Have you 'migrated' or 'moved' Photoshop from an older computer into this Mac using Time Machine or Migration Assistant?
Error 150:30 usually means license has stopped working.
This may be helpful for you: http://helpx.adobe.com/x-productkb/global/error-licensing-stopped-mac-os.html
Message was edited by: Sudarshan Thiagarajan to add URL
Thank you for replying. Yes, I did. I will try the link-Thanks again!
No, not at all.
You have to 'de-activate' your license on the old computer. This link should help you with that: http://helpx.adobe.com/x-productkb/policy-pricing/activation-deactivation-products.html#ma in_Deactivate_your_software
Then, try activating it on your new computer.
If you dont have access to your old computer, follow the steps outlined here to do an 'offline deactivation' - http://helpx.adobe.com/x-productkb/policy-pricing/activation-deactivation-products.html#ma in__Computer_reconfiguration_or_replacement
If you need further assistance from us, please feel free to ask!
All the best,
I'm moving this question to the Download, Install & Setup Help forum for specialized attention to your situation.
Whispertia if you continue to face difficulties please try removing the software using the uninstallers in Applications/Utilities/Adobe Installers. Once the software is removed you will want to follow this by using the Cleaner Tool.
You can find details on how to obtain and use the Cleaner Tool at CS Cleaner Tool for installation problems | CCM, CS6, CS5.5, CS5, CS4, CS3 - http://helpx.adobe.com/creative-suite/kb/cs5-cleaner-tool-installation-problems.html.
Once both steps are completed you will then want to reinstall the software from your installation media.