Error 0x80070005 DllRegisterServer Failed in MPCVideoDecoder

Good evening to all the IT Masters here,
I need your kind assistance with the MPCVideoDecoder.exe. I received an error message from RegSvr32 stating that:

"RegSvr32
The module “C:Program FilesMPCVideoDecoderMPCVideoDec.ax" was loaded but the call to DllRegisterServer failed with error code 0x80070005.
For more information about this problem, search online using the error code as a search term."
Now, I was having a bad feeling about it and thinking if I would get this problem solved or not because I need to use this Video Decoder very often. So please if you can help me regarding this issue then send me some help.
Thanks.
