This is a Photoshop CS3 Error that I encountered after opening a PNG file that is suppose to be a readable format by Photoshop. This “could not complete your request because the file-format module cannot parse the file” error pops up after I opened the file. The only solution that I can think of to open the file is open it to another editor, like Microsoft Picture Viewer. Save it as PNG again, then open it again in Photoshop and it works just fine.
Another solution is, you can open it in Microsoft Picture Viewer or a Browser(Firefox or IE). Then, press print screen. After pressing print screen, go to photoshop. Create a new project, then CTRL+V (To paste what you have copied). Then that’s it, you have the file opened in Photoshop CS3.