SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 11 –SEGMENT INFORMATION

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

Due to Blockchain 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 and Seafarer Exploration Corp. operate as separate segments of the business. As such, the Company has presented the income (loss) from operations during the years ended December 31, 2020 and 2019 incurred by the two separate segments below.

During the years ended December 31, 2020 and 2019, Blockchain revenues of $4,200 and $14,000, respectively, were 39.6% and 100%, respectively, of the consolidated revenues of the Company.

Segment information relating to the Company’s two operating segments for the year ended December 31, 2020 is as follows:

	December 31, 2020			December 31, 2020			December 31, 2020
	Blockchain LogisTech, LLC			Seafarer Exploration Corp.			Consolidated
Service revenues	$	4,200		$	6,422		$	10,622
Total operating expenses		23,469			2,686,359			2,709,828
Net loss from operations	$	(19,269	)	$	(2,679,937	)	$	(2,699,206	)

Segment information relating to the Company’s two operating segments for the year ended December 31, 2019 is as follows:

	December 31, 2019		December 31, 2019			December 31, 2019
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	14,000	$	-		$	14,000
Total operating expenses		5,626		2,059,245			2,064,871
Net loss from operations	$	8,374	$	(2,059,245	)	$	(2,050,871	)