Transfer Queue fails to do anything

Hi
I am having a problem with a Transfer queue item to Move files from a remote ftp site to a local drive. The Transfer Queue initialization just begins and ends without attempting to do anything. I have included a snapshot to the log. Any ideas on what is wrong here. I have included a snapshot to the log.

[2011-10-17T15:35:21] Initializing. Transfer Queue v4.0.1215.0.
[2011-10-17T15:35:21] Operation Begin
[2011-10-17T15:35:21] Operation End
[2011-10-17T15:35:21] Max retry (1 of 1) reached.
[2011-10-17T15:35:21] Log closed

Regards,
David Foley
Azyra Systems Limited