TERAWULF INC. — Director's Dealing 2007

Nov 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IKONICS CORP (IKNX)
CIK: 0001083301
Period of Report: 2007-11-07

Reporting Person: KOMATSU YOSHIFUMI (Vice President, Technology)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-07	Common Stock	M	3000	$2.667	Acquired	5742	Direct
2007-11-07	Common Stock	S	3000	$9.00	Disposed	2742	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-07	Common Stock Option (right to buy)	$2.667	M	3000	Disposed	2008-04-24	Common Stock (3000)	Direct

Footnotes

F1: This option was previously reported as covering 2000 shares at an exercise price of $4.00 per share, but was adjusted to reflect the 3-for-2 stock split on May 13, 2004.

F2: Not applicable.