Hi,
Possibly you have a corrupted web.config file or made an error editing it.
Also it looks like you are trying to run mojoportal 2 levels deep like http://localhost:80/hsps/hsps/Setup/Default.aspx
Its designed to run either as a root web site or as an application 1 folder deep not 2 folders deep.
So the url should be http://localhost:80/ or http://localhost:80/hsps/ but not http://localhost:80/hsps/hsps/
Hope it helps,
Joe