Hello,
Welcome to the forums. I am running the same MySQL and PHP versions and it all goes fine. Please try to install the script once more from scratch = remove all the files from the server, download latest bosscart from Boss Cart download area and upload the script to your server + (important) re-set your database before running the install script.
If you still have problems please let us know.
Regards,
Piotrek
P.S. No need to shout about, we hear you.
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