SmartFTP won't connect to anything

I've been a SmartFTP user for several years. I recently had a hard drive crash on a system and had to re-install everything. I downloaded the latest version of SmartFTP from the site and installed it. Tried to connect to my FTP and SmartFTP immediately gives an error that "Connect failed. Waiting to retry (30s)...". Thinking that this was perhaps because it wasn't licensed yet and knowing that my maintenance had probably run out, I bought a new license. Received the key and installed it and same error. Tried several other ftp sites and same result. Uninstalled and reinstalled several times, re-installed the license key both with the installer and manual method and still no luck. Re-downloaded the latest version. Still nothing "Connect failed" each time, no matter what.
I can connect via a web browser, windows explorer and even installed the freebie FTP FileZilla and all function fine. SmartFTP will give the "Connect failed" immediately when the connect button is hit, doesn't even attempt to resolve the address or show any signs that it is having any sort of real network error.
How can I fix this?

Please post the log from the remote browser.
And the system information from the menu: Help->About "System Information" dialog.

It's not exactly that exciting.

[17:45:53] SmartFTP v4.0.1189.0
[17:45:53] Connect failed. Waiting to retry (30s)...
[17:45:58] Aborted by user.

+- System -----------------------------
Microsoft Windows XP Professional
Service Pack 3 (Build 2600)

CPU Speed : 2327 MHz
Total Memory : 2046 MB
Free Memory : 1313 MB

+- SmartFTP ---------------------------
Version : 4.0.1189.0
Time Stamp : 2011-06-04 06:31:35
Platform : x86
Id : 400138656
Maintenance : 2012-06-07
Days in use : 0

+- Language ---------------------------

+- Internet Explorer ------------------
Version : 8.0.6001.18702

Open Windows Explorer (explorer.exe)
Go to the %ProgramFiles%\SmartFTP Client folder (e.g. C:\Program Files\SmartFTP Client)
Right-click on sfFTPLib.dll
Select Properties
Go to the Digital Signatures tab
Double click the first certificate
The certificate dialog shows and tells you if everything is okay with the signature
Repeat it for SmartFTP.exe

They both say that they can not be verified.

This is an indication that something is seriously broken on your system. The event log may give you more information about the cause. Look for crypt errors in the application/system log.

Hmmm.... I poked around a bit looking at the certificates and clicking the install buttons for them...
Now they both say that the certificates are OK. And SmartFTP is now connecting.
Go figure.
Thanks for your help...seems like there should be some sort of a descriptive error when this particular issue pops up rather than just spitting out a "connect failed" error.

Ah it seems you did not install the new root certificates through Windows Update. I agree with your suggestion. In the next version the Connect() function will at least return an error code which would indicate a license issue: sfFTPLib.dll is not able to verify SmartFTP.exe.

It's a corporate image on a company assigned system, so they lock out windows update in favor of doing their own controlled update and security patch releases from servers within the firewall. Since this was a new install, possibility some of those updates just didn't make the push down yet. I'll try to encourage it a bit manually.
Anyway, seems to be working fine now.