Cannot display image sent on SMTP

Outlook.Application app = new Outlook.Application();

            Outlook.MailItem item = (Outlook.MailItem)app.CreateItemFromTemplate(@"C:\Users\orculloj\Desktop\Sample2\tEST.msg", Type.Missing);

            string body = item.HTMLBody;

            string imgSrc = @"~\images\logo.png";
            string res = "";
            string bdy = "";
            string cid = "";

            var contentID = "logo";
            var inlineLogo = new Attachment(@"C:\Users\orculloj\Documents\Visual Studio 2013\Projects\WebApplication3\WebApplication3\images\logo.png");
            inlineLogo.ContentId = contentID;
            inlineLogo.ContentDisposition.Inline = true;
            inlineLogo.ContentDisposition.DispositionType = DispositionTypeNames.Inline;


            Match srcMatch = Regex.Match(item.HTMLBody, @"src=[""](?<url>[^""]+)[""]", RegexOptions.IgnoreCase);

            if (srcMatch.Success)
            {
                int srcIndex = srcMatch.ToString().IndexOf(srcMatch.ToString());
                if (srcIndex != -1)
                {
                    Match cidMatch = Regex.Match(srcMatch.ToString(), @"[""](?<url>[^""]+)[""]", RegexOptions.IgnoreCase);

                    if (cidMatch.Success)
                    {
                        int cidIndex = cidMatch.ToString().IndexOf(cidMatch.ToString());
                        if (cidIndex != -1)
                        {
                            string cd = @"""cid:" + contentID +"\"";
                            res = item.HTMLBody.Replace(cidMatch.ToString(), cd);
                            //bdy = string.Format(res, inlineLogo.ContentId);
                        }
                    }

                    //cid = res;
                }
            }

            MailMessage m = new MailMessage();

            // Address and send the message
            m.From = new MailAddress("DEV_MNL@altisource.com", "DEV_MNL");
            m.To.Add(new MailAddress("JohnEmmanuel.Orcullo@altisource.com", "Orcullo, John Emmanuel C"));
            m.Subject = "This is a test email";
            m.IsBodyHtml = true;
            m.Body = res;
            SmtpClient client = new SmtpClient("Internal-Mail.ascorp.com");
            client.Send(m);</url></url>