Alterola Biotech (ABTI) 10-Q 2 Apr 21 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2019	Mar. 17, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020
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		754,280,000

Balance Sheets

Balance Sheets - USD ($)	Dec. 31, 2019	Sep. 30, 2019
Current Assets
Funds held in attorney trust	$ 19,307	$ 14,742
Total current assets	19,307	14,742
TOTAL ASSETS	19,307	14,742
Current Liabilities
Accounts payable	35,460	35,202
Accrued directors fees	210,000	180,000
Advances from related party	2,250	2,250
Total Current Liabilities	247,710	217,452
Total Liabilities	247,710	217,452
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, 116,980,000 shares issued and outstanding	116,980	116,980
Additional paid-in capital	651,587	651,587
Deficit accumulated	(996,970)	(971,277)
Total Stockholders’ Deficit	(228,403)	(202,710)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 19,307	$ 14,742

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Sep. 30, 2019
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	116,980,000	116,980,000
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, issued and outstanding	0	0

Statements of Operations

Statements of Operations - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
REVENUES	$ 0	$ 0
OPERATING EXPENSES
Stock based compensation	0	27,000
Accounting and audit fees	10,250	250
Consulting fees	60,000	0
Legal fees	0	(5,208)
Directors fees	30,000	30,000
General and administrative expenses	4,443	345
TOTAL OPERATING EXPENSES	104,693	52,387
LOSS FROM OPERATIONS	(104,693)	(52,387)
OTHER INCOME (EXPENSE)
Miscellaneous sale	79,000	0
Interest expense		(249)
TOTAL OTHER INCOME (EXPENSE)	79,000	(249)
PROVISION FOR INCOME TAXES	0	0
NET INCOME (LOSS)	$ (25,693)	$ (52,636)
NET INCOME (LOSS) PER SHARE: BASIC AND DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	116,980,000	115,980,000

Shareholders Equity (Unaudited)

Shareholders Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, shares at Sep. 30, 2018	115,980,000
Beginning balance, amount at Sep. 30, 2018	$ 115,980	$ 541,028	$ (712,575)	$ (55,567)
Common Stock issued for services, shares	1,000,000
Common Stock issued for services, amount	$ 1,000	89,000		90,000
Capital contributions from forgiveness of debt		21,559		21,559
Net Income (Loss)			(258,702)	(258,702)
Ending balance, shares at Sep. 30, 2019	116,980,000
Ending balance, amount at Sep. 30, 2019	$ 116,980	651,587	(971,277)	(202,710)
Common Stock issued for services, shares
Common Stock issued for services, amount
Capital contributions from forgiveness of debt
Net Income (Loss)			(25,693)	(25,693)
Ending balance, shares at Dec. 31, 2019	116,980,000
Ending balance, amount at Dec. 31, 2019	$ 116,980	$ 651,587	$ (996,970)	$ (228,403)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period	$ (25,693)	$ (52,636)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	0	27,000
Changes in assets and liabilities:
Increase (decrease) in accrued expenses	30,258	23,887
Increase (decrease) in accrued interest	0	249
Increase (decrease) in advance from related party	0	1,500
Increase in due from attorney	(4,565)	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, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS	After formation, the Company was in the business of mineral exploration. On May 3, 2010, the Company sold its mineral exploration business and entered into an Intellectual Property Assignment Agreement (“IP Agreement”) with Soren Nielsen pursuant to which Mr. Nielsen transferred his right, title and interest in all intellectual property relating to certain chewing gum compositions having appetite suppressant activity (the “IP”) to the Company for the issuance of 55,000,000 shares of the Company’s common stock. Following the acquisition of the IP the Company changed its business direction to pursue the development of chewing gums for the delivery of Nutraceutical/functional ingredients for applications such as appetite suppressant, cholesterol suppressant, vitamin delivery, antioxidant delivery and motion sickness suppressant. On June 21, 2018, the Company signed an escrow agreement with Mr. Lauritsen to serve as its Chief Operating Officer and to contribute the IP for the company’s chewing gum business. In that agreement, the Company compensated Mr. Lauritsen with 1,000,000 shares of its common stock and cash in the amount of $90,000 USD. In March 2019, the Company issued 1,000,000 shares of common stock to Mr. Lauritsen rendered with a deemed value of services provided of $ 90,000. The business plan of the company will no longer be focused on a chewing gum delivery system but it will re-focus its activities to the development of cannabinoid, cannabinoid-like, and non-cannabinoid pharmaceutical active pharmaceutical ingredients (APIs), pharmaceutical medicines made from cannabinoid, cannabinoid-like, and non-cannabinoid APIs and European novel food approval of cannabinoid-based, cannabinoid-like and non-cannabinoid ingredients and products .In addition, the company plans to develop such bulk ingredients for supply into the cosmetic sector.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
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 2019 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. Foreign Currency Translation The financial statements are presented in US Dollars. Transactions with foreign subsidiaries where US dollars are not the functional currency will be recorded in accordance with Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 830 Foreign Currency Transaction Comprehensive Income 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. During the year ended September 30, 2019, 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. Risks and Uncertainties On January 30, 2020, the World Health Organization declared the coronavirus outbreak a “Public Health Emergency of International Concern” and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain types of public places and business. The Coronavirus and actions taken to mitigate it have had an are expected to have an adverse impact on the economies and financial markets of many countries, including the geographical area in which the Company plans to operate.” 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, 2019
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE	Accounts payable consisted of the following at December 31, 2019 and September 30, 2019: December September Audit fees $ 10,000 $ 10,000 Accounting 5,850 5,600 Legal fees and transfer agent 19,610 19,602 Total Accrued Expenses $ 35,460 $ 35,202

