Alterola Biotech (ABTI) 10-Q 29 Dec 20 2019 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2018	Dec. 22, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--09-30
Entity Registrant Name	Alterola Biotech Inc.
Entity Central Index Key	0001442999
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 Common Stock, Shares Outstanding		330,980,000

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Current Assets
Funds held in attorney trust	$ 14,742	$ 14,742
Deferred stock compensation	9,000	36,000
Total Current Assets	23,742	50,742
TOTAL ASSETS	23,742	50,742
Current Liabilities
Accounts payable	18,136	24,249
Accrued interest		1,360
Accrued directors fees	90,000	60,000
Advances from related party	2,250	750
Current portion of notes payable	0	0
Total Current Liabilities	110,386	86,359
Non current portion of notes payable	0	19,950
Total Liabilities	110,386	106,309
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	115,980
Additional paid-in capital	562,587	541,028
Deficit accumulated	(765,211)	(712,575)
Total Stockholders’ Deficit	(86,644)	(55,567)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 23,742	$ 50,742

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Sep. 30, 2018
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 and outstanding	115,980,000	115,980,000
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 ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
REVENUES	$ 0	$ 0
OPERATING EXPENSES
Stock based compensation	27,000	0
Accounting and audit fees	250	250
Legal fees	5,208	1,000
Directors fees	30,000	0
General and administrative expenses	345	0
TOTAL OPERATING EXPENSES	52,387	1,250
LOSS FROM OPERATIONS	(52,387)	(1,250)
OTHER INCOME (EXPENSE)
Interest expense	(249)	(4,625)
TOTAL OTHER INCOME (EXPENSE)	(249)	(4,625)
PROVISION FOR INCOME TAXES	0	0
NET INCOME (LOSS)	$ (52,636)	$ (5,875)
NET INCOME (LOSS) PER SHARE: BASIC AND DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	115,980,000	114,980,000

Shareholders Equity (Unaudited)

Shareholders Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Sep. 30, 2015	114,980,000
Beginning balance, amount at Sep. 30, 2015	$ 114,980	$ 132,850	$ (489,299)	$ (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
Capital contributions from forgiveness of debt
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	0	0
Common Stock issued for services, shares	37,000,000
Common Stock issued for services, amount	$ 37,000			37,000
Capital contributions from forgiveness of debt
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 surrendered for voluntary cancellation, shares
Common Stock surrendered for voluntary cancellation, amount
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)	149,111
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)
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
Capital contributions from forgiveness of debt		21,559		21,559
Net Income (Loss)			(52,636)	(52,636)
Ending balance, shares at Dec. 31, 2018	115,980,000
Ending balance, amount at Dec. 31, 2018	$ 115,980	$ 562,587	$ (765,211)	$ (86,644)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$ (52,636)	$ (5,875)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	27,000	0
Changes in assets and liabilities:
Increase (decrease) in accrued expenses	23,887	1,250
Increase (decrease) in accrued interest	249	4,625
Increase (decrease) in advance from related party	1,500	0
Net Cash Used by Operating Activities	0	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	0	0
Net Cash Provided by Financing Activities	0	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 financing costs related to notes payable	$ 0	$ 0

NATURE OF BUSINESS

NATURE OF BUSINESS	3 Months Ended
	Dec. 31, 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	3 Months Ended
	Dec. 31, 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. Basis of Presentation The accompanying unaudited interim financial statements of Alterola Biotech Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s registration statement filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year 2018 as reported in Form 10-K, have been omitted. 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 held in attorney trust The company does not have its own bank account. Amounts due from attorney represents fund held on behalf of the Company in trust by its legal counsel. 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 (“FV”) due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. FV 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 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 FV 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 FV 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 FV 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 FV 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 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 December 31, 2018, $9,000 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	3 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE	NOTE 3 – ACCOUNTS PAYABLE Accounts payable consisted of the following at December 31, 2018 and September 30, 2018: December September Audit fees $ 0 $ 1,000 Accounting 4,850 4,350 Legal fees and transfer agent 13,286 18,899 Total Accounts payable $ 18,136 $ 24,249

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE Notes payable consisted of the following at December 31, 2018 and September 30, 2018: December 31, 2018 September 30, 2018 Note payable, secured by assets of the company, bearing interest at 5% due on April 25, 2023 0 19,950 0 19,950 Less: current portion (0 ) (0) Total Notes payable $ 0 $ 19,950 The Convertible note was convertible at the option of the holder. The number of shares of common stock into which the convertible note was to 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 $249 and $4,625 for the periods ended December 31, 2018 and 2017, respectively. 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. On December 31, 2018 the Company entered into agreements with a debt holder to forgive additional promissory notes and accrued interest of $21,559. As a result, the Company has reclassified debt and interest payable to additional paid in equity for $21,559 in the financial statements for the period ended December 31, 2018,

