SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 9 – SEGMENT INFORMATION

Seafarer’s wholly owned subsidiary Blockchain began operations in 2019 by providing referrals 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 nine month periods ended September 30, 2021 and 2020 incurred by the two separate segments below.

During the nine month periods ended September 30, 2021 and 2020, Blockchain revenues of $0 and $4,200, respectively, were 0% and 65.8%, respectively, of the consolidated revenues of the Company.

Segment information relating to the Company’s two operating segments for the nine month period ended September 30, 2021 is as follows:

	September 30, 2021	September 30, 2021	September 30, 2021
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$0	$18,922	$18,922
Total operating expenses	29,386	1,618,340	1,647,726
Net loss from operations	($29,386)	($1,599,418)	($1,628,804)

Segment information relating to the Company’s two operating segments for the nine month period ended September 30, 2020 is as follows:

	September 30, 2020	September 30, 2020	September 30, 2020
	Blockchain LogisTech, LLC	Seafarer Exploration Corp.	Consolidated
Service revenues	$4,200	$2,182	$6,382
Total operating expenses	15,185	1,820,533	1,835,718
Net loss from operations	($10,985)	($1,818,351)	($1,829,336)