Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to __________.

Commission File Number 000-29461

(SEAFARER EXPLORATION CORP LOGO)

SEAFARER EXPLORATION CORP.

(Exact name of registrant as specified in its charter)

Florida	90-0473054
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

14497 N. Dale Mabry Highway, Suite 209-N, Tampa, Florida 33618

(Address of principal executive offices) (Zip code)

(813) 448-3577

Registrant’s telephone number

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, par value $0.0001 per share

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	o	Accelerated filer	o

Non-accelerated Filer	x	Smaller reporting company	x

		Emerging growth company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o No x

As of May 13, 2024, there were 8,514,305,043 shares of the registrant’s common stock, $.0001 par value per share, outstanding.

SEAFARER EXPLORATION CORP.
Form 10-Q
For the Quarterly Period Ended March 31, 2024

TABLE OF CONTENTS

PART I: FINANCIAL INFORMATION	4

Item 1. Financial Statements	5

Condensed Consolidated Balance Sheets: March 31, 2024 (unaudited) and December 31, 2023	5

Unaudited Condensed Consolidated Statements of Operations: Three months ended March 31, 2024 and 2023	6

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Deficit: Three months ended March 31, 2024 and 2023	7-8

Unaudited Condensed Consolidated Statements of Cash Flows: Three months ended March 31, 2024 and 2023	9

Notes to Unaudited Condensed Consolidated Financial Statements	10

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	25

Item 3. Quantitative and Qualitative Disclosures About Market Risk	32

Item 4. Controls and Procedures	32

PART II: OTHER INFORMATION	34

Item 1. Legal Proceedings	34

Item 1A. Risk Factors	34

Item 2. Recent Sales and Other Issuances of Unregistered Securities	34

Item 3. Defaults Upon Senior Securities	35

Item 4. Mine Safety Disclosures	35

Item 5. Other Information	35

Item 6. Exhibits	36

SIGNATURES	37

Part I: Financial Information

Statements in this Form 10-Q Quarterly Report may be “forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on our current expectations, estimates and projections about our business based, in part, on assumptions made by our management. These assumptions are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in this Form 10-Q Quarterly Report, under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in other documents which we file with the Securities and Exchange Commission.

In addition, such statements could be affected by risks and uncertainties related to our financial condition, factors that affect our industry, market and customer acceptance, changes in technology, fluctuations in our quarterly results, our ability to continue and manage our growth, liquidity and other capital resource issues, compliance with government regulations and permits, agreements with third parties to conduct operations, competition, fulfillment of contractual obligations by other parties and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this Form 10-Q Quarterly Report, except as required by Federal Securities law.

Item I. Financial Statements

SEAFARER EXPLORATION CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

	March 31, 2024			December 31, 2023
	(Unaudited)
Assets
Current assets
Cash	$	485,102		$	606,267
Deposits and prepaids		10,749			15,791
Total current assets		495,851			622,058

Property, plant and equipment, net		236,412			248,922
Right of use asset		25,820			30,290
Total Assets	$	758,083		$	901,270

Liabilities and Stockholders’ Deficit
Current liabilities
Accounts payable and accrued expenses	$	565,644		$	565,009
Deferred revenue		140,000			140,000
Convertible notes payable, net of discount of $45,054 and $0, respectively		104,946			-
Convertible notes payable, in default		235,300			355,300
Convertible notes payable, in default - related parties		689,500			789,500
Notes payable, net of discount of $67,708 and $95,214, respectively		782,292			404,786
Notes payable, in default		112,000			112,000
Notes payable, in default - related parties		18,500			18,500
Shareholder loan		5,000			5,000
Operating lease liability, current		19,154			18,483
Finance lease liability, current		25,150			22,263
Total current liabilities		2,697,486			2,430,841

Operating lease liability, long-term		6,934			11,974
Finance lease liability, long-term		91,197			99,917
Total Liabilities		2,795,617			2,542,732

Commitments and contingencies (Note 7)

Stockholders’ Deficit
Preferred stock, $0.0001 par values - 50,000,000 shares authorized; 67 shares issued
Series A - 7 shares issued and outstanding		-			-
Series B - 60 shares issued and outstanding		-			-
Common stock, $0.0001 par value - 9,900,000,000 shares authorized; 8,493,838,398 and 8,314,141,446 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively		849,384			831,415
Common stock to be issued, $0.0001 par value, 39,706,544 and 31,039,877 shares outstanding at March 31, 2024 and December 31, 2023, respectively		3,971			3,104
Unearned compensation		(143,405	)		(18,935	)
Additional paid in capital		26,912,044			25,890,412
Accumulated deficit		(29,659,528	)		(28,347,458	)
Total Stockholders’ Deficit		(2,037,534	)		(1,641,462	)
Total Liabilities and Stockholders’ Deficit	$	758,083		$	901,270

See accompanying notes to the unaudited condensed consolidated financial statements.

SEAFARER EXPLORATION CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)


	For the Three Months Ended March 31,
	2024			2023
Revenue:
Service income	$	3,170		$	-

Operating Expenses
Consulting and contractor expense		566,157			519,486
Vessel maintenance and dockage		119,548			194,819
Research and development		131,928			32,100
General and administrative expense		115,389			153,379
Professional fees		90,478			28,056
Travel and entertainment expense		55,938			21,184
Depreciation and amortization expense		12,510			11,588
Rent expense		9,388			13,769
Total operating expenses		1,101,336			974,381

Net loss from operations		(1,098,166	)		(974,381	)

Other income (expense)
Interest expense		(59,499	)		(16,989	)
Loss on extinguishment of debt		(154,405	)		-
Total other expenses		(213,904	)		(16,989	)

Loss before income tax		(1,312,070	)		(991,370	)
Provision on income tax		-			-

Net loss	$	(1,312,070	)	$	(991,370	)

Basic and diluted loss per share	$	(0.00	)	$	(0.00	)

Weighted average shares outstanding		8,439,207,766			7,358,073,442

See accompanying notes to the unaudited condensed consolidated financial statements.

SEAFARER EXPLORATION CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2024

(UNAUDITED)


	Series A Preferred Stock				Series B Preferred Stock				Common Stock						Common Stock to be Issued						Unarned Compensation			Additional Paid in Capital		Accumulated Deficit			Total
	Shares		Amount		Shares		Amount		Shares			Amount			Shares			Amount
Balance December 31, 2023		7	$	-		60	$	-		8,314,141,446		$	831,415			31,039,877		$	3,104		$	(18,935	)	$	25,890,412	$	(28,347,458	)	$	(1,641,462	)

Common stock issued for cash		-		-		-		-		52,833,334			5,283			10,666,667			1,067			-			312,150		-			318,500

Stock issued for loan origination fee		-		-		-		-		4,500,000			450			(2,000,000	)		(200	)		-			45,580		-			45,830

Stock issued for services		-		-		-		-		63,583,333			6,358			-			-			(185,800	)		331,667		-			152,225

Stock issued to settle accounts payable		-		-		-		-		5,476,191			548			-			-			-			32,595		-			33,143

Stock issued in exchange for leasing a vessel		-		-		-		-		3,000,000			300			-			-			-			29,700		-			30,000

Conversion of notes payable and accrued interest		-		-		-		-		61,104,658			6,110			-			-			-			268,860		-			274,970

Cancellation of shares		-		-		-		-		(10,800,564	)		(1,080	)		-			-			-			1,080		-			-

Amortization of unearned compensation		-		-		-		-		-			-			-			-			61,330			-		-			61,330

Net loss		-		-		-		-		-			-			-			-			-			-		(1,312,070	)		(1,312,070	)

Balance March 31, 2024		7	$	-		60	$	-		8,493,838,398		$	849,384			39,706,544		$	3,971		$	(143,405	)	$	26,912,044	$	(29,659,528	)	$	(2,037,534	)

See accompanying notes to the unaudited condensed consolidated financial statements.

SEAFARER EXPLORATION CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE THREE MONTHS ENDED MARCH 31, 2023

(UNAUDITED)


	Series A Preferred Stock				Series B Preferred Stock				Common Stock				Common Stock to be Issued						Unearned Compensation			Additional Paid in Capital		Accumulated Deficit			Total
	Shares		Amount		Shares		Amount		Shares		Amount		Shares			Amount
Balance December 31, 2022		7	$	—		60	$	—		7,172,668,896	$	717,268		71,929,820		$	7,197		$	(488	)	$	22,947,138	$	(25,166,812	)	$	(1,495,697	)

Common stock issued for cash		—		—		—		—		228,859,347		22,885		(40,083,333	)		(4,008	)		—			507,123		—			526,000

Stock issued as charitable donation		—		—		—		—		1,000,000		100		—			—			—			7,100		—			7,200

Stock issued for services		—		—		—		—		97,201,415		9,720		(3,015,276	)		(301	)		(280,800	)		645,352		—			373,971

Amortization of unearned compensation		—		—		—		—		—		—		—			—			54,340			—		—			54,340

Net loss		—		—		—		—		—		—		—			—			—			—		(991,370	)		(991,370	)

Balance March 31, 2023		7	$	—		60	$	—		7,499,729,658	$	749,973		28,831,211		$	2,888		$	(226,948	)	$	24,106,713	$	(26,158,182	)	$	(1,525,556	)

See accompanying notes to the unaudited condensed consolidated financial statements.

SEAFARER EXPLORATION CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)


	For the Three Months Ended March 31,
	2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(1,312,070	)	$	(991,370	)

Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization		12,510			11,588
Amortization of right of use asset, facilities		4,467			-
Amortization of beneficial conversion feature and loan fees		29,779			-
Amortization of unearned compensation		61,330			54,340
Common stock issued for services		152,225			373,971
Common stock issued in payment of a vessel rental		30,000			-
Loss on extinguishment of debt		154,405			-
Decrease (increase) in:
Prepaid expenses and deposits		5,042			-
Increase (decrease) in:
Accounts payable & accrued expenses		32,849			33,790
Operating lease liability		(4,369	)		-
Net cash used in operating activities		(833,832	)		(517,681	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment		-			(2,000	)
Net cash used in investing activities		-			(2,000	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of common stock		318,500			526,000
Proceeds from the issuance of convertible notes payable		150,000			-
Proceeds from the issuance of notes payable		350,000			-
Payments on leased equipment		(5,833	)		(2,987	)
Payments on notes payable, in default		(100,000	)		-
Payments on notes payable		-			(5,000	)
Payments to shareholders		-			(2,400	)
Net cash provided by financing activities		712,667			515,613

NET CHANGE IN CASH		(121,165	)		(4,068	)
CASH, BEGINNING OF PERIOD		606,267			177,409
CASH, END OF PERIOD	$	485,102		$	173,341

Supplemental disclosure of cash flow information
Cash paid for interest expense	$	-		$	-
Cash paid for income taxes	$	-		$	-

Non-cash operating and financing activities:
Principal and accrued interest converted to common stock	$	274,970		$	-
Financing lease liabilities and right of use asset	$	-		$	122,464
Stock issued for prepaid services	$	-		$	280,800

See accompanying notes to the unaudited condensed consolidated financial statements.

SEAFARER EXPLORATION CORP.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

The accompanying condensed consolidated financial statements of Seafarer Exploration Corp. (“Seafarer” or the “Company”) are unaudited, but in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) necessary to fairly state the Company’s financial position, results of operations, and cash flows as of and for the dates and periods presented. The unaudited condensed consolidated financial statements of the Company are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information.

These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the “Commission”) on March 26, 2024. The results of operations for the three month period ended March 31, 2024 are not necessarily indicative of the results that may be expected for the entire year ending December 31, 2024 or for any future period.

NOTE 1 – DESCRIPTION OF BUSINESS

Seafarer Exploration Corp. (“Seafarer” or the “Company”), was incorporated on May 28, 2003 in the State of Delaware.

The principal business of the Company is to engage in the archaeologically-sensitive exploration, documentation, recovery, and conservation of historic shipwrecks with the objective of exploring and discovering Colonial-era shipwrecks for future generations to be able to appreciate and understand.

In March of 2014, Seafarer entered into a partnership with Marine Archaeology Partners, LLC (“MAP”), with the formation of Seafarer’s Quest, LLC (“SQ”) for the purpose of exploring a shipwreck site off of Melbourne Beach, Florida. Under the partnership with MAP, Seafarer is the designated manager of SQ.

The Company’s wholly owned subsidiary Blockchain LogisTech, LLC (“Blockchain”), was formed on April 4, 2018 and began operations in 2019. The Company is evaluating Blockchain’s business opportunities and does not believe that Blockchain will generate any revenues for the foreseeable future.

The Company formed a wholly owned subsidiary, Exploration Studios, LLC, in May 2018 in order to explore media strategies and opportunities. Exploration Studios, LLC has not yet commenced operations.

Florida Division of Historical Resources Agreements/Permits

The Company successfully renewed its permits for both Areas 1 and 2 for the Melbourne Beach site. The Area 1 permit was renewed on March 1, 2019 for a period of three years. The Area 2 permit was renewed on January 14, 2019 for a period of three years. Per Florida Statutes, Seafarer made a timely request for renewal of the 2019 permit for Area 2 on July 29, 2022. In January of 2022, Seafarer received notification from the Florida Division of Historical Resources (“FDHR”) that its permit for Area 2, which was set to expire on January 19, 2022, has been continued indefinitely while the renewal request was being processed. The existing permits will continue until the renewal is finalized or rejected. Per Florida Statutes, Seafarer made a timely request for renewal of the 2019 permit for Area 1 on July 29, 2021. On March 2, 2022, Seafarer received notification that the permit would continue indefinitely with the same terms as Area 2.

Federal Admiralty Judgment

Seafarer was granted, through the United States District Court for the Southern District of Florida, a final judgment for its federal admiralty claim on the Juno Beach shipwreck site. The Company is conducting limited exploration operations at the Juno Beach shipwreck site while it awaits updated permitting from the Army Corp of Engineers.

Blockchain Software Services Referral Agreements

Management is reviewing potential alternate plans for Blockchain and believes that it is highly unlikely that Blockchain will generate any revenues for the foreseeable future, if ever.

NOTE 2 – GOING CONCERN

These unaudited condensed consolidated financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred net losses since inception and has an accumulated deficit of $29,659,528 as of March 31, 2024. During the three month period ended March 31, 2024, the Company’s net loss was $1,312,070 and at March 31, 2024, the Company had a working capital deficit of $2,201,635. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Based on its historical rate of expenditures, the Company expects to expend its available cash in less than three months from May 13, 2024. Management’s plans include raising capital through the issuance of common stock and debt to fund operations and, eventually, the generation of revenue through its business. The Company does not expect to generate any significant revenues for the foreseeable future. The Company is in immediate need of further working capital and is seeking options, with respect to financing, in the form of debt, equity or a combination thereof.

Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. The Company’s ability to raise additional capital through the future issuances of the common stock is unknown. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company’s ability to continue as a going concern; however, the accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These unaudited condensed consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Convertible Notes Payable and Notes Payable, in Default

The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default regarding several loans held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital.

The convertible notes that have been issued by the Company are convertible at the lender’s option. These convertible notes represent significant potential dilution to the Company’s current shareholders as the convertible price of these notes is generally lower than the current market price of the Company’s shares. As such when these notes are converted into equity there is typically a highly dilutive effect on current shareholders and very high probability that such dilution may significantly negatively affect the trading price of the Company’s common stock. Furthermore, management intends to have discussions with several of the promissory note holders who do not currently have convertible notes regarding converting their notes into equity. Any such amended agreements to convert promissory notes into equity would more than likely have a highly dilutive effect on current shareholders and there is a very high probability that such dilution may significantly negatively affect the trading price of the Company’s common stock.

See Note 5 – Convertible notes payable – in default, Convertible notes payable – related parties, in default, Notes payable – in default, Notes payable – related parties, in default, for further information regarding the Company’s convertible notes payable and notes payable that are currently in default due to non payment of principal and interest.

Current Economic Conditions

The Company and certain of its advisors are closely monitoring current domestic economic conditions. Of particular concern is the rate of inflation that has been reported as being near a forty year high and had recently increased nearly 7% on a year-over-year basis from 2021 to 2022 and the rising cost of fuel. The Federal Reserve (the “Fed’) observed that while inflation growth has moderated in 2023, inflation was still above the Fed’s target of 2% per year for the foreseeable future. The increasing inflation in the overall economy that led to higher interest rates may make it more expensive and/or potentially more challenging for the Company to access financing. Additionally, the Company’s vessels use large amounts of fuel when in operation and the recent rise in the per gallon cost of gasoline will cause an increase in the Company’s operating expenses. The increase in the cost of fuel may hamper the Company’s ability to conduct operations.

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies of Seafarer Exploration Corp. is presented to assist in understanding the Company’s unaudited condensed consolidated financial statements. The unaudited condensed consolidated financial statements and notes are representations of the Company’s management, who are responsible for their integrity and objectivity. These accounting policies conform to GAAP and have been consistently applied in the preparation of the unaudited condensed consolidated financial statements.

Principles of Consolidation

The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and Blockchain which is a wholly owned subsidiary. Intercompany accounts and transactions have been eliminated in consolidation.

Cash and Cash Equivalents

For purposes of the unaudited condensed consolidated statements of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at March 31, 2024 and December 31, 2023. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At March 31, 2024, the Company had deposits that were $235,102 in excess of the FDIC insured limit.

Research and Development Expenses

Expenditures for research and development are expensed as incurred. The Company incurred research and development expenses of $131,928 and $32,100 for the three month periods ended March 31, 2024 and 2023, respectively.

Revenue Recognition

The Company recognizes revenue in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) and all the related amendments.

The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation.

The Company recognizes revenue from the referrals that Blockchain has made to providers of software services when payment for a referral is received from the provider of software services. Blockchain, at its sole discretion and with no specific sales quotas or targets, provides referrals of potential end users to the software service providers and is paid a referral fee only after the software services providers receive payment from the end user.

The Company also has a separate sales referral agreement, with no sales quotas or specific goals or targets, with a limited liability company that provides product/system engineering and development services. The Company’s performance obligation is met when the payment from the customer is received by the provider of the development services, which is at a point in time. The Company receives referral fees when payment is received from the provider of the product/system development services which is when the Company recognizes revenue under the agreement.

The Company recognizes revenue when cash is received or when it has met its obligations per the terms of a contract or agreement for services. Payments received for services are recorded as deferred revenue and are recognized as revenue when the services have been provided.

