SOLESENCE, INC. — Director's Dealing 2008

Aug 21, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-08-19

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
2008-08-19	Common Stock	P	3700	$1.95	Acquired	4670251	Indirect
2008-08-19	Common Stock	P	1200	$1.97	Acquired	4671451	Indirect
2008-08-19	Common Stock	P	3800	$1.99	Acquired	4675251	Indirect
2008-08-20	Common Stock	P	7900	$1.9	Acquired	4683151	Indirect
2008-08-20	Common Stock	P	700	$1.91	Acquired	4683851	Indirect
2008-08-20	Common Stock	P	1000	$2	Acquired	4684851	Indirect
2008-08-20	Common Stock	P	6600	$2.005	Acquired	4691451	Indirect
2008-08-20	Common Stock	P	500	$2.007	Acquired	4691951	Indirect
2008-08-20	Common Stock	P	1300	$2.0081	Acquired	4693251	Indirect
2008-08-20	Common Stock	P	500	$2.01	Acquired	4693751	Indirect
2008-08-21	Common Stock	P	2450	$1.94	Acquired	4696201	Indirect
2008-08-21	Common Stock	P	2200	$1.95	Acquired	4698401	Indirect
2008-08-21	Common Stock	P	2400	$1.9692	Acquired	4700801	Indirect
2008-08-21	Common Stock	P	7400	$1.99	Acquired	4708201	Indirect
2008-08-21	Common Stock	P	7498	$2	Acquired	4715699	Indirect
2008-08-21	Common Stock	P	11300	$2.0096	Acquired	4726999	Indirect
2008-08-21	Common Stock	P	7000	$2.0261	Acquired	4733999	Indirect

Footnotes

F1: As General Partner of Grace Brothers, Ltd. which owns 4,161,187 shares (after purchases through August 21, 2008) and as General Partner of Grace Investments, Ltd. which owns 300,000 shares, Bradford T. Whitmore is an indirect benenficial 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.