TERAWULF INC. — Director's Dealing 2007

May 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IKONICS CORP (IKNX)
CIK: 0001083301
Period of Report: 2007-05-18

Reporting Person: NERGES JOSEPH R (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-18	Common Stock	P	100	$9.02	Acquired	233922	Direct
2007-05-18	Common Stock	P	494	$9.19	Acquired	234416	Direct
2007-05-18	Common Stock	P	200	$9.20	Acquired	234616	Direct
2007-05-22	Common Stock	P	1000	$9.35	Acquired	235616	Direct
2007-05-22	Common Stock	P	1500	$9.30	Acquired	237116	Direct
2007-05-22	Common Stock	P	1500	$9.25	Acquired	238616	Direct
2007-05-22	Common Stock	P	100	$9.22	Acquired	238716	Direct
2007-05-22	Common Stock	P	2400	$9.25	Acquired	241116	Direct