Alexandra Global Master Fund Ltd, et al. – ‘SC 13G’ on 8/4/06 re: Emagin Corp

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Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G      Original Filing on Schedule 13G                        9     36K 
 2: EX-99.I     Ex-99.I: Joint Filing Agreement                        1      6K 

SC 13G   —   Original Filing on Schedule 13G
Document Table of Contents

SC 13G
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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 1 OF 10 PAGES

 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G

 UNDER THE SECURITIES EXCHANGE ACT OF 1934
 (AMENDMENT NO. __)*

eMAGIN CORPORATION
(Name of Issuer)

 Common Stock, $.001 par value
(Title of Class of Securities)

 29076N107
(CUSIP Number)

 July 25, 2006
 (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule 
is filed:                                                                       

[ ]  Rule 13d-1(b)                                                              
[X]  Rule 13d-1(c)                                                              
[ ]  Rule 13d-1(d)                                                              

*The remainder of this cover page shall be filled out for a reporting person's  
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter           
disclosures provided in a prior cover page.                                     

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of   
1934 ("Act") or otherwise subject to the liabilities of that section of the Act 
but shall be subject to all other provisions of the Act (however, see the       
Notes).                                                                         

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 2 OF 10 PAGES
--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON                                                  
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)           

Alexandra Global Master Fund Ltd.             
(No I.R.S. ID Number)                         
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP       (A)[ ]             
                                                             (B)[ ] (See Item 6)
--------------------------------------------------------------------------------
3     SEC USE ONLY                                                              

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

British Virgin Islands                        
--------------------------------------------------------------------------------

NUMBER OF          5  SOLE VOTING POWER                             
SHARES                                                            
BENEFICIALLY                 -0-                                        
 OWNED BY         ----------------------------------------------------
EACH             6  SHARED VOTING POWER                         
REPORTING                                                           
 PERSON               10,531,518 shares of Common Stock (See Item 4)
    WITH:         ----------------------------------------------------
7  SOLE DISPOSITIVE POWER     

-0-   
                  ----------------------------------------------------
8  SHARED DISPOSITIVE POWER 

                        10,531,518 shares of Common Stock (See Item 4)

--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE 
     INSTRUCTIONS)                                                         [ ]
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                         

9.9% (See Item 4)                             
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                               

CO                                            
--------------------------------------------------------------------------------

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 3 OF 10 PAGES
--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON        
(ENTITIES ONLY)                                                     

Alexandra Investment Management, LLC                          
13-4092583                                                    
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP       (A)[ ]             
                                                             (B)[ ] (See Item 6)
--------------------------------------------------------------------------------

3     SEC USE ONLY                                                              
--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

Delaware                                                      
--------------------------------------------------------------------------------
NUMBER OF          5  SOLE VOTING POWER                             
SHARES                                                            
BENEFICIALLY                     -0-                                    
 OWNED BY         ----------------------------------------------------
EACH             6  SHARED VOTING POWER                         
REPORTING                                                           
 PERSON               10,531,518 shares of Common Stock (See Item 4)
   WITH:          ----------------------------------------------------

7  SOLE DISPOSITIVE POWER     

-0-   
                  ----------------------------------------------------
8  SHARED DISPOSITIVE POWER   

                      10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

  10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE 
      INSTRUCTIONS)                                                          [ ]
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                         

9.9% (See Item 4)                             
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                               

OO                                            
--------------------------------------------------------------------------------

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 4 OF 10 PAGES

--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON        
(ENTITIES ONLY)                                                     

Mikhail A. Filimonov                          
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP       (A)[ ]             
                                                             (B)[ ] (See Item 6)
--------------------------------------------------------------------------------
3     SEC USE ONLY                                                              

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

U.S.                                          
--------------------------------------------------------------------------------
NUMBER OF          5  SOLE VOTING POWER                             
SHARES                                                            
BENEFICIALLY                     -0-                                    
 OWNED BY         ----------------------------------------------------
EACH             6  SHARED VOTING POWER                         
REPORTING                                                           
 PERSON               10,531,518 shares of Common Stock (See Item 4)
WITH:                                                           
                  ----------------------------------------------------
7  SOLE DISPOSITIVE POWER     

