Local file '%s' not found

I've been using Smart FTP for a few days to test and all was going well, now I'm getting this in the log whenever I try to connect to any FTP site that had previously worked:

SmartFTP v1.5.990.0
Local file '%s' not found.
Cannot login waiting to retry (30s)...

Any ideas what's going wrong here? Can't remember changing any settings.

Many thanks,

Hi, SmartFTP 1.x is not longer supported, update to SmartFTP 2.0