Problem with app that works only from within Delphi...(and Win 95)

I have encountered a rather odd problem using Delphi 1.0.

I have an app with:

DBF files for the data
bunch of standard controls (dbedit, tlist, tgrid, etc.)
Formula1 and First Impression VBX's


Now, here's the strange part:

I make a few function calls to the Formula1 DLL which work just fine, thank you very much, under Windows 95 OR when run from within Delphi (under Win 3.1). When running under Windows 3.1 alone, the app will not run at all - Windows reports the generic message "Cannot find file (or one of its components)etc."

Now, if I comment out any function calls to this DLL, everything works again.

What's so damned confusing is the fact that the app will run under Win 95 and from within Delphi...also, to add to the confusion, the same app used to work fine under Windows 3.1 before a few minor changes were made (nothing of consequence - a few label changes...).

Every DLL and VBX the app could possibly want is available to it (in the app's directory, in C:\WINDOWS\SYSTEM and also elsewhere in the search path).

Does anybody have any idea what could be the problem here? I might be able to find a workaround (might) but it seems to me that this is a symptom of a potentially dangerous problem...

Thanx in advance,