In case you don't know, that error code means " Insufficient location information or the device or resource is not present in the system.". You are probably specifying the wrong serial port or you really don't have a serial port at all. Open MAX (Measurement & Automation Explorer) and see what is listed under Devices & Interfaces. You can also use Windows Device Manager to see what com ports there are and what the names of them are. Also, as I mentioned, you did not post the global that contains the port number that the VI is using. Open the global and read it or probe the input to your serial write or read and determine what the port number actually is.
p.s. Attaching a VI with even more missing subVIs doesn't help. You have to understand something really basic about LabVIEW. A VI is a separate file on the disk. Each subVI is also a separate file. When you attach a single VI to this forum, all that does is attach that single file and does not include any subVIs that you have written. In order to attach a VI in the correct manner when it uses subVIs (not builti-in LabVIEW functions), is to create an application distribution. In your version of LabVIEW, that is done by going to the file menu and selecting Save With Options and selecting Development Distribution. This will create an llb (LabVIEW library) file. You attach the llb.