During 2021 the Company entered into an agreement to provide scanning services using its SeaSearcher technology to a corporation involved in searching for historic shipwreck material. Under the terms of the agreement the Company received an upfront payment of $140,000 which has been included in the accompanying unaudited condensed consolidated balance sheets at March 31, 2024 and December 31, 2023 as deferred revenue as the services have not yet been provided.

Earnings Per Share

The Company has adopted the FASB ASC 260-10, Earnings per Share, which provides for the calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity.

The potentially dilutive common stock equivalents for the three month periods ended March 31, 2024 and 2023 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of March 31, 2024 and 2023, there were approximately 606,961,668 and 717,620,292 shares of common stock underlying our outstanding convertible notes payable and warrants, respectively.

Fair Value of Financial Instruments

The carrying amounts of financial assets and liabilities, such as cash, accounts payable, accrued expenses, convertible notes payable and payables, approximate their fair values because of the short maturity of these instruments.

Property, Plant and Equipment

Property, plant and equipment are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets.

Depreciation expense on property, plant and equipment was $5,465 for the three month periods ended March 31, 2024 and 2023, which is included in operating expenses in the accompanying unaudited condensed consolidated statements of operations.

Impairment of Long-Lived Assets

In accordance with ASC 360-10, Impairment and Disposal of Long Lived Assets, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. There were no impairment charges recorded during the three month periods ended March 31, 2024 and 2023.

Use of Estimates

The process of preparing condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Significant estimates for the three month periods ended March 31, 2024 and 2023 include the useful life of property, plant and equipment, valuation allowances against deferred tax assets, the fair value of non cash equity transactions, and impairment of long-lived assets.

Segment Information

During 2019, Seafarer’s wholly owned subsidiary, Blockchain began operations, generated revenue and incurred expenses. The business of Blockchain has no relation to the Company’s historic shipwreck exploration and recovery operations other than common ownership. As such, the Company concluded that the operations of Blockchain and Seafarer Exploration were separate reportable segments as of the three month periods ended March 31, 2024 and 2023 (see Note 9 – Segment Information).

Convertible Debentures

The Company adopted the guidance in Accounting Standards Update (“ASU”) 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity on January 1, 2022. ASU 2020-06 simplifies an issuer’s accounting for convertible instruments and its application of the derivatives scope exception for contracts in its own equity. Additionally, ASU 2020-06 removes the requirements for accounting for beneficial conversion features. The Company adopted ASU 2020-06 utilizing the modified retrospective method, which resulted in an immaterial impact to the Company.

Fair Value Measurements and Fair Value of Financial Instruments

The Company adopted ASC Topic 820, Fair Value Measurements. ASC Topic 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

Level 2: Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

Level 3: Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.

The estimated fair value of certain financial instruments, including all current liabilities are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

The inputs to the valuation methodology of stock options and warrants were under level 3 fair value measurements.

ASC subtopic 825-10, Financial Instruments (“ASC 825-10”) requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities as reflected in the condensed consolidated balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the condensed consolidated financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.

The Company follows ASC subtopic 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”) and ASC 825-10, which permits entities to choose to measure many financial instruments and certain other items at fair value.

Stock Based Compensation

The Company applies the fair value method of FASB ASC 718, Share Based Payment, in accounting for its stock-based compensation. The standard states that compensation cost is measured at the grant date based on the fair value of the award and is recognized over the service period. The Company values stock-based compensation at the market price for the Company’s common stock and other pertinent factors at the grant date.

Fully vested and non-forfeitable shares issued prior to the services being performed are classified as unearned compensation.

Leases

The Company accounts for leases under ASU 2016-02. At the inception of a contract the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments.

Operating lease right of use (“ROU”) assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is presented in operating expenses on the unaudited condensed consolidated statements of operations.

Finance leases are recorded as a finance lease liability and property, plant and equipment asset, based on the present value of lease payments. The asset is depreciated, and the liability is amortized with interest expense incurred over the life of the lease.

As permitted under the new guidance, the Company has made an accounting policy election not to apply the recognition provisions of the guidance to short term leases (leases with a lease term of twelve months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise); instead, the Company will recognize the lease payments for short term leases on a straight-line basis over the lease term.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Subsequent Events

It is the Company’s policy to evaluate all events that occur after the balance sheet date through the date when the condensed consolidated financial statements were issued to determine if they must be reported.

Recent Accounting Pronouncements

All other recent accounting pronouncements issued by the FASB, including ASU 2023-07 and 2023-09, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statements.

NOTE 4 – RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES

Operating Leases

Operating lease right-of-use assets and liabilities are recognized at the present value of the future lease payments at the lease commencement date. The interest rate used to determine the present value is the incremental borrowing rate, estimated to be 10%, as the interest rate implicit in most of the Company’s leases are not readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term.

The Company leases 823 square feet of office space located at 14497 North Dale Mabry Highway, Suite 209-N, Tampa, Florida 33618. The Company entered into an amended lease agreement commencing on July 1, 2020 through July 31, 2023 with base month rents of $1,475 from July 1, 2020 to June 30, 2021, $1,519 from July 1, 2021 to June 30, 2022, $1,564 from July 1, 2022 to June 30, 2023 and $1,611 from July 1, 2023 to July 31, 2023. The Company entered into an amended lease agreement commencing on August 1, 2023 through July 31, 2025 with base month rents of $1,612 from August 1, 2023 to June 31, 2024 and $1,676 from August 1, 2024 to July 31, 2025. Under the terms of the lease there may be additional fees charged above the base monthly rental fee. During the three months ended March 31, 2024 and 2023, the Company recorded $5,154 and $4,601 as operating lease expense, respectively, which is included in rent expense on the unaudited condensed consolidated statements of operations.

On August 1, 2023, upon renewal of the lease, the Company recorded a right-of-use asset and lease liability of $37,502.

Right-of-use assets at March 31, 2024 and December 31, 2023 are summarized below:

Schedule of right-of- use assets

	March 31, 2024			December 31, 2023
Office lease	$	37,502		$	37,502
Less accumulated amortization		(11,682	)		(7,212	)
Right of use assets, net	$	25,820		$	30,290

Amortization on the right -of -use asset is included in rent expense on the unaudited condensed consolidated statements of operations.

Operating Lease liabilities are summarized below:

Schedule of operating lease liabilities

	March 31, 2024			December 31, 2023
Office lease	$	26,088		$	30,457
Less: current portion		(19,154	)		(18,483	)
Long term portion	$	6,934		$	11,974

Maturity of lease liabilities are as follows:


Year ended December 31, 2024	$	15,495
Year ended December 31, 2025		12,261
Total future minimum lease payments		27,756
Less: Present value discount		(1,668	)
Lease liability	$	26,088

The Company also has an operating lease for a house located in Palm Bay, Florida that it leases on a month-to-month basis for $1,800 per month. The Company uses the house to store equipment and gear and to provide temporary work-related living quarters for its divers, personnel, consultants and independent contractors involved in its exploration and recovery operations. The Company also pays a rental fee for a space in a park on an as needed basis.

Finance Leases

Commencing during the year ended December 31, 2023, the Company entered into the following leases:

	○	Vehicle lease - monthly lease payments of $1,167 for 60 months amortized over 5 years at 12%

	○	Vessel lease - monthly lease payments of $1,557 for 60 months amortized over 5 years at 12%

	○	Sonar lease - monthly lease payments of $422 for 60 months amortized over 5 years at 12%

Finance right of use assets are summarized below:

Schedule of Finance Right-Of-Use Assets

	March 31,			December 31,
	2024			2023
Vehicle lease	$	53,100		$	53,100
Vessel lease		70,849			70,849
Sonar lease		18,987			18,987
		142,936			142,936
Less accumulated amortization		(33,960	)		(26,915	)
Finance right of use asset	$	108,976		$	116,021

Finance lease liabilities are summarized below:

Schedule of Finance Lease Liabilities

	March 31,			December 31,
	2024			2023
Vehicle lease	$	42,862		$	45,034
Vessel lease		57,187			60,085
Sonar lease		16,298			17,061
Total Lease Liabilities		116,347			122,180
Less: current portion		(25,150	)		(22,263	)
Long term portion	$	91,197		$	99,917

Maturity of lease liabilities are as follows:


Year Ended December 31, 2024	$	28,319
Year Ended December 31, 2025		37,758
Year Ended December 31, 2026		37,758
Year Ended December 31, 2027		37,758
Thereafter		4,414
Total future minimum lease payments		146,007
Less imputed interest		(29,660	)
PV of payments	$	116,347

Expenses incurred with respect to the Company’s finance leases during the three months ended March 31, 2024 and 2023 which are included in general and administrative expenses on the unaudited condensed consolidated statements of operations are set forth below.

	March 31,		March 31,
	2024		2023
Finance lease amortization	$	33,960	$	6,123
Finance lease interest		3,607		3,629
Total finance lease expense	$	37,567	$	9,752

The weighted average remaining lease term and the weighted average discount rate on the finance leases at March 31, 2024 and December 31, 2023 are set forth below.

	March 31,	December 31,
	2024	2023
Weighted average remaining lease term	3.87 years	4.75 years
Weighted average discount rate	12%	12%

NOTE 5 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

Upon inception, the Company evaluates each financial instrument to determine whether it meets the definition of “conventional convertible” debt under ASC 470.

Convertible Notes Payable

The following tables reflect the convertible notes payable at March 31, 2024 and December 31, 2023:

Schedule of Convertible Notes Payable

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate	Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable
Notes payable, Face Value	03/18/24	03/18/25	$	50,000	$	-	6.00%	Variable
Notes payable, Face Value	03/28/24	03/28/25		100,000		-	6.00%	Variable
Total				150,000		-
Less unamortized discounts				45,054		-
Balance convertible notes payable			$	104,946	$	-

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate			Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable - in default
Notes payable, Face Value	08/28/09	11/01/09	$	4,300	$	4,300		10.00	%		0.0150
Notes payable, Face Value	11/20/12	05/20/13		50,000		50,000		6.00	%		0.0050
Notes payable, Face Value	01/19/13	07/30/13		5,000		5,000		6.00	%		0.0040
Notes payable, Face Value	02/11/13	08/11/13		9,000		9,000		6.00	%		0.0060
Notes payable, Face Value	09/25/13	03/25/14		10,000		10,000		6.00	%		0.0125
Notes payable, Face Value	10/04/13	04/04/14		50,000		50,000		6.00	%		0.0125
Notes payable, Face Value	05/15/14	11/15/14		40,000		40,000		6.00	%		0.0070
Notes payable, Face Value	09/18/15	03/18/16		25,000		25,000		6.00	%		0.0020
Notes payable, Face Value	07/19/16	07/19/17		4,000		4,000		6.00	%		0.0015
Notes payable, Face Value	02/06/18	11/07/18		6,000		6,000		6.00	%		0.0006
Notes payable, Face Value	03/06/18	09/06/18		6,000		6,000		6.00	%		0.0006
Notes payable, Face Value	01/03/19	07/03/19		1,000		1,000		6.00	%		0.0010
Notes payable, Face Value	09/04/19	03/04/20		25,000		25,000		6.00	%		0.0030
Notes payable, Face Value	09/18/23	10/18/23		-		120,000		6.00	%		0.0020
Balance convertible notes payable - in default			$	235,300	$	355,300

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate			Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable - related parties, in default
Notes payable, Face Value	01/09/09	01/09/10	$	10,000	$	10,000		10.00	%		0.0150
Notes payable, Face Value	01/25/10	01/25/11		6,000		6,000		6.00	%		0.0050
Notes payable, Face Value	01/18/12	07/18/12		50,000		50,000		8.00	%		0.0040
Notes payable, Face Value	01/19/13	07/30/13		15,000		15,000		6.00	%		0.0040
Notes payable, Face Value	07/26/13	01/26/14		10,000		10,000		6.00	%		0.0100
Notes payable, Face Value	01/17/14	07/17/14		31,500		31,500		6.00	%		0.0060
Notes payable, Face Value	05/27/14	11/27/14		7,000		7,000		6.00	%		0.0070
Notes payable, Face Value	07/21/14	01/25/15		17,000		17,000		6.00	%		0.0080
Notes payable, Face Value	10/16/14	04/16/15		21,000		21,000		6.00	%		0.0045
Notes payable, Face Value	07/14/15	01/14/16		9,000		9,000		6.00	%		0.0030
Notes payable, Face Value	01/12/16	07/12/16		5,000		5,000		6.00	%		0.0020
Notes payable, Face Value	05/10/16	11/10/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	05/10/16	11/10/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	05/20/16	11/20/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	07/12/16	01/12/17		2,400		2,400		6.00	%		0.0006
Notes payable, Face Value	01/26/17	03/12/17		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	02/14/17	08/14/17		25,000		25,000		6.00	%		0.0008
Notes payable, Face Value	08/16/17	09/16/17		3,000		3,000		6.00	%		0.0008
Notes payable, Face Value	01/09/18	01/09/19		12,000		12,000		6.00	%		0.0006
Notes payable, Face Value	03/14/18	05/14/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	04/04/18	06/04/18		3,000		3,000		6.00	%		0.0007
Notes payable, Face Value	04/11/18	06/11/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	05/08/18	07/08/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	05/30/18	08/30/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	06/12/18	09/12/18		3,000		3,000		6.00	%		0.0007
Notes payable, Face Value	06/20/18	09/12/18		500		500		6.00	%		0.0007
Notes payable, Face Value	08/27/18	02/27/19		2,000		2,000		6.00	%		0.0007
Notes payable, Face Value	10/02/18	04/02/19		1,000		1,000		6.00	%		0.0008
Notes payable, Face Value	10/23/18	04/23/19		4,200		4,200		6.00	%		0.0007
Notes payable, Face Value	11/07/18	05/07/19		2,000		2,000		6.00	%		0.0008
Notes payable, Face Value	11/14/18	05/14/19		8,000		8,000		6.00	%		0.0008
Notes payable, Face Value	01/08/19	07/08/19		7,000		7,000		6.00	%		0.0008
Notes payable, Face Value	04/25/19	12/23/19		20,000		20,000		6.00	%		0.0040
Notes payable, Face Value	06/07/19	12/07/19		5,100		5,100		6.00	%		0.0030
Notes payable, Face Value	09/17/19	04/17/20		12,000		12,000		6.00	%		0.0030
Notes payable, Face Value	11/12/19	05/12/20		25,000		25,000		6.00	%		0.0025
Notes payable, Face Value	11/26/19	05/26/20		25,200		25,200		6.00	%		0.0030
Notes payable, Face Value	12/03/19	06/03/20		15,000		15,000		6.00	%		0.0030
Notes payable, Face Value	01/07/20	06/20/20		51,000		51,000		6.00	%		0.0030
Notes payable, Face Value	08/06/20	02/06/21		25,200		25,200		6.00	%		0.0035
Notes payable, Face Value	08/06/20	02/06/21		35,000		35,000		6.00	%		0.0035
Notes payable, Face Value	08/14/20	02/14/21		50,400		50,400		6.00	%		0.0035
Notes payable, Face Value	10/31/21	04/13/22		3,000		3,000		2.00	%		0.0020
Notes payable, Face Value	11/10/21	05/10/22		3,000		3,000		2.00	%		0.0020
Notes payable, Face Value	07/06/22	01/06/23		20,000		20,000		6.00	%		0.0015
Notes payable, Face Value	07/29/22	01/28/23		10,000		10,000		6.00	%		0.0020
Notes payable, Face Value	08/04/22	02/04/23		10,000		10,000		6.00	%		0.0020
Notes payable, Face Value	07/24/23	09/24/23		5,000		5,000		1.00	%		0.00175
Notes payable, Face Value	08/02/23	10/01/23		-		100,000		6.00	%		0.0020

Balance convertible notes payable - related parties, in default			$	689,500	$	789,500

Balance all convertible notes payable			$	936,342	$	1,144,800

Notes Payable

The following tables reflect the notes payable at March 31, 2024 and December 31, 2023:

Schedule of Notes Payable

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable
Notes payable, Face Value	11/10/23	11/10/24	$	500,000		$	500,000			6.00	%
Notes payable, Face Value	02/28/24	02/28/25		350,000			-			6.00	%
Total				850,000			500,000
Less unamortized discounts				(67,708	)		(95,214	)
Balance notes payable			$	782,292		$	404,786

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable - in default
Notes payable, Face Value	04/27/11	04/27/12	$	5,000		$	5,000			6.00	%
Notes payable, Face Value	12/14/17	12/14/18		2,000			2,000			6.00	%
Notes payable, Face Value	11/29/17	11/29/19		105,000			105,000			2.06	%
Balance notes payable – default			$	112,000		$	112,000

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable - related parties, in default
Notes payable, Face Value	02/24/10	02/24/11	$	7,500		$	7,500			6.00	%
Notes payable, Face Value	10/06/15	11/15/15		10,000			10,000			6.00	%
Notes payable, Face Value	02/08/18	04/09/18		1,000			1,000			6.00	%
Balance notes payable - related parties, in default			$	18,500		$	18,500

Balance all notes payable			$	912,792		$	535,286

Terms of Related Party Convertible Notes Payable and Related Party Notes Payble

The Company’s related party convertible notes payable and related party notes payable may contain terms that are not indicative of the terms that would not normally be agreeable to non related third parties.

New Convertible Notes Payable Issued During the three Month Periods Ended March 31, 2024 and 2023

During the three month period ended March 31, 2024 Company the Company entered into the following Convertible Notes Payable and Notes Payable Agreements:

In February 2024, the Company drew down the second round of funding under a promissory note agreement dated November 10, 2023 in the amount of up to $1,000,000. This note pays interest at a rate of 6% per annum. The lender advanced $350,000 in February 2024. Per the note agreement, the $350,000 received in February 2024 is due on February 27, 2025. The aggregate balance of the note payable at March 31, 2024 and December 31, 2023 is $850,000 and $500,000, respectively.

In March of 2024, the Company entered into a convertible promissory note agreement in the amount of $50,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before March 18, 2025. The lender received 1,000,000 shares of the Company’s restricted common stock as a financing fee for providing the loan. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate that is variable.

In March of 2024, the Company entered into a convertible promissory note agreement in the amount of $100,000 with an individual. This note pays interest at a rate of 6% per annum and the principal and accrued interest is due on or before March 28, 2025. The lender received 1,500,000 shares of the Company’s restricted common stock as a financing fee for providing the loan. The note is unsecured and is convertible at the lender’s option into shares of the Company’s common stock at a rate that is variable.

