We are getting this error when attempting to create a NEW project in ALM11.

What is going on?

Messages:
Failed to Create Project;
Failed to create HP ALM project;
Failed to create project ‘MyNewProject’; Failed to create new project ‘MyNewProject’; Maintenance task EnableExtensionsTask failed;
ALM-E10011: Actual upgrade failed com.mercury.td.saserver.maintenance.PopulateNewTables;
Error in writing to table CYCLE;
Failed to set params in the parametrized query; [Mercury][SQLServer JDBC Driver]Invalid parameter binding(s).;

Stack Trace:
java.sql.SQLException: [Mercury][SQLServer JDBC Driver]Invalid parameter binding(s).
at com.mercury.jdbc.sqlserverbase.dda4.b(Unknown Source) at com.mercury.jdbc.sqlserverbase.dda4.a(Unknown Source) at com.mercury.jdbc.sqlserverbase.dda3.b(Unknown Source) at com.mercury.jdbc.sqlserverbase.dda3.a(Unknown Source) at com.mercury.jdbc.sqlserverbase.ddb8.a(Unknown Source) at com.mercury.jdbc.sqlserverbase.ddb9.setString(Unknown Source) at com.mercury.optane.core.db.CTdPreparedStatement.setString(CTdPreparedStatement.java:253)
at com.mercury.optane.core.db.CTdPreparedStatement.privateSetParam(CTdPreparedStatement.java:678)
at com.mercury.optane.core.db.CTdPreparedStatement.setParams(CTdPreparedStatement.java:860)
wrapped in com.mercury.optane.core.CTdException: Failed to set params in the parametrized query at com.mercury.optane.core.db.CTdPreparedStatement.setParams(CTdPreparedStatement.java:868)
at com.mercury.optane.core.db.convertor.CDBWriter.writeData(CDBWriter.java:476)
wrapped in com.mercury.optane.core.CTdException: Error in writing to table CYCLE at com.mercury.optane.core.db.convertor.CDBWriter.writeData(CDBWriter.java:562)
at com.mercury.optane.core.db.convertor.CDBConvertor.copyTableData(CDBConvertor.java:764)
at com.mercury.td.saserver.maintenance.PopulateNewTables.run(PopulateNewTables.java:59)
at com.mercury.td.saserver.maintenance.BaseFlowStep.start(BaseFlowStep.java:61)