recovering old iMovie files
I have a bunch of movie files and projects created in an old version of iMovie that version 10 does not recognise. I have tried the "update projects and events" option but I get the message "iMovie could not find any projects or events to update". I can see all of the files in finder but when I click on the individual clips I get the message "This file contains some media that isn’t compatible with QuickTime Player."
Any suggestions as to how I can get all of these back into I movie and open them again would be very gratefully received. Thanks in advance.