Getting an error trying to set up shared folders on an Ubuntu instance of VMWare Fusion running on OSX

Receiving the following error: Unable to update runtime folder sharing status: There was an error mounting Shared Folders file system inside the guest operating system. Running VMWare Fusion 5.0.2 on OS X 10.6.8, guest OS is Ubuntu 12.10 with VMware Tools installed. Have been unable to get to /mnt/hgfs at all, /mnt/ directory is blank. … Read more