Cover
Cover - shares | 3 Months Ended | |
Jun. 30, 2024 | Aug. 14, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2025 | |
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 Square | |
Entity Address, City or Town | Birkenhead Merseyside | |
Entity Address, Country | GB | |
Entity Address, Postal Zip Code | CH41 5AR | |
City Area Code | 151 | |
Local Phone Number | 601 9477 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,459,502,018 |
UNAUDITED CONSOLIDATED BALANCE
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Current Assets | ||
Bank | $ 10,955 | $ 2,654 |
Inventories | 1,011 | 1,009 |
Total Current Assets | 11,966 | 3,663 |
TOTAL ASSETS | 11,966 | 3,663 |
Current Liabilities | ||
Accounts payable | 865,724 | 825,210 |
Accrued expenses | 490,164 | 362,451 |
Loan payable, related party | 151,747 | 145,603 |
Total Current Liabilities | 1,507,635 | 1,333,264 |
Convertible Note Payable | ||
Total Liabilities | 1,507,635 | 1,333,264 |
Stockholders’ Equity (Deficit) | ||
Preferred Stock, $0.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding | ||
Common Stock, $0.001 par value, 2,000,000,000 shares authorized, 1,467,475,449 and 1,382,662,952 shares issued and outstanding, respectively | 1,467,484 | 1,382,663 |
Additional paid-in capital | 9,885,765 | 9,663,951 |
Accumulated deficit | (12,835,373) | (12,416,075) |
Foreign currency translation adjustment | (13,545) | 39,860 |
Total Stockholders’ Equity (Deficit) | (1,495,669) | (1,329,601) |
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $ 11,966 | $ 3,663 |
UNAUDITED CONSOLIDATED BALANC_2
UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 |
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, Issued | 1,467,475,449 | 1,382,662,952 | 807,047,948 | 807,047,948 |
Common Stock, Shares, Outstanding | 1,467,475,449 | 1,382,662,952 | 807,047,948 | 807,047,948 |
UNAUDITED CONSOLIDATED STATEMEN
UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) | 3 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Income Statement [Abstract] | ||
REVENUES | ||
OPERATING EXPENSES | ||
Accounting and audit fees | 79,930 | 48,938 |
Professional fees | 2,301 | 5,290 |
Research and development | 19,135 | |
Legal fees | 281 | |
Directors fees and expenses | 171,000 | |
Consulting fees | 289,058 | 317,741 |
Salaries and wages | 43,663 | 35,939 |
General and administrative expenses | 13,005 | 6,292 |
TOTAL OPERATING EXPENSES | 447,373 | 585,200 |
LOSS FROM OPERATIONS | (447,373) | (585,200) |
OTHER INCOME (EXPENSE) | ||
Gain on conversion of debt | 138,163 | |
Exchange differences | 28,075 | |
TOTAL OTHER INCOME (EXPENSE) | 28,075 | 138,163 |
PROVISION FOR INCOME TAXES | ||
NET LOSS | $ (419,298) | $ (447,037) |
NET LOSS PER SHARE: BASIC AND DILUTED | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED | 1,429,742,622 | 807,047,948 |
Foreign translation adjustment | $ (53,405) | $ (77,779) |
COMPREHENSIVE LOSS | $ (472,703) | $ (524,816) |
CONSOLIDATED STATEMENT OF STOCK
CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT (Unaudited) - USD ($) | Common Stock [Member] | Treasury Stock, Common [Member] | Additional Paid-in Capital [Member] | Stock Subscription [Member] | Comprehensive Income [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Mar. 31, 2023 | $ 807,048 | $ 18,927,919 | $ 67,873 | $ (10,041,696) | $ 97,641,144 | ||
Shares, Issued at Mar. 31, 2023 | 807,047,948 | ||||||
Foreign currency translation | (77,779) | (77,779) | |||||
Shares reclaimed into treasury shares | $ (44,064) | $ 44,064 | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued | (44,064,000) | 44,064,000 | |||||
Shares issued for settlement of debt | $ 476 | $ (476) | 157,339 | 157,339 | |||
Stock Issued During Period, Shares, Other | 476,000 | (476,000) | |||||
Shares issued for warrants | $ 13,500 | $ (13,500) | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 13,500,000 | (13,500,000) | |||||
Shares issued for acquisition of Alinova Biosciences | $ 5,000 | $ (5,000) | 295,000 | 295,000 | |||
