This wouldn`t work in the way you have posted it (at least the part of recreating the image). See this:
Public Function ImageConversion(ByVal image As System.Drawing.Image) As String
If image Is Nothing Then Return ""
Dim memoryStream As System.IO.MemoryStream = New System.IO.MemoryStream
image.Save(memoryStream, System.Drawing.Imaging.ImageFormat.Gif)
Dim value As String = ""
Dim content As Byte() = memoryStream.ToArray()
' instead of repeatingly call memoryStream.ToArray by using
' memoryStream.ToArray(intCnt)
For intCnt As Integer = 0 To content.Length - 1
value = value & content(intCnt) & " "
Next
value = value.TrimEnd()
Return value
End Function
To recreate the image using the created string you can`t use Encoding.GetBytes() like you did, because you would get a bytearray which represents your string. E.g "123 32 123" you would not get a byte array with the elements 123, 32 , 123
Public Function ImageConversion(ByVal stringRepOfImage As String) As System.Drawing.Image
Dim stringBytes As String() = stringRepOfImage.Split(New String() {" "}, StringSplitOptions.RemoveEmptyEntries)
Dim bytes As New List(Of Byte)
For intCount = 0 To stringBytes.Length - 1
Dim b As Byte
If Byte.TryParse(stringBytes(intCount), b) Then
bytes.Add(b)
Else
Throw new FormatException("Not a byte value")
End If
Next
Dim ms As New System.IO.MemoryStream(bytes.ToArray)
Return Image.FromStream(ms)
End Function
Reference: Byte.TryParse