-0-   
                  ----------------------------------------------------
8  SHARED DISPOSITIVE POWER   

                      10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

  10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE 
      INSTRUCTIONS)                                                          [ ]
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                         

9.9% (See Item 4)                             
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                               

IN                                            
--------------------------------------------------------------------------------

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 5 OF 10 PAGES
--------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON        
(ENTITIES ONLY)                                                     

Dimitri Sogoloff                              
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP       (A)[ ]             
                                                             (B)[ ] (See Item 6)
--------------------------------------------------------------------------------
3     SEC USE ONLY                                                              

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION                                      

U.S.                                          
--------------------------------------------------------------------------------
NUMBER OF          5  SOLE VOTING POWER                               
SHARES                                                            
BENEFICIALLY                     -0-                                    
 OWNED BY         ----------------------------------------------------
EACH             6  SHARED VOTING POWER                           
REPORTING                                                           
 PERSON               10,531,518 shares of Common Stock (See Item 4)
WITH:                                                             
                  ----------------------------------------------------
7  SOLE DISPOSITIVE POWER       

-0-   
                  ----------------------------------------------------
8  SHARED DISPOSITIVE POWER     

                      10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON              

  10,531,518 shares of Common Stock (See Item 4)
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE 
      INSTRUCTIONS)                                                          [ ]
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                         

9.9% (See Item 4)                             
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)                               

IN                                            
--------------------------------------------------------------------------------

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 6 OF 10 PAGES

Item 1(a).        Name of Issuer:                                               

eMagin Corporation (the "Issuer")           

Item 1(b).        Address of Issuer's Principal Executive Offices:              

10500 NE 8th Street                         
Suite 1400                                  
Bellevue, Washington 98004                  

Item 2(a).        Names of Persons Filing:                                      

   Alexandra Global Master Fund Ltd. ("Alexandra")
       Alexandra Investment Management, LLC ("Management")
Mikhail A. Filimonov ("Filimonov")          
Dimitri Sogoloff ("Sogoloff")               

Item 2(b).        Address of Principal Business Office:                         

          Alexandra - Citco Building, Wickams Cay, P.O. Box 662,
Road Town, Tortola, British Virgin Islands  
        Management - 767 Third Avenue, 39th Floor, New York,
New York 10017                              
       Filimonov - 767 Third Avenue, 39th Floor, New York,
New York 10017                              
      Sogoloff - 767 Third Avenue, 39th Floor, New York,
New York 10017                              

Item 2(c).        Place of Organization or Citizenship:                         

Alexandra - British Virgin Islands          
Management - Delaware                       
Filimonov - U.S.                            
Sogoloff - U.S.                             

Item 2(d).        Title of Class of Securities:                                 

               Common Stock, $.001 par value per share, of the Issuer (the
"Common Stock")                             

Item 2(e).        CUSIP Number: 29076N107                                       

Item 3.           This Schedule is filed pursuant to Rule 13d-1(c) by Alexandra,
Management, Filimonov and Sogoloff          

Item 4.           Ownership:                                                    

(a)   Amount Beneficially Owned:            

Alexandra: 10,531,518 shares*   
Management: 10,531,518 shares*  
Filimonov: 10,531,518 shares*   
Sogoloff: 10,531,518 shares*    

(b)   Percent of Class:                     

Alexandra: 9.9%*                

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 7 OF 10 PAGES

Management: 9.9%*               
Filimonov: 9.9%*                
Sogoloff: 9.9%*                 

            (Based on 100,104,944 shares of Common Stock
                   outstanding, as of May 12, 2006, as reported by the
                        Issuer in the Issuer's Quarterly Report on Form 10-Q for
 the quarter ended March 31, 2006)

      (c)   Number of Shares as to which the Person has:

              (i)   sole power to vote or to direct the vote

                   -0-

                 (ii)  shared power to vote or to direct the vote:

              10,531,518 shares of Common Stock*

                        (iii) sole power to dispose or to direct the disposition
of                  

                   -0-

              (iv)  shared power to dispose or to direct the
disposition of      

              10,531,518 shares of Common Stock*

*The amount reported as beneficially owned by Alexandra include 3,636,363 shares
of Common Stock. Certain of the shares of Common Stock reported as beneficially 
owned by Alexandra are shares of Common Stock that Alexandra has the right to   
acquire upon conversion of the Issuer's 6% Convertible Notes due 2007-2008 (the 
"Notes") and exercise of the Issuer's Common Stock Purchase Warrants (the       
"Warrants"). The Notes and the Warrants contain limitations on the conversion or
exercise thereof which make the Notes inconvertible and the Warrants            
unexercisable to the extent the holder would upon conversion or exercise,       
beneficially own more than 9.9% of the Common Stock. The amount reported as     
beneficially owned is based on such limitations. In the absence of such         
limitations, the number of shares of Common Stock which Alexandra would have the
right to acquire upon conversion of the Notes would be 11,538,401 shares and the
number of shares of Common Stock that Alexandra would have the right to acquire 
upon exercise of the Warrants would be 10,258,739 shares. This amount excludes  
shares of Common Stock issuable upon conversion of the Notes in respect of      
accrued and unpaid interest on the Notes at the time of conversion.             

Management serves as investment advisor to Alexandra. By reason of such         
relationship, Management may be deemed to share voting and dispositive power    
over the shares of Common Stock owned by Alexandra. Management disclaims        
beneficial ownership of the shares of Common Stock listed as beneficially owned 
by Alexandra or any other person reporting on this Schedule.                    

Filimonov serves as the Chairman, the Chief Executive Officer, a Managing Member
and the Chief Investment Officer of Management. Sogoloff serves as the          
President, a Managing Member and the Chief Risk Officer of Management.          

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 8 OF 10 PAGES

By reason of such relationships, each of Filimonov and Sogoloff may be deemed to
share voting and dispositive power over the shares of Common Stock listed as    
beneficially owned by Management. Filimonov and Sogoloff each disclaims         
beneficial ownership of the shares of Common Stock listed as beneficially owned 
by Management or any other person reporting on this Schedule.                   

Item 5.           Ownership of Five Percent or Less of a Class:                 

Not applicable                              

Item 6.           Ownership of More Than Five Percent on Behalf of Another      
Person:                                     

Not applicable                              

Item 7.           Identification and Classification of the Subsidiary which     
         Acquired the Security Being Reported on by the Parent
Holding Company:                            

Not applicable                              

Item 8.           Identification and Classification of Members of the Group:    

Not applicable                              

Item 9.           Notice of Dissolution of Group:                               

Not applicable                              

Item 10.          Certification:                                                

By signing below each signatory certifies that, to the best of its knowledge and
belief, the securities referred to above were not acquired and are not held for 
the purpose of or with the effect of changing or influencing the control of the 
issuer of the securities and were not acquired and are not held in connection   
with or as a participant in any transaction having that purpose or effect.      

Exhibits:                                                                       

 Exhibit I: Joint Filing Agreement, dated as of August 4, 2006, by and
among Alexandra, Management, Filimonov and Sogoloff.                            

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SCHEDULE 13G                                                                    
CUSIP NO. 29076N107                                           PAGE 9 OF 10 PAGES

 SIGNATURE

By signing below each signatory certifies that, to the best of its  
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the   
control of the issuer of the securities and were not acquired and are not held  
in connection with or as a participant in any transaction having that purpose or
effect.                                                                         

Date: August 4, 2006                                                            

ALEXANDRA GLOBAL MASTER FUND LTD.       

 By: ALEXANDRA INVESTMENT MANAGEMENT, LLC,
its Investment Advisor          

By: /s/ Mikhail A. Filimonov    
 ---------------------------------
Mikhail A. Filimonov            
Title: Managing Member          

ALEXANDRA INVESTMENT MANAGEMENT, LLC    

By: /s/ Mikhail A. Filimonov            
------------------------------          
Mikhail A. Filimonov                    
Title: Managing Member                  

/s/ Mikhail A. Filimonov                
---------------------------             
Mikhail A. Filimonov                    

/s/ Dimitri Sogoloff                    
---------------------------             
Dimitri Sogoloff                        

Dates Referenced Herein   and   Documents Incorporated by Reference

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This ‘SC 13G’ Filing		Date		First		Last			Other Filings
Filed on:		8/4/06		8		9
		7/25/06		1					4,  8-K
		5/12/06		7
		3/31/06		7					10-Q
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