Stock Issued During Period, Shares, Acquisitions | 5,000,000 | (5,000,000) | |||||
Shares issued for services | $ 16,088 | $ (16,088) | 305,672 | 305,672 | |||
Stock Issued During Period, Shares, Issued for Services | 16,088,000 | (16,088,000) | |||||
Shares issued for services – Directors | $ 9,000 | $ (9,000) | 171,000 | 171,000 | |||
Stock Issued During Period, Shares, Employee Benefit Plan | 9,000,000 | (9,000,000) | |||||
Net loss | (447,037) | (447,037) | |||||
Shares issued for back wages | |||||||
Ending balance, value at Jun. 30, 2023 | $ 807,048 | 19,856,930 | (9,906) | (10,488,733) | 10,165,339 | ||
Shares, Issued at Jun. 30, 2023 | 807,047,948 | ||||||
Beginning balance, value at Mar. 31, 2024 | $ 1,382,663 | 9,663,951 | 39,860 | (12,416,075) | (1,329,601) | ||
Shares, Issued at Mar. 31, 2024 | 1,382,662,949 | ||||||
Foreign currency translation | (53,405) | (53,405) | |||||
Shares issued for settlement of debt | |||||||
Shares issued for acquisition of Alinova Biosciences | |||||||
Shares issued for services | $ 57,000 | 146,700 | 203,700 | ||||
Stock Issued During Period, Shares, Issued for Services | 57,000,000 | ||||||
Shares issued for services – Directors | $ 20,000 | 54,000 | 74,000 | ||||
Stock Issued During Period, Shares, Employee Benefit Plan | 20,000,000 | ||||||
Net loss | (419,298) | (419,298) | |||||
Shares issued for back wages | $ 7,822 | 21,114 | 28,935 | ||||
Stock Issued During Period, Shares, New Issues | 7,812,500 | ||||||
Ending balance, value at Jun. 30, 2024 | $ 1,467,484 | $ 9,885,765 | $ (13,545) | $ (12,835,373) | $ (1,495,669) | ||
Shares, Issued at Jun. 30, 2024 | 1,467,475,449 |
UNAUDITED CONSOLIDATED STATEM_2
UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) | 3 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss for the period | $ (419,298) | $ (447,037) |
Adjustments to reconcile net loss to net cash flows used in operating activities | ||
Stock issued for outside services | 203,700 | 305,672 |
Stock to directors | 74,000 | 171,000 |
Shares issued for settlement of debt | 157,339 | |
Shares issued for back wages | 28,935 | |
Changes in assets and liabilities: | ||
Inventory | (2) | (19) |
VAT receivable | 28,684 | 36,426 |
Accounts payable | 11,830 | 64,259 |
Accrued liabilities | 127,713 | 23,181 |
Net Cash Provided by Operating Activities | 55,562 | 310,821 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Purchase of assets | (166,852) | |
Net Cash (Used in) Investing Activities | (166,852) | |
Loan from related parties | 6,144 | (38,535) |
Net Cash Provided by (Used in) Financing Activities | 6,144 | (38,535) |
Net change in cash | 61,706 | 105,434 |
Effect of exchange rate adjustments on cash | (53,405) | (77,779) |
Cash and cash equivalents, beginning of period | 2,654 | 8,890 |
Cash and cash equivalents, end of period | 10,955 | 36,545 |
NON-CASH INVESTING AND FINANCING INFORMATION | ||
Shares issued for services | 277,700 | 305,762 |
Shares issued to directors | 171,000 | |
Shares issued for asset acquisition | 295,000 | |
Shares issued for exercise of warrants | 13,500 | |
Shares issued for conversion of notes payable | 157,339 | |
Shares issued for back wages | $ 28,935 |
NOTE 1 _ NATURE OF BUSINESS, LI
NOTE 1 – NATURE OF BUSINESS, LIQUIDITY & GOING CONCERN | 3 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
NOTE 1 – NATURE OF BUSINESS, LIQUIDITY & GOING CONCERN | NOTE 1 – NATURE OF BUSINESS, LIQUIDITY & GOING CONCERN 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 a 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 The transaction was accounted for as a reverse acquisition and recapitalization. ABTI Pharma is the acquirer for accounting purposes and the Company is the issuer. The historical financial statements presented are the financial statements of ABTI. 