Symptoms
K2 blackpearl service not starting.
Diagnoses
If you are in a development environment and have development license then run K2 in console mode. "K2 blackpearl Development Servers may not run as a Windows Service and can only be operated in console mode." according to http://help.k2.com/onlinehelp/k2blackpearl/userguide/4.6.11/webframe.html#k2_license_types.html
Kindly have a look at this to run k2 in console mode:
http://help.k2.com/displaycontent.aspx?id=6236
Resolution
K2 blackpearl Development Servers may not run as a Windows Service and can only be operated in console mode