HURRAH, It might be a temporary solution, but I figured it out.
I copied all the *.dll files in the this directory C:\Qt\Qt5.0.1\5.0.1\msvc2010\bin and paste it in the same folder with my *.exe file and it worked.
The next step is to remove one file at a time and run the *.exe after every remove till I figure which files exactly the app needs.

@wysota Thank you very very very very very and very much for being patient with me