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 The business plan of the company is no longer focused on a chewing gum delivery system but was re-focused on 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. On December 2, 2021, the Company closed an Asset Purchase Agreement (the “Purchase Agreement”) with C2 Wellness Corp., a Wyoming corporation, and Dr. G. Sridhar Prasad (together, the “Seller”) and acquired certain IP assets (the “Assets”) from Seller, which include: • Novel cannabinoid molecules and their associated intellectual property; • Novel cannabinoid pro-drugs, and their associated intellectual property; • Novel proprietary cannabinoid formulations, designed to target lymphatic delivery, and their associated intellectual property; • Novel proprietary nano-encapsulated cannabinoid formulations, in self-dissolving polymers, and their associated intellectual property; and • Cannabinoids and cannabinoid pro-drug formulations for topical ocular delivery, and their associated intellectual property. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 In exchange for the Assets, the Company issued to Seller shares of common stock. On September 8, 2023, the Company and Seller entered into an Agreement to sell the assets, such that the Company sold the assets back to the Seller and the Seller paid 29,015,993 As of April 18, 2023, we acquired intellectual property from Alinova Biosciences Ltd. We acquired Alinova’s joint interest in the patent family of PTX 0001. We paid 35,000 5,000,000 On April 16, 2024, the Company formed a new subsidiary Phytanix Bio. LIQUIDITY & GOING CONCERN Alterola has negative working capital of $1,495,669 $12,837,659 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 2 _ SUMMARY OF SIGNIFICANT
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). They include the accounts of Alterola and its wholly owned subsidiaries ABTI Pharma, Phytotherapeutix Ltd, Ferven Ltd and Phytanix Bio. All material intercompany transactions and balances have been eliminated. These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended March 31, 2024. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of June 30, 2024, and the results of its operations and cash flows for the three months then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year ending March 31, 2025. 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. 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. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 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. 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 December 31, 2022, the financial statements were not materially impacted as a result of the application of Topic 606 compared to Topic 605. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 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. Research and development We engage in a variety of research and development activities to develop our technologies and work toward 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 June 30, 2024 and March 31, 2023 there are no capitalized research and development costs. The research and development costs incurred by the company relate to the following: • Licenses for patent and know-how ( Nano 4 M) - this relates to the company’s formulation of Active Pharmaceutical Ingredients ( API) for its lead pharmaceutical programs. • Protein Technologies Ltd – 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 as Apex Molecular Ltd. to synthesize and purify these compounds for their pharmaceutical development programs. • Acquisition of intellectual property from Alinova Biosciences Ltd. • Continued patent prosecution and internationalization of company intellectual property. • Staff costs and consultancy costs relating to R & D. Other Intangible Assets We have recorded the assets acquired as part of the C2 Wellness acquisition as indefinite lived Intangible assets. Indefinite life intangible assets recorded are not amortized and, as a result, are assessed for impairment at least annually, using either a qualitative or quantitative process. The C2 Wellness assets that were acquired