During the three month period ended March 31, 2023 the Company did not enter not enter into any convertible notes payable or notes payable agreements.

Repayments of Notes Payable

Period Ended March 31, 2024

During the three month period ended March 31, 2024, the Company repaid a related party shareholder a total of $102,679 of the principal balance and accrued interest of a convertible note payable. The balance of the related party convertible note was $0 at March 31, 2024.

Period Ended March 31, 2023

During the three month period ended March 31, 2023, the Company repaid a total of $5,000 of the principal of a note payable with an original principal balance of $75,000 that was due on December 14, 2018. The remaining principal balance of the note at March 31, 2024 and December 31, 2023 was $3,000.

Note Conversions

Period Ended March 31, 2024

The Company issued 61,104,658 shares of restricted common stock with a total share value of $274,970 to a limited liability company to settle $122,209 of the principal and accrued interest owed on a convertible note payable that was due on October 18, 2023. The balance of the convertible note was $0 at March 31, 2024.

Period Ended March 31, 2023

There were no conversions of convertible promissory notes during the three month period ended March 31, 2023.

Shareholder Loan

At March 31, 2024 and December 31, 2023, the Company had the following loans outstanding to its CEO in the total amount of $5,000 as follows:

A loan with no due date with a $1,500 remaining balance and an interest rate of 2% and a conversion rate of $0.0005; and

A loan due on September 9, 2022 with a remaining balance of $3,500, and an interest rate of 1%.

Collateralized Promissory Notes

Two convertible notes outstanding with related parties, dated January 9, 2009 and January 18, 2012 are collateralized by Company assets.

Convertible Notes Payable and Notes Payable, in Default

The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations, which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default of several promissory notes held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital. The Company’s convertible notes payable and notes payable in default represent a very significant risk to the viability of the Company.

NOTE 6 – STOCKHOLDERS’ DEFICIT

The Company’s total authorized capital stock consists of 9,900,000,000 shares of common stock, $0.0001 par value per share.

Preferred Stock

The Company is authorized to issue 50,000,000 shares of preferred stock.

Series A Preferred Stock

At March 31, 2024 and 2023, the Company had seven shares of Series A preferred stock issued and outstanding. Each share of Series A preferred stock has the right to convert into 214,289 shares of the Company’s common stock. In the event of a liquidation, Series A have preference.

Series B Preferred Stock

On February 10, 2014, the Board of Directors of the Company under the authority granted under Article V of the Articles of Incorporation, defined and created a new preferred series of shares from the 50,000,000 authorized preferred shares. Pursuant to Article V, the Board of Directors has the power to designate such shares and all powers and matters concerning such shares. Such share class shall be designated Preferred Class B. The preferred class was created for 60 Preferred Class B shares. Such shares each have a voting power equal to one percent of the outstanding shares issued (totaling 60%) at the time of any vote action as necessary for share votes under Florida law, with or without a shareholder meeting. Such shares are non-convertible to common stock of the Company and are not considered as convertible under any accounting measure. Such shares shall only be held by the Board of Directors as a Corporate body, and shall not be placed into any individual name. Such shares were considered issued at the time of this resolution’s adoption, and do not require a stock certificate to exist, unless selected to do so by the Board for representational purposes only. Such shares are considered for voting as a whole amount, and shall be voted for any matter by a majority vote of the Board of Directors. Such shares shall not be divisible among the Board members, and shall be voted as a whole either for or against such a vote upon the vote of the majority of the Board of Directors. In the event that there is any vote taken which results in a tie of a vote of the Board of Directors, the vote of the Chairman of the Board shall control the voting of such shares. Such shares are not transferable except in the case of a change of control of the Corporation when such shares shall continue to be held by the Board of Directors. Such shares have the authority to vote for all matters that require a share vote under Florida law and the Articles of Incorporation.

NOTE 7 – COMMITMENTS AND CONTINGENCIES

Agreement to Explore a Shipwreck Site Located off of Melbourne Beach, Florida

In March of 2014, Seafarer entered into a partnership and ownership with MAP with the formation of SQ. SQ was formed in the State of Florida for the purpose of permitting, exploration and recovery of artifacts from a designated area on the east coast of Florida. Such site area is from a defined, contracted area by a separate entity, which a portion of such site is designated from a previous contracted holding through the State of Florida. Under such agreement, Seafarer is responsible for costs of permitting, exploration and recovery, and is entitled to 80% of such artifact recovery after the state of Florida has taken their 20% under any future recovery permits. Seafarer has a 50% ownership, with designated management of the SQ coming from Seafarer. As of March 31, 2024, the partnership has had no operations. Seafarer is responsible for managing the site on behalf of SQ.

Vessel and Trailer Rental and Purchase Agreement

In January of 2023, the Company entered into a rental and purchase agreement for a vessel and trailer. Under the terms of the agreement, the Company has the right to exclusive use of the vessel, a thirty four foot King Cat manufactured by Baha Cruisers, and trailer to be able to haul the vessel. The Company agreed to make a one time payment of 15,000,000 shares of its restricted common stock, with an agreed upon value of $30,000 for the purposes of the valuation of the vessel and trailer, and pay $1,557 per month for sixty months. The Company and the owner of the vessel and trailer agreed that the price of the shares for the purposes of the share price calculation was $0.002. Once the Company has paid the amount totaling the agreed upon purchase price of $100,000, the owner of the vessel agreed to transfer the title and ownership of the vessel and trailer to the Company.

Vehicle Rental and Purchase Agreement

In January of 2023, the Company entered into a rental and purchase agreement for a vehicle for use in the Company’s operations to tow vessels and other equipment. Under the terms of the agreement, the Company has the right to exclusive use of the vehicle, a 2021 Dodge RAM 3500. The Company agreed to make a one time payment of 11,242,350 shares of its restricted common stock, with an agreed upon value of $22,485 for the purposes of the valuation of the truck, and pay $1,167 per month for sixty two months. Once the Company has an amount totaling the payoff amount, $52,464, to the seller, the seller agreed to transfer title and ownership of the vehicle to the Company.

Sonaar Rental and Purchase Agreement

In May of 2023, the Company entered into a rental and purchase agreement for sonar for use in the Company’s operations to scan, identify, and locate historic shipwreck sites. Under the terms of the agreement, the Company has the right to exclusive use of the sonar, a SSS-600K side scan sonar with total of 250 feet of cable, cable connector, laptop computer, software, GPS unit and hard carry case. The Company agreed to make a one time payment of 4,166,700 shares of its restricted common stock, with an agreed upon value of $83,334 for the purposes of the valuation of the sonar, and pay $422 per month for sixty two months. Once the Company has an amount totaling the payoff amount, $26,186, to the seller, the seller agreed to transfer title and ownership of the sonar to the Company.

Legal Proceedings

On December 21, 2022, the Company filed a lawsuit in the Circuit Court in and for Hillsborough County, Florida against John Grimm (“Grimm”), for one count of Conversion. On February 8, 2023, the Company amended its Complaint to include Zachary Smith as co-plaintiff (the Company and Smith are collectively the “Plaintiffs”) against Grimm for one count of Conversion, one count of Rescission, one count of Civil Theft, one count of Breach of Fiduciary Duty, and one count of Judicial Dissolution. The Plaintiff’s jointly sought treble damages, attorney’s fees, the return of all Seafarer equipment and other equitable relief. In December 2023, the Parties agreed to enter into negotiations towards a settlement. In February 2024, Defendant Grimm agreed to the following terms: i) Vessel – “Good Fortune” was sold and Plaintiffs received $15,000 cash payment in recognition of Smith’s fifty (50%) percent ownership of the haul; ii) Seakeeper Stabilizer, Garmin GPS, and certain other electronics were removed from the Good Fortune and returned to Seafarer; iii) Grimm relinquished 10,000,000 shares of Seafarer Common Stock, which was conveyed to Seafarer in recognition of Plaintiff’s Attorney Fees. Seafarer does not anticipate that it will be able to collect any fees from Grimm.

Certain Other Agreements

See Note 4 Operating Lease Right-of-Use Assets and Operating Lease Liabilities.

NOTE 8 – RELATED PARTY TRANSACTIONS

During the three month periods ended March 31, 2024 and 2023, the Company has had extensive dealings with related parties including the following:

Three Month Period Ended March 31, 2024

In January of 2024, the Company extended the term of previous agreements with two individuals to continue serving as members of the Company’s Board of Directors. Two of the individuals are related to the Company’s CEO. Under the agreement, the Directors agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company’s business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company’s operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The previous agreement also terminates automatically upon the death, resignation or removal of the Directors. Under the terms of the agreement, the Company agreed to compensate the related party Board members via payment of 7,000,000 restricted shares of its common stock each, an aggregate total of 14,000,000 shares or $95,200, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individuals for preapproved expenses.

Three Month Period Ended March 31, 2023

In January of 2023, the Company extended the term of previous agreements with two individuals to continue serving as members of the Company’s Board of Directors. Two of the individuals are related to the Company’s CEO. Under the agreement, the Directors agreed to provide various services to the Company including making recommendations for both the short term and the long term business strategies to be employed by the Company, monitoring and assessing the Company’s business and to advise the Company’s Board of Directors with respect to an appropriate business strategy on an ongoing basis, commenting on proposed corporate decisions and identifying and evaluating alternative courses of action, making suggestions to strengthen the Company’s operations, identifying and evaluating external threats and opportunities to the Company, evaluating and making ongoing recommendations to the Board with respect for one year and may be terminated by either the Company or the Director by providing written notice to the other party. The previous agreement also terminates automatically upon the death, resignation or removal of the Directors. Under the terms of the agreement, the Company agreed to compensate the related party Board members via payment of 10,000,000 restricted shares of its common stock each, an aggregate total of 20,000,000 shares or $144,000, and to negotiate future compensation on a year-by-year basis. The Company also agreed to reimburse the individuals for preapproved expenses.

The Company has an informal consulting agreement with a limited liability company that is owned and controlled by a person who is related to its CEO to provide general business consulting services including periodically assessing the Company’s business and advising management with respect to business strategy on an ongoing basis, commenting on proposed corporate decisions, perform period background research including background checks and provide investigative information on individuals and companies and to assist, when needed, as an administrative specialist to perform various administrative duties and clerical services including reviewing the Company’s agreements. The consultant provides the services under the direction and supervision of the Company’s CEO. During the three month periods ended March 31, 2024 and 2023, the Company paid the related party limited liability company consulting fees of $9,000 services rendered. These fees are recorded as an expense in consulting and contractor expenses in the accompanying condensed consolidated statements of operations. At March 31, 2024 and December 31, 2023, the Company owed the related party limited liability company $3,000 and $0, respectively.

The Company has an ongoing agreement with a limited liability company that is owned and controlled by a person who is related to the Company’s CEO to provide stock transfer agency services. During the three month periods ended March 31, 2024 and 2023, the Company paid the related party limited liability company fees of $2,075 and $0, respectively, for services rendered. These fees are recorded as an expense in general and administrative expenses in the accompanying condensed consolidated statements of operations. At March 31, 2024 and December 31, 2023, the Company owed the related party limited liability company $0 respectively.

During the three month periods ended March 31, 2024 and 2023, the Company paid a related party consultant fees of $0 and $12,000, respectively, for consulting services. All of the fees paid to the related party consultant are recorded as an expense in consulting and contractor expenses in the accompanying condensed consolidated statements of operations. At March 31, 2024 and December 31, 2023, the Company owed the related party limited liability company $0. respectively.

During the three month periods ended March 31, 2024 and 2023, the Company paid a person who is related to the Company’s CEO fees of $0 and $1,192 respectively, for clerical services.

Related Party Transactions

The Company’s related party transactions are not necessarily indicative of the terms that would not normally be agreeable to non related third parties.

Shareholder Loan

See Note 5 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default.

At March 31, 2024, the following promissory notes and shareholder loans were outstanding to related parties:

See Note 5 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default.

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 three month periods ended March 31, 2024 and 2023 incurred by the two separate segments below.

During the three month periods ended March 31, 2024 and 2023, 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 three month period ended March 31, 2024 is as follows:

	March 31, 2024		March 31, 2024			March 31, 2024
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	3,170		$	3,170

Total operating expenses		-		1,101,336			1,101,336

Net loss from operations	$	-	$	(1,098,166	)	$	(1,098,166	)

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2023 is as follows:

	March 31, 2023		March 31, 2023			March 31, 2023
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	-		$	-

Total operating expenses		-		974,381			974,381

Net loss from operations	$	-	$	(974,381	)	$	(974,381	)

NOTE 10 – SUBSEQUENT EVENTS

Subsequent to March 31, 2024, the Company issued or has agreed to issue shares of its common stock as follows:

(i)

sales of 9,800,000 shares of restricted common stock under subscription agreements for proceeds received of approximately $71,750; and

(ii)	the issuance of 10,666,645 shares of restricted common stock that were owed under subscription agreements from the period ended March 31, 2024 but that were not issued in the period due to administrative time lag.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

FORWARD LOOKING STATEMENTS

The following discussion contains certain forward-looking statements that are subject to business and economic risks and uncertainties, and which speak only as of the date of this annual report. No one should place strong or undue reliance on any forward-looking statements. The use in this Form 10-Q of such words as “believes”, “plans”, “anticipates”, “expects”, “intends”, and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. The Company’s actual results or actions may differ materially from these forward-looking statements due to many factors and the success of the Company is dependent on our efforts and many other factors including, primarily, our ability to raise additional capital. Such factors include, among others, the following: our ability to continue as a going concern, general economic and business conditions; competition; success of operating initiatives; our ability to raise capital and the terms thereof; changes in business strategy or development plans; future revenues; the continuity, experience and quality of our management; changes in or failure to comply with government regulations or the lack of government authorization to continue our projects; and other factors referenced in the Form 10-Q. This Item should be read in conjunction with the financial statements, the related notes and with the understanding that the Company’s actual future results may be materially different from what is currently expected or projected by the Company.

We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Such forward-looking statements are based on the beliefs and estimates of our management, as well as on assumptions made by and information currently available to us at the time such statements were made. Forward looking statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward looking statements, including, without limitation, the failure to successfully locate cargo and artifacts from the Juno Beach shipwreck site and a number of other risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements, either as a result of the matters set forth or incorporated in this Report or due to certain economic and business factors, some of which may be beyond our control.

We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Overview

General

The Company’s principal business plan is to develop the infrastructure and technology to engage in the rescue archaeology and archaeologically-sensitive exploration, recovery and conservation of historic shipwrecks and to eventually monetize the recovery of the shipwrecks without selling the treasure by creating revenue through media and technology alternatives for different industry sectors. Once artifacts have been properly conserved, they may be made available for scientific research and allowed to be displayed for the public. The Company’s secondary business is to attempt to develop revenue streams to support its historic shipwreck exploration and recovery operations. Such revenue streams will complement the technology developed by Seafarer or potentially be media related although no such revenue has materialized.

The Company has received from the Florida Department of State a notice of lack of authority to permit or deny recovery activities on the unidentified shipwreck on Juno Beach. The Florida Bureau of Archaeological Research (the “Bureau”), Division of Historical Resources, Florida Department of State stated to Seafarer “The shipwreck is non-permittable pursuant to Rule 1A-31.0045(2), F.A.C.” The Bureau cited an order dated November 14, 2017 where the United States District Court entered a Final Order of Court Default and Final Judgement Granting Award for Admiralty in Rem. The District Court’s order ruled “Seafarer is hereby the true, sole, and exclusive owner of the Defendant Shipwrecked Vessel and having exclusive right to conduct recovery operation on the Defendant Shipwrecked Vessel and any items recovered therefrom.” Additional permitting will still be necessary with the Florida Department of Environmental Protection and the U.S. Army Corps of Engineers. Applications have been made to both entities.

In order to potentially find more efficient methods to explore and document historical shipwrecks, the Company has investigated various technologies and non-scientific methodologies. To the present date, none of these technologies have been proven to work with the exception of the SeaSearcher, which has been developed to scan historic shipwreck sites for both ferrous and nonferrous artifacts. The ongoing developmental work and improvements to the SeaSearcher have been expensive and Management anticipates that the expenses for these development costs will continue to be incurred for the foreseeable future. Advances in algorithms and artificial intelligence (AI) will continue indefinitely while the present model can be currently used in the field. The Company will continue to experiment with unproven technologies and will actively work with third parties, consultants and scientists to develop its own proprietary technology which has and will result in considerable expenses.

The Company continues to review revenue producing opportunities including joint ventures and partnerships with other companies and potentially governmental agencies.

There is a possibility that the Company will be forced to cease its operations if it is not successful in eventually locating and recovering valuable artifacts and treasure or can’t build a revenue stream to offset its expenses. If the Company were to cease its operations, and not find or engage another business entity, then it is likely that there would be complete loss of all capital invested in or borrowed by the Company. As such, an investment in Seafarer is highly speculative and very risky.

This type of business venture is highly speculative in nature and carries an excessive amount of risk. An investment in the Company’s securities is very risky and should only be considered by those investors or lenders who do not require liquidity and who can afford to suffer a complete and total loss of their investment.

There is currently a limited trading market for the Company’s securities. It is impossible for the Company to assure that when and if an active-trading market in its shares will be established, or whether any such market will be sustained or sufficiently liquid to enable holders of shares of the Company’s common stock to liquidate their investment in our company.

The sale of restricted securities by current shareholders, including shares issued to consultants, independent contractors, Board members, as well as shares issued to settle convertible promissory notes or to settle other loans and debt, are highly dilutive and may cause a significant decline in the market price of the Company’s securities. Furthermore, in recent years regulatory agencies have made it very difficult for broker dealers to accept stock certificates from issuers of low priced stocks and the Company believes that it may become even more challenging to deposit stock certificates and this trend may continue for the foreseeable future.

Moreover, in the past few years several major brokerage firms have indicated that they will not allow their clients to deposit stock certificates of low priced stocks. Some securities clearing firms who used to clear low priced securities for multiple brokerage firms have shut down or been acquired, resulting in fewer brokerage firms that are willing or able to accept lower priced securities for deposit. Unless an investor has a large and well-established relationship with a brokerage firm, it may be extremely difficult and potentially expensive to deposit lower priced securities. An investor should consider consulting with professional financial advisers before making an investment in our securities. The Company is a current and fully reporting company and has been for almost 14 years.

Plan of Operation

The Company has taken the following steps to implement its business plan:

●

To date, the Company has devoted its time towards establishing its business to develop the infrastructure capable of researching, exploring, recovering and conserving historic shipwrecks. The Company has performed some research, exploration and recovery activities.

