Segment Information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Segment Information

NOTE 10 – SEGMENT INFORMATION

Seafarer’s wholly owned subsidiary Blockchain LogisTech, LLC began operations in 2019 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. The Company has 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 three month period ended March 31, 2020 and 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 $4,200 was 100% of the consolidated revenue of Seafarer.

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2020 is as follows:

	March 31, 2020	March 31, 2020	March 31, 2020
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$4,200	$0	$4,200
Total operating expenses	6,730	619,548	626,278
Net loss from operations	($2,530)	($619,548)	($622,078)

Blockchain LogisTech, LLC did not generate revenues or incur expenses during the three month period ended March 31, 2019.

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2019 is as follows:

	March 31, 2019	March 31, 2019	March 31, 2019
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$0	$0	$0
Total operating expenses	0	325,853	325,853
Net loss from operations	$0	($325,853)	($325,853)