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Dec. 31, 2019
Equity [Abstract]
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. The services are to be provided over a period from April 1, 2018 to January 31, 2019. In March 2019, 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 The Company has 116,980,000 and 116,980,000 shares of common stock issued and outstanding as of December 31, 2019 and September 30, 2019 respectively. There are no shares of preferred stock issued and outstanding as of December 31, 2019 and September 30, 2019.

INCOME TAX

INCOME TAX	3 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
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 December 31, 2019 and September 31, 2018: 2019 2018 Current: Federal income taxes (benefit) (5,396 ) $ (17,896 ) State income taxes — — Deferred Benefit from net operating loss 5,396 17,896 $ (0 ) $ (0 ) 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: 2019 2018 Expected tax expense (benefit) using regular rates $ 5,396 $ 17,896 State minimum tax Valuation allowance (5,396 ) (17,896 ) Tax Provision $ — $ — The Company has loss carry forwards totaling $1,049,210 that may be offset against future federal income taxes. If not used, the carry forwards will expire between 2028 and 2039. At December 31, 2019 and 2018, the significant components of the deferred tax assets are summarized below: 2019 2018 Deferred income tax asset Net operation loss carryforwards 351,247 277,935 Total deferred income tax asset 351,247 277,935 Less: valuation allowance (351,247 ) (277,935 ) Total deferred income tax asset $ — $ — The federal income tax returns of the Company for 2019 and 2018 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, 2019
Related Party Transactions [Abstract]
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, 2019, the Company accrued director’s fees payable of $ 90,000.

LIQUIDITY & GOING CONCERN

LIQUIDITY & GOING CONCERN	3 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	In accordance with ASC Topic 855-10, the Company analyzed its operations subsequent to December 31, 2019 to the date these financial statements were issued, and determined it does not have any material subsequent events to disclose in these financial statements. 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 January 19, 2021, the Company entered into an Stock Transfer Agreement (the “Agreement”) with ABTI Pharma Limited, a company registered in England and Wales (“ABTI Pharma”), pursuant to which the Company will acquire all of the outstanding shares of capital stock of ABTI Pharma from its shareholders in exchange for 600,000,000 shares of the Company pro rata to the ABTI Pharma shareholders. The shares have been issued in anticipation of the closing and the transaction will close upon the ABTI Pharma Limited Shares being transferred to the Company which will occur upon the filing by the Company of its outstanding annual report and form 10-K for 2019, and its quarterly reports for 2020, that are anticipated to be filed by March 30 th Pursuant to the Agreement, the Company will provide funding to ABTI Pharma to pay for operating expenses including salaries, office expenses and additional expenses or projects in the amount of US$500,000 within fifteen (15) days from closing the Agreement and shall fund an additional US $200,000 every 30 days thereafter until a total funding of US $1,100,000 has been delivered.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Dec. 31, 2019
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 2019 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. 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.
Foreign currency translation	The financial statements are presented in US Dollars. Transactions with foreign subsidiaries where US dollars are not the functional currency will be recorded in accordance with Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 830 Foreign Currency Transaction Comprehensive Income
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. During the year ended September 30, 2019, 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.
Risks and uncertainties	On January 30, 2020, the World Health Organization declared the coronavirus outbreak a “Public Health Emergency of International Concern” and on March 10, 2020, declared it to be a pandemic. Actions taken around the world to help mitigate the spread of the coronavirus include restrictions on travel, and quarantines in certain areas, and forced closures for certain types of public places and business. The Coronavirus and actions taken to mitigate it have had an are expected to have an adverse impact on the economies and financial markets of many countries, including the geographical area in which the Company plans to operate.”
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, 2019
Payables and Accruals [Abstract]
Schedule of Accounts Payable	December September Audit fees $ 10,000 $ 10,000 Accounting 5,850 5,600 Legal fees and transfer agent 19,610 19,602 Total Accrued Expenses $ 35,460 $ 35,202

