FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * STILLWATER LLC   2. Issuer Name and Ticker or Trading Symbol EMAGIN CORP [EMAN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 15 EAST 62ND STREET 3. Date of Earliest Transaction (Month/Day/Year) 09/25/2008 (Street) NEW YORK, NY 10021 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/25/2008(10)   J(10)   14,188 A $ 0 (10) 1,976,115 D   Common Stock 09/25/2008(10)   J(10)   13,242 A $ 0 (10) 276,084 I By Rainbow Gate Corporation (1)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Purchase Warrants (right to buy)	$ 27.6 (2)	06/10/2008(2)		H(2)			51,776 (2)	(2)	06/10/2008	Common Stock	51,776 (2)	$ 27.6 (2)	0	D
Amended and Restated 8% Secured Convertible Note	$ 0.35 (3)							(3)	(3)	Common Stock	714,286		714,286	D
Stock Purchase Warrants (right to buy)	$ 0.48 (6)							(6)	(6)	Common Stock	1,000,000		1,000,000	D
Stock Purchase Warrants (right to buy)	$ 1.3 (7)							(7)	(7)	Common Stock	240,385		240,385	D
Amended and Restated 8% Secured Convertible Note	$ 0.75 (4)							(4)	(4)	Common Stock	933,333		933,333	I	By Rainbow Gate Corporation (1)
Stock Purchase Warrants (right to buy)	$ 1.03 (5)							(5)	(5)	Common Stock	653,333		653,333	I	By Rainbow Gate Corporation (1)
Stock Purchase Warrants (right to buy)	$ 3.45 (8)							(8)	(8)	Common Stock	29,742		29,742	I	By Rainbow Gate Corporation (1)
Stock Purchase Warrants (right to buy)	$ 10 (9)							(9)	(9)	Common Stock	54,545		54,545	I	By Rainbow Gate Corporation (1)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
STILLWATER LLC 15 EAST 62ND STREET NEW YORK, NY 10021		X

Signatures

/s/ Mortimer D.A. Sackler as President of Stillwater LLC		09/26/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These securities are owned solely by Rainbow Gate Corporation. The sole member of Stillwater LLC is the investment manager of Rainbow Gate Corporation, and this report shall not be deemed an admission that Stillwater LLC is the beneficial owner of these securities except to the extent of its pecuniary interest therein.
(2)	These warrants expired and were not exercised by the Reporting Person.
(3)	The notes have an 8% interest rate, a conversion price of $0.35, are convertible immediately and mature on December 21, 2008.
(4)	The notes have an 8% interest rate, a conversion price of $0.75, are convertible immediately and mature on December 21, 2008.
(5)	The warrants to purchase Issuer's Common Stock have an exercise price of $1.03, are exercisable immediately, and will expire on July 21, 2011.
(6)	The warrants to purchase Issuer's Common Stock have an exercise price of $0.48 per share, are exercisable immediately, and will expire on July 21, 2011.
(7)	The warrants to purchase Issuer's Common Stock have an exercise price of $1.30 per share, are exercisable immediately, and will expire on April 2, 2013.
(8)	The warrants to purchase Issuer's Common Stock are exercisable immediately, will expire on April 25, 2010, and had an exercise price of $3.45 per share prior to the Issuer's execution of Amendment No. 3 to the Loan and Security Agreement with Moriah Capital, LP but are subject to re-pricing due to the execution of such agreement in accordance with the terms of the original warrant.
(9)	The warrants to purchase Issuer's Common Stock have an exercise price of $10.00 per share, are exercisable immediately, and will expire on October 20, 2010.
(10)	These Common Stock shares were issued due to its waiver (consent), dated August 20, 2008, of the Issuer increasing their line of credit with Moriah Capital, LP and for extending the date that the loan be repaid contrary to terms in the 8% Senior Secured Convertible Notes and April 2008 Securities Purchase Agreement (as applicable). The Reporting Person received such shares from the Issuer on September 25, 2008.

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