●

Spent considerable time and capital researching potential shipwrecks, including obtaining information from foreign archives.

●

The Company has worked in combination with its technology development partner, Wild Manta Labs, to build a research and conservation lab with full x-ray equipment and detailed metal identification analysis.

●

The Company has generated very limited revenues to date. Management does not believe that the Company will generate any significant revenues for the foreseeable future.

●

The Company continues to review revenue producing opportunities including joint ventures with other companies. The Company is actively looking to work with revenue producing companies. These opportunities have been slow to develop, but the Company will continue to pursue those endeavors that it believes have the potential to increase the value of the Company’s shares.

●

The Company has investigated various types of equipment and technology to expedite the process of finding artifacts other than iron or ferrous metals. Most have been of no help, but the Company continues to explore new technologies. The Company has developed its own proprietary technology, the SeaSearcher, and will attempt to continue to develop additional proprietary technologies or work with third parties to develop technologies to aid in its exploration and recovery operations. Development of technologies will require additional time and financing. The cost of developing the new technology has, to date, been very expensive for a small company.

●

The Company has investigated media opportunities to develop content centered on its specific historic shipwreck exploration and recovery activities as well as the historic shipwreck and related historical period genre in general and will continue to evaluate various media strategies.

Other Information

There are very strict international, federal and state laws that govern the exploration and recovery of historic shipwrecks. While the Company has been able to obtain some permits, there is no guarantee that the Company will be able to secure future permits or enter into agreements with government agencies in order to explore and salvage historic shipwrecks. Seafarer believes they are the only company to be issued a full recovery permit by FBAR since 1986, other than one entity with an Admiralty Claim. This demonstrates the difficulty of obtaining a recovery permit from FBAR. There is a risk that government entities may enact legislation that is so strict that any recovery of artifacts and cargo from historic shipwrecks will be nearly impossible. Additionally, permits and agreements with governmental agencies to conduct historic shipwreck exploration and recovery operations are expensive, in terms of both direct costs and ongoing compliance costs. It is also possible that the Company will not be successful in obtaining title or permission to excavate certain wrecks, even if the law allows it. It is possible that permits that are sought for potential future international projects may never be issued, and if issued, may not be legal or honored by the entities that issued them. For the above reasons, the Company has extended its research into shipwrecks outside of State waters.

It is possible that permits that are sought for potential future international projects may never be issued, and if issued, may not be legal or honored by the entities that issued them. Governmental agencies may require various types of permits to explore shipwreck sites, and the permitting process is often lengthy and complex. Obtaining permits and entering into agreements with governmental and quasi-governmental agencies to conduct historic shipwreck exploration and recovery operations is generally a very complex, time consuming, and expensive process. Furthermore, the process of entering into agreements and/or obtaining permits may be subject to lengthy delays, possibly in excess of a year. Some governmental agencies may refuse to issue permits to the Company for recovery of artifacts or intentionally delay the permitting process, or go beyond their authority and request halting of ground disturbance.

The reasons for a lengthy permitting process may be due to a number of potential factors including but not limited to requests by permitting agencies for additional information, submitted applications that need to be revised or updated, newly discovered information that needs to be added to an application or agreement, changes to either the agreement or permit terms or revisions to other information contained in the permit, excessive administrative time lags at permitting agencies, work halts based on biased predispositions with no authority given by rule 1A-31, etc. Existing permits and agreements may be put on hold or suspended without notice for lengthy periods of time due to administrative issues and disagreements over the terms and conditions. The length of time it takes to obtain permits, enter into agreements, or rectify any conditions that are causing a permit to be suspended or on hold may cause the Company to expend significant resources while gearing up to do work with little or no visibility as to timing.

The Company regularly reviews opportunities to perform exploration and recovery operations at purported historic shipwreck sites. The Company currently does have some specific plans to perform exploration and recovery operations at other shipwreck sites in the future, however these plans are subject to change based on a number of factors. The Company is actively reviewing other potential historic shipwreck sites, including sites located internationally, for possible exploration and recovery. Should the Company decide that it will pursue exploration and recovery activities at other potential shipwreck sites, it may be necessary to obtain various permits as well as environmental permits.

The Company continually monitors media rights for potential revenue opportunities. The Company has had discussions with media entities to further understand the potential advantages offered. Management believes various forms of media can represent a potential future revenue opportunity for the Company, if the right circumstances arise.

This type of business venture is extremely speculative in nature and carries a tremendous amount of risk. An investment in the Company’s securities is highly speculative and very risky and should only be considered by those investors or lenders who do not require near-term liquidity and who can afford to suffer a complete and total loss of their investment.

Results of Operations

We have generated only minimal revenue from operations and do not expect to report any significant revenue from operations for the foreseeable future. We have incurred recurring losses to date. Our condensed consolidated financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation.

The Company expects to continue to incur significant operating losses and to generate negative cash flow from operating activities, while building out its infrastructure in order to explore and salvage historic shipwreck sites and establishing itself in the marketplace. Based on our historical rate of expenditures, the Company expects to expend its available cash in less than one month from May 13, 2024.

At March 31, 2024 and December 31, 2023, the Company had working capital deficits of $2,201,635 and $1,808,783 respectively. The working capital deficit increased by $392,852 from December 31, 2023. The Company’s working capital deficit, along with its lack of cash flows from operations with which to service the debt, indicates that there is substantial risk to the continued viability of the Company and a high degree of risk that the Company could become insolvent within a very short period of time. Additionally, the Company’s current liabilities were $2,697,486 at March 31, 2024 and $2,430,841 at December 31, 2023. The increase in total debt is largely attributable to increases in notes payable and convertible notes payable.,. The Company does not currently generate the cash flow required to service this debt. Unless the Company is able to generate cash flows from operations then some, or all, of the debt that is not already in default will likely become in default. The Company is in immediate need of further working capital and is seeking options, with respect to financing, in the form of debt, equity or a combination thereof.

Since inception, the Company has funded its operations through common stock issuances and loans in order to meet its strategic objectives; however, there can be no assurance that the Company will be able to obtain further funds to continue with its efforts to establish a new business. There is a very significant risk that the Company will be unable to obtain financing to fund its operations and as such the Company may be forced to cease operations at any time which would likely result in a complete loss of all capital that has been invested in and/or borrowed by the Company to date.

The Company’s ability to eliminate operating losses and to generate positive cash flow from operations in the future will depend upon a variety of factors, many of which it is unable to control. If the Company is unable to implement its business plan successfully, it may not be able to eliminate operating losses, generate positive cash flow or achieve or sustain profitability, which may have a material adverse effect on the Company’s business, operations, and financial results, as well as its ability to make payments on its debt obligations, and the Company may be forced to cease operations.

If the Company is unable to secure additional financing, our business may fail and our stock price will likely be materially adversely affected. The Company’s lack of operating cash flow and reliance on the sale of its common stock and loans to fund operations is extremely risky. If the Company is unable to continue to raise capital or obtain loans or other financing on terms that are acceptable to the Company, or at all, then it is highly likely that the Company will be forced to cease operations. If the Company ceases its operations, then it is highly likely that all capital invested in and/or borrowed by the Company will be lost.

Summary of the Three Month Period Ended March 31, 2024 Results of Operations Compared to the Three Month Period Ended March 31, 2023 Results of Operations

Revenue

The Company’s core business involving the exploration and recovery of historic shipwrecks has not generated any revenues to date and is not expected to generate any significant revenues for the foreseeable future. During the three month periods ended March 31, 2024 and 2023, the Company generated $3,170 and $0 of revenue respectively, which is shown as service income on the accompanying condensed consolidated statements of operations.

Operating Expenses

Operating expenses were $1,101,336 for the three month period ended March 31, 2024 versus $974,381 for the same period in 2023, an increase of 13%. The increase in operating expenses in 2024 was primarily due to an increase in research and development expenses and professional fees. The inflationary environment has continued to pressure costs relating to many of the Company’s expenses. Consulting and contractor expense was $566,157 for the three month period ended March 31, 2024 versus $519,486 for the same period in 2023, an increase of 9%. The Company incurred vessel related expenses of $119,548 during the three month period ended March 31, 2024 versus $194,819 during the three month period ended March 31, 2023, a decrease of approximately 39%. Research and development expenses were $131,928 in 2024 versus $32,100 in 2023, an increase of 311% in 2024. The increase in the Company’s research and development expenses were related to the ongoing development of its SeaSearcher autonomous underwater device and development of related technology including a handheld metal discriminator. The Company believes that it will continue to expend significant resources to further develop the SeaSearcher and to begin developing next generation versions of the technology. Research and development are expected to fluctuate. During the three month period ended March 31, 2024, professional fees were $90,478 as compared to $28,056 during the three month period ended March 31, 2023 an increase of approximately 222%. Professional fees fluctuate based on the use of professional service providers. During the three month period ended March 31, 2024, general and administrative expenses were $115,389 as compared to $153,379 during the three month period ended March 31, 2023, an decrease of 25%. Depreciation and amortization expense was $12,510 during the three month period ended March 31, 2024 versus $11,588 for the same period in 2023, an increase of 8%. Rent expense was $9,388 during the three month period ended March 31, 2024 versus $13,769 for the same period in 2023, an decrease of approximately 32%. The Company incurred travel and entertainment expenses of $55,938 during the three month period ended March 31, 2024 as compared to $21,184 during the three month period ended March 31, 2023, an approximate 164% increase on a quarter-over-quarter basis, entertainment and travel expenses may fluctuate due to inflationary increases in costs and general corporate activity.

Other Income (Expenses)

Other income (expense) was $(213,904) during the three month period ended March 31, 2024 versus $(16,989) during the three month period ended March 31, 2023, an increase of $196,950. The 1,159% increase in other expense in 2024 was due to an increase in interest expenses, and loss on extinguishment of debt. Interest expense was $59,499 during the three month period ended March 31, 2024 and $16,989 during the three month period ended March 31, 2023. Interest expense increased in 2024 due to the amortization of debt discounts and increase in convertible notes payable and notes payable. Loss on extinguishment of debt was $154,405 during the three month period ended March 31, 2024 and $0 during the same period in 2023. The increase in the loss on extinguishment of debt in 2024 was due to the conversion of a convertible note payable.

Net Losses

The Company’s net loss for the three months ended March 31, 2024 and 2023 was $1,312,070, and $991,370, respectively, a year-over-year increase of approximately 32%.

Cash Flows from Operating Activities

For the three month period ended March 31, 2024 net cash flows used in operating activities was $833,832.

For the three month period ended March 31, 2023 net cash flows used in operating activities was $517,681.

Cash flows used in operating activities increased in 2024 due to an increase in the Company’s net losses.

Cash Flows from Investing Activities

For the three month period ended March 31, 2024 net cash flows used in investing activities was $0.

For the three month period ended March 31, 2023 net cash flows used in investing activities was $2,000.

Cash flows used in investing activities nominally decreased in 2024.

Cash Flows from Financing Activities

For the three month period ended March 31, 2024 net cash provided by financing activities was $712,667.

For the three month period ended March 31, 2023 net cash provided by financing activities was $515,613.

Cash flows provided by financing activities primarily increased in 2024 due to increases in the proceeds from note payable and convertible notes payable.

Liquidity and Capital Resources

At March 31, 2024, the Company had $485,102 cash in the bank. During the three month periods ended March 31, 2024 and 2023, the Company incurred net losses of $1,312,070 and $991,370 respectively. At March 31, 2024, the Company had $495,851 in current assets and $2,697,486 in current liabilities, leaving the Company a working capital deficit of $2,201,635.

Lack of Liquidity

A major financial challenge and significant risk facing the Company is a lack of positive cash flow and liquidity. The Company continued to operate with significant debt and a working capital deficit of $2,201,635, during the three month period ended March 31, 2024. This working capital deficit indicates that the Company is unable to meet its short-term liabilities with its current assets. This working capital deficit is extremely risky for the Company as it may be forced to cease its operations due to its inability to meet its current obligations. If the Company is forced to cease its operations, then it is highly likely that all capital invested in and/or borrowed by the Company will be lost.

The expenses associated with being a small publicly traded company attempting to develop the infrastructure to explore and salvage historic shipwrecks recovery are extremely prohibitive, especially given that the Company does not currently generate any significant revenues and does not expect to generate any significant revenues in the near future. There are ongoing expenses associated with operations that are incurred whether the Company is conducting shipwreck recovery operations or not. Vessel maintenance, upkeep expenses and docking fees are continuous and unavoidable regardless of the Company’s operational status. Management anticipates that the vessels utilized by the Company in its operations will need continuous and unavoidable repairs and maintenance, particularly if the Company ramps up its operational footprint and is working on more than one site simultaneously as anticipated. These repairs and maintenance are expensive and have a negative impact on the Company’s cash position.

In addition to the operation expenses, a publicly traded company also incurs the significant recurring corporate expenses related to maintaining publicly traded status, which include, but are not limited to accounting, legal, audit, executive, administrative, professional fees, corporate communications, rent, telephones, etc. The recurring expenses associated with being a publicly traded company are very burdensome for smaller public companies such as Seafarer. This lack of liquidity creates a very risky situation for the Company in terms of its ability to continue operating, which in turn makes owning shares of the Company’s common stock extremely risky and highly speculative. The Company’s lack of liquidity may cause the Company to be forced to cease operations at any time which would likely result in a complete loss of all capital invested in or borrowed by the Company to date.

Due to the fact that the Company does not generate any revenues and does not expect to generate revenues for the foreseeable future it must rely on outside equity and debt funding. The combination of the ongoing operating expenses that must be met even during times when there is little or no exploration or recovery activities taking place, and corporate expenses, creates a very risky situation for the Company and its shareholders in terms of the need to access external financing to fund operations. This working capital shortfall and lack of access to cash to fund corporate activities is extremely risky and may force the Company to cease its operations which would more than likely result in a complete loss of all capital invested in or loaned to the Company to date.

Lack of Revenues and Cash Flow/Significant Losses from Operations

The exploration and recovery of historic shipwrecks requires a multi-year, multi-stage process and it may be many years before any significant revenue is generated from exploration and recovery activities, if ever. The Company does not believe that it will generate any significant revenues in the near future. The Company believes that it may be several years before it is able to generate any cash flow from its operations, if any are ever generated at all. Without revenues and cash flow the Company does not have reliable cash flow to pay its expenses. The Company relies on outside financing in the form of equity and debt and it is possible that the Company may not be able to obtain outside financing in the future. If the Company is not able to obtain financing it would more than likely be forced to cease operations and all of the capital that has been invested in or borrowed by the Company would be lost.

If the Company is unable to secure additional financing, our business may fail or our operating results and our stock price may be materially adversely affected. The raising of additional financing would in all likelihood result in dilution or reduction in the value of the Company’s securities.

The Company may not be able to continue as a going concern. If the Company is not able to continue as a going concern, it is highly likely that all capital invested in the Company or borrowed by the Company will be lost. The report of our independent auditors for the years ended December 31, 2023 and 2022 raises substantial doubt as to our ability to continue as a going concern. As discussed in Note 2 to our condensed consolidated financial statements for the three month period ended March 31, 2024, we have experienced operating losses in every year since our inception resulting in an accumulated deficit. If the Company is not able to continue as a going concern, it is highly likely that all capital invested in the Company or borrowed by the Company will be lost.

The Company has experienced a net loss in every fiscal year since inception. The Company’s losses from operations were $1,101,336 for the three month period ended March 31, 2024 and $974,381 for the three month period ended March 31, 2023. The Company believes that it will continue to generate losses from its operations for the foreseeable future and the Company may not be able to generate a profit in the long-term, or ever.

Convertible Notes Payable and Notes Payable, in Default

Critical Accounting Policies

Our discussion and analysis of our financial condition and results of operations are based upon our condensed consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments which affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities (see Note 3, Significant Accounting Policies, contained in the notes to the Company’s condensed consolidated financial statements for the three month periods ended March 31, 2024 and 2023 contained in this filing). On an ongoing basis, we evaluate our estimates. We base our estimates on historical experience and on various other assumptions which we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities which are not readily apparent from other sources. Actual results may differ from these estimates based upon different assumptions or conditions; however, we believe that our estimates are reasonable.

Management is aware that certain changes in accounting estimates employed in generating financial statements can have the effect of making the Company look more or less profitable than it actually is. Management does not believe that the Company has made any such changes in accounting estimates.

Off-balance Sheet Arrangements

None.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not required for smaller reporting companies.

Item 4. Controls and Procedures

Management’s Responsibility for Controls and Procedures

The Company’s management is responsible for establishing and maintaining adequate internal control over the Company’s financial reporting. The Company’s controls over financial reporting are designed under the supervision of the Company’s Principal Executive Officer and Principal Financial Officer to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is accumulated and communicated to the Company’s management, including the Company’s principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our principal executive officer, the Company conducted an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures, as such term is defined under Rule 13a-15(e) promulgated under the Exchange Act, as of March 31, 2024. Based on this evaluation, management concluded that our financial disclosure controls and procedures were not effective so as to timely record, process, summarize and report financial information required to be included on our Securities and Exchange Commission (“SEC”) reports due to the Company’s limited internal resources and lack of ability to have multiple levels of transaction review. However, as a result of our evaluation and review process, management believes that the financial statements and other information presented herewith are materially correct.

Internal Control Over Financial Reporting

As of March 31, 2024, under the supervision and with the participation of our management, we conducted an evaluation of the effectiveness of the design and operations of our internal control over financial reporting, as defined in Rules 13a-15(f) or 15d-15(f) promulgated under the Securities Exchange Act of 1934 and based on the criteria for effective internal control described in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (as revised). Based on our evaluation, management concluded that our internal control over financial reporting was not effective so as to timely record, process, summarize and report financial information required to be included on our Securities and Exchange Commission (“SEC”) reports due to the Company’s limited internal resources and lack of ability to have multiple levels of transaction review. However, as a result of our evaluation and review process, management believes that the financial statements and other information presented herewith are materially correct.

Management, including its Principal Executive Officer/Principal Financial Officer, does not expect that its disclosure controls and procedures, or its internal controls over financial reporting will prevent all error and all fraud. A control system no matter how well conceived and operated, can provide only reasonable not absolute assurance that the objectives of the control system are met. Further, the design of the control system must reflect the fact that there are resource constraints, and the benefit of controls must be considered relative to their costs.

Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected.

The Company has limited resources and as a result, a material weakness in financial reporting currently exists, because of our limited resources and personnel, including those described below.

