Could not set interface mon.wlan0 flags: No such file or directory

[user]

I have read my W311M dongle supports WAP by using hostapd:
https://help.ubuntu.com/community/WifiDocs/Device/Tenda_W311M

I have loaded module rt2800usb by applying this script:
#!/bin/sh
modprobe rt2800usb
echo 148F 5370 > /sys/bus/usb/drivers/rt2800usb/new_id

After that I get wlan0 interface:
$ iwconfig
lo        no wireless extensions.

eth0      no wireless extensions.

wlan0     IEEE 802.11bgn  Mode:Master  Tx-Power=0 dBm
          Retry  long limit:7   RTS thr:off   Fragment thr:off
          Power Management:on

Then I have compiled (0.7.3) it and tried to run according to this 
manual:
http://linuxwireless.org/en/users/Documentation/hostapd

I stuck into this error:

$ sudo ./hostapd ~/hostapd-minimal.conf
Configuration file: /home/user/hostapd-minimal.conf
Could not set interface mon.wlan0 flags: No such file or directory
nl80211: Failed to set interface wlan0 into AP mode
nl80211 driver initialization failed.
ELOOP: remaining socket: sock=4 eloop_data=0xb670d0 user_data=0xb67790
handler=0x42b750
ELOOP: remaining socket: sock=6 eloop_data=0xb69cb0 user_data=(nil)
handler=0x434460

The content of hostapd-minimal.conf is:
#change wlan0 to your wireless device
interface=wlan0
driver=nl80211
ssid=test
channel=1

Ubuntu 10.04 kernel 3.0.0-15-generic #26~lucid1-Ubuntu SMP Wed Jan 25 
15:37:10 UTC 2012 x86_64 GNU/Linux