Alpha images blend with the background, by default. If you have a red background, put a 50% transparent green background onto it, you end up with a faded yellow background.
If you want to maintain that 50% transparent green, and completely overwrite the red with it, use _DONTBLEND. (Much like you’re doing with the MEM commands.)
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Personally, since _DONTBLEND runs much faster than when blending is turned on by default, and since a lot of folks never use alpha images, I’ve always felt that it should be our default setting — but it’s not. QB64 automatically tries to blend all images onto the original canvas, unless _DONTBLEND is invoked manually.