How to Create Model Container Object

I asked this question a while back but no one was a able to tackle it. So I did some more testing and determined it is in my code that the problem exists. So my question is, what am I doing wrong?

So I create the model container:

Private mdbContext As PFModelContainer
Private mdbTransactions As Object

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Before I did it this way:

Private mdbContext As New PFModelContainer
Private mdbTransactions As mdbContext.Transactions

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Thinking maybe I was doing something wrong I changed it over to the first way, then I do:

Public Sub New()
  mdbContext = New PFModelContainer
  mdbTransactions = mdbContext.Transactions
End Sub

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Once I hit

mdbContext = New PFModelContainer

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it takes me over to the

PFModel.Designer.vb

Where it steps through the following:

Public Sub New()
  MyBase.New("name=PFModelContainer", "PFModelContainer")

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At which point it terminates execution of the code. Am I doing something wrong here?

This is the error it gives me on the Immediate window:

   

A first chance exception of type 'System.ArgumentException' occurred in System.Data.Entity.dll

Is there something I can do to make this error go away? I tried deleting the project and recreating it with my old .edmx model that I downloaded from Mozy from when it used to work. It stopped working (as far as I can tell) after I changed the .edmx model and updated it. Maybe I did something else in the other project too, but I'm not recalling anything.