Android app not compiling

Hi, I am trying to build and and compile a simple Hello World app on Titanium. Titanium SDK: 2.1.4 GA Titanium Studio: 3.2.1 .But its not compiling and throws following errors:

[ERROR] Exception occured while building Android project:
[ERROR] Traceback (most recent call last):
[ERROR]   File "/Users/Richard/Library/Application Support/Titanium/mobilesdk/osx/3.1.0.GA/android/builder.py", line 2528, in <module>
[ERROR]     builder.build_and_run(False, avd_id, debugger_host=debugger_host, profiler_host=profiler_host)
[ERROR]   File "/Users/Richard/Library/Application Support/Titanium/mobilesdk/osx/3.1.0.GA/android/builder.py", line 2193, in build_and_run
[ERROR]     self.copy_project_resources()
[ERROR]   File "/Users/Richard/Library/Application Support/Titanium/mobilesdk/osx/3.1.0.GA/android/builder.py", line 832, in copy_project_resources
[ERROR]     self.project_deltafy = Deltafy(resources_dir, include_callback=self.include_path)
[ERROR]   File "/Users/Richard/Library/Application Support/Titanium/mobilesdk/osx/3.1.0.GA/android/deltafy.py", line 108, in __init__
[ERROR]     self.conn.execute('create table if not exists timestamps (path text, modified timestamp)')
[ERROR] DatabaseError: database disk image is malformed
[ERROR] :  Build process exited with code 1
[ERROR] :  Project failed to build after 1s 707ms