is passed as
And the mxml can't find that file because it is not in full path format.
In short..No, You can't hardcode a full local path like
Your image must reside together with your swf file.
var ul:URLRequest = new URLRequest("image.jpg"); // or "imagefolder/image.jpg") etc...
var ld:Loader = new Loader();
You can also use flash's fileReference to access local content. (Browse).
or simply import the images...Not what you want, i know