Configure Dynamics AX 2012 Mobile Connector - Error

I tried to install and Configure Dynamics AX Mobile Time and Expense application, by following the instructions mentioned in the Whitepaper (ConfigureMicrosoftDynamicsAXConnectorforMobileApplications.docx).

  1. Azure Account Creation
  2. ADFS 2.0 Configuration
  3. Installation of Hotfix for Dynamics AX (For Timesheet service and additional operations on unreconciled expense)
  4. Mobile Connector installation and configuration

When I tried to click on start button on mobile connector after entering the parameters i am getting error as below.

When I checked the Windows event viewer the error is as below.

Please suggest any solutions. Thanks