resize image and draw text

How can I resize an image and draw text onto it? I have my image inside a picture box.

To resize an Image you will have to use a Graphics object. Same to draw a string.
' create destination image the right size
Dim dest As New Bitmap(50, 50)
' load into graphics object
Dim g As Graphics = Graphics.FromImage(dest)
' draw out image rescaled
g.DrawImage(picBox1.Image, New Rectangle(0, 0, dest.Width, dest.Height), New Rectangle(0, 0, picBox1.Image.Width, picBox1.Image.Height), GraphicsUnit.Pixel)
' then use draw string to draw a string
g.DrawString(...)

Private Sub btnConvert_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles btnConvert.Click
' create destination image the right size
Dim dest As New Bitmap(10, 10)
' load into graphics object
Dim g As Graphics = Graphics.FromImage(dest)
' draw out image rescaled
g.DrawImage(Pic.Image, New Rectangle(0, 0, dest.Width, dest.Height), New Rectangle(0, 0, Pic.Image.Width, Pic.Image.Height), GraphicsUnit.Pixel)
End Sub


where does it draw the new image at? it doesn't resize the image from pic into pic.

Of course it doesn't alter the PictureBoxes image. The Graphics object draws to the Bitmap which it is created from (assuming your using the FromImage method, which in this case we are). If you wish to put the image back in the PictureBox you will have to set the Image property to the bitmap you drew to, which using the code I provided is dest.