	*	The Company has an insufficient quantity of dedicated resources and experienced personnel involved in reviewing and designing internal controls. As a result, a material misstatement of the interim and annual financial statements could occur and not be prevented or detected on a timely basis.

	*	We have not achieved the optimal level of segregation of duties relative to key financial reporting functions.

	*	We do not have an audit committee or an independent audit committee financial expert. While not being legally obligated to have an audit committee or independent audit committee financial expert, it is Management’s view that to have an audit committee, comprised of independent board members, and an independent audit committee financial expert is an important entity-level control over the Company’s financial statements.

A material weakness is a deficiency (within the meaning of the Public Company Accounting Oversight Board (PCAOB) auditing standard 5) or combination of deficiencies in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has determined that a material weakness exists due to a lack of segregation of duties, resulting from the Company’s limited resources and personnel.

Remediation Efforts to Address Deficiencies in Internal Control Over Financial Reporting

As a result of these findings, management, upon obtaining sufficient capital and operations, intends to take practical, cost-effective steps in implementing internal controls, including the possible remedial measures set forth below. As of March 31, 2024 we did not have sufficient capital and/or operations to implement any of the remedial measures described below:

	*	Assessing the current duties of existing personnel and consultants, assigning additional duties to existing personnel and consultants, and, in a cost effective manner, potentially hiring additional personnel to assist with the preparation of the Company’s financial statements to allow for proper segregation of duties, as well as additional resources for control documentation.

	*	Assessing the duties of the existing officers of the Company and, in a cost effective manner, possibly promote or hire additional personnel to diversify duties and responsibilities of such executive officers.

	*	Board to review and make recommendations to shareholders concerning the composition of the Board of Directors, with particular focus on issues of independence. The Board of Directors will consider nominating an audit committee and audit committee financial expert, which may or may not consist of independent members.

	*	Interviewing and potentially hiring outside consultants that are experts in designing internal controls over financial reporting based on criteria established in Internal Control Integrated Framework issued by Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) (as revised).

This report does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to temporary rules of the SEC that permit us to provide only management’s report in this annual report.

(b) Change in Internal Control Over Financial Reporting

The Company has not made any change in our internal control over financial reporting during the three month period ended March 31, 2024.

Part II. Other Information

Item 1. Legal Proceedings

Item 1A. Risk Factors

Not required for smaller reporting companies.

Item 2. Recent Sales and Other Issuances of Unregistered Securities

During the three month period ended March 31, 2024, the Company issued 63,583,333 shares of its restricted common stock for various services. The Company believes that the issuance of the securities was exempt from registration under the Securities Act of 1933, as amended, in reliance on Section 4(2) of the Securities Act as a transaction by an issuer not involving any public offering and based on the fact that such securities were issued for services to sophisticated or accredited investors and persons who are thoroughly familiar with the Company’s proposed business by virtue of their affiliation with the Company.

On various dates during the three month period ended March 31, 2024, the Company entered into subscription agreements to sell 63,500,001 shares of its restricted common stock in exchange for proceeds of $318,500. The proceeds received were used for general corporate purposes, working capital and repayment of some debt.

Exemptions from Registration for Sales of Restricted Securities.

The issuance of securities referenced above were issued to persons who the Company believes were either “accredited investors,” or “sophisticated investors” who, by reason of education, business acumen, experience or other factors, were fully capable of evaluating the risks and merits of an investment in us; and each had prior access to all material information about us. None of these transactions involved a public offering. An appropriate restrictive legend was placed on each certificate that has been issued, prohibiting public resale of the shares, except subject to an effective registration statement under the Securities Act of 1933, as amended (the “Act”) or in compliance with Rule 144. The Company believes that the offer and sale of these securities was exempt from the registration requirements of the Securities Act pursuant to Section 4(2) under the Securities Act of 1933 (the “Act”) thereof, and/or Regulation D. There may be additional exemptions available to the Company.

Issuance of Securities Due to Conversion of Notes, Loan Origination Fees and to Settle Debt

During the three month ended March 31, 2024, the Company issued 61,104,658 shares of restricted common stock to settle the principal balance and accrued interest of a convertible note payable. The Company issued 4,500,000 shares of restricted common stock as loan origination fees. The Company issued 5,476,191 shares of restricted common stock to settle accounts payable. The Company issued 3,000,000 shares of restricted common stock to lease a vessel. The Company believes that the offer and sale of these securities were exempt from the registration requirements of the Securities Act pursuant to Sections 3(a)(9) under the Securities Act of 1933, as amended.

Repurchase of Securities

During the three month period ended March 31, 2024, the Company did not purchase any shares of its common stock and the Company is not likely to purchase any shares in the foreseeable future.

Stock Option Grants

The Company does not have any compensatory stock option grants outstanding at this time.

Warrants

The Company did not issue any warrants during the three month period ended March 31, 2024.

Item 3. Defaults Upon Senior Securities

The Company has several promissory notes and loans that are currently in default to non-payment of principle and interest. See Note 5 – Convertible Notes Payable and Notes Payable for a listing of the debt obligations of the Company that are in default.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None

Item 6. Exhibits

Set forth below is a list of the exhibits to this quarterly report on Form 10-Q.

Exhibit Number		Description
*31.1		Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) of the Securities and Exchange Act of 1934, as amended, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

*32.1		Certification of the Chief Executive Officer pursuant to Rule 13a-14(b) or Rule 15d-14(b) of the Securities and Exchange Act of 1934, as amended, and 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

**101.INS		Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File because XBRL tags are embedded within the Inline XBRL document.

**101.SCH		Inline XBRL Taxonomy Extension Schema Document

**101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document

**101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document

**101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document

**101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document

**104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

	*	Filed herewith.

	**	Furnished herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SEAFARER EXPLORATION CORP.

Date: May 13, 2024	By:	/s/ Kyle Kennedy
		Kyle Kennedy
		President, Chief Executive Officer, and Chairman of the Board (Principal Executive Officer and Principal Accounting Officer)

Date: May 13, 2024	By:	/s/ Charles Branscum
		Charles Branscum, Director

Date: May 13, 2024	By:	/s/ Robert L. Kennedy
		Robert L. Kennedy, Director

Date: May 13, 2024	By:	/s/ Thomas Soeder
		Thomas Soeder, Director

Date: May 13, 2024	By:	/s/ Bradford Clark
		Bradford Clark, Director

EXHIBIT 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

I, Kyle Kennedy, certify that:

I have reviewed this quarterly report on Form 10-Q of Seafarer Exploration Corp., for the three months ended March 31, 2024;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its condensed subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting;

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weaknesses in internal controls; and

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal controls over financial reporting.

Dated: May 13, 2024	By:	/s/ Kyle Kennedy
		Kyle Kennedy
		President, Chief Executive Officer, and Chairman of the Board (Principal Executive Officer, Principal Financial Officer and acting Principal Accounting Officer)

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Seafarer Exploration Corp. (the “Company”) on Form 10-Q for the period ended March 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Kyle Kennedy, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:

(1)

The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 13, 2024	By:	/s/ Kyle Kennedy
		Kyle Kennedy
		President, Chief Executive Officer and Chairman of the Board (Principal Executive Officer, Principal Financial Officer and acting Principal Accounting Officer)

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2024	May 13, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-29461
Entity Registrant Name	SEAFARER EXPLORATION CORP.
Entity Central Index Key	0001106213
Entity Tax Identification Number	90-0473054
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	14497 N. Dale Mabry Highway
Entity Address, Address Line Two	Suite 209-N
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33618
City Area Code	813
Local Phone Number	448-3577
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,514,305,043

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash	$ 485,102	$ 606,267
Deposits and prepaids	10,749	15,791
Total current assets	495,851	622,058
Property, plant and equipment, net	236,412	248,922
Right of use asset	25,820	30,290
Total Assets	758,083	901,270
Current liabilities
Accounts payable and accrued expenses	565,644	565,009
Deferred revenue	140,000	140,000
Convertible notes payable, net of discount of $45,054 and $0, respectively	104,946
Convertible notes payable, in default	235,300	355,300
Convertible notes payable, in default - related parties	689,500	789,500
Notes payable, net of discount of $67,708 and $95,214, respectively	782,292	404,786
Notes payable, in default	112,000	112,000
Notes payable, in default - related parties	18,500	18,500
Shareholder loan	5,000	5,000
Operating lease liability, current	19,154	18,483
Finance lease liability, current	25,150	22,263
Total current liabilities	2,697,486	2,430,841
Operating lease liability, long-term	6,934	11,974
Finance lease liability, long-term	91,197	99,917
Total Liabilities	2,795,617	2,542,732
Stockholders’ Deficit
Series B - 60 shares issued and outstanding
Common stock, $0.0001 par value - 9,900,000,000 shares authorized; 8,493,838,398 and 8,314,141,446 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	849,384	831,415
Common stock to be issued, $0.0001 par value, 39,706,544 and 31,039,877 shares outstanding at March 31, 2024 and December 31, 2023, respectively	3,971	3,104
Unearned compensation	(143,405)	(18,935)
Additional paid in capital	26,912,044	25,890,412
Accumulated deficit	(29,659,528)	(28,347,458)
Total Stockholders’ Deficit	(2,037,534)	(1,641,462)
Total Liabilities and Stockholders’ Deficit	758,083	901,270
Series A Preferred Stock [Member]
Stockholders’ Deficit
Series B - 60 shares issued and outstanding

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Convertible Notes Payable, Discount	$ 45,054	$ 0
Notes Payable, Discount	$ 67,708	$ 95,214
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	67	67
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	9,900,000,000	9,900,000,000
Common Stock, Shares, Issued	8,493,838,398	8,314,141,446
Common Stock, Shares, Outstanding	8,493,838,398	8,314,141,446
Common Stock to Be Issued [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Subscribed but Unissued	39,706,544	31,039,877
Series A Preferred Stock [Member]
Preferred Stock, Shares Issued	7	7
Preferred Stock, Shares Outstanding	7	7
Series B Preferred Stock [Member]
Preferred Stock, Shares Issued	60	60
Preferred Stock, Shares Outstanding	60	60

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Service income	$ 3,170
Operating Expenses
Consulting and contractor expense	566,157	519,486
Vessel maintenance and dockage	119,548	194,819
Research and development	131,928	32,100
General and administrative expense	115,389	153,379
Professional fees	90,478	28,056
Travel and entertainment expense	55,938	21,184
Depreciation and amortization expense	12,510	11,588
Rent expense	9,388	13,769
Total operating expenses	1,101,336	974,381
Net loss from operations	(1,098,166)	(974,381)
Other income (expense)
Interest expense	(59,499)	(16,989)
Loss on extinguishment of debt	(154,405)
Total other expenses	(213,904)	(16,989)
Loss before income tax	(1,312,070)	(991,370)
Provision on income tax
Net loss	$ (1,312,070)	$ (991,370)
Basic and diluted loss per share	$ (0.00)	$ (0.00)
Weighted average shares outstanding	8,439,207,766	7,358,073,442

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (EQUITY) (Unaudited) - USD ($)	Preferred Stock [Member] Series A Preferred Stock [Member]	Preferred Stock [Member] Series B Preferred Stock [Member]	Common Stock [Member]	Common Stock to Be Issued [Member]	Unearned Compensation [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2022			$ 717,268	$ 7,197	$ (488)	$ 22,947,138	$ (25,166,812)	$ (1,495,697)
Beginning Balance, Shares at Dec. 31, 2022	7	60	7,172,668,896	71,929,820
Common stock issued for cash			$ 22,885	$ (4,008)		507,123		526,000
Common stock issued for cash, Shares			228,859,347	(40,083,333)
Stock issued for services			$ 9,720	$ (301)	(280,800)	645,352		373,971
Stock issued for services, Shares			97,201,415	(3,015,276)
Conversion of notes payable and accrued interest
Amortization of unearned compensation					54,340			54,340
Net loss							(991,370)	(991,370)
Stock issued as charitable donation			$ 100			7,100		7,200
Stock issued as charitable donation, Shares			1,000,000
Ending balance, value at Mar. 31, 2023			$ 749,973	$ 2,888	(226,948)	24,106,713	(26,158,182)	(1,525,556)
Ending Balance, Shares at Mar. 31, 2023	7	60	7,499,729,658	28,831,211
Beginning balance, value at Dec. 31, 2023			$ 831,415	$ 3,104	(18,935)	25,890,412	(28,347,458)	(1,641,462)
Beginning Balance, Shares at Dec. 31, 2023	7	60	8,314,141,446	31,039,877
Common stock issued for cash			$ 5,283	$ 1,067		312,150		318,500
Common stock issued for cash, Shares			52,833,334	10,666,667
Stock issued for loan origination fee			$ 450	$ (200)		45,580		45,830
Stock issued for loan origination fee, Shares			4,500,000	(2,000,000)
Stock issued for services			$ 6,358		(185,800)	331,667		152,225
Stock issued for services, Shares			63,583,333
Stock issued to settle accounts payable			$ 548			32,595		33,143
Stock issued to settle accounts payable, Shares			5,476,191
Stock issued in exchange for leasing a vessel			$ 300			29,700		30,000
Stock issued in exchange for leasing a vessel, Shares			3,000,000
Conversion of notes payable and accrued interest			$ 6,110			268,860		274,970
Conversion of notes payable and accrued interest, Shares			61,104,658
Cancellation of shares			$ (1,080)			1,080
Cancellation of shares, Shares			(10,800,564)
Amortization of unearned compensation					61,330			61,330
Net loss							(1,312,070)	(1,312,070)
Ending balance, value at Mar. 31, 2024			$ 849,384	$ 3,971	$ (143,405)	$ 26,912,044	$ (29,659,528)	$ (2,037,534)
Ending Balance, Shares at Mar. 31, 2024	7	60	8,493,838,398	39,706,544

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,312,070)	$ (991,370)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	12,510	11,588
Amortization of right of use asset, facilities	4,467
Amortization of beneficial conversion feature and loan fees	29,779
Amortization of unearned compensation	61,330	54,340
Common stock issued for services	152,225	373,971
Common stock issued in payment of a vessel rental	30,000
Loss on extinguishment of debt	154,405
Decrease (increase) in:
Prepaid expenses and deposits	5,042
Increase (decrease) in:
Accounts payable & accrued expenses	32,849	33,790
Operating lease liability	(4,369)
Net cash used in operating activities	(833,832)	(517,681)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment		(2,000)
Net cash used in investing activities		(2,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of common stock	318,500	526,000
Proceeds from the issuance of convertible notes payable	150,000
Proceeds from the issuance of notes payable	350,000
Payments on leased equipment	(5,833)	(2,987)
Payments on notes payable, in default	(100,000)
Payments on notes payable		(5,000)
Payments to shareholders		(2,400)
Net cash provided by financing activities	712,667	515,613
NET CHANGE IN CASH	(121,165)	(4,068)
CASH, BEGINNING OF PERIOD	606,267	177,409
CASH, END OF PERIOD	485,102	173,341
Supplemental disclosure of cash flow information
Cash paid for interest expense
Cash paid for income taxes
Non-cash operating and financing activities:
Principal and accrued interest converted to common stock	274,970
Financing lease liabilities and right of use asset		122,464
Stock issued for prepaid services		$ 280,800

DESCRIPTION OF BUSINESS

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

DESCRIPTION OF BUSINESS

NOTE 1 – DESCRIPTION OF BUSINESS

Seafarer Exploration Corp. (“Seafarer” or the “Company”), was incorporated on May 28, 2003 in the State of Delaware.

The Company formed a wholly owned subsidiary, Exploration Studios, LLC, in May 2018 in order to explore media strategies and opportunities. Exploration Studios, LLC has not yet commenced operations.

Florida Division of Historical Resources Agreements/Permits

Federal Admiralty Judgment

Blockchain Software Services Referral Agreements

Management is reviewing potential alternate plans for Blockchain and believes that it is highly unlikely that Blockchain will generate any revenues for the foreseeable future, if ever.

GOING CONCERN

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN

NOTE 2 – GOING CONCERN

Convertible Notes Payable and Notes Payable, in Default

Current Economic Conditions

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation

Cash and Cash Equivalents

Research and Development Expenses

Revenue Recognition

Earnings Per Share

Fair Value of Financial Instruments

Property, Plant and Equipment

Property, plant and equipment are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets.

Impairment of Long-Lived Assets

Use of Estimates

Segment Information

Convertible Debentures

Fair Value Measurements and Fair Value of Financial Instruments

Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.

The inputs to the valuation methodology of stock options and warrants were under level 3 fair value measurements.

Stock Based Compensation

Fully vested and non-forfeitable shares issued prior to the services being performed are classified as unearned compensation.

Leases

Income Taxes

Subsequent Events

Recent Accounting Pronouncements

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES

NOTE 4 – RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES

Operating Leases

On August 1, 2023, upon renewal of the lease, the Company recorded a right-of-use asset and lease liability of $37,502.

Right-of-use assets at March 31, 2024 and December 31, 2023 are summarized below:

Schedule of right-of- use assets

	March 31, 2024			December 31, 2023
Office lease	$	37,502		$	37,502
Less accumulated amortization		(11,682	)		(7,212	)
Right of use assets, net	$	25,820		$	30,290

Amortization on the right -of -use asset is included in rent expense on the unaudited condensed consolidated statements of operations.

Operating Lease liabilities are summarized below:

Schedule of operating lease liabilities

	March 31, 2024			December 31, 2023
Office lease	$	26,088		$	30,457
Less: current portion		(19,154	)		(18,483	)
Long term portion	$	6,934		$	11,974

Maturity of lease liabilities are as follows:


Year ended December 31, 2024	$	15,495
Year ended December 31, 2025		12,261
Total future minimum lease payments		27,756
Less: Present value discount		(1,668	)
Lease liability	$	26,088

Finance Leases

Commencing during the year ended December 31, 2023, the Company entered into the following leases:

	○	Vehicle lease - monthly lease payments of $1,167 for 60 months amortized over 5 years at 12%

	○	Vessel lease - monthly lease payments of $1,557 for 60 months amortized over 5 years at 12%

	○	Sonar lease - monthly lease payments of $422 for 60 months amortized over 5 years at 12%

Finance right of use assets are summarized below:

Schedule of Finance Right-Of-Use Assets

	March 31,			December 31,
	2024			2023
Vehicle lease	$	53,100		$	53,100
Vessel lease		70,849			70,849
Sonar lease		18,987			18,987
		142,936			142,936
Less accumulated amortization		(33,960	)		(26,915	)
Finance right of use asset	$	108,976		$	116,021

Finance lease liabilities are summarized below:

Schedule of Finance Lease Liabilities

	March 31,			December 31,
	2024			2023
Vehicle lease	$	42,862		$	45,034
Vessel lease		57,187			60,085
Sonar lease		16,298			17,061
Total Lease Liabilities		116,347			122,180
Less: current portion		(25,150	)		(22,263	)
Long term portion	$	91,197		$	99,917

Maturity of lease liabilities are as follows:


Year Ended December 31, 2024	$	28,319
Year Ended December 31, 2025		37,758
Year Ended December 31, 2026		37,758
Year Ended December 31, 2027		37,758
Thereafter		4,414
Total future minimum lease payments		146,007
Less imputed interest		(29,660	)
PV of payments	$	116,347

	March 31,		March 31,
	2024		2023
Finance lease amortization	$	33,960	$	6,123
Finance lease interest		3,607		3,629
Total finance lease expense	$	37,567	$	9,752

The weighted average remaining lease term and the weighted average discount rate on the finance leases at March 31, 2024 and December 31, 2023 are set forth below.

