SOLESENCE, INC. — Director's Dealing 2008

Sep 10, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-09-08

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
2008-09-08	Common Stock	P	835	$1.73	Acquired	4825818	Indirect
2008-09-08	Common Stock	P	300	$1.74	Acquired	4826118	Indirect
2008-09-08	Common Stock	P	1500	$1.75	Acquired	4827618	Indirect
2008-09-08	Common Stock	P	5936	$1.76	Acquired	4833554	Indirect
2008-09-08	Common Stock	P	2100	$1.77	Acquired	4835654	Indirect
2008-09-09	Common Stock	P	3100	$1.74	Acquired	4838754	Indirect
2008-09-09	Common Stock	P	100	$1.75	Acquired	4838854	Indirect
2008-09-09	Common Stock	P	3859	$1.76	Acquired	4842713	Indirect
2008-09-10	Common Stock	P	2600	$1.67	Acquired	4845313	Indirect
2008-09-10	Common Stock	P	10725	$1.68	Acquired	4856038	Indirect
2008-09-10	Common Stock	P	5200	$1.7	Acquired	4861238	Indirect

Footnotes

F1: As General Partner of Grace Brothers, Ltd. which owns 4,288,426 shares (after purchases through September 10, 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.