Alterola Biotech (ABTI) 10-K/A 14 Sep 22 2022 FY Annual report (amended) Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2022	May 31, 2022	Sep. 30, 2021
Cover [Abstract]
Document Type	10-K/A
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--03-31
Entity File Number	333-156091
Entity Registrant Name	Alterola Biotech, Inc.
Entity Central Index Key	0001442999
Entity Tax Identification Number	82-1317032
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	47 Hamilton Squar
Entity Address, City or Town	Birkenhead Merseyside
Entity Address, Country	GB
Entity Address, Postal Zip Code	CH415AR
City Area Code	151
Local Phone Number	601 9477
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 163,675,200
Entity Common Stock, Shares Outstanding		807,047,948
Auditor Name	Gries & Associates, LLC
Auditor Location	Denver, Colorado 80246
Auditor Firm ID	6778

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Current Assets
Bank	$ 63,816	$ 519
Funds in attorney trust account	12,409
VAT Receivable	50,686
Inventory	1,050
Total current assets	127,961	519
Intellectual property	12,000,000
TOTAL ASSETS	12,127,961	519
Current Liabilities
Accounts payable	542,510	98,379
Accrued expenses	396,486	20,244
Accrued expenses- related party		562,665
Advances from related party	98,470	78,350
Convertible Note Payable	164,220
Total Current Liabilities	1,201,685	759,638
Total Liabilities	1,201,685	759,638
Stockholders’ Equity (Deficit)
Preferred Stock, $.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding
Common Stock, $.001 par value, 2,000,000,000 shares authorized, 802,633,333 and 754,280,000 shares issued and outstanding, respectively	802,633	754,280
Foreign currency translation adjustment	14,599	(14,023)
Additional paid-in capital	18,079,554
Accumulated deficit	(7,970,510)	(1,499,376)
Total Stockholders’ Equity (Deficit)	10,926,276	(759,119)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 12,127,961	$ 519

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000
Common Stock, Shares, Outstanding	802,633,333	754,280,000
Common Stock, Shares, Issued	802,633,333	754,280,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
REVENUES
OPERATING EXPENSES
Accounting and audit fees	133,036	26,500
Professional fees	2,432,210
Research and development	341,286
Legal fees	38,248	5,000
Directors fees and expenses	82,913	30,000
Consulting fees	3,155,593	243,000
Salaries and wages	194,643
General and administrative expenses	93,206	5,000
TOTAL OPERATING EXPENSES	6,471,134	309,500
LOSS FROM OPERATIONS	(6,471,134)	(309,500)
OTHER INCOME (EXPENSE)
Miscellaneous sale
TOTAL OTHER INCOME (EXPENSE)
PROVISION FOR INCOME TAXES
NET LOSS	$ (6,471,134)	$ (309,500)
NET LOSS PER SHARE: BASIC AND DILUTED	$ 0	$ 0
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	769,967,671	442,363,333

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Comprehensive Income [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jan. 06, 2021	$ 136				$ 136
Shares, Issued at Jan. 06, 2021	100
Related party interest forgiven		1,544			1,544
Recapitalization on reverse merger	$ 754,144	(1,544)		(1,156,343)	(403,743)
Stock Issued During Period, Shares, Other	754,279,900
Change in foreign currency			(14,023)		(14,023)
Net loss				(343,033)	(343,033)
Ending balance, value at Mar. 31, 2021	$ 754,280		(14,023)	(1,499,376)	(759,119)
Shares, Issued at Mar. 31, 2021	754,280,000
Change in foreign currency			28,622		28,622
Net loss				(6,471,134)	(6,471,134)
Shares issued for cash	$ 853	367,804			368,657
Stock Issued During Period, Shares, New Issues	853,333
C2 Wellness acquisition	$ 24,000	11,976,000			12,000,000
Stock Issued During Period, Shares, Acquisitions	24,000,000
Shares issued related to S-1 Registration	$ 7,500	2,391,750			2,399,250
[custom:StockIssuedDuringPeriodSharesS1Registration]	7,500,000
Shares issued for services REB Consulting	$ 16,000	3,344,000			$ 3,360,000
Stock Issued During Period, Shares, Issued for Services	16,000,000				7,500,000
Ending balance, value at Mar. 31, 2022	$ 802,633	$ 18,079,554	$ 14,599	$ (7,970,510)	$ 10,926,276
Shares, Issued at Mar. 31, 2022	802,633,333

