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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

REUSING TIMOTHY 		2. Issuer Name and Ticker or Trading Symbol

ON2 TECHNOLOGIES, INC. [ (ONT) ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
General Counsel, Exec VP
(Last)          (First)          (Middle)

C/O 3 CORPORATE DRIVE., STE. 100 		3. Date of Earliest Transaction (MM/DD/YYYY)

9/18/2008
(Street)

CLIFTON PARK, NY 12065
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

9/22/2008 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   9/18/2008     A    50000   (1) A $0   50000.00   D  
 

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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 Option (right to buy) 2008/09/18   $0.42   9/18/2008     A     250000       9/18/2008   (2) 9/18/2018   Common Stock   250000.00   $0   250000.00   D  
 

Explanation of Responses:
( 1)  Represents a grant of restricted stock that will vest, subject to Reporting Person's continued employment with the Issuer on each of the following vesting dates, as follows: one half on September 18, 2009 and one half on September 18, 2010. The original Form 4 filed on September 22, 2008 is being amended to correct a transmission error in the description of the vesting schedule of the Reporting Person's September 18, 2008 restricted stock grant.
( 2)  One third of the grant amount vested on 9/18/2008 and the remaining portion of the grant amount will vest, subject to Reporting Person's continued employment with the Issuer on each of the following dates, as follows: one third of the grant amount on 9/18/2009 and one third of the grant amount on 9/18/2010.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
REUSING TIMOTHY
C/O 3 CORPORATE DRIVE., STE. 100
CLIFTON PARK, NY 12065

General Counsel, Exec VP

Signatures
/s/ Reusing, Tim 9/22/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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