SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 10 – 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 three month periods ended March 31, 2021 and 2020 incurred by the two separate segments below.

During the three month periods ended March 31, 2021 and 2020, Blockchain revenues of $0 and $4,200, respectively, were 0% and 100%, respectively, of the consolidated revenues of the Company.

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2021 is as follows:

	March 31, 2021			March 31, 2021			March 31, 2021
	Blockchain LogisTech, LLC			Seafarer Exploration Corp.			Consolidated
Service revenues	$	0		$	8,703		$	8,703
Total operating expenses		10,258			496,576			506,834
Net loss from operations	$	(10,258	)	$	(487,873	)	$	(498,131	)

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	)