16 bit program

[squareD]

That's what Exeinfo said...

Not Windows PE ->  Sign.  : NE <- ( 16 bit ) Windows or OS/2

So looks like old Win 3.1 program.
I only should deactivate the 10m demonstration time and that' done!

Should have looked into Exeinfo before, because also said...

Try another exe or use Hiew.exe tool for view structure

Instead of W32dasm I could use Hiew, but didn't thought about it, because I use Hiew very rarely.