SOLESENCE, INC. — Director's Dealing 2008

Sep 5, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-09-03

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
2008-09-03	Common Stock	P	3615	$1.76	Acquired	4805268	Indirect
2008-09-03	Common Stock	P	1796	$1.7894	Acquired	4804064	Indirect
2008-09-04	Common Stock	P	5000	$1.8	Acquired	4812064	Indirect
2008-09-05	Common Stock	P	1900	$1.71	Acquired	4813964	Indirect
2008-09-05	Common Stock	P	4819	$1.73	Acquired	4818783	Indirect
2008-09-05	Common Stock	P	200	$1.77	Acquired	4818983	Indirect
2008-09-05	Common Stock	P	2000	$1.78	Acquired	4820983	Indirect
2008-09-05	Common Stock	P	2800	$1.79	Acquired	4823783	Indirect
2008-09-05	Common Stock	P	1200	$1.8	Acquired	4824983	Indirect

Footnotes

F1: As General Partner of Grace Brothers, Ltd. which owns 4,252,171 shares (after purchases through September 5, 2008) and as General Partner of Grace Investments, Ltd. which owns 300,000 shares, Bradford T. Whitmnore 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.