[ERROR] Missing required option "--username"

While creating new mobile project using Titanium Studio, build: 3.1.2.201308091617, returns the following error [ERROR] Missing required option "--username"

Prior to creating, I have downloaded as per insturctions registerd with appcelertor titanium, downloaded the studio exe and installed on Windows 7 m/c. Prior to login into the titanium sudio IDE, configured the proxy settings shown in the login window and used titanium credentiails (username and pwd) to login.

Please advise on this issue at the earliest

Thank you!