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I have vm installed on I have downloaded the iso. When I run the server and select the iso file I get the error message;

Failed to open the optical disk file C:\Users\Owner\VirtualBox VMs\Server4\ubuntu-12.04.3-server-i386.iso.

Could not get the storage format of the medium 'C:\Users\Owner\VirtualBox VMs\Server4\ubuntu-12.04.3-server-i386.iso' (VERR_NOT_SUPPORTED).

Result Code: VBOX_E_IPRT_ERROR (0x80BB0005)
Component: Medium
Interface: IMedium {05f2bbb6-a3a6-4fb9-9b49-6d0dda7142ac}
Callee: IVirtualBox {fafa4e17-1ee2-4905-a10e-fe7c18bf5554}
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did u rmember run these services before mounting the drive

start service portmap

start servce nfs

Here is a process that explains how to create a paravirtualized Ubuntu guest under Xen:

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