The problem is this:
Just because you gave a filename a .xlsm extension doesn't MAKE it a .xlsm file!
 
You could just as easily used:
& ".docx"
 
and it would not make it a Word document.
 
Probably Windows is giving you the "corrupt document" message because it's 
trying to open a file that SAYS it's a .xlsm file, but doesn't LOOK like a 
.xlsm file.
 
When using ActiveWorkbook.SaveAs,
you can use: 
FileFormat:= xlOpenXMLWorkbookMacroEnabled
 
but SaveCopyAs does not allow this option.
 
The way I've handled this in the past is:
Save the current file,
use SaveAs to save as a different filetype.
Open the original file
close the "New" file.

Paul
-----------------------------------------
“Do all the good you can,
By all the means you can,
In all the ways you can,
In all the places you can,
At all the times you can,
To all the people you can,
As long as ever you can.” - John Wesley
-----------------------------------------

 From: "rjagai...@aim.com" <rjagai...@aim.com>
>To: excel-macros@googlegroups.com 
>Sent: Saturday, August 23, 2014 1:35 PM
>Subject: $$Excel-Macros$$ Create macro to save macro template as macro enabled 
>workbook using cell value as file name
>  
>
>
>Create macro to save macro template as macro enabled workbook using cell value 
>as file name
>
>
>This is  what I'm trying to do. Save the Macro Template on  a network drive as 
>a Macro Excel file using a 
cell value as the  file name.
>I got this working but now when I try to open the file it saved the 
error message is:    file is corrupt or format not recognized.
>What up wid dat ? 
>
>
>Sub Save_Me()
>'
>' Save Me Macro
>'
>
>'
>ActiveWorkbook.SaveCopyAs Filename:="F:\GP SAVED BY RICH\" & Range("E5").Value 
>& ".xlsm"
>End Sub
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Are you =EXP(E:RT) or =NOT(EXP(E:RT)) in Excel? And do you wanna be? It’s 
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