IKONICS Corporation

2017 Annual Report

Through processes based in photochemistry, abrasive etching, chemical etching and other technologies, IKONICS participates in a diverse spectrum of markets. From traditional and high-tech screen printing, to decorative and industrial etching.

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22 IKONICS CORPORATION STATEMENTS OF STOCKHOLDERS' EQUITY YEARS ENDED DECEMBER 31, 2017 AND 2016 Total Additional Stock- Common Stock Paid-in Retained holders' Shares Amount Capital Earnings Equity BALANCE AT DECEMBER 31, 2015 2,018,253 $ 201,825 $ 2,703,050 $ 10,590,340 $ 13,495,215 Net loss — — — (65,061) (65,061) Exercise of stock options and related tax benefit 500 50 3,949 — 3,999 Stock based compensation and related tax benefit — — 25,007 — 25,007 BALANCE AT DECEMBER 31, 2016 2,018,753 201,875 2,732,006 10,525,279 13,459,160 Net loss — — — (226,147) (226,147) Exercise of stock options and related tax benefit 250 25 1,798 — 1,823 Common stock repurchased (35,450) (3,545) (47,975) (248,946) (300,466) Stock based compensation — — 23,561 — 23,561 BALANCE AT DECEMBER 31, 2017 1,983,553 $ 198,355 $ 2,709,390 $ 10,050,186 $ 12,957,931 See notes to financial statements.

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