This project contained a sequence that could not be opened. No sequence preview preset file or codec

I recently bought a macbook after editing on a pc for a while. Now, whenever I try to open a premiere pro project created on my pc on my mac, I get the error, "This project contained a sequence that could not be opened. No sequence preview preset file or codec could be associated with this sequence type". Not sure how to figure this out. I want to be able to edit back and forth between my pc and mac. Please help!