INVESTMENT IN PROBABILITY AND STATISTICS, INC.	9 Months Ended
Sep. 30, 2020
Notes to Financial Statements
INVESTMENT IN PROBABILITY AND STATISTICS, INC.	NOTE 5 – INVESTMENT IN PROBABILITY AND STATISTICS, INC. The Company entered into a share exchange agreement with Probability and Statistics, Inc. (“P&S”), a privately held corporation, in August of 2018. Under the terms of the share exchange agreement, the Company agreed to issue 60,000,000 shares of its restricted common stock to P&S in exchange for 10,000 common shares of P&S, or a 1% interest. All shares issued by both parties under the agreement have all rights and entitlements as the common stock of every other shareholder of such share class. The investment in P&S was valued at $78,000 based on fair value of the Company’s shares issued to P&S on the date of the share exchange agreement and is being accounted for as a cost method investment. The Company received dividends from P&S during the nine month periods ended September 30, 2020 and 2019 of $3,000, which have been presented as dividend income on the condensed consolidated statements of operations. In August of 2020 the Company and P&S entered into a new agreement under which the Company and P&S agreed to wind down their relationship, with Seafarer agreeing to exchange 10,000 common shares of P&S for 60,000,000 shares of its common stock, effectively reversing the original transaction. The actual exchange of shares had not yet occurred at September 30, 2020. The Company has an active agreement with P&S to receive referral fees. Under the terms of the agreement, P&S has agreed to pay a 7% referral fee to the Company when P&S receives cash flows from providing blockchain software services to entities that were referred by the Company. The agreement is ongoing and has no expiration date. During the nine month periods ended September 30, 2020 and 2019 P&S paid a total of $4,200 and $12,600, respectively, of referral fees to the Company. These amounts are included in services income in the condensed consolidated statements of operations.

INVESTMENT IN PROBABILITY AND STATISTICS, INC.

9 Months Ended

Sep. 30, 2020

INVESTMENT IN PROBABILITY AND STATISTICS, INC.

NOTE 5 – INVESTMENT IN PROBABILITY AND STATISTICS, INC.

The Company entered into a share exchange agreement with Probability and Statistics, Inc. (“P&S”), a privately held corporation, in August of 2018.

Under the terms of the share exchange agreement, the Company agreed to issue 60,000,000 shares of its restricted common stock to P&S in exchange for 10,000 common shares of P&S, or a 1% interest. All shares issued by both parties under the agreement have all rights and entitlements as the common stock of every other shareholder of such share class.

The investment in P&S was valued at $78,000 based on fair value of the Company’s shares issued to P&S on the date of the share exchange agreement and is being accounted for as a cost method investment. The Company received dividends from P&S during the nine month periods ended September 30, 2020 and 2019 of $3,000, which have been presented as dividend income on the condensed consolidated statements of operations.

In August of 2020 the Company and P&S entered into a new agreement under which the Company and P&S agreed to wind down their relationship, with Seafarer agreeing to exchange 10,000 common shares of P&S for 60,000,000 shares of its common stock, effectively reversing the original transaction. The actual exchange of shares had not yet occurred at September 30, 2020.

The Company has an active agreement with P&S to receive referral fees. Under the terms of the agreement, P&S has agreed to pay a 7% referral fee to the Company when P&S receives cash flows from providing blockchain software services to entities that were referred by the Company. The agreement is ongoing and has no expiration date. During the nine month periods ended September 30, 2020 and 2019 P&S paid a total of $4,200 and $12,600, respectively, of referral fees to the Company. These amounts are included in services income in the condensed consolidated statements of operations.