is that the full size of it?
whet I mean is the image, the full size compared to the grey around it?
I would first enlarge the image to take up as much space as possible, then I would change the font, for your "sloppy terminators 242nd"
I highly doubt that will be able to be read at all.
I use GIMP....but I believe the color for transparency is 176,176,176.