Private Sub Form1_Load(ByVal sender As System.Object, ByVal e As _
      System.EventArgs) Handles MyBase.Load
        Label1.BackColor = Color.Transparent
        Dim p As Point = Label1.PointToScreen(Label1.Location)
        Label1.Parent = PictureBox1
        Label1.Location = Label1.PointToClient(p)
    End Sub