SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 9  – SEGMENT INFORMATION

Seafarer’s wholly owned subsidiary Blockchain began operations in 2019 by providing referrals to private company 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 six month periods ended June 30, 2022 and 2021 incurred by the two separate segments below.

During the six month periods ended June 30, 2022 and 2021, Blockchain did not generate any revenues. The Company is currently evaluating Blockchain’s business and does not believe that it will generate any revenues for the foreseeable future.

Segment information relating to the Company’s two operating segments for the six month period ended June 30, 2022 is as follows:

	June 30, 2022			June 30, 2022			June 30, 2022
	Blockchain LogisTech, LLC			Seafarer Exploration Corp.			Consolidated
Service revenues	$	-		$	6,220		$	6,220
Total operating expenses		30			1,372,975			1,373,005
Net loss from operations	$	(30	)	$	(1,366,755	)	$	(1,366,785	)

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

	June 30, 2021			June 30, 2021			June 30, 2021
	Blockchain LogisTech, LLC			Seafarer Exploration Corp.			Consolidated
Service revenues	$	-		$	13,374		$	13,374
Total operating expenses		20,392			1,068,982			1,089,374
Net loss from operations	$	(20,392	)	$	(1,055,608	)	$	(1,076,000	)