having an issue with xmaencode.exe

[GamerSuper]

when trying to encode any pcm WAV is says me this:
http://opicture.ru/upload/2010/01/14/11/1263501258870393.jpg
what's a problem?

[DreamcastReviewer]

Missing a required DLL I'm assuming?

[GamerSuper]

no...
i tried xmaencoder in its original folder (not separately) - same problem