SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 9 – 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, 2022 and 2021 incurred by the two separate segments below.

During the three month periods ended March 31, 2022 and 2021, Blockchain did not generate any revenues.

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2022 is as follows:

	March 31, 2022			March 31, 2022			March 31, 2022
	Blockchain LogisTech, LLC			Seafarer Exploration Corp.			Consolidated
Service revenues	$	-		$	3,089		$	3,089
Total operating expenses		10			736,063			736,073
Net loss from operations	$	(10	)	$	(732,974	)	$	(732,984	)

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	$	-		$	8,703		$	8,703
Total operating expenses		10,258			496,576			506,834
Net loss from operations	$	(10,258	)	$	(487,873	)	$	(498,131	)