The recipe for Cutler's resin I have is:
5 parts pitch
1 part Beeswax
1 part filler (I use finely-ground charcoal).
I've made this with raw pitch that I melted and strained through a piece of T-shirt to remove the particulates. I mixed by weight using a scale. The components were added to a can and melted over low heat, stirred to incorporate (the charcoal wants to sink to the bottom), then poured into a ramekin lined with aluminium foil, allowed to cool and removed from the foil. To use, I heat the disk with a torch or heat-gun and apply. It helps if the material to which it is applied is warmed and appears to stick better.
The resulting material is a black-colored and rather hard. It melts and sticks well, fills voids and appears to be far more flexible than pitch, though could still be fractured if struck with a hammer.
I also have rosin that I made by dissolving the pitch in rubbing alcohol, straining, then simmering to remove the alcohol. This seems to yield material from which the "stickyness" of raw pitch has been removed, though you can feel some "hesitation" when rubbed between the fingers as I suspect rosin would have. I also made a batch of Cutler's resin using this material, but haven't had an opportunity to use it. The only visible difference from the previous batch is the absence of the glossy black color, being more "greasy" looking.