Download ZIP file from ThemeForest and find in it hypershot.zip(theme file)
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It seems you are uploading whole package that you have from Themeforest, not only theme. But it must be only theme :-)
Please follow this carefully http://apollo13.eu/docs/hypershot/#!/installation_update_update_theme
With regards.
I could only see one download for hypershot, what file should I be using?