From ram to vram

Here's one for the VRAM gurus....

What happens in this scenario? (Using pseudo syntax)

global Myimage.TImage

For x=1 to 1000
cls
MyImage.Load "filename"+x+".jpg"
MYImage.Draw
Flip
next x

Has 1000 textures been created by the GPU or is only one being used and reused each frame update?