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (6,471,134)	$ (309,500)
Adjustments to reconcile net loss to net cash
Shares issued for services	5,759,250	243,000
Changes in assets and liabilities:
Inventory	(1,050)
Funds in attorney trust	(12,409)	2,500
Receivables	(50,686)
Accruals	376,242	14,000
Accounts payable	444,131
Net Cash (Used by) Operating Activities	44,344	(50,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in intellectual property
Net Cash Used by Investing Activities
CASH FLOWS FROM FINANCING ACTIVITIES
Convertible debt issued	164,220
Sale of common shares for cash	368,657
Net from related parties	(542,545)	50,000
Net Cash Provided by Financing Activities	(9,669)	50,000
Effect of exchange rate adjustments on cash	28,622
Net Increase (Decrease) in Cash and Cash Equivalents	34,675
Cash and cash equivalents, beginning of period	519
Cash and cash equivalents, end of period	63,817
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid
Income taxes paid
NON-CASH INVESTING AND FINANCING INFORMATION
C2 Wellness acquisition – shares issued	12,000,000
Shares to be issued for acquisition		$ 600,000

NOTE 1 _ NATURE OF BUSINESS

NOTE 1 – NATURE OF BUSINESS	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 1 – NATURE OF BUSINESS	NOTE 1 – 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 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 January 19, 2021, the Company entered into an Stock Purchase Agreement (the “Agreement”) with ABTI Pharma Limited, a company registered in England and Wales (“ABTI Pharma”), pursuant to which the Company agreed to acquire all of the outstanding shares of capital stock of ABTI Pharma from its shareholders in exchange for 600,000,000 Following the acquisition of ABTI Pharma, the business plan of the company was no longer focused on a chewing gum delivery system but 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. The transaction is being accounted for as a reverse acquisition and recapitalization. ABTI Pharma is the acquirer for accounting purposes and the Company is the issuer.. The Agreement was treated as a recapitalization and not as a business combination; at the date of the acquisition, the net liabilities of the legal acquirer, Alterola, were $389,721

NOTE 2 _ SUMMARY OF SIGNIFICANT

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United State of America (GAAP accounting) and include the accounts of Alterola and its wholly owned subsidiaries ABTI Pharma, Phytotherapeutix Ltd and Ferven Ltd. All material intercompany transactions and balances have been eliminated. The Company had a September 30 fiscal year end. Subsequent to the Agreement with ABTI Pharma, the Company has changed its year end from September 30 to March 31. 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. ALTEROLA BIOTECH, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2022 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Funds in attorney trust account The company has a fully operational US Dollar ($) and a Sterling (£) bank account in the United Kingdom with the HSBC Group. 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. ALTEROLA BIOTECH, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2022 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 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 March 31, 2022, 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 has issued 15 million warrants to EMC2 Capital LLC.. Research and Development We engage in a variety of research and development activities to develop our technologies and work towards development of a saleable product. When it is determined that the research and development products we are creating have reached a point where saleable products are possible, these amounts are capitalized. As of March 31, 2022 and 2021, there was no capitalized research and development costs. The research and development costs incurred by the company are related to the following: · Licences for patent and know-how (Nano 4 M) - This relates to the company’s formulation development of Active Pharmaceutical Ingredients (API) for its lead pharmaceutical programs. · Protein Technologies/ Bright Bio/ Equipped 4. - This relates to the company’s research into production of cannabinoids by biosynthesis (as opposed to botanical production by growing plants). The company has genetically modified an organism to produce cannabinoids by fermentation (similar to methodology used for the production of antibiotics). · Apex Molecular Ltd - The company has a number of pharmaceutical development programs using both novel and natural molecules. The company employs third party chemistry / contract manufacturing companies (such a Apex Molecular Ltd) to synthesize and purify these compounds for their pharmaceutical development programs. Other Intangible Assets We have recorded the assets acquired as part of the C2 Wellness acquisition as Indefinite-lived intangible assets. Indefinite-lived intangible assets recorded are not amortized and, as a result, are assessed for impairment at least annually, using either a qualitative or quantitative process. We performed this annual assessment at year end March 31, 2022, noting no factors indicating possible impairment of intangible assets recognized. 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 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 and 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. ALTEROLA BIOTECH, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2022

NOTE 3 _ ACCRUED EXPENSES

NOTE 3 – ACCRUED EXPENSES	12 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
NOTE 3 – ACCRUED EXPENSES	NOTE 3 – ACCRUED EXPENSES Accrued expenses consisted of the following at March 31, 2022 and March 31, 2021: March 31, 2022 March 31, 2021 Audit fees $ 32,687 $ — Accounting 26,275 5,600 Research and development 326,080 — Legal fees and transfer agent 11,444 15,644 Total Accrued Expenses $ 396,486 $ 20,244

NOTE 4 _ CONVERTIBLE NOTE PAYAB

NOTE 4 – CONVERTIBLE NOTE PAYABLE	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
NOTE 4 – CONVERTIBLE NOTE PAYABLE	NOTE 4 – CONVERTIBLE NOTE PAYABLE On September 21, 2021, the Company entered into a Convertible Loan Agreement (“Convertible Loan”) with an outside party. The Agreement was bearing 20% $164,220

