Error: Access is denied. LiteSpeed could not open the Backup file during Extractor utility (4270241)

The extraction utility is being used to extract a Litespeed backup from tape and the below error is returned:
Access is denied.
LiteSpeed could not open the Backup file: (X:\MSSQL.1\MSSQL\Backup). The previous system message is the reason for the failure.

WORKAROUND:
1. Verify that thecorrect arguments are being used in the command syntax.

2. Verifyyour login credentials have thecorrect permissions to the location of the backup file and folder containing the Extractor.exe

An example of a Command Systax shown below:
D:\Program Files\Imceda\LiteSpeed\SQL Server>Extractor.exe -jx:\admin\prod\etc\opt\xxxxx.opt -ixxxxx\xxxxx\BACKUP_file -FX:\MSSQL\Backup

In the above syntax, a wrong argument has been specified. -F which specifies the name of the LiteSpeed backup device file to be extracted was specified instead of -E base_file_name which Specify the location and name of the Microsoft Tape Format (MSTF) base file as it was being extracted from tape.