I feel your pain and frustration!!!
I have been having the same issue with this poorly made software.
They don't even support it anymore (or so it seems)!
I have moved on to better software!!!
I use VisualHub. It costs less than half of popcorn and does more.
The developer will respond (personally ) to all e-mails......
If you have an elgato .264 you might want to look into Roadmovie.....
Good luck on getting your money back (EBay)
The sooner you walk away from this crap the better you will feel!!!!