SOLESENCE, INC. — Director's Dealing 2008

Sep 15, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-09-11

Reporting Person: WHITMORE BRADFORD T (10% Owner)
Reporting Person: SPURGEON CORP (10% Owner)
Reporting Person: GRACE BROTHERS LTD (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-11	Common Stock	P	244	$1.61	Acquired	4861482	Indirect
2008-09-11	Common Stock	P	7000	$1.63	Acquired	4868482	Indirect
2008-09-11	Common Stock	P	2000	$1.64	Acquired	4870482	Indirect
2008-09-12	Common Stock	P	8625	$1.51	Acquired	4879107	Indirect
2008-09-12	Common Stock	P	196	$1.52	Acquired	4879303	Indirect
2008-09-12	Common Stock	P	4460	$1.54	Acquired	4883763	Indirect
2008-09-12	Common Stock	P	600	$1.55	Acquired	4884363	Indirect
2008-09-12	Common Stock	P	1700	$1.56	Acquired	4886063	Indirect

Footnotes

F1: As General Partner of Grace Brothers, Ltd. which owns 4,313,251 shares (after purchases through September 15, 2008) and as General Partner of Grace Investments, Ltd. which owns 300,000 shares, Bradford T. Whitmore is an indirect beneficial owner. As General Partner of Grace Brothers, Ltd. and as General Partner of Grace Investments, Ltd., Spurgeon Corporation is an indirect beneficial owner.

F2: Bradford T. Whitmore directly owns 272,812 shares of common stock.