HELP! I can't get parallels to even open the program!!!

I followed the instructions in the user manual and installed the Parallels 3.0 for my new imac, but for some reason when I tried to open the program, it just says,

"The application Parallels Desktop quit unexpectedly; Mac OSX and other applications are not affected. Click Relaunch to launch the application again. Click report to see more details or send a report to Apple."

I tried clicking relaunch several times but it won't work!!
Does anyone know what went wrong or have any suggestions?

 

Error is not informative try to check crash logs
* Archive of /Library/Parallels/bugreports/
or ~/Library/Parallels/bugreports/

* /Library/Logs/panic.log
or ~/Library/Logs/CrashReporter/Parallels.crash.log from the Mac side;