NOTE 5 _ CAPITAL STOCK

NOTE 5 – CAPITAL STOCK	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
NOTE 5 – CAPITAL STOCK	NOTE 5 – CAPITAL STOCK The Company has 2,000,000,000 $.001 10,000,000 $.001 On October 29, 2021, the Company issued 7,500,000 $2,399,250 As pursuant to the asset purchase agreement dated November 9, 2021, the Company acquired certain intellectual property rights of C2 Wellness Corp. In exchanges for the assets acquired, the Company issued 24,000,000 shares of common stock valued at $0.50 $12,000,000 . On or about March 3, 2022, the Company issued 16,000,000 $3,360,000 The Company has 802,633,333 754,280,000 ALTEROLA BIOTECH, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2022

NOTE 6 _ ACQUISITION

NOTE 6 – ACQUISITION	12 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
NOTE 6 – ACQUISITION	NOTE 6 – ACQUISITION On November 9, 2021, the Company entered into an agreement with C2 Wellness Corporation for acquisition of technology platforms and associated intellectual property. The transaction was closed by providing 24,000,000 $0.50 $12,000,000 $12,000,000

NOTE 7 _ RELATED PARTY TRANSACT

NOTE 7 – RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
NOTE 7 – RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS Alterola does not own any real property. We maintain our corporate offices at 47 Hamilton Square Birkenhead Merseyside CH41 5AR United Kingdom. One of the company directors has a beneficial ownership in the property, which is leased on “arm’s length” terms. 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 March 31, 2022, various related parties made advances to the company to fund operating expenses in the amount of $98,470

NOTE 8 _ LIQUIDITY & GOING CONC

NOTE 8 – LIQUIDITY & GOING CONCERN	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NOTE 8 – LIQUIDITY & GOING CONCERN	NOTE 8 – LIQUIDITY & GOING CONCERN Alterola has negative working capital of $909,504 $7,970,510 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.

NOTE 9 _ SUBSEQUENT EVENTS

NOTE 9 – SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
NOTE 9 – SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS In accordance with ASC Topic 855-10, the Company analyzed its operations subsequent to March 31, 2022 to the date these financial statements were issued, and determined it does not have any material subsequent events to disclose in these financial statements.

NOTE 2 _ SUMMARY OF SIGNIFICA_2

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United State of America (GAAP accounting) and include the accounts of Alterola and its wholly owned subsidiaries ABTI Pharma, Phytotherapeutix Ltd and Ferven Ltd. All material intercompany transactions and balances have been eliminated. The Company had a September 30 fiscal year end. Subsequent to the Agreement with ABTI Pharma, the Company has changed its year end from September 30 to March 31.
Use of Estimates	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	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. ALTEROLA BIOTECH, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2022 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Funds in attorney trust account	Funds in attorney trust account The company has a fully operational US Dollar ($) and a Sterling (£) bank account in the United Kingdom with the HSBC Group. Amounts due from attorney represents fund held on behalf of the Company in trust by its legal counsel.
Fair Value of Financial Instruments	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 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. ALTEROLA BIOTECH, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2022 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Foreign Currency Translation	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	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 March 31, 2022, the financial statements were not materially impacted as a result of the application of Topic 606 compared to Topic 605.
Loss Per Common Share	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 has issued 15 million warrants to EMC2 Capital LLC.. Research and Development We engage in a variety of research and development activities to develop our technologies and work towards development of a saleable product. When it is determined that the research and development products we are creating have reached a point where saleable products are possible, these amounts are capitalized. As of March 31, 2022 and 2021, there was no capitalized research and development costs. The research and development costs incurred by the company are related to the following: · Licences for patent and know-how (Nano 4 M) - This relates to the company’s formulation development of Active Pharmaceutical Ingredients (API) for its lead pharmaceutical programs. · Protein Technologies/ Bright Bio/ Equipped 4. - This relates to the company’s research into production of cannabinoids by biosynthesis (as opposed to botanical production by growing plants). The company has genetically modified an organism to produce cannabinoids by fermentation (similar to methodology used for the production of antibiotics). · Apex Molecular Ltd - The company has a number of pharmaceutical development programs using both novel and natural molecules. The company employs third party chemistry / contract manufacturing companies (such a Apex Molecular Ltd) to synthesize and purify these compounds for their pharmaceutical development programs. Other Intangible Assets We have recorded the assets acquired as part of the C2 Wellness acquisition as Indefinite-lived intangible assets. Indefinite-lived intangible assets recorded are not amortized and, as a result, are assessed for impairment at least annually, using either a qualitative or quantitative process. We performed this annual assessment at year end March 31, 2022, noting no factors indicating possible impairment of intangible assets recognized.
Stock-Based Compensation	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
Risks and Uncertainties	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 and 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	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.