	March 31,	December 31,
	2024	2023
Weighted average remaining lease term	3.87 years	4.75 years
Weighted average discount rate	12%	12%

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

3 Months Ended

Mar. 31, 2024

Convertible Notes Payable And Notes Payable

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

NOTE 5 – CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE

Upon inception, the Company evaluates each financial instrument to determine whether it meets the definition of “conventional convertible” debt under ASC 470.

Convertible Notes Payable

The following tables reflect the convertible notes payable at March 31, 2024 and December 31, 2023:

Schedule of Convertible Notes Payable

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate	Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable
Notes payable, Face Value	03/18/24	03/18/25	$	50,000	$	-	6.00%	Variable
Notes payable, Face Value	03/28/24	03/28/25		100,000		-	6.00%	Variable
Total				150,000		-
Less unamortized discounts				45,054		-
Balance convertible notes payable			$	104,946	$	-

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate			Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable - in default
Notes payable, Face Value	08/28/09	11/01/09	$	4,300	$	4,300		10.00	%		0.0150
Notes payable, Face Value	11/20/12	05/20/13		50,000		50,000		6.00	%		0.0050
Notes payable, Face Value	01/19/13	07/30/13		5,000		5,000		6.00	%		0.0040
Notes payable, Face Value	02/11/13	08/11/13		9,000		9,000		6.00	%		0.0060
Notes payable, Face Value	09/25/13	03/25/14		10,000		10,000		6.00	%		0.0125
Notes payable, Face Value	10/04/13	04/04/14		50,000		50,000		6.00	%		0.0125
Notes payable, Face Value	05/15/14	11/15/14		40,000		40,000		6.00	%		0.0070
Notes payable, Face Value	09/18/15	03/18/16		25,000		25,000		6.00	%		0.0020
Notes payable, Face Value	07/19/16	07/19/17		4,000		4,000		6.00	%		0.0015
Notes payable, Face Value	02/06/18	11/07/18		6,000		6,000		6.00	%		0.0006
Notes payable, Face Value	03/06/18	09/06/18		6,000		6,000		6.00	%		0.0006
Notes payable, Face Value	01/03/19	07/03/19		1,000		1,000		6.00	%		0.0010
Notes payable, Face Value	09/04/19	03/04/20		25,000		25,000		6.00	%		0.0030
Notes payable, Face Value	09/18/23	10/18/23		-		120,000		6.00	%		0.0020
Balance convertible notes payable - in default			$	235,300	$	355,300

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate			Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable - related parties, in default
Notes payable, Face Value	01/09/09	01/09/10	$	10,000	$	10,000		10.00	%		0.0150
Notes payable, Face Value	01/25/10	01/25/11		6,000		6,000		6.00	%		0.0050
Notes payable, Face Value	01/18/12	07/18/12		50,000		50,000		8.00	%		0.0040
Notes payable, Face Value	01/19/13	07/30/13		15,000		15,000		6.00	%		0.0040
Notes payable, Face Value	07/26/13	01/26/14		10,000		10,000		6.00	%		0.0100
Notes payable, Face Value	01/17/14	07/17/14		31,500		31,500		6.00	%		0.0060
Notes payable, Face Value	05/27/14	11/27/14		7,000		7,000		6.00	%		0.0070
Notes payable, Face Value	07/21/14	01/25/15		17,000		17,000		6.00	%		0.0080
Notes payable, Face Value	10/16/14	04/16/15		21,000		21,000		6.00	%		0.0045
Notes payable, Face Value	07/14/15	01/14/16		9,000		9,000		6.00	%		0.0030
Notes payable, Face Value	01/12/16	07/12/16		5,000		5,000		6.00	%		0.0020
Notes payable, Face Value	05/10/16	11/10/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	05/10/16	11/10/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	05/20/16	11/20/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	07/12/16	01/12/17		2,400		2,400		6.00	%		0.0006
Notes payable, Face Value	01/26/17	03/12/17		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	02/14/17	08/14/17		25,000		25,000		6.00	%		0.0008
Notes payable, Face Value	08/16/17	09/16/17		3,000		3,000		6.00	%		0.0008
Notes payable, Face Value	01/09/18	01/09/19		12,000		12,000		6.00	%		0.0006
Notes payable, Face Value	03/14/18	05/14/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	04/04/18	06/04/18		3,000		3,000		6.00	%		0.0007
Notes payable, Face Value	04/11/18	06/11/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	05/08/18	07/08/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	05/30/18	08/30/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	06/12/18	09/12/18		3,000		3,000		6.00	%		0.0007
Notes payable, Face Value	06/20/18	09/12/18		500		500		6.00	%		0.0007
Notes payable, Face Value	08/27/18	02/27/19		2,000		2,000		6.00	%		0.0007
Notes payable, Face Value	10/02/18	04/02/19		1,000		1,000		6.00	%		0.0008
Notes payable, Face Value	10/23/18	04/23/19		4,200		4,200		6.00	%		0.0007
Notes payable, Face Value	11/07/18	05/07/19		2,000		2,000		6.00	%		0.0008
Notes payable, Face Value	11/14/18	05/14/19		8,000		8,000		6.00	%		0.0008
Notes payable, Face Value	01/08/19	07/08/19		7,000		7,000		6.00	%		0.0008
Notes payable, Face Value	04/25/19	12/23/19		20,000		20,000		6.00	%		0.0040
Notes payable, Face Value	06/07/19	12/07/19		5,100		5,100		6.00	%		0.0030
Notes payable, Face Value	09/17/19	04/17/20		12,000		12,000		6.00	%		0.0030
Notes payable, Face Value	11/12/19	05/12/20		25,000		25,000		6.00	%		0.0025
Notes payable, Face Value	11/26/19	05/26/20		25,200		25,200		6.00	%		0.0030
Notes payable, Face Value	12/03/19	06/03/20		15,000		15,000		6.00	%		0.0030
Notes payable, Face Value	01/07/20	06/20/20		51,000		51,000		6.00	%		0.0030
Notes payable, Face Value	08/06/20	02/06/21		25,200		25,200		6.00	%		0.0035
Notes payable, Face Value	08/06/20	02/06/21		35,000		35,000		6.00	%		0.0035
Notes payable, Face Value	08/14/20	02/14/21		50,400		50,400		6.00	%		0.0035
Notes payable, Face Value	10/31/21	04/13/22		3,000		3,000		2.00	%		0.0020
Notes payable, Face Value	11/10/21	05/10/22		3,000		3,000		2.00	%		0.0020
Notes payable, Face Value	07/06/22	01/06/23		20,000		20,000		6.00	%		0.0015
Notes payable, Face Value	07/29/22	01/28/23		10,000		10,000		6.00	%		0.0020
Notes payable, Face Value	08/04/22	02/04/23		10,000		10,000		6.00	%		0.0020
Notes payable, Face Value	07/24/23	09/24/23		5,000		5,000		1.00	%		0.00175
Notes payable, Face Value	08/02/23	10/01/23		-		100,000		6.00	%		0.0020

Balance convertible notes payable - related parties, in default			$	689,500	$	789,500

Balance all convertible notes payable			$	936,342	$	1,144,800

Notes Payable

The following tables reflect the notes payable at March 31, 2024 and December 31, 2023:

Schedule of Notes Payable

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable
Notes payable, Face Value	11/10/23	11/10/24	$	500,000		$	500,000			6.00	%
Notes payable, Face Value	02/28/24	02/28/25		350,000			-			6.00	%
Total				850,000			500,000
Less unamortized discounts				(67,708	)		(95,214	)
Balance notes payable			$	782,292		$	404,786

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable - in default
Notes payable, Face Value	04/27/11	04/27/12	$	5,000		$	5,000			6.00	%
Notes payable, Face Value	12/14/17	12/14/18		2,000			2,000			6.00	%
Notes payable, Face Value	11/29/17	11/29/19		105,000			105,000			2.06	%
Balance notes payable – default			$	112,000		$	112,000

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable - related parties, in default
Notes payable, Face Value	02/24/10	02/24/11	$	7,500		$	7,500			6.00	%
Notes payable, Face Value	10/06/15	11/15/15		10,000			10,000			6.00	%
Notes payable, Face Value	02/08/18	04/09/18		1,000			1,000			6.00	%
Balance notes payable - related parties, in default			$	18,500		$	18,500

Balance all notes payable			$	912,792		$	535,286

Terms of Related Party Convertible Notes Payable and Related Party Notes Payble

New Convertible Notes Payable Issued During the three Month Periods Ended March 31, 2024 and 2023

During the three month period ended March 31, 2024 Company the Company entered into the following Convertible Notes Payable and Notes Payable Agreements:

During the three month period ended March 31, 2023 the Company did not enter not enter into any convertible notes payable or notes payable agreements.

Repayments of Notes Payable

Period Ended March 31, 2024

Period Ended March 31, 2023

Note Conversions

Period Ended March 31, 2024

Period Ended March 31, 2023

There were no conversions of convertible promissory notes during the three month period ended March 31, 2023.

Shareholder Loan

At March 31, 2024 and December 31, 2023, the Company had the following loans outstanding to its CEO in the total amount of $5,000 as follows:

A loan with no due date with a $1,500 remaining balance and an interest rate of 2% and a conversion rate of $0.0005; and

A loan due on September 9, 2022 with a remaining balance of $3,500, and an interest rate of 1%.

Collateralized Promissory Notes

Two convertible notes outstanding with related parties, dated January 9, 2009 and January 18, 2012 are collateralized by Company assets.

Convertible Notes Payable and Notes Payable, in Default

The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations, which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company. The fact that the Company is in default of several promissory notes held by various lenders makes investing in the Company or providing any loans to the Company extremely risky with a very high potential for a complete loss of capital. The Company’s convertible notes payable and notes payable in default represent a very significant risk to the viability of the Company.

STOCKHOLDERS’ DEFICIT

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

STOCKHOLDERS’ DEFICIT

NOTE 6 – STOCKHOLDERS’ DEFICIT

The Company’s total authorized capital stock consists of 9,900,000,000 shares of common stock, $0.0001 par value per share.

Preferred Stock

The Company is authorized to issue 50,000,000 shares of preferred stock.

Series A Preferred Stock

Series B Preferred Stock

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 7 – COMMITMENTS AND CONTINGENCIES

Agreement to Explore a Shipwreck Site Located off of Melbourne Beach, Florida

Vessel and Trailer Rental and Purchase Agreement

Vehicle Rental and Purchase Agreement

Sonaar Rental and Purchase Agreement

Legal Proceedings

Certain Other Agreements

See Note 4 Operating Lease Right-of-Use Assets and Operating Lease Liabilities.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2024

RELATED PARTY TRANSACTIONS

NOTE 8 – RELATED PARTY TRANSACTIONS

During the three month periods ended March 31, 2024 and 2023, the Company has had extensive dealings with related parties including the following:

Three Month Period Ended March 31, 2024

Three Month Period Ended March 31, 2023

During the three month periods ended March 31, 2024 and 2023, the Company paid a person who is related to the Company’s CEO fees of $0 and $1,192 respectively, for clerical services.

Related Party Transactions

The Company’s related party transactions are not necessarily indicative of the terms that would not normally be agreeable to non related third parties.

Shareholder Loan

See Note 5 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default.

At March 31, 2024, the following promissory notes and shareholder loans were outstanding to related parties:

See Note 5 convertible notes payable – related parties, convertible notes payable – related parties, in default, and notes payable - related parties, in default.

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2024

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.

During the three month periods ended March 31, 2024 and 2023, 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 three month period ended March 31, 2024 is as follows:

	March 31, 2024		March 31, 2024			March 31, 2024
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	3,170		$	3,170

Total operating expenses		-		1,101,336			1,101,336

Net loss from operations	$	-	$	(1,098,166	)	$	(1,098,166	)

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2023 is as follows:

	March 31, 2023		March 31, 2023			March 31, 2023
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	-		$	-

Total operating expenses		-		974,381			974,381

Net loss from operations	$	-	$	(974,381	)	$	(974,381	)

SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2024

Subsequent Events

SUBSEQUENT EVENTS

NOTE 10 – SUBSEQUENT EVENTS

Subsequent to March 31, 2024, the Company issued or has agreed to issue shares of its common stock as follows:

(i)

sales of 9,800,000 shares of restricted common stock under subscription agreements for proceeds received of approximately $71,750; and

(ii)	the issuance of 10,666,645 shares of restricted common stock that were owed under subscription agreements from the period ended March 31, 2024 but that were not issued in the period due to administrative time lag.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements of the Company include the accounts of the Company and Blockchain which is a wholly owned subsidiary. Intercompany accounts and transactions have been eliminated in consolidation.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the unaudited condensed consolidated statements of cash flows, the Company considers all highly liquid investments and short-term debt instruments with original maturities of three months or less to be cash equivalents. There were no cash equivalents at March 31, 2024 and December 31, 2023. Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At March 31, 2024, the Company had deposits that were $235,102 in excess of the FDIC insured limit.
Research and Development Expenses	Research and Development Expenses Expenditures for research and development are expensed as incurred. The Company incurred research and development expenses of $131,928 and $32,100 for the three month periods ended March 31, 2024 and 2023, respectively.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) and all the related amendments. The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company recognizes revenue from the referrals that Blockchain has made to providers of software services when payment for a referral is received from the provider of software services. Blockchain, at its sole discretion and with no specific sales quotas or targets, provides referrals of potential end users to the software service providers and is paid a referral fee only after the software services providers receive payment from the end user. The Company also has a separate sales referral agreement, with no sales quotas or specific goals or targets, with a limited liability company that provides product/system engineering and development services. The Company’s performance obligation is met when the payment from the customer is received by the provider of the development services, which is at a point in time. The Company receives referral fees when payment is received from the provider of the product/system development services which is when the Company recognizes revenue under the agreement. The Company recognizes revenue when cash is received or when it has met its obligations per the terms of a contract or agreement for services. Payments received for services are recorded as deferred revenue and are recognized as revenue when the services have been provided. During 2021 the Company entered into an agreement to provide scanning services using its SeaSearcher technology to a corporation involved in searching for historic shipwreck material. Under the terms of the agreement the Company received an upfront payment of $140,000 which has been included in the accompanying unaudited condensed consolidated balance sheets at March 31, 2024 and December 31, 2023 as deferred revenue as the services have not yet been provided.
Earnings Per Share	Earnings Per Share The Company has adopted the FASB ASC 260-10, Earnings per Share, which provides for the calculation of “basic” and “diluted” earnings per share. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common stockholders by the weighted average common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. The potentially dilutive common stock equivalents for the three month periods ended March 31, 2024 and 2023 were excluded from the dilutive loss per share calculation as they would be antidilutive due to the net loss. As of March 31, 2024 and 2023, there were approximately 606,961,668 and 717,620,292 shares of common stock underlying our outstanding convertible notes payable and warrants, respectively.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of financial assets and liabilities, such as cash, accounts payable, accrued expenses, convertible notes payable and payables, approximate their fair values because of the short maturity of these instruments.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at historical cost. Depreciation is computed on the straight-line method over the estimated useful lives of the respective assets. Depreciation expense on property, plant and equipment was $5,465 for the three month periods ended March 31, 2024 and 2023, which is included in operating expenses in the accompanying unaudited condensed consolidated statements of operations.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets In accordance with ASC 360-10, Impairment and Disposal of Long Lived Assets, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. There were no impairment charges recorded during the three month periods ended March 31, 2024 and 2023.
Use of Estimates	Use of Estimates The process of preparing condensed consolidated financial statements in conformity with GAAP requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Significant estimates for the three month periods ended March 31, 2024 and 2023 include the useful life of property, plant and equipment, valuation allowances against deferred tax assets, the fair value of non cash equity transactions, and impairment of long-lived assets.
Segment Information	Segment Information During 2019, Seafarer’s wholly owned subsidiary, Blockchain began operations, generated revenue and incurred expenses. The business of Blockchain has no relation to the Company’s historic shipwreck exploration and recovery operations other than common ownership. As such, the Company concluded that the operations of Blockchain and Seafarer Exploration were separate reportable segments as of the three month periods ended March 31, 2024 and 2023 (see Note 9 – Segment Information).
Convertible Debentures	Convertible Debentures The Company adopted the guidance in Accounting Standards Update (“ASU”) 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity on January 1, 2022. ASU 2020-06 simplifies an issuer’s accounting for convertible instruments and its application of the derivatives scope exception for contracts in its own equity. Additionally, ASU 2020-06 removes the requirements for accounting for beneficial conversion features. The Company adopted ASU 2020-06 utilizing the modified retrospective method, which resulted in an immaterial impact to the Company.
Fair Value Measurements and Fair Value of Financial Instruments	Fair Value Measurements and Fair Value of Financial Instruments The Company adopted ASC Topic 820, Fair Value Measurements. ASC Topic 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date. Level 2: Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data. Level 3: Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information. The estimated fair value of certain financial instruments, including all current liabilities are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments. The inputs to the valuation methodology of stock options and warrants were under level 3 fair value measurements. ASC subtopic 825-10, Financial Instruments (“ASC 825-10”) requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities as reflected in the condensed consolidated balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the condensed consolidated financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed. The Company follows ASC subtopic 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”) and ASC 825-10, which permits entities to choose to measure many financial instruments and certain other items at fair value.
Stock Based Compensation	Stock Based Compensation The Company applies the fair value method of FASB ASC 718, Share Based Payment, in accounting for its stock-based compensation. The standard states that compensation cost is measured at the grant date based on the fair value of the award and is recognized over the service period. The Company values stock-based compensation at the market price for the Company’s common stock and other pertinent factors at the grant date. Fully vested and non-forfeitable shares issued prior to the services being performed are classified as unearned compensation.
Leases	Leases The Company accounts for leases under ASU 2016-02. At the inception of a contract the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the period, and (3) whether it has the right to direct the use of the asset. The Company will allocate the consideration in the contract to each lease component based on its relative stand-alone price to determine the lease payments. Operating lease right of use (“ROU”) assets represents the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is presented in operating expenses on the unaudited condensed consolidated statements of operations. Finance leases are recorded as a finance lease liability and property, plant and equipment asset, based on the present value of lease payments. The asset is depreciated, and the liability is amortized with interest expense incurred over the life of the lease. As permitted under the new guidance, the Company has made an accounting policy election not to apply the recognition provisions of the guidance to short term leases (leases with a lease term of twelve months or less that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise); instead, the Company will recognize the lease payments for short term leases on a straight-line basis over the lease term.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.
Subsequent Events	Subsequent Events It is the Company’s policy to evaluate all events that occur after the balance sheet date through the date when the condensed consolidated financial statements were issued to determine if they must be reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements All other recent accounting pronouncements issued by the FASB, including ASU 2023-07 and 2023-09, did not or are not believed by management to have a material impact on the Company’s present or future condensed consolidated financial statements.

