TERAWULF INC. — Director's Dealing 2007

May 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IKONICS CORP (IKNX)
CIK: 0001083301
Period of Report: 2007-05-04

Reporting Person: NERGES JOSEPH R (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-04	Common Stock	P	1000	$9	Acquired	229572	Direct
2007-05-04	Common Stock	P	1500	$9.12	Acquired	231072	Direct
2007-05-07	Common Stock	P	1500	$8.95	Acquired	232572	Direct
2007-05-07	Common Stock	P	1000	$8.93	Acquired	233572	Direct
2007-05-07	Common Stock	P	250	$8.83	Acquired	233822	Direct