Cannot initialize data bindings - SOLUTION

You are getting error
Cannot initialize data bindings

Here is the solution.

make sure msstdfmt.dll is available in system32 folder. if not get it from the files of the application you are using and copy it there.

and go to command prompt and register the dll by type: 
regsvr32.exe msstdfmt.dll

Note: You may select Run as administrator while running command prompt.