error when working with winarm

I'm a beginner. I began working with winarm20060606, and when compiling 
examples available. I encountered an error as follows:

> "make.exe" all

> Failed to create StdOut and StdErr Pipe: The specified path is invalid.

> Process Exit Code: 0
> Time Taken: 00:00


Although I have installed winarm as guidance. please help me ....