Dear Sirs! Could you please tell me what i might have done wrong and how i should fix the following issue:

After I install a fresh copy of Gemini, i get the following error when i open http://localhost/gemini:

Server Error in '/Gemini' Application.
Timeout expired.  The timeout period elapsed prior to completion of the operation or the server is not responding.
Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.

Exception Details: System.Data.SqlClient.SqlException: Timeout expired.  The timeout period elapsed prior to completion of the operation or the server is not responding.

Source Error:
An unhandled exception was generated during the execution of the current web request. Information regarding the origin and location of the exception can be identified using the exception stack trace below.

Stack Trace:

[SqlException (0x80131904): Timeout expired.  The timeout period elapsed prior to completion of the operation or the server is not responding.]
   System.Data.SqlClient.SqlConnection.OnError(SqlException exception, Boolean breakConnection) +857482
   System.Data.SqlClient.SqlInternalConnection.OnError(SqlException exception, Boolean breakConnection) +735094
   System.Data.SqlClient.TdsParser.ThrowExceptionAndWarning(TdsParserStateObject stateObj) +188
   System.Data.SqlClient.TdsParser.Run(RunBehavior runBehavior, SqlCommand cmdHandler, SqlDataReader dataStream, BulkCopySimpleResultSet bulkCopyHandler, TdsParserStateObject stateObj) +1838
   System.Data.SqlClient.SqlDataReader.ConsumeMetaData() +31
   System.Data.SqlClient.SqlDataReader.getMetaData() +62
   System.Data.SqlClient.SqlCommand.FinishExecuteReader(SqlDataReader ds, RunBehavior runBehavior, String resetOptionsString) +297
   System.Data.SqlClient.SqlCommand.RunExecuteReaderTds(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, Boolean async) +886
   System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method, DbAsyncResult result) +132
   System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method) +32
   System.Data.SqlClient.SqlCommand.ExecuteReader(CommandBehavior behavior, String method) +122
   System.Data.SqlClient.SqlCommand.ExecuteDbDataReader(CommandBehavior behavior) +12
   System.Data.Common.DbCommand.System.Data.IDbCommand.ExecuteReader() +9
   NHibernate.Impl.BatcherImpl.ExecuteReader(IDbCommand cmd) +112
   NHibernate.Loader.Loader.GetResultSet(IDbCommand st, RowSelection selection, ISessionImplementor session) +271
   NHibernate.Loader.Loader.DoQuery(ISessionImplementor session, QueryParameters queryParameters, Boolean returnProxies) +280
   NHibernate.Loader.Loader.DoQueryAndInitializeNonLazyCollections(ISessionImplementor session, QueryParameters queryParameters, Boolean returnProxies) +83
   NHibernate.Loader.Loader.DoList(ISessionImplementor session, QueryParameters queryParameters) +62

[ADOException: could not execute query[SQL: SELECT this.settingid as settingid340, this.settingname as settingn2340, this.settingcategory as settingc3340, this.settingvalue as settingv4340, this.settingdesc as settingd5340, this.tstamp as tstamp340_ FROM geminiappsettings this_ WHERE this.settingname = ?]]
   CounterSoft.Gemini.DataProvider.BaseProvider.xdd71a6c437ce97cd(Type x86c43ef36e14f2a3, Object[] xdbd7e0681bb13f72) +469
   CounterSoft.Gemini.DataProvider.BaseProvider.xc5a6238415274e6d(Type x86c43ef36e14f2a3, Object[] xdbd7e0681bb13f72) +14
   CounterSoft.Gemini.DataProvider.ApplicationSettingsProvider.x1a95834709519378(String x2335cd6458013014) +89
   CounterSoft.Gemini.Business.DatabaseApplicationSettings.Initialise() +1565
   CounterSoft.Gemini.Business.DatabaseApplicationSettings..ctor() +48
   CounterSoft.Gemini.Business.Initialiser..cctor() +20

[TypeInitializationException: The type initializer for 'Initialiser' threw an exception.]
   CounterSoft.Gemini.Business.DatabaseApplicationSettings.getGetInstance() +14
   CounterSoft.Gemini.Business.ApplicationSettingsFactory.GetAppSettings() +5
   CounterSoft.Gemini.Business.ApplicationSettings..cctor() +5

[TypeInitializationException: The type initializer for 'CounterSoft.Gemini.Business.ApplicationSettings' threw an exception.]
   CounterSoft.Gemini.Business.ApplicationSettings.getShowUserRegistrationLink() +0
   CounterSoft.Gemini.Default.PageLoad(Object sender, EventArgs e) +285
   System.Web.Util.CalliHelper.EventArgFunctionCaller(IntPtr fp, Object o, Object t, EventArgs e) +15
   System.Web.Util.CalliEventHandlerDelegateProxy.Callback(Object sender, EventArgs e) +34
   System.Web.UI.Control.OnLoad(EventArgs e) +99
   System.Web.UI.Control.LoadRecursive() +47
   System.Web.UI.Page.ProcessRequestMain(Boolean includeStagesBeforeAsyncPoint, Boolean includeStagesAfterAsyncPoint) +1061

PS I'm able to successfully connect to sql server from my machine and run the mentioned in error body command, so it's not likely to be an sql connection problem.