Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

NOTE 11 –SEGMENT INFORMATION

During 2019, Seafarer's wholly owned subsidiary Blockchain LogisTech, LLC began operations by providing referrals to P&S (please see Note 5 - Investment in Probability and Statistics, Inc.) in exchange for referral fees for closed business.

Due to Blockchain LogisTech, LLC starting operations which have no relation to the Company's shipwreck and exploration recovery business, the Company evaluated this business and its impact upon the existing corporate structure. During the year ended December 31, 2019, the Company determined that Blockchain LogisTech, LLC's and Seafarer Exploration Corp. operated has separate segments of the business. As such, the Company has presented the income (loss) from operations during the year ended December 31, 2019 incurred by the two separate segments below. substantially all of the assets held by the Company are for its shipwreck exploration and recovery business. All proceeds received from sales of common stock and issuance of convertible notes payable and notes payable are used in the shipwreck and exploration recovery business.

Blockchain LogisTech, LLC’s revenue of $14,000 was 100% of the consolidated revenue of Seafarer.

Segment information relating to the Company's results of continuing operations was as follows:

	2019	2019	2019
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$14,000	$0	$14,000
Operating Expenses
Consulting and contractor expenses	4,250	1,091,016	1,095,266
Vessel maintenance and dockage	-	154,741	154,741
Research and development	-	444,002	444,002
Professional fees	-	108,055	108,055
General and administrative expense	995	154,993	155,988
Depreciation expense	-	1,003	1,003
Rent expense	-	40,929	40,929
Travel and entertainment expense	381	65,509	65,890
Total operating expenses	5,626	2,059,245	2,064,871
Net loss from operations	$8,374	($2,059,245)	($2,050,871)