SOLESENCE, INC. — Director's Dealing 2019

Nov 15, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NANOPHASE TECHNOLOGIES Corp (NANX)
CIK: 0000883107
Period of Report: 2019-11-13

Reporting Person: WHITMORE BRADFORD T (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-13	2% Second Secured Convertible Note	$0.2	P		Acquired	2024-05-15	Common Stock (10000000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17096435	Direct
Common Stock	2433300	Indirect
Common Stock	601410	Indirect
Common Stock	51454	Indirect

Footnotes

F1: As manager of BRO-GP, LLC, Grace Brothers, LP's General Partner, Bradford T. Whitmore is an indirect beneficial owner of 2,433,300 shares of Common Stock.

F2: As manager of INV-GP, LLC, Grace Investments, LP's General Partner, Bradford T. Whitmore is an indirect beneficial owner of 601,410 shares of Common Stock.

F3: The Convertible Notes will be exercisable if and when the Company has filed the Certificate Amendment pursuant to which the Company's authorized shares of Common Stock are increased by an amount sufficient to satisfy the conversion rights under the Convertible Note. Following such amendment, the Note is convertible at the discretion of the holder. If the certificate amendment is not filed by December 31, 2019, the Convertible Note is immediately due and payable.