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Schedule of right-of- use assets

Right-of-use assets at March 31, 2024 and December 31, 2023 are summarized below:

Schedule of right-of- use assets

	March 31, 2024			December 31, 2023
Office lease	$	37,502		$	37,502
Less accumulated amortization		(11,682	)		(7,212	)
Right of use assets, net	$	25,820		$	30,290

Schedule of operating lease liabilities

Operating Lease liabilities are summarized below:

Schedule of operating lease liabilities

	March 31, 2024			December 31, 2023
Office lease	$	26,088		$	30,457
Less: current portion		(19,154	)		(18,483	)
Long term portion	$	6,934		$	11,974

Schedule of Maturity of lease liabilities

Maturity of lease liabilities are as follows:


Year ended December 31, 2024	$	15,495
Year ended December 31, 2025		12,261
Total future minimum lease payments		27,756
Less: Present value discount		(1,668	)
Lease liability	$	26,088

Schedule of Finance Right-Of-Use Assets

Finance right of use assets are summarized below:

Schedule of Finance Right-Of-Use Assets

	March 31,			December 31,
	2024			2023
Vehicle lease	$	53,100		$	53,100
Vessel lease		70,849			70,849
Sonar lease		18,987			18,987
		142,936			142,936
Less accumulated amortization		(33,960	)		(26,915	)
Finance right of use asset	$	108,976		$	116,021

Schedule of Finance Lease Liabilities

Finance lease liabilities are summarized below:

Schedule of Finance Lease Liabilities

	March 31,			December 31,
	2024			2023
Vehicle lease	$	42,862		$	45,034
Vessel lease		57,187			60,085
Sonar lease		16,298			17,061
Total Lease Liabilities		116,347			122,180
Less: current portion		(25,150	)		(22,263	)
Long term portion	$	91,197		$	99,917

Schedule of Future minimum lease payments

Maturity of lease liabilities are as follows:


Year Ended December 31, 2024	$	28,319
Year Ended December 31, 2025		37,758
Year Ended December 31, 2026		37,758
Year Ended December 31, 2027		37,758
Thereafter		4,414
Total future minimum lease payments		146,007
Less imputed interest		(29,660	)
PV of payments	$	116,347

Schedule of Expenses with respect to Finance Leases

	March 31,		March 31,
	2024		2023
Finance lease amortization	$	33,960	$	6,123
Finance lease interest		3,607		3,629
Total finance lease expense	$	37,567	$	9,752

Schedule of Weighted Average Remaining Lease Team and Average Discount on Finance Leases

The weighted average remaining lease term and the weighted average discount rate on the finance leases at March 31, 2024 and December 31, 2023 are set forth below.

	March 31,	December 31,
	2024	2023
Weighted average remaining lease term	3.87 years	4.75 years
Weighted average discount rate	12%	12%

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Tables)

3 Months Ended

Mar. 31, 2024

Convertible Notes Payable And Notes Payable

Schedule of Convertible Notes Payable

The following tables reflect the convertible notes payable at March 31, 2024 and December 31, 2023:

Schedule of Convertible Notes Payable

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate	Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable
Notes payable, Face Value	03/18/24	03/18/25	$	50,000	$	-	6.00%	Variable
Notes payable, Face Value	03/28/24	03/28/25		100,000		-	6.00%	Variable
Total				150,000		-
Less unamortized discounts				45,054		-
Balance convertible notes payable			$	104,946	$	-

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate			Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable - in default
Notes payable, Face Value	08/28/09	11/01/09	$	4,300	$	4,300		10.00	%		0.0150
Notes payable, Face Value	11/20/12	05/20/13		50,000		50,000		6.00	%		0.0050
Notes payable, Face Value	01/19/13	07/30/13		5,000		5,000		6.00	%		0.0040
Notes payable, Face Value	02/11/13	08/11/13		9,000		9,000		6.00	%		0.0060
Notes payable, Face Value	09/25/13	03/25/14		10,000		10,000		6.00	%		0.0125
Notes payable, Face Value	10/04/13	04/04/14		50,000		50,000		6.00	%		0.0125
Notes payable, Face Value	05/15/14	11/15/14		40,000		40,000		6.00	%		0.0070
Notes payable, Face Value	09/18/15	03/18/16		25,000		25,000		6.00	%		0.0020
Notes payable, Face Value	07/19/16	07/19/17		4,000		4,000		6.00	%		0.0015
Notes payable, Face Value	02/06/18	11/07/18		6,000		6,000		6.00	%		0.0006
Notes payable, Face Value	03/06/18	09/06/18		6,000		6,000		6.00	%		0.0006
Notes payable, Face Value	01/03/19	07/03/19		1,000		1,000		6.00	%		0.0010
Notes payable, Face Value	09/04/19	03/04/20		25,000		25,000		6.00	%		0.0030
Notes payable, Face Value	09/18/23	10/18/23		-		120,000		6.00	%		0.0020
Balance convertible notes payable - in default			$	235,300	$	355,300

	Issue Date	Maturity Date	March 31, 2024		December 31, 2023		Rate			Conversion Price
			Principal Balance		Principal Balance
Convertible notes payable - related parties, in default
Notes payable, Face Value	01/09/09	01/09/10	$	10,000	$	10,000		10.00	%		0.0150
Notes payable, Face Value	01/25/10	01/25/11		6,000		6,000		6.00	%		0.0050
Notes payable, Face Value	01/18/12	07/18/12		50,000		50,000		8.00	%		0.0040
Notes payable, Face Value	01/19/13	07/30/13		15,000		15,000		6.00	%		0.0040
Notes payable, Face Value	07/26/13	01/26/14		10,000		10,000		6.00	%		0.0100
Notes payable, Face Value	01/17/14	07/17/14		31,500		31,500		6.00	%		0.0060
Notes payable, Face Value	05/27/14	11/27/14		7,000		7,000		6.00	%		0.0070
Notes payable, Face Value	07/21/14	01/25/15		17,000		17,000		6.00	%		0.0080
Notes payable, Face Value	10/16/14	04/16/15		21,000		21,000		6.00	%		0.0045
Notes payable, Face Value	07/14/15	01/14/16		9,000		9,000		6.00	%		0.0030
Notes payable, Face Value	01/12/16	07/12/16		5,000		5,000		6.00	%		0.0020
Notes payable, Face Value	05/10/16	11/10/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	05/10/16	11/10/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	05/20/16	11/20/16		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	07/12/16	01/12/17		2,400		2,400		6.00	%		0.0006
Notes payable, Face Value	01/26/17	03/12/17		5,000		5,000		6.00	%		0.0005
Notes payable, Face Value	02/14/17	08/14/17		25,000		25,000		6.00	%		0.0008
Notes payable, Face Value	08/16/17	09/16/17		3,000		3,000		6.00	%		0.0008
Notes payable, Face Value	01/09/18	01/09/19		12,000		12,000		6.00	%		0.0006
Notes payable, Face Value	03/14/18	05/14/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	04/04/18	06/04/18		3,000		3,000		6.00	%		0.0007
Notes payable, Face Value	04/11/18	06/11/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	05/08/18	07/08/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	05/30/18	08/30/18		25,000		25,000		6.00	%		0.0007
Notes payable, Face Value	06/12/18	09/12/18		3,000		3,000		6.00	%		0.0007
Notes payable, Face Value	06/20/18	09/12/18		500		500		6.00	%		0.0007
Notes payable, Face Value	08/27/18	02/27/19		2,000		2,000		6.00	%		0.0007
Notes payable, Face Value	10/02/18	04/02/19		1,000		1,000		6.00	%		0.0008
Notes payable, Face Value	10/23/18	04/23/19		4,200		4,200		6.00	%		0.0007
Notes payable, Face Value	11/07/18	05/07/19		2,000		2,000		6.00	%		0.0008
Notes payable, Face Value	11/14/18	05/14/19		8,000		8,000		6.00	%		0.0008
Notes payable, Face Value	01/08/19	07/08/19		7,000		7,000		6.00	%		0.0008
Notes payable, Face Value	04/25/19	12/23/19		20,000		20,000		6.00	%		0.0040
Notes payable, Face Value	06/07/19	12/07/19		5,100		5,100		6.00	%		0.0030
Notes payable, Face Value	09/17/19	04/17/20		12,000		12,000		6.00	%		0.0030
Notes payable, Face Value	11/12/19	05/12/20		25,000		25,000		6.00	%		0.0025
Notes payable, Face Value	11/26/19	05/26/20		25,200		25,200		6.00	%		0.0030
Notes payable, Face Value	12/03/19	06/03/20		15,000		15,000		6.00	%		0.0030
Notes payable, Face Value	01/07/20	06/20/20		51,000		51,000		6.00	%		0.0030
Notes payable, Face Value	08/06/20	02/06/21		25,200		25,200		6.00	%		0.0035
Notes payable, Face Value	08/06/20	02/06/21		35,000		35,000		6.00	%		0.0035
Notes payable, Face Value	08/14/20	02/14/21		50,400		50,400		6.00	%		0.0035
Notes payable, Face Value	10/31/21	04/13/22		3,000		3,000		2.00	%		0.0020
Notes payable, Face Value	11/10/21	05/10/22		3,000		3,000		2.00	%		0.0020
Notes payable, Face Value	07/06/22	01/06/23		20,000		20,000		6.00	%		0.0015
Notes payable, Face Value	07/29/22	01/28/23		10,000		10,000		6.00	%		0.0020
Notes payable, Face Value	08/04/22	02/04/23		10,000		10,000		6.00	%		0.0020
Notes payable, Face Value	07/24/23	09/24/23		5,000		5,000		1.00	%		0.00175
Notes payable, Face Value	08/02/23	10/01/23		-		100,000		6.00	%		0.0020

Balance convertible notes payable - related parties, in default			$	689,500	$	789,500

Balance all convertible notes payable			$	936,342	$	1,144,800

Schedule of Notes Payable

The following tables reflect the notes payable at March 31, 2024 and December 31, 2023:

Schedule of Notes Payable

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable
Notes payable, Face Value	11/10/23	11/10/24	$	500,000		$	500,000			6.00	%
Notes payable, Face Value	02/28/24	02/28/25		350,000			-			6.00	%
Total				850,000			500,000
Less unamortized discounts				(67,708	)		(95,214	)
Balance notes payable			$	782,292		$	404,786

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable - in default
Notes payable, Face Value	04/27/11	04/27/12	$	5,000		$	5,000			6.00	%
Notes payable, Face Value	12/14/17	12/14/18		2,000			2,000			6.00	%
Notes payable, Face Value	11/29/17	11/29/19		105,000			105,000			2.06	%
Balance notes payable – default			$	112,000		$	112,000

	Issue Date	Maturity Date	March 31, 2024			December 31, 2023			Rate
			Principal Balance			Principal Balance
Notes payable - related parties, in default
Notes payable, Face Value	02/24/10	02/24/11	$	7,500		$	7,500			6.00	%
Notes payable, Face Value	10/06/15	11/15/15		10,000			10,000			6.00	%
Notes payable, Face Value	02/08/18	04/09/18		1,000			1,000			6.00	%
Balance notes payable - related parties, in default			$	18,500		$	18,500

Balance all notes payable			$	912,792		$	535,286

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2024 is as follows:

	March 31, 2024		March 31, 2024			March 31, 2024
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	3,170		$	3,170

Total operating expenses		-		1,101,336			1,101,336

Net loss from operations	$	-	$	(1,098,166	)	$	(1,098,166	)

Segment information relating to the Company’s two operating segments for the three month period ended March 31, 2023 is as follows:

	March 31, 2023		March 31, 2023			March 31, 2023
	Blockchain LogisTech, LLC		Seafarer Exploration Corp.			Consolidated
Service revenues	$	-	$	-		$	-

Total operating expenses		-		974,381			974,381

Net loss from operations	$	-	$	(974,381	)	$	(974,381	)

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retained Earnings (Accumulated Deficit)	$ 29,659,528		$ 28,347,458
Net Income (Loss) Attributable to Parent	1,312,070	$ 991,370
Working Capital Defecit	$ 2,201,635

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Cash, FDIC Insured Amount	$ 250,000		$ 250,000
Cash, Uninsured Amount	235,102
Research and Development Expense	$ 131,928	$ 32,100
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	606,961,668	717,620,292
Depreciation	$ 5,465	$ 5,465

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Office lease	$ 37,502	$ 37,502
Less accumulated amortization	(11,682)	(7,212)
Right of use assets, net	$ 25,820	$ 30,290

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 2) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Office lease	$ 26,088	$ 30,457
Less: current portion	(19,154)	(18,483)
Long term portion	$ 6,934	$ 11,974

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 3) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Year ended December 31, 2024	$ 15,495
Year ended December 31, 2025	12,261
Total future minimum lease payments	27,756
Less: Present value discount	(1,668)
Lease liability	$ 26,088	$ 30,457

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 4) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Finance right of use asset before Accumulated Amortization	$ 142,936	$ 142,936
Less accumulated amortization	(33,960)	(26,915)
Finance right of use asset	108,976	116,021
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Finance right of use asset before Accumulated Amortization	53,100	53,100
Containers [Member]
Property, Plant and Equipment [Line Items]
Finance right of use asset before Accumulated Amortization	70,849	70,849
Sonar [Member]
Property, Plant and Equipment [Line Items]
Finance right of use asset before Accumulated Amortization	$ 18,987	$ 18,987

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 5) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total Lease Liabilities	$ 116,347	$ 122,180
Less: current portion	(25,150)	(22,263)
Long term portion	91,197	99,917
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total Lease Liabilities	42,862	45,034
Containers [Member]
Property, Plant and Equipment [Line Items]
Total Lease Liabilities	57,187	60,085
Sonar [Member]
Property, Plant and Equipment [Line Items]
Total Lease Liabilities	$ 16,298	$ 17,061

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 6) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Year Ended December 31, 2024	$ 28,319
Year Ended December 31, 2025	37,758
Year Ended December 31, 2026	37,758
Year Ended December 31, 2027	37,758
Thereafter	4,414
Total future minimum lease payments	146,007
Less imputed interest	(29,660)
PV of payments	$ 116,347	$ 122,180

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 7) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Finance lease amortization	$ 33,960	$ 6,123
Finance lease interest	3,607	3,629
Total finance lease expense	$ 37,567	$ 9,752

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details 8)	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	3 years 10 months 13 days	4 years 9 months
Operating Lease, Weighted Average Discount Rate, Percent	12.00%	12.00%

RIGHT-OF-USE ASSETS AND OPERATING AND FINANCE LEASE LIABILITIES (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Jul. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jul. 31, 2025	Jul. 31, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Monthly Rents	$ 1,611	$ 9,388	$ 13,769		$ 1,612	$ 1,564	$ 1,519	$ 1,475
Operating Lease, Expense		$ 5,154	$ 4,601
Subsequent Event [Member]
Monthly Rents				$ 1,676

