Circle Preloader + Movieclip Loader Class =?

I am trying to make a circle preloader, so i need to convert it to be frame based. Can one help me understand why this is not working?

Check it out:
Zip with Fla:

function loadExtMov(movieName, targetMovie, transEnabled:Boolean) {
	var mcListener:Object = new Object();
	mcListener.onLoadProgress = function(target_mc:MovieClip, bytesLoaded:Number, bytesTotal:Number) {
		status_txt.text = Math.round((bytesLoaded/bytesTotal)*100);
		// Radius Preloader 
		frame = int(bytesLoaded/bytesTotal/100);
		tellTarget (progress_mc) {
	var image_mc:MovieClipLoader = new MovieClipLoader();
	image_mc.loadClip(movieName, targetMovie);
loadExtMov("1.jpg", container_mc);