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
2008-06-27	Common Stock	P	30250	$2.19	Acquired	4310658	Indirect
2008-06-27	Common Stock	P	31800	$2.2	Acquired	4342458	Indirect
2008-06-27	Common Stock	P	8250	$2.21	Acquired	4350708	Indirect
2008-06-27	Common Stock	P	1900	$2.2179	Acquired	4352608	Indirect
2008-06-27	Common Stock	P	16500	$2.22	Acquired	4369108	Indirect
2008-06-27	Common Stock	P	1100	$2.24	Acquired	4370208	Indirect
2008-06-27	Common Stock	P	17770	$2.25	Acquired	4387978	Indirect
2008-06-27	Common Stock	P	1300	$2.2623	Acquired	4389278	Indirect
2008-06-27	Common Stock	P	1300	$2.27	Acquired	4390578	Indirect
2008-06-27	Common Stock	P	100	$2.28	Acquired	4390678	Indirect
2008-06-27	Common Stock	P	400	$2.29	Acquired	4391078	Indirect
2008-06-27	Common Stock	P	8200	$2.3	Acquired	4399278	Indirect
2008-06-27	Common Stock	P	8300	$2.35	Acquired	4407578	Indirect
2008-06-27	Common Stock	P	1100	$2.38	Acquired	4408678	Indirect
2008-06-27	Common Stock	P	13600	$2.42	Acquired	4422278	Indirect
2008-06-27	Common Stock	P	22200	$2.4536	Acquired	4444478	Indirect
2008-06-27	Common Stock	P	11600	$2.46	Acquired	4456078	Indirect
2008-06-27	Common Stock	P	6900	$2.47	Acquired	4462978	Indirect
2008-06-27	Common Stock	P	2400	$2.5	Acquired	4465378	Indirect
2008-06-27	Common Stock	P	6800	$2.51	Acquired	4472178	Indirect
2008-06-27	Common Stock	P	3000	$2.52	Acquired	4475178	Indirect
2008-06-27	Common Stock	P	15380	$2.53	Acquired	4490558	Indirect
2008-06-27	Common Stock	P	4300	$2.54	Acquired	4494858	Indirect
2008-06-27	Common Stock	P	400	$2.55	Acquired	4495258	Indirect
2008-06-27	Common Stock	P	3800	$2.56	Acquired	4499058	Indirect
2008-06-27	Common Stock	P	3200	$2.58	Acquired	4502258	Indirect
2008-06-27	Common Stock	P	2600	$2.6	Acquired	4504858	Indirect
2008-06-27	Common Stock	P	500	$2.62	Acquired	4505358	Indirect
2008-06-27	Common Stock	P	900	$2.6244	Acquired	4506258	Indirect
2008-06-27	Common Stock	P	11400	$2.63	Acquired	4517658	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: This is a continuing Form 4 reflecting the remaining transactions from a previous filing.

F4: A continuing Form 4 will be filed to reflect the remaining transactions.