Okay, most probably you have another bass.dll in your system directory that is different from the one used by the game. It uses the system one instead of the game one and runs aground. Probably because of some codecs/drivers you have on your system.

The simplest thing to do is to go to your system directory (on a 64-bit system it's C:/Windows/SysWOW64 and on a 32-bit system it's C:/Windows/System) and look for the bass.dll file there. If it is present, try moving it out of the directory (to your desktop for example - don't delete the file, it may be used by something else) and running the game.

If the game works, then observe the system for any erratic behaviour, because dll's aren't placed in the system directory just for laughs, it's probable that something may try to access it sooner or later. If so, just move the dll file back into the system folder.