Alterola Biotech (ABTI) 10-K 14 Dec 20 2018 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Sep. 30, 2018	Oct. 15, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018
Current Fiscal Year End Date	--09-30
Entity File Number	333-156091
Entity Registrant Name	Alterola Biotech Inc.
Entity Central Index Key	0001442999
Entity Incorporation, State or Country Code	NV
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	No
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 Public Float		$ 100,000,000
Entity Common Stock, Shares Outstanding		330,980,000

Balance Sheets

Balance Sheets - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Current Assets
Funds in attorney trust account	$ 14,742
Deferred stock compensation	36,000
Total Current Assets	50,742
TOTAL ASSETS	50,742
Current Liabilities
Accounts payable	24,249	20,900
Accrued interest	1,360	98,028
Accrued director’s fees	60,000
Advances from related party	750	750
Current portion of notes payable	0	175,000
Total Current Liabilities	86,359	294,678
Non-current portion of notes payable	19,950
Total Liabilities	106,309	294,678
Stockholders’ Deficit
Preferred Stock, $.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding
Common Stock, $.001 par value, 140,000,000 shares authorized, 115,980,000 shares issued and outstanding	115,980	114,980
Additional paid-in capital	541,028	169,850
Accumulated deficit	(712,575)	(579,508)
Total Stockholders’ Deficit	(55,567)	(294,678)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 50,742

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Sep. 30, 2017
Statement of Financial Position [Abstract]
Common stock, Par Value	$ 0.001	$ 0.001
Common stock, Shares Authorized	140,000,000	140,000,000
Common stock, Issued	115,980,000	114,980,000
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Issued	0	0

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
REVENUES	$ 0	$ 0
OPERATING EXPENSES
Stock based compensation	54,000	37,000
Depreciation	0	2,583
Accounting and audit fees	1,000	1,000
Legal fees	7,208	8,208
Directors fees	60,000	0
General and administrative expenses	349	341
TOTAL OPERATING EXPENSES	122,557	49,132
LOSS FROM OPERATIONS	(122,557)	(49,132)
OTHER EXPENSE
Interest expense	(10,510)	(18,500)
TOTAL OTHER EXPENSE	(10,510)	(18,500)
PROVISION FOR INCOME TAXES	0	0
NET LOSS	$ (133,067)	$ (67,632)
NET INCOME (LOSS) PER SHARE: BASIC AND DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	115,617,308	114,980,000

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Deficit	Total
Beginning balance, shares at Sep. 30, 2015	114,980,000
Beginning balance, amount at Sep. 30, 2015	$ 114,980	$ 132,850	$ (489,229)	$ (241,469)
Common Stock surrendered for voluntary cancellation, shares
Common Stock surrendered for voluntary cancellation, amount
Common Stock issued for services, shares
Common Stock issued for services, amount
Net Income (Loss)			(22,577)	(22,577)
Ending balance, shares at Sep. 30, 2016	114,980,000
Ending balance, amount at Sep. 30, 2016	$ 114,980	132,850	(511,876)	(264,046)
Common Stock surrendered for voluntary cancellation, shares	(37,000,000)
Common Stock surrendered for voluntary cancellation, amount	$ (37,000)	37,000
Common Stock issued for services, shares	37,000,000
Common Stock issued for services, amount	$ 37,000			37,000
Net Income (Loss)			(67,632)	(67,632)
Ending balance, shares at Sep. 30, 2017	114,980,000
Ending balance, amount at Sep. 30, 2017	$ 114,980	169,850	(579,508)	$ (294,678)
Common Stock issued for services, shares	1,000,000			1,000,000
Common Stock issued for services, amount	$ 1,000	89,000		$ 90,000
Capital contributions from forgiveness of debt		282,178		282,178
Net Income (Loss)			(133,067)	(133,067)
Ending balance, shares at Sep. 30, 2018	115,980,000
Ending balance, amount at Sep. 30, 2018	$ 115,980	$ 541,028	$ (712,575)	$ (55,567)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$ (133,067)	$ (67,632)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	54,000	37,000
Depreciation	0	2,583
Changes in assets and liabilities:
Increase (decrease) in accrued expenses	63,349	9,549
Increase (decrease) in accrued interest	10,510	18,500
Increase (decrease) in due from attorney	(14,742)	0
Net Cash Used by Operating Activities	(19,950)	0
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of intellectual property	0	0
Website development	0	0
Net Cash Used by Investing Activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable	19,950	0
Net Cash Provided by Financing Activities	19,950	0
Net Increase (Decrease) in Cash and Cash Equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	0	0
Income taxes paid	0	0
NON-CASH INVESTING AND FINANCING INFORMATION
Deferred stock compensation	$ 36,000	$ 0

