Create a working usplash theme for ubuntu 7.04

I am needing some help in getting a usplash theme to work on an ubuntu 7.04 system. I have the graphic (a simple png file) and would like it to be combined with a progress bar and build into an .so file. Further, I need it to work - I've labored at this for some time and I'm missing what I believe to be color palette settings or some such thing. I'm assuming that with a properly created .so file I will be able to install the theme but in the event I'm having problems beyond that level I will also need some assistance in that regard (but I doubt it).