Problem with Alpha on PNG

Hello

I’m having a strange issue where an PNG image sequence that has an alpha channel will not be recognized by C4d.  C4d sees the file, but does not pickup the alpha channel…
Here is a frame from the sequence.
https://www.dropbox.com/s/8s3gq72r8ntgoqr/MainScreen_TearingToBlack_v2_2_00232.png?dl=0
What could be the issue?

Thanks!