NATURE OF BUSINESS

NATURE OF BUSINESS	12 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS	NOTE 1 – NATURE OF BUSINESS Alterola Biotech, Inc. (“Alterola” and the “Company”) is a development stage company and was incorporated in Nevada on July 21, 2008. The Company was formed to acquire exploration and development stage mineral properties. On October 1, 2008, the Company incorporated JRE Exploration Ltd, (“JRE”) a wholly owned subsidiary in Canada to hold its Canadian mineral claims. On May 3, 2010, the Company changed its focus to the development of intellectual property and accordingly sold JRE to the former president. In keeping with the change of business focus, on July 9, 2010, the Company changed its name to Alterola Biotech Inc. In April 2017, the company entered into an assignment agreement with its director to convey all assets and intellectual property to its former director for the cancellation of 37,000,000 shares of the Company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Basis The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has a September 30 fiscal year end. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Equivalents For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. Funds in attorney trust account The company does not have its own bank account. Amounts due from attorney represents fund helds on behalf of the Company in trust by its legal counsel. Website Development Costs Costs incurred in developing and maintaining a website are charged to expense when incurred for the planning, content population, and administration or maintenance of the website. All development costs for the application, infrastructure, and graphics development are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs will be amortized using straight-line basis over two years, the estimated economic life of the completed website. Amortization expense for the Company’s website was $0 and $2,325 for the periods ended September 30, 2018 and 2017 respectively. Fair Value of Financial Instruments Alterola’s financial instruments consist of cash and equivalents, accrued expenses, accrued interest and notes payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value (“FV”)should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the FV of liabilities should include consideration of non-performance risk including our own credit risk. In addition to defining FV, the disclosure requirements around FV establish a FV hierarchy for valuation inputs which is expanded. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each FV measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 – inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. Level 2 – inputs are based upon significant observable inputs other than quoted prices included in Level 1, such as quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Fair Value of Financial Instruments (continued) Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The FV are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. The carrying value of the Company’s financial assets and liabilities which consist of cash, accounts payable and accrued liabilities, and notes payable are valued using level 1 inputs. The Company believes that the recorded values approximate their fair value due to the short maturity of such instruments. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, exchange or credit risks arising from these financial instruments. 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. Revenue Recognition On January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported Loss Per Common Share Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments. Stock-Based Compensation Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options During the year months ended September 30, 2018, the Company issued 1,000,000 shares of common stock to an officer for services rendered with a deemed value of services provided of $ 90,000 for services rendered from April 1, 2018 to January 31, 2019. As of September 30, 2018, $ 36,000 of stock- based compensation has been recorded as a prepaid expense. Recent Accounting Pronouncements Alterola does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

ACCOUNTS PAYABLE

ACCOUNTS PAYABLE	12 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE	NOTE 3 – ACCOUNTS PAYABLE Accounts Payable consisted of the following at September 30, 2018 and 2017: 2018 2017 Audit fees $ 1,000 $ 1,000 Accounting 4,350 3,600 Legal fees and transfer agent 18,899 16,300 Total Accounts Payable $ 24,249 $ 20,900

