x130000
Registers:
EAX=00000000 CS=001b EIP=0113e8c7 EFLGS=00010246
EBX=00129000 SS=0023 ESP=00127d48 EBP=00216168
ECX=00000000 DS=0023 ESI=001102c6 FS=0038
EDX=0000002b ES=0023 EDI=00129000 GS=0000
Bytes at CS:EIP:
0113E8C7: 66 8B 48 10 8D 70 14 8B f.H..p..
0113E8CF: D1 C1 E9 02 F3 A5 8B CA ........
Stack Dump:
00127D48: 00000000
00127D4C: 00129000 00030000 + F9000
00127D50: 00129000 00030000 + F9000
00127D54: 001102C6 00030000 + E02C6
00127D58: 00214618 00140000 + D4618
00127D5C: 0113EC3B 01000000 + 13EC3B (sbvfact30k.dll)
00127D60: 001102C6 00030000 + E02C6
00127D64: 00216168 00140000 + D6168
00127D68: 00214618 00140000 + D4618
00127D6C: 00129000 00030000 + F9000
00127D70: 001102C6 00030000 + E02C6
00127D74: 77D45F0E 77D40000 + 5F0E (USER32.dll)
00127D78: 012CB3A8 012B0000 + 1B3A8
00127D7C: 00128E84 00030000 + F8E84
00127D80: 00000000