Abstract: A water-proofing composition which includes an emulsified asphalt component plus a latex blend with calcium chloride as a breaking solution. The water-proofing composition becomes tack-free quickly after application and can be applied to asphalt, concrete, brick, stone, wood, metal, wood, various primed metals and other substrates surfaces. The water-proofing composition is applied to a desired substrate surface by a co-depositing the emulsified asphalt component plus a latex blend with calcium chloride separately so that they mix together during the application process.