loadVars issue with textfile in a subfolder

[talytech]

I don't understand why my text isn't showing up in my dynamic text box.

I have a movieclip with a txt1 text box on it that will include HTML.

Here's the code I have to load the text file.

var R;
  //
  res=new LoadVars();
  res.load("textfiles/theband.txt");

  res.onData=function(info){
    if (info==undefined){
      R="Loading failed";
    }else{
       R=info;
    }
    txt1.htmlText=R;
  }

this code works when the textfile is in the same folder as the movie but when its in a folder it doesnt show up. Is there something wrong with my syntax? Can someone explain this?