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE Notes payable consisted of the following at September 30, 2018 and September 30, 2017: September 30, 2018 September 30, 2017 Note payable, unsecured, bearing interest at 12%, due on June 26, 2011 $ 0 $ 30,000 Convertible note payable, unsecured, bearing interest at 12%, due on July 24, 2011 0 50,000 Note payable, unsecured, bearing interest at 10% plus financing charge of $2,500, due on October 10, 2013 0 27,500 Note payable, unsecured, bearing interest at 10% plus financing charge of $1,500, due on February 13, 2014 0 16,500 Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014 0 6,000 Note payable, unsecured, bearing interest at 10% , due on demand 0 20,000 Note payable, unsecured, bearing interest at 10% , due on demand 0 25,000 Note payable, secured by assets of the company, bearing interest at 5% due on April 25, 2023 19,950 0 19,950 175,000 Less: current portion 0 (175,000) Total Notes payable $ 19,950 $ 0 The Convertible note is convertible at the option of the holder. The number of shares of common stock into which the convertible note will be converted is determined by the Fair Market Price (“FMV”) of the common stock at the date of conversion. In the event there is no determinable market price the FMV shall be: a) The share price at the last private offering of the common stock, or, b) the 30 day moving average of the Common Stock in the event a public listing of the common stock has taken place. Interest expense was $10,510 and $18,500 for the years ended September 30, 2018 and 2017, respectively. The above 7 notes were forgiven by the holders and accounted for as a contribution to capital On March 28, 2018 the Company entered into agreements with its debt holders to forgive promissory notes and accrued interest of $ 282,178. As a result, the company has reclassified debt and interest payable to additional paid in equity for $ 282,178 in the financial statements for the year ended September 30, 2018. The following schedule represents the Company’s future debt payments as of September 30, 2018: 2019 $ — 2020 — 2021 — 2022 — 2023 19,950 Total 19,950

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Sep. 30, 2018
Equity [Abstract]
CAPITAL STOCK	NOTE 5 – CAPITAL STOCK The Company has 140,000,000 shares of $0.001 par value common stock authorized and 10,000,000 shares of $0.001 par value preferred stock authorized. On April 10, 2017, a former director of the Company surrendered for voluntary cancellation, 37,000,000 shares of common stock with a deemed value of $ 37,000. On April 10, 2017, the Company issued 37,000,000 shares of common stock to its director for services with a deemed value of $ 37,000. On June 28, 2018 the company issued one million common shares for consulting services with a deemed value of $90,000. As the services are to be provided over a period from April 1, 2018 to January 31, 2019, the company has recorded $63,000 as deferred stock based compensation. The Company has 115,980,000 and 114,980,000 shares of common stock issued and outstanding as of September 30, 2018 and September 30, 2017 respectively. There are no shares of preferred stock issued and outstanding as of September 30, 2018 and September 30, 2017.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 – RELATED PARTY TRANSACTIONS Alterola neither owns nor leases any real or personal property. An officer has provided office space without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future. During the year ended September 30, 2018, the Company accrued director’s fees payable of $ 60,000.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7 – INCOME TAXES Due to uncertainties surrounding the Company’s ability to generate future taxable income to realize these assets, a full valuation allowance has been established to offset the net deferred tax asset. The income tax effects of the Tax Cuts and Jobs Act have been completed in accordance with FASB ASC 740. The provision for income tax consists of the following components at September 30, 2018 and 2017: 2018 2017 Current: Federal income taxes (benefit) $ (45,243 ) $ (22,995) State income taxes — — Deferred Benefit from net operating loss — $ (45,243 ) $ (22,995) The following reconciles income taxes reported in the financial statements to taxes that would be obtained by applying regular tax rates to income before taxes: 2018 2017 Expected tax expense (benefit) using regular rates $ 45,243 $ 22,995 State minimum tax Valuation allowance (45,243 ) (22,995) Tax Provision $ — $ — The Company has loss carry forwards totaling $482,643 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2028 and 2038. At September 30, 2018 and 2017, the significant components of the deferred tax assets are summarized below: 2019 2018 Deferred income tax asset Net operation loss carryforwards 260,039 214,796 Total deferred income tax asset 260,039 214,796 Less: valuation allowance (260,039 ) (214,796) Total deferred income tax asset $ — $ — The federal income tax returns of the Company for 2018 and 2017 are subject to examination by the IRS, generally for three years after they were filed.

