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TERAWULF INC. Director's Dealing 2007

May 31, 2007

31209_dirs_2007-05-31_c61fba4a-1f2b-4a88-8ea7-2186842bd721.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IKONICS CORP (IKNX)
CIK: 0001083301
Period of Report: 2007-05-29

Reporting Person: Thill Parnell (Vice President, Marketing)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-29 Common Stock M 999 $2.0833 Acquired 999 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2007-05-29 Common Stock Options (right to buy) $2.0833 M 999 Disposed 2007-06-30 Common Stock (999) Direct

Footnotes

F1: Option is exercisable in three equal annual installments beginning on June 30, 2003.

F2: Not applicable.