SOLESENCE, INC. — Director's Dealing 2008

Jun 27, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES CORPORATION (NANX)
CIK: 0000883107
Period of Report: 2008-06-25

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
2008-06-25	Common Stock	P	4400	$2.99	Acquired	4052251	Indirect
2008-06-25	Common Stock	P	599	$3	Acquired	4052850	Indirect
2008-06-25	Common Stock	P	300	$3.03	Acquired	4053150	Indirect
2008-06-25	Common Stock	P	3300	$3.04	Acquired	4056450	Indirect
2008-06-25	Common Stock	P	4100	$3.05	Acquired	4060550	Indirect
2008-06-25	Common Stock	P	21	$3.06	Acquired	4060571	Indirect
2008-06-25	Common Stock	P	300	$3.07	Acquired	4060871	Indirect
2008-06-25	Common Stock	P	200	$3.08	Acquired	4061071	Indirect
2008-06-25	Common Stock	P	600	$3.1	Acquired	4061671	Indirect
2008-06-25	Common Stock	P	6000	$3.12	Acquired	4067671	Indirect
2008-06-25	Common Stock	P	500	$3.14	Acquired	4068171	Indirect
2008-06-25	Common Stock	P	1900	$3.15	Acquired	4070071	Indirect
2008-06-25	Common Stock	P	700	$3.16	Acquired	4070771	Indirect
2008-06-25	Common Stock	P	1200	$3.17	Acquired	4071971	Indirect
2008-06-25	Common Stock	P	2600	$3.18	Acquired	4074571	Indirect
2008-06-25	Common Stock	P	500	$3.19	Acquired	4075071	Indirect
2008-06-25	Common Stock	P	1798	$3.2	Acquired	4076869	Indirect
2008-06-25	Common Stock	P	1354	$3.21	Acquired	4078223	Indirect
2008-06-27	Common Stock	P	40000	$2.09	Acquired	4118223	Indirect
2008-06-25	Common Stock	P	20000	$2.098	Acquired	4138223	Indirect
2008-06-27	Common Stock	P	4500	$2.12	Acquired	4142723	Indirect
2008-06-27	Common Stock	P	14205	$2.13	Acquired	4156928	Indirect
2008-06-27	Common Stock	P	2400	$2.1308	Acquired	4159328	Indirect
2008-06-27	Common Stock	P	39080	$2.14	Acquired	4198408	Indirect
2008-06-27	Common Stock	P	1700	$2.1418	Acquired	4200108	Indirect
2008-06-27	Common Stock	P	42700	$2.15	Acquired	4242808	Indirect
2008-06-27	Common Stock	P	2000	$2.159	Acquired	4244808	Indirect
2008-06-27	Common Stock	P	21300	$2.16	Acquired	4266108	Indirect
2008-06-27	Common Stock	P	9200	$2.17	Acquired	4275308	Indirect
2008-06-27	Common Stock	P	5100	$2.18	Acquired	4280408	Indirect

Footnotes

F1: As General Partner of Grace Brothers, Ltd. which owns 4,004,639 shares (after purchases through June 27, 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.

F3: A continuing Form 4 will be filed to reflect the remaining transactions.