<?php

$newim = imagecreatefrompng('2007-03-01.png');
$watermark_image = '3%_watermark.png';

/* his */

$watermark = imagecreatefrompng($watermark_image);

imagealphablending($watermark, false);
imagesavealpha($watermark, true);

$watermark_width = imagesx($watermark);
$watermark_height = imagesy($watermark);

// Position Overlay in Bottom Right
$dest_x = 0;//imagesx($newim) - $watermark_width;
$dest_y = 0;//imagesy($newim) - $watermark_height;

imagecopy($newim, $watermark, $dest_x, $dest_y, 0, 0, $watermark_width, $watermark_height);
//imagecopymerge($newim, $watermark, $dest_x, $dest_y, 0, 0, $watermark_width, $watermark_height, 10);
imagedestroy($watermark);

/* /his */

header('Content-Type: image/png');
imagepng($newim);

?>