The code should look like this:
#!/usr/local/bin/php -f
<?php
$im = imagecreatefrompng("image.png");
$black = imagecolorallocate($im,0,0,0); 
$w = imagesx($im); // image width
$h = imagesy($im); // image height
for($x = 0; $x < $w; $x++) {
   for($y = 0; $y < $h; $y++) {
      // Get the colour of this pixel
      $rgb = imagecolorat($im, $x, $y);
      $r = ($rgb >> 16) & 0xFF;
      if($r>=50)continue;         // Don't bother calculating rest if over threshold
      $g = ($rgb >> 8) & 0xFF;
      if($g>=50)continue;         // Don't bother calculating rest if over threshold
      $b = $rgb & 0xFF;
      if($b>=50)continue;         // Don't bother calculating rest if over threshold
      // Change this pixel to black
      imagesetpixel($im,$x,$y,$black);
   }
}
imagepng($im,"result.png");
?>
I hope this helps you.