Segment Information

6 Months Ended

Jun. 30, 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 six month period ended June 30, 2020 and 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 six month period ended June 30, 2020 is as follows:

	June 30, 2020	June 30, 2020	June 30, 2020
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$4,200	$0	$4,200
Total operating expenses	10,856	1,176,103	1,186,959
Net loss from operations	($6,656)	($1,176,103)	($1,182,759)

Segment information relating to the Company’s two operating segments for the six month period ended June 30, 2019 is as follows:

	June 30, 2019	June 30, 2019	June 30, 2019
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$3,500	$0	$3,500
Total operating expenses	0	857,858	857,858
Net loss from operations	$3,500	($857,858)	($854,358)