[flexcoders] Error in Image path reference. text=Error #2035: URL Not Found.

[gavinscott523]

Can anyone explain why I cannot reference this image in my code? I 
have changed it from "../../assets/image1.jpg" 
to "../assets/image1.jpg" to just plain "assets/image1.jpg". None of 
them work. The assests folder sits on the root. I feel stupid asking 
this question because I cannot find any one else in the forum getting 
this error. Thanks in advance for any help.

<?xml version="1.0" encoding="utf-8"?>
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml"; 
layout="absolute">
        <mx:HBox xmlns:mx="http://www.adobe.com/2006/mxml"; 
width="300" creationComplete="createFill()" height="400" 
cornerRadius="20">
                <mx:Script>
                        <![CDATA[

                                import flash.net.URLRequest;
                                private var loader:Loader;
                                private function createFill():void
                                {
                                        loader = new Loader();
                                
        loader.contentLoaderInfo.addEventListener
(Event.COMPLETE,completeLoad);
                                        loader.load(new URLRequest
("../assets/image1.jpg"));
                                }
                                private function completeLoad
(event:Event):void
                                {
                                        var bm:BitmapData = new 
BitmapData(loader.width, loader.height, true, 0x000000);
                                        bm.draw(this.loader);
                                        var m:Matrix = new Matrix();
                                        m.createBox
(this.width/loader.width, this.height/loader.height);
                                        this.graphics.beginBitmapFill
(bm, m, true, true);
                                
        this.graphics.drawRoundRectComplex(0, 0, this.width, 
this.height, 20, 20, 20, 20);
                                        this.graphics.endFill();
                                        
                                }

                        ]]>
                </mx:Script>
        </mx:HBox>
</mx:Application>