Cannot Open Shared Virtual Machine From New User Account

I had a user who was using this particular computer with a virtual machine which I installed as a Shared VM. I need to reapportion the machine to be a general use machine. I have created a new user account with administrative privileges, and tried to open Parallels 4.0 within the new user account, but it is not allowing me to, saying that the image file is invalid. I can open it up in the previous user's account. The file size in Finder shows up as zero (0) bytes. How do I remedy this?