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Dec. 31, 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 $9,000 as prepaid stock based compensation. The Company has 115,980,000 and 115,980,000 shares of common stock issued and outstanding as of December 31, 2018 and September 30, 2018 respectively. There are no shares of preferred stock issued and outstanding as of December 31, 2018 and September 30, 2018.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6- INCOME TAX 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 December 31, 2018 and 2017: 2018 2017 Current: Federal income taxes (benefit) (17,896 ) $ (1,998) State income taxes — — Deferred Benefit from net operating loss — — $ — $ (1,998) 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 $ 17,896 $ 1,998 State minimum tax Valuation allowance (17,896 ) (1,998) Tax Provision $ — $ — The Company has loss carry forwards totaling $817,457 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2028 and 2039. At December 31, 2018 and September 30, 2018, the significant components of the deferred tax assets are summarized below: December 31,2018 September 30, 2018 Deferred income tax asset Net operation loss carryforwards 277,935 260,039 Total deferred income tax asset 277,935 260,039 Less: valuation allowance (277,935 ) (260,039) 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – 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 period ended December 31, 2018, the Company accrued director’s fees payable of $ 30,000.

LIQUIDITY & GOING CONCERN

LIQUIDITY & GOING CONCERN	3 Months Ended
	Dec. 31, 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	3 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In accordance with ASC Topic 855-10, the Company analyzed its operations subsequent to December 31, 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.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 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.
Basis of presentation	The accompanying unaudited interim financial statements of Alterola Biotech Inc. have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s registration statement filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year 2018 as reported in Form 10-K, have been omitted.
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 held on behalf of the Company in trust by its legal counsel.
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 (“FV”) due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. FV 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 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 FV 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 FV 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 FV 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 FV 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 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 December 31, 2018, $9,000 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)	3 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable	December September Audit fees $ 0 $ 1,000 Accounting 4,850 4,350 Legal fees and transfer agent 13,286 18,899 Total accounts payable $ 18,136 $ 24,249

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	3 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Schedule of Notes Payable Table	December 31, 2018 September 30, 2018 Note payable, secured by assets of the company, bearing interest at 5% due on April 25, 2023 0 19,950 0 19,950 Less: current portion (0 ) (0) Total notes payable $ 0 $ 19,950

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Provisions for income tax	2018 2017 Current: Federal income taxes (benefit) (17,896 ) $ (1,998) State income taxes — — Deferred Benefit from net operating loss — — $ — $ (1,998)
Reconciliation of income taxes	2018 2017 Expected tax expense (benefit) using regular rates $ 17,896 $ 1,998 State minimum tax Valuation allowance (17,896 ) (1,998) Tax Provision $ — $ —
Deferred tax assets	December 31,2018 September 30, 2018 Deferred income tax asset Net operation loss carryforwards 277,935 260,039 Total deferred income tax asset 277,935 260,039 Less: valuation allowance (277,935 ) (260,039) Total deferred income tax asset $ — $ —

NATURE OF BUSINESS (Details Nar

NATURE OF BUSINESS (Details Narrative) - shares	Apr. 10, 2017	Dec. 31, 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 ($)	3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2018	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
Common Stock issued for services				1,000,000
Common Stock issued for services, value			$ 90,000	$ 90,000	$ 37,000
Prepaid expense	$ 9,000

ACCOUNTS PAYABLE - Schedule of

ACCOUNTS PAYABLE - Schedule of Accounts Payable (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Payables and Accruals [Abstract]
Audit fees	$ 0	$ 1,000
Accounting	4,850	4,350
Legal fees and transfer agent	13,286	18,899
Total Accrued expenses	$ 18,136	$ 24,249

NOTES PAYABLE - Schedule of Not

NOTES PAYABLE - Schedule of Notes Payable Table (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Less: current portion	$ 0	$ 0
Total Notes Payable	0	19,950
Note Payable 1
Convertible note payable	$ 0	$ 19,950

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2018
Interest expense	$ 249	$ 4,625
Gain on forgiveness of debt	(282,178)
Additional paid in equity	$ 562,587		$ 541,028
Note Payable 1
Convertible notes payable, maturity date	Apr. 25, 2023
Convertible notes payable, interest rate	5.00%
Reclassification
Additional paid in equity	$ 21,559

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	Apr. 10, 2017	Jun. 28, 2018	Dec. 31, 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		115,980,000
Common stock issued for services					1,000,000
Common stock issued for services, value				$ 90,000	$ 90,000	$ 37,000
Prepaid stock based compensation			$ 9,000
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

INCOME TAXES - Provisions for I

INCOME TAXES - Provisions for Income Tax (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal income taxes (benefit)	$ (17,896)	$ (1,998)
State income taxes
Deferred Benefit from net operating loss
Total current income tax benefit		$ (1,998)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Taxes (Details) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Expected tax expense (benefit) using regular rates	$ 17,896	$ 1,998
State minimum tax valuation allowance	17,896	1,998
Tax Provision

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2018	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Net operation loss carryforwards	$ 277,935	$ 260,039
Total deferred income tax asset	277,935	260,039
Less: valuation allowance	277,935	260,039
Total deferred income tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Dec. 31, 2018USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 817,457

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transactions [Abstract]
Directors fees	$ 30,000	$ 0

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Sep. 04, 2020	Sep. 18, 2020	Jul. 20, 2020	Dec. 31, 2018	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