[flexcoders] ModuleLoader does not load module when instance is created as ModuleLoader()

[ilikeflex]

Hi 

I am trying to load module as show below. I am using 

panel.addChild(mod2.child);

but i never see module loaded in the panel.
It is very simple app.I do not know why the module is not being 
loaded . 

Any pointer is highly appreciated.

I have been putting my head for last 4 hours.

Thanks
ilikeflex

<?xml version="1.0" encoding="utf-8"?>
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml"; 
layout="absolute">
        <mx:Script>
                <![CDATA[
            import mx.events.ModuleEvent;
            import mx.modules.ModuleLoader;
            import mx.events.ItemClickEvent;
            public var mod2:ModuleLoader = new ModuleLoader();
            public function onNavBarClicked(event:ItemClickEvent):void
            {
                                trace("function executed");
                var item:Object = event.item;
                mod2.url = String(item.module);
                mod2.loadModule();
                mod2.percentWidth = 100;
                mod2.percentHeight = 100;
                mod2.addEventListener("ready", onReady);
            }
            
            public function onReady(event:ModuleEvent):void
            {
                panel.addChild(mod2.child);
            }
                ]]>
        </mx:Script>
        <mx:Array id="arr">
            <mx:Object label="Select Coverage"/>        
            <mx:Object 
                label="Life Insurance" 
                module="insurancemodules/LifeInsurance.swf"
            />
            <mx:Object 
                label="Auto Insurance" 
                module="insurancemodules/AutoInsurance.swf"
            />          
            <mx:Object 
                label="Home Insurance" 
                module="insurancemodules/HomeInsurance.swf"
            />
        </mx:Array>
        
    <mx:LinkBar itemClick="onNavBarClicked(event)" 
dataProvider="{arr}" />
    <mx:Panel width="100%" height="100%" top="50" id="panel" 
title="MainPanel"/>
</mx:Application>