LIQUIDITY & GOING CONCERN

LIQUIDITY & GOING CONCERN	12 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY & GOING CONCERN	NOTE 8 – LIQUIDITY & GOING CONCERN Alterola has negative working capital, has incurred losses since inception, and has not received revenues from sales of products or services. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. The ability of Alterola to continue as a going concern is dependent on the Company generating cash from the sale of its common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plans include selling its equity securities and obtaining debt financing to fund its capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In accordance with ASC Topic 855-10, the Company analyzed its operations subsequent to September 30, 2018 to the date these financial statements were issued. On July 20, 2020, the Company appointed certain directors and officers. As part of the appointment, each individual received issuance of 1,000,000 shares of common stock, respectfully, valued at $10,000 per individual. On September 4, 2020, the Company issued 6,000,000 shares of common stock to the newly appointed Chief Executive Officer and Director, as compensation for services to the Company, valued at $60,000. On September 18, 2020, the Company issued 200,000,000 shares of common stock to Amsterdam Café Holdings Ltd, at a price of $0.001 per share, for total proceeds of $200,000. On December 2, 2020, the board of directors accepted the resignations of Irving Aronson as Chairman and Director, Peter Maddocks as CFO and Director, Oliver Aubrey as Chief Medical Officer and Director, Rene Lauritsen as COO and Director, and Larson Elmore as CEO. Dr. Daniel Reshef and Lalit Kumar will remain as Directors of the Board. Mr. Elmore will continue as Vice Chairman, Director and Secretary of our company. Also on December 2, 2020, we have appointed the following officers and directors: Tim Rogers as the CEO and Director, and Director, Dominic Schiller as Director & IP Counsel, Seamus McAuley as Chief Commercial Officer and Director, Daniel Reshef as Vice Chairman Medical Director and Zohar Koren as Advisory Medical Director.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Accounting Basis	The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has a September 30 fiscal year end.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.
Funds in attorney trust account	The company does not have its own bank account. Amounts due from attorney represents fund helds on behalf of the Company in trust by its legal counsel.
Website Development Costs	Costs incurred in developing and maintaining a website are charged to expense when incurred for the planning, content population, and administration or maintenance of the website. All development costs for the application, infrastructure, and graphics development are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs will be amortized using straight-line basis over two years, the estimated economic life of the completed website. Amortization expense for the Company’s website was $0 and $2,325 for the periods ended September 30, 2018 and 2017 respectively.
Fair Value of Financial Instruments	Alterola’s financial instruments consist of cash and equivalents, accrued expenses, accrued interest and notes payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value (“FV”)should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the FV of liabilities should include consideration of non-performance risk including our own credit risk. In addition to defining FV, the disclosure requirements around FV establish a FV hierarchy for valuation inputs which is expanded. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each FV measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: Level 1 – inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. Level 2 – inputs are based upon significant observable inputs other than quoted prices included in Level 1, such as quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The FV are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques. The carrying value of the Company’s financial assets and liabilities which consist of cash, accounts payable and accrued liabilities, and notes payable are valued using level 1 inputs. The Company believes that the recorded values approximate their fair value due to the short maturity of such instruments. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, exchange or credit risks arising from these financial instruments.
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.
Revenue Recognition	On January 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC 605. As of and for the year ended September 30, 2018, the financial statements were not materially impacted as a result of the application of Topic 606 compared to Topic 605.
Loss per common share	Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments.
Stock-Based Compensation	Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options During the year months ended September 30, 2018, the Company issued 1,000,000 shares of common stock to an officer for services rendered with a deemed value of services provided of $ 90,000 for services rendered from April 1, 2018 to January 31, 2019. As of September 30, 2018, $ 36,000 of stock- based compensation has been recorded as a prepaid expense.
Recent Accounting Pronouncements	Alterola does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

