Trying to setup dedicated server (error)

I am trying to setup a Rust Dedicated Server for me to personally roam around and having a few friends with me, however following this guide:

I am getting this error:

http://undergang.dk/docs/rust/server/rust-dedicated-error.jpg

Does anyone have any ideas/suggestions or am I doing something entirely wrong.

I am trying to run it on a Windows 7 machine with 16 gb of ram, and I have full administrator rights.

[editline]30th September 2015[/editline]

I just realized I should add a drive letter where it says path, sorry about the stupidity.

this is an amzing tool for helping setup and keep a server running.

http://oxidemod.org/resources/rust-experimental-launcher-manager.771/