SEGMENT INFORMATION |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | NOTE 10 – 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. The segments were identified based on how the Chief Operating Decision Maker (the “CODM”), who we have determined to be our Chief Executive Officer, manages and evaluates performance and allocates resources. The CODM periodically reviews revenues, operating expenses and assets. As such, the Company has presented the income (loss) from operations during the three month and six month periods ended June 30, 2026 and 2025 incurred by the two separate segments below.
During the six month periods ended June 30, 2026 and 2025, Blockchain revenues were $0 and were 0% of the consolidated revenues of the Company.
Segment information relating to the Company’s two operating segments for the six month periods ended June 30, 2026 and 2025 are as follows:
The following information shows information for the total assets relating to the Company’s two operating segments as of June 30, 2026 and December 31, 2025 are as follows:
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