No idea what the error means, but I do see some problems in your command.
First, that should be "./execute", assuming the binary is called "execute" and is located in your current directory. "./ execute" (with a space) means something very different.
Second, you're using "/*.asc". That's equivalent to writing "C:\*.asc". Unless these asc files are actually located in the root of the filesystem, it won't work. You need to decide whether you want to use the absolute path or the relative path to the files.
Lastly, most programs can't accept multiple files as input when they use a flag such as "-i". Remember, the shell expands the globbing pattern BEFORE the program ever sees it. So your command becomes:
./execute -i file1.asc file2.asc file3.asc ...
Unless "execute" is built to accept EVERYTHING after -i as input files (in which case, where does it stop?), which is doubtful, it will break. Instead you would need to loop through the files, and run "execute" on each one individually. Since you haven't told us WHAT "execute" even is or how to use it, I can't provide any further information on that.