Picture not loading on URLRequest

I am creating a custom class called Image.
When called from a SWF it constructs the box and text as it is supposed to, but I also need to call an image into the object but that isn’t happening.

Here is the code for the class:
// START PACKAGE =========================================================================================
package {

    // START IMPORT CLASS PROPERTIES -----------------------------------------------------------------
        import flash.display.*;
        import flash.events.*;
        import flash.text.*;
        import flash.net.URLRequest;
        import flash.events.ProgressEvent;
        import flash.display.Loader;
        import flash.display.LoaderInfo;
        import flash.events.MouseEvent;
        import flash.events.Event;
        

    // END IMPORT CLASS PROPERTIES -------------------------------------------------------------------


    // START PUBLIC CLASS EXTENDS SPRITE **************************************************************
                public class Image extends Sprite {
                    
                    // BEGIN SETTING PRIVATE PROPERTIES ##############################
                            private var _label:String;
                            private var _myImage:String;
                            private var _fontName:String;
                            private var _fontSize:int;
                            private var _fontColor:uint;
                            private var _embedFonts:Boolean;
                            private var _bkgdColor:uint;
                            private var _width:Number;
                            private var _height:Number;
                    // END SETTING PRIVATE PROPERTIES ################################
            
                    // START PUBLIC FUNCTION CONSTRUCTOR **************************************************************
                            public function Image(
                                                label:String = "Click Here",
                                                myImage:String = "default.png",
                                                fontName:String = "Arial",
                                                fontSize:int = 14,    
                                                fontColor:uint = 0x000000,
                                                embedFonts:Boolean = false, 
                                                bkgdColor:uint = 0xFFCC00,
                                                width:Number = 150,
                                                height:Number = 30) {
                                // constructor code
                                
                                        // giving private variables a reusable public variable name
                                                                _label = label;
                                                                _myImage = myImage;
                                                                _fontName = fontName;
                                                                _fontSize = fontSize;
                                                                _fontColor = fontColor;
                                                                _embedFonts = embedFonts;
                                                                _bkgdColor = bkgdColor;
                                                                _width = width;
                                                                _height = height;
                                                                                                                                    
                                                                buttonMode = true;
                                                                mouseChildren = false;
                                                                
                                                                // this calls the below funtion whenever this class is called
                                                                draw();
                            }
                    // END PUBLIC FUNCTION CONSTRUCTOR ****************************************************************
    
                            
                        // BEGIN function called to draw the box for the background /////////////////////////////////
                            private function draw():void{
                                    
                                        //BEGIN first remove any existing elements, if any:::::::::::::::
                                            while(this.numChildren > 0) {
                                                this.removeChildAt(0);
                                                
                                            }
                                        //END first remove any existing elements, if any:::::::::::::::::
                                
                                        // START BOX/TEXT CREATION **********************************************************************************************
                                        // creates a new shape named 'bkgd' and gives it properties
                                            var bkgd:Shape = new Shape();
                                                    bkgd.graphics.beginFill(_bkgdColor);
                                                    bkgd.graphics.drawRect(0, 0, _width, _height);
                                                    bkgd.graphics. endFill();
                                                    addChild(bkgd);
                                                    
                                        // this is the TextFormat class 
                                            var tFormat:TextFormat = new TextFormat();
                                                    tFormat.font = _fontName;
                                                    tFormat.size = _fontSize;
                                                    tFormat.color = _fontColor;
                                                    
                                        // this is the TextField attributes
                                            var tField:TextField = new TextField;
                                                    tField.multiline = true;
                                                    tField.wordWrap = true;                        
                                                    tField.selectable = false;
                                                    tField.embedFonts = _embedFonts;
                                                    tField.defaultTextFormat = tFormat;
                                                    tField.autoSize = TextFieldAutoSize.CENTER;
                                                    tField.antiAliasType = AntiAliasType.ADVANCED;
                                                    tField.text = _label;
                                                    tField.x = _width / 2 - tField.width / 2;
                                                    tField.y = _height / 2 - tField.height / 2;
                                                    addChild(tField);    
                                                    
                                                    
                                        // END BOX/TEXT CREATION **********************************************************************************************
                                                    loadImage();
                                
                            }
                        // END function called to draw the box for the background ///////////////////////////////////
                        
                        // START LOAD IMAGE =======================================================================================================
                                                private function loadImage():void {
                                                                var imgRequest:URLRequest = new URLRequest(_myImage);
                                                                var imgLoader:Loader = new Loader();
                                                                imgLoader.contentLoaderInfo.addEventListener(Event.OPEN, imgLoaderOpen);
                                                                imgLoader.contentLoaderInfo.addEventListener(Event.COMPLETE, imgLoaderComplete);
                                                                this.addChild (imgLoader);
                                                                trace ("this is hard");
                                                            }
                                                            
                                                private function imgLoaderOpen(e:Event):void {
                                                                trace("imgLoader load started");
                                                            }
                                                            
                                                private function imgLoaderComplete(e:Event):void {
                                                                trace("imgLoader load completed");
                                                            }
                        // END LOAD IMAGE =========================================================================================================
                        
                        
                        // START SETTER FUNCTIONS *********************************************************************************************
                                // creating 'setter' functions that allow private variables in classes to be assigned new values at any time from the outside
                                // uses the 'set' keyword  to create a function that from outside the class can be treated like a property
                                    public function set label(value:String) :void{
                                            _label = value;
                                            draw();
                                        }
                                    public function set myImage(value:String) :void{
                                            _myImage = value;
                                            draw();
                                            //trace ("did this happen");
                                        }
                                    public function set fontName(value:String) :void{
                                            _fontName = value;
                                            draw();
                                        }
                                    public function set fontColor(value:int) :void{
                                            _fontColor = value;
                                            draw();
                                        }
                                    public function set fontSize(value:int) :void{
                                            _fontSize = value;
                                            draw();
                                        }
                                    public function set embedFonts(value:Boolean) :void{
                                            _embedFonts = value;
                                            draw();
                                        }
                                    public function set bkgdColor(value:int) :void{
                                            _bkgdColor = value;
                                            draw();
                                        }
                                        
                                    public override function set width(value:Number) :void{
                                            _width = value;
                                            draw();
                                        }
                                    public override function set height(value:Number) :void{
                                            _height = value;
                                            draw();
                                        }
                    // END SETTER FUNCTIONS *********************************************************************************************
                        
                    
                }
    // END PUBLIC CLASS EXTENDS SPRITE ****************************************************************

}
// END PACKAGE ============================================================================================

Here is the code inside of the FLA:

var btn1:Image = new Image();
btn1.label = “Weatherization Weatherization Weatherization”;
btn1.myImage = “w.png”;
btn1.fontColor = 0xFFFFFF; //white
btn1.width = 100;
btn1.height = 100;
btn1.fontSize = 11;
btn1.bkgdColor = 0xFF0000; // red
btn1.x = 200;

addChild (btn1);

I have the png file in the same folder as the FLA and class so the path should be correct. It is constructing the properties from the FLA correctly, except for the image (png), which is absent. It isn’t outputting any errors, but the output box spits out 8 of the trace (“this is hard”) from the loadImage (); function. I’ve included a zip file with everything I have. Thanks in advance for any help anyone could provide.