SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2023

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, 2023 and 2022 incurred by the two separate segments below.

During the nine month periods ended September 30, 2023 and 2022, Blockchain revenues were $0 and were 0% of the unaudited condensed consolidated revenues of the Company.

Segment information relating to the Company’s two operating segments for the nine month period ended September 30, 2023 is as follows:

	September 30, 2023		September 30, 2023			September 30, 2023
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	590		$	590
Total operating expenses		-		2,283,001			2,283,001
Net loss from operations	$	-	$	(2,282,411	)	$	(2,282,411	)

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

	September 30, 2022		September 30, 2022			September 30, 2022
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	11,127		$	11,127
Total operating expenses		-		1,919,812			1,919,812
Net loss from operations	$	-	$	(1,908,685	)	$	(1,908,685	)