NOTE 3 _ ACCRUED EXPENSES (Tabl

NOTE 3 – ACCRUED EXPENSES (Tables)	12 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
NOTE 3 - ACCRUED EXPENSES - Schedule of Accrued Expenses	March 31, 2022 March 31, 2021 Audit fees $ 32,687 $ — Accounting 26,275 5,600 Research and development 326,080 — Legal fees and transfer agent 11,444 15,644 Total Accrued Expenses $ 396,486 $ 20,244

NOTE 1 _ NATURE OF BUSINESS (De

NOTE 1 – NATURE OF BUSINESS (Details Narrative) - USD ($)	1 Months Ended
	Jan. 29, 2021	May 03, 2010	Mar. 31, 2022	May 28, 2021	Mar. 31, 2021
Liabilities			$ 1,201,685	$ 389,721	$ 759,638
Director
Stock Issued During Period, Shares, Acquisitions		55,000,000
Consulting Services
Stock Issued During Period, Shares, Acquisitions	600,000,000

NOTE 3 - ACCRUED EXPENSES - Sch

NOTE 3 - ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Interim Period, Costs Not Allocable [Line Items]
Total Accrued Expenses	$ 396,486	$ 20,244
Audit Fees [Member]
Interim Period, Costs Not Allocable [Line Items]
Accrued Professional Fees, Current	32,687
Accounting [Member]
Interim Period, Costs Not Allocable [Line Items]
Accrued Professional Fees, Current	26,275	5,600
Research And Development [Member]
Interim Period, Costs Not Allocable [Line Items]
Accrued Professional Fees, Current	326,080
Legal And Transfer Agent [Member]
Interim Period, Costs Not Allocable [Line Items]
Accrued Professional Fees, Current	$ 11,444	$ 15,644

NOTE 4 _ CONVERTIBLE NOTE PAY_2

NOTE 4 – CONVERTIBLE NOTE PAYABLE (Details Narrative) - USD ($)	1 Months Ended
	Sep. 21, 2021	Mar. 31, 2022	Mar. 31, 2021
Short-Term Debt [Line Items]
Convertible Notes Payable, Current		$ 164,220
Convertible Loan Agreement [Member]
Short-Term Debt [Line Items]
Debt Instrument, Convertible, Terms of Conversion Feature	The Agreement was bearing 20% interest and was convertible at 60% of the published share price, with a minimum conversion price per share of $1.34 per share. The debt had a term of 9 months from the date of initiation. As of March 31, 2022, the outstanding balance on the loan was $164,220
Accounts Payable, Interest-Bearing, Interest Rate	20%

NOTE 5 _ CAPITAL STOCK (Details

NOTE 5 – CAPITAL STOCK (Details Narrative) - USD ($)	3 Months Ended	4 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2022	Nov. 09, 2021	Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common Stock, Shares Authorized	2,000,000,000		2,000,000,000		2,000,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001		$ 0.001		$ 0.001
Preferred Stock, Shares Authorized	10,000,000		10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001		$ 0.001		$ 0.001
Stock Issued During Period, Shares, Issued for Services			7,500,000
Stock Issued During Period, Value, Issued for Services			$ 3,360,000
Intangible Assets, Current	$ 12,000,000		$ 12,000,000
Common Stock, Shares, Issued	802,633,333		802,633,333		754,280,000
Common Stock, Shares, Outstanding	802,633,333		802,633,333		754,280,000
E M C 2 Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Value, Issued for Services		$ 2,399,250
A P A Nov 9 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Acquisitions			24,000,000
Shares Issued, Price Per Share				$ 0.50
Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Issued for Services	16,000,000
Stock Issued During Period, Value, Issued for Services	$ 3,360,000

NOTE 6 _ ACQUISITION (Details N

NOTE 6 – ACQUISITION (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2022	Nov. 09, 2021	Mar. 31, 2021
Intangible Assets, Current	$ 12,000,000
A P A Nov 9 [Member]
Stock Issued During Period, Shares, Acquisitions	24,000,000
Shares Issued, Price Per Share		$ 0.50

NOTE 7 _ RELATED PARTY TRANSA_2

NOTE 7 – RELATED PARTY TRANSACTIONS (Details Narrative)	12 Months Ended
	Mar. 31, 2022 USD ($)
Related Party Transactions [Abstract]
[custom:ShareholderAdvances]	$ 98,470

NOTE 8 _ LIQUIDITY & GOING CO_2

NOTE 8 – LIQUIDITY & GOING CONCERN (Details Narrative)	153 Months Ended
	Mar. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Banking Regulation, Total Capital, Actual	$ 909,504
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 7,970,510