ACCOUNTS PAYABLE (Tables)

ACCOUNTS PAYABLE (Tables)	12 Months Ended
	Sep. 30, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable	2018 2017 Audit fees $ 1,000 $ 1,000 Accounting 4,350 3,600 Legal fees and transfer agent 18,899 16,300 Total Accounts Payable $ 24,249 $ 20,900

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
Schedule of Notes Payable Table	September 30, 2018 September 30, 2017 Note payable, unsecured, bearing interest at 12%, due on June 26, 2011 $ 0 $ 30,000 Convertible note payable, unsecured, bearing interest at 12%, due on July 24, 2011 0 50,000 Note payable, unsecured, bearing interest at 10% plus financing charge of $2,500, due on October 10, 2013 0 27,500 Note payable, unsecured, bearing interest at 10% plus financing charge of $1,500, due on February 13, 2014 0 16,500 Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014 0 6,000 Note payable, unsecured, bearing interest at 10% , due on demand 0 20,000 Note payable, unsecured, bearing interest at 10% , due on demand 0 25,000 Note payable, secured by assets of the company, bearing interest at 5% due on April 25, 2023 19,950 0 19,950 175,000 Less: current portion 0 (175,000) Total Notes payable $ 19,950 $ 0
Future debt payments	2019 $ — 2020 — 2021 — 2022 — 2023 19,950 Total 19,950

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Provisions for income tax	2018 2017 Current: Federal income taxes (benefit) $ (45,243 ) $ (22,995) State income taxes — — Deferred Benefit from net operating loss — $ (45,243 ) $ (22,995)
Reconciliation of income taxes	2018 2017 Expected tax expense (benefit) using regular rates $ 45,243 $ 22,995 State minimum tax Valuation allowance (45,243 ) (22,995) Tax Provision $ — $ —
Deferred tax assets	2019 2018 Deferred income tax asset Net operation loss carryforwards 260,039 214,796 Total deferred income tax asset 260,039 214,796 Less: valuation allowance (260,039 ) (214,796) Total deferred income tax asset $ — $ —

NATURE OF BUSINESS (Details Nar

NATURE OF BUSINESS (Details Narrative) - shares	Apr. 10, 2017	Sep. 30, 2018
Date of Incorporation		Jul. 21, 2008
Director
Common stock cancelled	37,000,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	9 Months Ended	10 Months Ended	12 Months Ended
	Jun. 30, 2017	Jan. 31, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Fiscal year end			--09-30
Amortization expense	$ 2,325		$ 0	$ 2,583
Common Stock issued for services			1,000,000
Common Stock issued for services, value		$ 90,000	$ 90,000	$ 37,000
Prepaid expense			$ 36,000

ACCOUNTS PAYABLE - Schedule of

ACCOUNTS PAYABLE - Schedule of Accounts Payable (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Payables and Accruals [Abstract]
Audit fees	$ 1,000	$ 1,000
Accounting	4,350	3,600
Legal fees and transfer agent	18,899	16,300
Total Accrued expenses	$ 24,249	$ 20,900

NOTES PAYABLE - Schedule of Not

NOTES PAYABLE - Schedule of Notes Payable Table (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 20, 2019	Sep. 30, 2018	Sep. 30, 2017
Less: current portion						$ 0	$ 175,000
Total Notes Payable	$ 19,950						0
Note Payable 1
Convertible note payable						0	30,000
Note Payable 2
Convertible note payable						0	50,000
Note Payable 3 Member
Convertible note payable						0	27,500
Note Payable 4
Convertible note payable						0	16,500
Note Payable 5
Convertible note payable						0	6,000
Note Payable 6
Convertible note payable						0	20,000
Note Payable 7
Convertible note payable						0	25,000
Note Payable 8
Convertible note payable						$ 19,950	$ 0

