Can't Make New Company
From TrueERP wiki
Overview
This has come about due to the "erpnewdb" being corrupted due to a number of reasons. Either it didn't update or is in-complete.
ERP uses this database to create new company files. It in essence makes a copy of this file to create the new file.
To fix, simply restore a backup from the current machine using a version that was working or download the latest copy from the TrueERP download page on the web site, under "Existing Users"
Use the "ERP Service Menu" to retore the file without loading ERP if need be