SOLESENCE, INC. — Director's Dealing 2007

Apr 26, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2007-04-24

Reporting Person: BILICKI DANIEL S (VP - Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-24	Common Stock	M	11800	$6.65	Acquired	14800	Direct
2007-04-24	Common Stock	S	1600	$7.30	Disposed	13200	Direct
2007-04-24	Common Stock	S	900	$7.32	Disposed	12300	Direct
2007-04-24	Common Stock	S	9300	$7.335	Disposed	3000	Direct
2007-04-25	Common Stock	M	730	$6.65	Acquired	3730	Direct
2007-04-25	Common Stock	S	730	$7.20	Disposed	3000	Direct
2007-04-26	Common Stock	M	2470	$6.65	Acquired	5470	Direct
2007-04-26	Common Stock	S	2470	$7.20	Disposed	3000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-24	Common Stock (right to buy)	$6.65	M	11800	Disposed	2012-01-03	Common Stock (11800)	Direct
2007-04-25	Common Stock (right to buy)	$6.65	M	730	Disposed	2012-01-03	Common Stock (730)	Direct
2007-04-26	Common Stock (right to buy)	$6.65	M	2470	Disposed	2012-01-03	Common Stock (17470)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Stock (right to buy)	$7.6875	2010-05-24	Common Stock (50000)	50000	Direct
Common Stock (right to buy)	$10.875	2011-01-26	Common Stock (30000)	30000	Direct
Common Stock (right to buy)	$7.0625	2011-02-28	Common Stock (30000)	30000	Direct
Common Stock (right to buy)	$5.55	2014-10-11	Common Stock (9300)	3100	Direct
Common Stock (right to buy)	$6.03	2015-09-27	Common Stock (9000)	6000	Direct
Common Stock (right to buy)	$6.01	2016-09-27	Common Stock (12000)	12000	Direct

Footnotes

F1: Subject to certain restrictions, beginning on this date, options vest in three equal annual installments.