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Short-Term Debt [Line Items]
Convertible Notes Payable, Discount	$ 45,054	$ 0
Convertible Notes Payable, Current	104,946
Convertible Notes Payable	936,342	1,144,800
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	150,000
Debt Instrument, Face Amount
Debt Instrument, Face Amount	$ 150,000
Convertible Notes Payable [Member] \| Notes Issued 03/18/24 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Mar. 18, 2024
Debt Instrument, Maturity Date	Mar. 18, 2025
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Face Amount
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 50,000
Convertible Notes Payable [Member] \| Notes Issued 03/28/24 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Mar. 28, 2024
Debt Instrument, Maturity Date	Mar. 28, 2025
Debt Instrument, Face Amount	$ 100,000
Debt Instrument, Face Amount
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 100,000
Convertible Notes Payable, In Default [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	235,300
Debt Instrument, Face Amount	$ 235,300		$ 355,300
Convertible Notes Payable, In Default [Member] \| Notes Issued 08/28/09 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 28, 2009
Debt Instrument, Maturity Date	Nov. 01, 2009
Debt Instrument, Face Amount	$ 4,300
Debt Instrument, Face Amount	$ 4,300
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Debt Instrument, Face Amount	$ 4,300	4,300
Debt Instrument, Convertible, Conversion Price	$ 0.0150
Convertible Notes Payable, In Default [Member] \| Notes Issued 11/20/12 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 20, 2012
Debt Instrument, Maturity Date	May 20, 2013
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 50,000	50,000
Debt Instrument, Convertible, Conversion Price	$ 0.0050
Convertible Notes Payable, In Default [Member] \| Notes Issued 01/19/13 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 19, 2013
Debt Instrument, Maturity Date	Jul. 30, 2013
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.0040
Convertible Notes Payable, In Default [Member] \| Notes Issued 02/11/13 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Feb. 11, 2013
Debt Instrument, Maturity Date	Aug. 11, 2013
Debt Instrument, Face Amount	$ 9,000
Debt Instrument, Face Amount	$ 9,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 9,000	9,000
Debt Instrument, Convertible, Conversion Price	$ 0.0060
Convertible Notes Payable, In Default [Member] \| Notes Issued 09/25/13 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Sep. 25, 2013
Debt Instrument, Maturity Date	Mar. 25, 2014
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 10,000	10,000
Debt Instrument, Convertible, Conversion Price	$ 0.0125
Convertible Notes Payable, In Default [Member] \| Notes Issued 10/04/13 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 04, 2013
Debt Instrument, Maturity Date	Apr. 04, 2014
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 50,000	50,000
Debt Instrument, Convertible, Conversion Price	$ 0.0125
Convertible Notes Payable, In Default [Member] \| Notes Issued 05/15/14 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 15, 2014
Debt Instrument, Maturity Date	Nov. 15, 2014
Debt Instrument, Face Amount	$ 40,000
Debt Instrument, Face Amount	$ 40,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 40,000	40,000
Debt Instrument, Convertible, Conversion Price	$ 0.0070
Convertible Notes Payable, In Default [Member] \| Notes Issued 09/15/15 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Sep. 18, 2015
Debt Instrument, Maturity Date	Mar. 18, 2016
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.0020
Convertible Notes Payable, In Default [Member] \| Notes Issued 07/19/16 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 19, 2016
Debt Instrument, Maturity Date	Jul. 19, 2017
Debt Instrument, Face Amount	$ 4,000
Debt Instrument, Face Amount	$ 4,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 4,000	4,000
Debt Instrument, Convertible, Conversion Price	$ 0.0015
Convertible Notes Payable, In Default [Member] \| Notes Issued 02/06/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Feb. 06, 2018
Debt Instrument, Maturity Date	Nov. 07, 2018
Debt Instrument, Face Amount	$ 6,000
Debt Instrument, Face Amount	$ 6,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 6,000	6,000
Debt Instrument, Convertible, Conversion Price	$ 0.0006
Convertible Notes Payable, In Default [Member] \| Notes Issued 03/06/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Mar. 06, 2018
Debt Instrument, Maturity Date	Sep. 06, 2018
Debt Instrument, Face Amount	$ 6,000
Debt Instrument, Face Amount	$ 6,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 6,000	6,000
Debt Instrument, Convertible, Conversion Price	$ 0.0006
Convertible Notes Payable, In Default [Member] \| Notes Issued 01/03/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 03, 2019
Debt Instrument, Maturity Date	Jul. 03, 2019
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 1,000	1,000
Debt Instrument, Convertible, Conversion Price	$ 0.0010
Convertible Notes Payable, In Default [Member] \| Notes Issued 09/04/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Sep. 04, 2019
Debt Instrument, Maturity Date	Mar. 04, 2020
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.0030
Convertible Notes Payable, In Default [Member] \| Notes Issued 09/18/23 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Sep. 18, 2023
Debt Instrument, Maturity Date	Oct. 18, 2023
Debt Instrument, Face Amount
Debt Instrument, Face Amount	$ 120,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount		120,000
Debt Instrument, Convertible, Conversion Price	$ 0.0020
Convertible Notes Payable - Related Parties, In Default [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	$ 689,500
Debt Instrument, Face Amount		689,500	$ 789,500
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/19/13 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 19, 2013
Debt Instrument, Maturity Date	Jul. 30, 2013
Debt Instrument, Face Amount	$ 15,000
Debt Instrument, Face Amount	$ 15,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 15,000	15,000
Debt Instrument, Convertible, Conversion Price	$ 0.000040
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/09/09 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 09, 2009
Debt Instrument, Maturity Date	Jan. 09, 2010
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	10.00%
Debt Instrument, Face Amount	$ 10,000	10,000
Debt Instrument, Convertible, Conversion Price	$ 0.000150
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/25/10 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 25, 2010
Debt Instrument, Maturity Date	Jan. 25, 2011
Debt Instrument, Face Amount	$ 6,000
Debt Instrument, Face Amount	$ 6,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 6,000	6,000
Debt Instrument, Convertible, Conversion Price	$ 0.000050
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/18/12 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 18, 2012
Debt Instrument, Maturity Date	Jul. 18, 2012
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Interest Rate, Stated Percentage	8.00%
Debt Instrument, Face Amount	$ 50,000	50,000
Debt Instrument, Convertible, Conversion Price	$ 0.000040
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/26/13 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 26, 2013
Debt Instrument, Maturity Date	Jan. 26, 2014
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 10,000	10,000
Debt Instrument, Convertible, Conversion Price	$ 0.000100
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/17/14 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 17, 2014
Debt Instrument, Maturity Date	Jul. 17, 2014
Debt Instrument, Face Amount	$ 31,500
Debt Instrument, Face Amount	$ 31,500
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 31,500	31,500
Debt Instrument, Convertible, Conversion Price	$ 0.000060
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 05/27/14 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 27, 2014
Debt Instrument, Maturity Date	Nov. 27, 2014
Debt Instrument, Face Amount	$ 7,000
Debt Instrument, Face Amount	$ 7,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 7,000	7,000
Debt Instrument, Convertible, Conversion Price	$ 0.000070
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/21/14 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 21, 2014
Debt Instrument, Maturity Date	Jan. 25, 2015
Debt Instrument, Face Amount	$ 17,000
Debt Instrument, Face Amount	$ 17,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 17,000	17,000
Debt Instrument, Convertible, Conversion Price	$ 0.000080
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 10/16/14 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 16, 2014
Debt Instrument, Maturity Date	Apr. 16, 2015
Debt Instrument, Face Amount	$ 21,000
Debt Instrument, Face Amount	$ 21,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 21,000	21,000
Debt Instrument, Convertible, Conversion Price	$ 0.000045
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/14/15 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 14, 2015
Debt Instrument, Maturity Date	Jan. 14, 2016
Debt Instrument, Face Amount	$ 9,000
Debt Instrument, Face Amount	$ 9,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 9,000	9,000
Debt Instrument, Convertible, Conversion Price	$ 0.000030
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/12/16 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 12, 2016
Debt Instrument, Maturity Date	Jul. 12, 2016
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.000020
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 05/10/16 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 10, 2016
Debt Instrument, Maturity Date	Nov. 10, 2016
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.000005
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 05/10/16 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 10, 2016
Debt Instrument, Maturity Date	Nov. 10, 2016
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.000005
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 05/20/16 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 20, 2016
Debt Instrument, Maturity Date	Nov. 20, 2016
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.000005
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/12/16 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 12, 2016
Debt Instrument, Maturity Date	Jan. 12, 2017
Debt Instrument, Face Amount	$ 2,400
Debt Instrument, Face Amount	$ 2,400
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 2,400	2,400
Debt Instrument, Convertible, Conversion Price	$ 0.000006
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/26/17 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 26, 2017
Debt Instrument, Maturity Date	Mar. 12, 2017
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.000005
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 02/14/17 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Feb. 14, 2017
Debt Instrument, Maturity Date	Aug. 14, 2017
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.000008
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/16/17 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 16, 2017
Debt Instrument, Maturity Date	Sep. 16, 2017
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 3,000	3,000
Debt Instrument, Convertible, Conversion Price	$ 0.000008
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/09/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 09, 2018
Debt Instrument, Maturity Date	Jan. 09, 2019
Debt Instrument, Face Amount	$ 12,000
Debt Instrument, Face Amount	$ 12,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 12,000	12,000
Debt Instrument, Convertible, Conversion Price	$ 0.000006
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 03/14/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Mar. 14, 2018
Debt Instrument, Maturity Date	May 14, 2018
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 04/04/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Apr. 04, 2018
Debt Instrument, Maturity Date	Jun. 04, 2018
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 3,000	3,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 04/11/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Apr. 11, 2018
Debt Instrument, Maturity Date	Jun. 11, 2018
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 05/08/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 08, 2018
Debt Instrument, Maturity Date	Jul. 08, 2018
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 05/30/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	May 30, 2018
Debt Instrument, Maturity Date	Aug. 30, 2018
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 06/12/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jun. 12, 2018
Debt Instrument, Maturity Date	Sep. 12, 2018
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 3,000	3,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 06/20/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jun. 20, 2018
Debt Instrument, Maturity Date	Sep. 12, 2018
Debt Instrument, Face Amount	$ 500
Debt Instrument, Face Amount	$ 500
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 500	500
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/27/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 27, 2018
Debt Instrument, Maturity Date	Feb. 27, 2019
Debt Instrument, Face Amount	$ 2,000
Debt Instrument, Face Amount	$ 2,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 2,000	2,000
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 10/02/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 02, 2018
Debt Instrument, Maturity Date	Apr. 02, 2019
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 1,000	1,000
Debt Instrument, Convertible, Conversion Price	$ 0.000008
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 10/23/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 23, 2018
Debt Instrument, Maturity Date	Apr. 23, 2019
Debt Instrument, Face Amount	$ 4,200
Debt Instrument, Face Amount	$ 4,200
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 4,200	4,200
Debt Instrument, Convertible, Conversion Price	$ 0.000007
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 11/07/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 07, 2018
Debt Instrument, Maturity Date	May 07, 2019
Debt Instrument, Face Amount	$ 2,000
Debt Instrument, Face Amount	$ 2,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 2,000	2,000
Debt Instrument, Convertible, Conversion Price	$ 0.000008
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 11/14/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 14, 2018
Debt Instrument, Maturity Date	May 14, 2019
Debt Instrument, Face Amount	$ 8,000
Debt Instrument, Face Amount	$ 8,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 8,000	8,000
Debt Instrument, Convertible, Conversion Price	$ 0.000008
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/08/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 08, 2019
Debt Instrument, Maturity Date	Jul. 08, 2019
Debt Instrument, Face Amount	$ 7,000
Debt Instrument, Face Amount	$ 7,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 7,000	7,000
Debt Instrument, Convertible, Conversion Price	$ 0.000008
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 04/25/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Apr. 25, 2019
Debt Instrument, Maturity Date	Dec. 23, 2019
Debt Instrument, Face Amount	$ 20,000
Debt Instrument, Face Amount	$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 20,000	20,000
Debt Instrument, Convertible, Conversion Price	$ 0.000040
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 06/07/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jun. 07, 2019
Debt Instrument, Maturity Date	Dec. 07, 2019
Debt Instrument, Face Amount	$ 5,100
Debt Instrument, Face Amount	$ 5,100
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,100	5,100
Debt Instrument, Convertible, Conversion Price	$ 0.000030
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 09/17/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Sep. 17, 2019
Debt Instrument, Maturity Date	Apr. 17, 2020
Debt Instrument, Face Amount	$ 12,000
Debt Instrument, Face Amount	$ 12,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 12,000	12,000
Debt Instrument, Convertible, Conversion Price	$ 0.000030
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 11/12/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 12, 2019
Debt Instrument, Maturity Date	May 12, 2020
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Face Amount	$ 25,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,000	25,000
Debt Instrument, Convertible, Conversion Price	$ 0.000025
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 11/26/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 26, 2019
Debt Instrument, Maturity Date	May 26, 2020
Debt Instrument, Face Amount	$ 25,200
Debt Instrument, Face Amount	$ 25,200
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,200	25,200
Debt Instrument, Convertible, Conversion Price	$ 0.000030
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 12/03/19 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Dec. 03, 2019
Debt Instrument, Maturity Date	Jun. 03, 2020
Debt Instrument, Face Amount	$ 15,000
Debt Instrument, Face Amount	$ 15,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 15,000	15,000
Debt Instrument, Convertible, Conversion Price	$ 0.000030
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 01/07/20 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jan. 07, 2020
Debt Instrument, Maturity Date	Jun. 20, 2020
Debt Instrument, Face Amount	$ 51,000
Debt Instrument, Face Amount	$ 51,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 51,000	51,000
Debt Instrument, Convertible, Conversion Price	$ 0.000030
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/06/20 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 06, 2020
Debt Instrument, Maturity Date	Feb. 06, 2021
Debt Instrument, Face Amount	$ 25,200
Debt Instrument, Face Amount	$ 25,200
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 25,200	25,200
Debt Instrument, Convertible, Conversion Price	$ 0.000035
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/04/22 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 06, 2020
Debt Instrument, Maturity Date	Feb. 06, 2021
Debt Instrument, Face Amount	$ 35,000
Debt Instrument, Face Amount	$ 35,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 35,000	35,000
Debt Instrument, Convertible, Conversion Price	$ 0.000035
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/14/20 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 14, 2020
Debt Instrument, Maturity Date	Feb. 14, 2021
Debt Instrument, Face Amount	$ 50,400
Debt Instrument, Face Amount	$ 50,400
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 50,400	50,400
Debt Instrument, Convertible, Conversion Price	$ 0.000035
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 10/31/21 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 31, 2021
Debt Instrument, Maturity Date	Apr. 13, 2022
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	2.00%
Debt Instrument, Face Amount	$ 3,000	3,000
Debt Instrument, Convertible, Conversion Price	$ 0.000020
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 11/10/21 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 10, 2021
Debt Instrument, Maturity Date	May 10, 2022
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Face Amount	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	2.00%
Debt Instrument, Face Amount	$ 3,000	3,000
Debt Instrument, Convertible, Conversion Price	$ 0.000020
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/06/22 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 06, 2022
Debt Instrument, Maturity Date	Jan. 06, 2023
Debt Instrument, Face Amount	$ 20,000
Debt Instrument, Face Amount	$ 20,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 20,000	20,000
Debt Instrument, Convertible, Conversion Price	$ 0.000015
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/29/22 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 29, 2022
Debt Instrument, Maturity Date	Jan. 28, 2023
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 10,000	10,000
Debt Instrument, Convertible, Conversion Price	$ 0.000020
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/04/22 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 04, 2022
Debt Instrument, Maturity Date	Feb. 04, 2023
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 10,000	10,000
Debt Instrument, Convertible, Conversion Price	$ 0.000020
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 07/24/24 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Jul. 24, 2023
Debt Instrument, Maturity Date	Sep. 24, 2023
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Debt Instrument, Convertible, Conversion Price	$ 0.0000175
Convertible Notes Payable - Related Parties, In Default [Member] \| Notes Issued 08/02/23 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Aug. 02, 2023
Debt Instrument, Maturity Date	Oct. 01, 2023
Debt Instrument, Face Amount
Debt Instrument, Face Amount	$ 100,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount		$ 100,000
Debt Instrument, Convertible, Conversion Price	$ 0.000020

CONVERTIBLE NOTES PAYABLE AND NOTES PAYABLE (Details 2) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Short-Term Debt [Line Items]
Notes Payable, Discount	$ (67,708)	$ (95,214)
Notes Payable, Current	782,292	404,786
Notes Payable	912,792	535,286
Notes Payable [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	850,000
Debt Instrument, Face Amount	500,000
Debt Instrument, Face Amount	850,000	500,000
Notes Payable, Current	$ 782,292		$ 404,786
Notes Payable [Member] \| Notes Issued 12/02/21 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 10, 2023
Debt Instrument, Maturity Date	Nov. 10, 2024
Debt Instrument, Face Amount	$ 500,000
Debt Instrument, Face Amount	$ 500,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 500,000	500,000
Notes Payable [Member] \| Notes Issued 02/28/24 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Feb. 28, 2024
Debt Instrument, Maturity Date	Feb. 28, 2025
Debt Instrument, Face Amount	$ 350,000
Debt Instrument, Face Amount
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 350,000
Notes Payable, In Default [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	112,000
Debt Instrument, Face Amount	$ 112,000		112,000
Notes Payable, In Default [Member] \| Notes Issued 04/27/11 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Apr. 27, 2011
Debt Instrument, Maturity Date	Apr. 27, 2012
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Face Amount	$ 5,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 5,000	5,000
Notes Payable, In Default [Member] \| Notes Issued 12/14/17 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Dec. 14, 2017
Debt Instrument, Maturity Date	Dec. 14, 2018
Debt Instrument, Face Amount	$ 2,000
Debt Instrument, Face Amount	$ 2,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 2,000	2,000
Notes Payable, In Default [Member] \| Notes Issued 11/29/17 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Nov. 29, 2017
Debt Instrument, Maturity Date	Nov. 29, 2019
Debt Instrument, Face Amount	$ 105,000
Debt Instrument, Face Amount	$ 105,000
Debt Instrument, Interest Rate, Stated Percentage	2.06%
Debt Instrument, Face Amount	$ 105,000	105,000
Notes Payable - Related Parties, In Default [Member]
Short-Term Debt [Line Items]
Debt Instrument, Face Amount	18,500
Debt Instrument, Face Amount	$ 18,500		$ 18,500
Notes Payable - Related Parties, In Default [Member] \| Notes Issued 02/24/10 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Feb. 24, 2010
Debt Instrument, Maturity Date	Feb. 24, 2011
Debt Instrument, Face Amount	$ 7,500
Debt Instrument, Face Amount	$ 7,500
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 7,500	7,500
Notes Payable - Related Parties, In Default [Member] \| Notes Issued 10/06/15 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Oct. 06, 2015
Debt Instrument, Maturity Date	Nov. 15, 2015
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Face Amount	$ 10,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 10,000	10,000
Notes Payable - Related Parties, In Default [Member] \| Notes Issued 02/08/18 [Member]
Short-Term Debt [Line Items]
Debt Instrument, Issuance Date	Feb. 08, 2018
Debt Instrument, Maturity Date	Apr. 09, 2018
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Interest Rate, Stated Percentage	6.00%
Debt Instrument, Face Amount	$ 1,000	$ 1,000

STOCKHOLDERS’ DEFICIT (Details Narrative) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Common Stock, Shares Authorized	9,900,000,000	9,900,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	67	67
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Issued	7	7
Preferred Stock, Shares Outstanding	7	7

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Related Party Transaction [Line Items]
Professional and Contract Services Expense	$ 566,157	$ 519,486
Consultant [Member]
Related Party Transaction [Line Items]
Professional and Contract Services Expense	0	12,000
Limited Liability Company [Member]
Related Party Transaction [Line Items]
Insurance Commissions and Fees	$ 2,075	$ 0

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended
SEGMENT INFORMATION (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023
Service revenues	$ 3,170
Total operating expenses	1,101,336	974,381
Net loss from operations	(1,098,166)	(974,381)
Subsidiaries [Member]
Service revenues
Total operating expenses
Net loss from operations
Parent Company [Member]
Service revenues	3,170
Total operating expenses	1,101,336	974,381
Net loss from operations	$ (1,098,166)	$ (974,381)

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Restricted Stock [Member]	1 Months Ended
	Apr. 30, 2024 USD ($) shares
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Other	9,800,000
Stock Issued During Period, Value, Other \| $	$ 71,750
Common Stock to Be Issued [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock Issued During Period, Shares, Other	10,666,645