A compatible ActiveX component is one that you specify as a compatible ActiveX component. This error has the following cause and solution:
Only .exe files and DLLs created by Visual Basic are valid entries in the Compatible ActiveX Component field of the Project Properties dialog box accessed through the Project menu. If possible, load the project into Visual Basic and choose the Make Project.exe File command from the File menu to create a Visual Basic executable file. If the file is already an executable file that wasn't created by Visual Basic, or if the file can't be loaded into Visual Basic, consult the documentation of the file to find out if it can be converted to a Visual Basic executable file or if the vendor can supply an executable file created by Visual Basic.
For additional information, select the item in question and press F1 (in Windows) or HELP (on the Macintosh).