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Provisions for income tax	2019 2018 Current: Federal income taxes (benefit) (5,396 ) $ (17,896 ) State income taxes — — Deferred Benefit from net operating loss 5,396 17,896 $ (0 ) $ (0 )
Reconciliation of income taxes	2019 2018 Expected tax expense (benefit) using regular rates $ 5,396 $ 17,896 State minimum tax Valuation allowance (5,396 ) (17,896 ) Tax Provision $ — $ —
Deferred tax assets	2019 2018 Deferred income tax asset Net operation loss carryforwards 351,247 277,935 Total deferred income tax asset 351,247 277,935 Less: valuation allowance (351,247 ) (277,935 ) Total deferred income tax asset $ — $ —

NATURE OF BUSINESS (Details Nar

NATURE OF BUSINESS (Details Narrative) - USD ($)	Apr. 10, 2018	Mar. 30, 2019	Jun. 28, 2018	May 03, 2010	Jun. 21, 2018	Dec. 31, 2019	Sep. 30, 2019
Date of Incorporation						Jul. 21, 2008
Common stock issued for services, value							$ 90,000
Soren Nielson
Common stock cancelled	37,000,000
Common stock, shares issued for acquisition				55,000,000
Consulting Services
Common stock issued for services			1,000,000		1,000,000
Common stock issued for services, value			$ 90,000
Cash paid for compensation					$ 90,000
Directors
Common stock issued for services		1,000,000
Common stock issued for services, value		$ 90,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2019	Sep. 30, 2019	Sep. 30, 2018
Fiscal year end		--09-30
Common Stock issued for services, value			$ 90,000
Officer Issuance
Common Stock issued for services	1,000,000		1,000,000	1,000,000
Common Stock issued for services, value	$ 90,000		$ 90,000	$ 90,000

ACCOUNTS PAYABLE - Schedule of

ACCOUNTS PAYABLE - Schedule of Accounts Payable (Details) - USD ($)	Dec. 31, 2019	Sep. 30, 2019
Payables and Accruals [Abstract]
Audit fees	$ 10,000	$ 10,000
Accounting	5,850	5,600
Legal fees and transfer agent	19,610	19,602
Total Accrued expenses	$ 35,460	$ 35,202

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	Sep. 04, 2021	Apr. 10, 2018	Mar. 31, 2019	Jun. 28, 2018	Jun. 21, 2018	Dec. 31, 2019	Sep. 30, 2019	Sep. 30, 2018
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						116,980,000	116,980,000
Common stock issued for services, value							$ 90,000
Prepaid stock based compensation						$ 63,000
Director
Common stock cancelled		37,000,000
Common stock cancelled, value		$ 37,000
Consulting Services
Common stock issued for services				1,000,000	1,000,000
Common stock issued for services, value				$ 90,000
Officer Issuance
Common stock issued for services			1,000,000				1,000,000	1,000,000
Common stock issued for services, value			$ 90,000				$ 90,000	$ 90,000
CEO and Director
Common stock issued for services	6,000,000
Common stock issued for services, value	$ 60,000

INCOME TAXES - Provisions for I

INCOME TAXES - Provisions for Income Tax (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Federal income taxes (benefit)	$ (5,396)	$ (17,896)
State income taxes
Deferred Benefit from net operating loss	5,396	17,896
Total current income tax benefit	$ 0	$ 0

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Taxes (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Expected tax expense (benefit) using regular rates	$ 5,396	$ 17,896
State minimum tax valuation allowance	5,396	17,896
Tax Provision

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net operation loss carryforwards	$ 342,511	$ 277,935
Total deferred income tax asset	342,511	277,935
Less: valuation allowance	(342,511)	(277,935)
Total deferred income tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Dec. 31, 2019USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 1,049,210

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	Dec. 31, 2019USD ($)
Related Party Transactions [Abstract]
Directors fees	$ 90,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Sep. 04, 2021	Sep. 18, 2020	Jul. 20, 2020	Dec. 31, 2019	Sep. 30, 2019
Common stock issued for services, value					$ 90,000
Common stock issued, price per share		$ 0.001
Directors
Common stock issued for services			1,000,000
Common stock issued for services, value			$ 10,000
CEO and Director
Common stock issued for services	6,000,000
Common stock issued for services, value	$ 60,000
Amsterdam Cafe Holdings Ltd
Common stock issued for cash		200,000,000
Proceeds from stock issuance		$ 200,000