BleepingComputer.com: Application Error - The application failed to initialize properly

Hi All,

I recently purchased a new laptop and I have had this error occur almost since the start.

Basically, when I switch on my laptop, both bttray.exe and GrooveMonitor display the exact same error(bar the application name in the title) - I have also tried to install AVG Free which comes up with the same error when trying to start.

The error is:

BTTray.exe - Application Error
The application failed to initialize properly (0xc150004). Click OK to terminate the application.

I am running Microsoft® Windows Vista™ Ultimate 6.0.6001.1.1252.44.1033.18.3066.1940

I haven't tried anything to correct this as I wouldn't know where to start.
Any help anyone can provide would be highly appreciated,

Thank you in advance,

Joe