NOTES PAYABLE - Schedule of Fut

NOTES PAYABLE - Schedule of Future Debt Payments (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 20, 2019	Sep. 30, 2017
Future debt payments	$ 19,950					$ 0

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	9 Months Ended	12 Months Ended
	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Interest expense	$ 18,500	$ 10,510	$ 18,500
Gain on forgiveness of debt		$ (282,178)
Note Payable 1
Convertible notes payable, maturity date		Jun. 26, 2011
Convertible notes payable, interest rate		12.00%
Note Payable 2
Convertible notes payable, maturity date		Jul. 24, 2011
Convertible notes payable, interest rate		12.00%
Note Payable 3 Member
Convertible notes payable, maturity date		Oct. 10, 2013
Convertible notes payable, interest rate		10.00%
Finance charge		$ 2,500
Note Payable 4
Convertible notes payable, maturity date		Feb. 13, 2014
Convertible notes payable, interest rate		10.00%
Finance charge		$ 1,500
Note Payable 5
Convertible notes payable, maturity date		Mar. 31, 2014
Convertible notes payable, interest rate		0.00%
Finance charge		$ 1,500
Note Payable 6
Convertible notes payable, interest rate		10.00%
Note Payable 7
Convertible notes payable, interest rate		10.00%
Note Payable 8
Convertible notes payable, maturity date		Apr. 25, 2023
Convertible notes payable, interest rate		5.00%

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	Apr. 10, 2017	Jun. 28, 2018	Jan. 31, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Common stock, shares authorized				140,000,000	140,000,000
Common stock, par value				$ 0.001	$ 0.001
Preferred stock, shares authorized				10,000,000	10,000,000
Preferred stock, issued and outstanding				0	0
Preferred stock, par value				$ 0.001	$ 0.001
Common stock, issued and outstanding				115,980,000	114,980,000
Common stock issued for services				1,000,000
Common stock issued for services, value			$ 90,000	$ 90,000	$ 37,000
Prepaid stock based compensation				$ 63,000
Director
Common stock cancelled	37,000,000
Common stock cancelled, value	$ 37,000
Common stock issued for services	37,000,000
Common stock issued for services, value	$ 37,000
Consulting Services
Common stock issued for services		1,000,000
Common stock issued for services, value		$ 90,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Related Party Transactions [Abstract]
Directors fees	$ 60,000	$ 0

INCOME TAXES - Provisions for I

INCOME TAXES - Provisions for Income Tax (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Federal income taxes (benefit)	$ (45,243)	$ (22,995)
State income taxes
Deferred Benefit from net operating loss
Total current income tax benefit	$ (45,243)	$ (22,995)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Taxes (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Expected tax expense (benefit) using regular rates	$ 45,243	$ 22,995
State minimum tax valuation allowance	45,243	22,995
Tax Provision

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets (Details) - USD ($)	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Net operation loss carryforwards	$ 260,039	$ 214,796
Total deferred income tax asset	260,039	214,796
Less: valuation allowance	260,039	214,796
Total deferred income tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Sep. 30, 2018USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 482,643

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Sep. 04, 2020	Sep. 18, 2020	Jul. 20, 2020	Jan. 31, 2019	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Common stock issued for services					1,000,000
Common stock issued for services, value				$ 90,000	$ 90,000	$ 37,000
Common stock issued, price per share		$ 0.001
Directors
Common stock issued for services			1,000,000
CEO and Director
Common stock issued for services	6,000,000
Amsterdam Cafe Holdings Ltd
Common stock issued for cash		200,000,000
Proceeds from stock issuance		$ 200,000