were subsequently re-sold as discussed above. We performed this annual assessment as of March 31, 2024, noting impairment factors indicating possible impairment of intangible assets recognized and recorded impairment of $392,278 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. We may be impacted by business interruptions resulting from pandemics and public health emergencies, including those related to geopolitical actions, including war and terrorism or natural disasters including earthquakes, typhoons, floods, and fires. An outbreak of infectious disease, a pandemic or a similar public health threat or a fear of any of the foregoing, could adversely impact us by causing operating, manufacturing supply chain, clinical trial and project development delays and disruptions, labour shortages, travel and shipping disruption and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how we may be affected if such an epidemic persists for an extended period of time. We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results, and financial condition. 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 UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 |
NOTE 3 _ INTANGIBLE ASSETS
NOTE 3 – INTANGIBLE ASSETS | 3 Months Ended |
Jun. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
NOTE 3 – INTANGIBLE ASSETS | NOTE 3 – INTANGIBLE ASSETS As part of the C2 Wellness acquisition, the company recognized $12,000,000 $12,139,779 |
NOTE 4 _ DEFERRED TAX ASSET
NOTE 4 – DEFERRED TAX ASSET | 3 Months Ended |
Jun. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
NOTE 4 – DEFERRED TAX ASSET | NOTE 4 – DEFERRED TAX ASSET As of the year ended March 31, 2023, the Company had recorded $189,355 |
NOTE 5 _ ACCOUNTS PAYABLE
NOTE 5 – ACCOUNTS PAYABLE | 3 Months Ended |
Jun. 30, 2024 | |
Payables and Accruals [Abstract] | |
NOTE 5 – ACCOUNTS PAYABLE | NOTE 5 – ACCOUNTS PAYABLE Accounts payable consisted of the following at June 30, 2024 and March 31, 2024 June 30, 2024 March 31,2024 Accounting and audit fees $ 174,113 $ 181,955 Research and development 344,365 409,904 General and administrative 308,189 147,724 Legal fees and transfer agent 39,057 85,627 Total Accounts Payable $ 865,724 $ 825,210 |
NOTE 6 _ ACCRUED EXPENSES
NOTE 6 – ACCRUED EXPENSES | 3 Months Ended |
Jun. 30, 2024 | |
Payables and Accruals [Abstract] | |
NOTE 6 – ACCRUED EXPENSES | NOTE 6 – ACCRUED EXPENSES Accrued expenses consisted of the following at June 30, 2024 and March 31, 2024 June 30, 2024 March 31,2024 Accounting and audit fees $ 56,936 $ 49,468 Research and development 35,576 — General and administrative 290,168 89,508 Legal fees and transfer agent 107,484 223,475 Total Accrued Expenses $ 490,164 $ 362,451 |
NOTE 7 _ CAPITAL STOCK
NOTE 7 – CAPITAL STOCK | 3 Months Ended |
Jun. 30, 2024 | |
Equity [Abstract] | |
NOTE 7 – CAPITAL STOCK | NOTE 7 – CAPITAL STOCK The Company has 2,000,000,000 $0.001 10,000,000 $0.001 On August 11, 2021, the Company issued 15,000,000 $0.64 5 year term. The warrants exercise price includes a declining scale with the stock price. As of December 31, 2022, the warrants were exercisable at $0.001 the total potential impact on the financial statements of the exercise of the warrants was approximately $1 million dollars June 13, 2023 The total potential impact on the financial statements of the exercise of the warrants was approximately $13,500 ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 During September 2021, the Company received an investment for £100,000 Sterling (or $136,721 280,000 280,000 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 $0.50 $12,000,000 On December 21, 2021, the company issued 520,000 $130,000 On February 8, 2022, the company issued 333,333 $50,000 $0.15 On or about March 3, 2022, the Company issued 16,000,000 $3,360,000 On April 5, 2022, the company issued 384,615 $50,000 $0.13 On April 29, 2022, the Company issued 1,500,000 $0.214 $321,000 On May 2, 2022, the Company issued 280,000 $136,721 $0.50 $140,000 On May 4, 2022, we issued 2,250,000 On June 6, 2023, the Company reclaimed 44,064,000 On June 13, 2023, we issued 13,500,000 15,000,000 On June 13, 2023, we issued 476,000 £125,000 On June 13, 2023, we issued 5,000,000 June 13, 2023, we issued 5,999,900 June 13, 2023, we issued 10,088,100 On June 14, 2023, we issued 9,000,000 On September 8, 2023, the Company entered into an Agreement to Return Assets and Shares with C2 Wellness Corp. As part of the agreement, the company received 29,015,993 24,000,000 5,015,996 $12,000,000 ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 On October 16, 2023, the Company issued 587,499,996 $406,575 On December 21, 2023, the Company issued 17,131,001 $61,672 On May 9, 2024, 2024, the Company issued a total 39,000,000 $0.0037 On May 16, 2024, the Company issued a total 18,000,000 $0.0033 On May 9, 2024, the Company issued a total of 7,812,500 $0.0037 On May 9, 2024, the Company issued a total of 5,000,000 $0.0037 On May 9, 2024, the Company issued a total of 5,000,000 $0.0037 On May 9, 2024, the Company issued a total of 5,000,000 $0.0037 On May 9, 2024, the Company issued a total of 5,000,000 $0.0037 During the year ended March 31, 2024, the company reviewed the cumulative translation adjustment recorded on the financial statements and made corrections to the amount recorded for the year ended March 31, 2023 as discussed in the restatement footnote (Note 2) contained in the Company’s annual report on Form 10-K for the year ended March 31, 2024. The updated number was recorded as $67,873 The Company has 1,467,475,449 1,382,662,952 no 807,047,948 807,047,948 |
NOTE 8 _ NOTES PAYABLE
NOTE 8 – NOTES PAYABLE | 3 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
NOTE 8 – NOTES PAYABLE | NOTE 8 – NOTES PAYABLE On September 21, 2021, the Company entered into a convertible note agreement with an outside party for $171,863 90 days with an interest fee of $13,680 The conversion option would be at 90 days, with share conversion at .50 cents, with an issuance of 340,000 shares, valued at $428,400 at the date of the loan. 136,000 $171,000 476,000 ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 Conversion of the debt is at a discount rate of 60% $1.37 On August 1, 2022, the Company issued a note payable for 90 days $75,000 2,250,000 $75,000 On June 13, 2023, we issued 476,000 £125,000 On June 26, 2024, the Company entered into a Secured Promissory Note with its subsidiary, Phytanix Bio, in the amount of $42,500 September 26, 2024 |
NOTE 9 _ RELATED PARTY TRANSACT
NOTE 9 – RELATED PARTY TRANSACTIONS | 3 Months Ended |
Jun. 30, 2024 | |
Related Party Transactions [Abstract] | |
NOTE 9 – RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS Alterola neither owns nor leases any real or personal property. An officer has provided office space as an arms length transaction with rental at commercial rates. 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 June 30, 2024, a shareholder made advances to the company to fund operating expenses in the amount of $6,144 |
NOTE 10 _ SUBSEQUENT EVENTS
NOTE 10 – SUBSEQUENT EVENTS | 3 Months Ended |
Jun. 30, 2024 | |
Subsequent Events [Abstract] | |
NOTE 10 – SUBSEQUENT EVENTS | NOTE 10 – SUBSEQUENT EVENTS In accordance with ASC Topic 855-10, the Company analyzed its operations subsequent to June 30, 2024 to the date these financial statements were issued, and determined it does not have any material subsequent events to disclose in these financial statements, except as noted below. On August 13, 2024, the Company issued a total of 2,114,666 shares to Guy Webber in lieu of services provided to the company as per his employment contract. On August 13, 2024, the shares which were held in escrow as part payment for services provided by Bridgeway Capital Partners as per an agreement dated June 24, 2022, were returned to Alterola Company Treasury, as Bridgeway Capital Partners waived their right to this payment. Business Combination Agreement On July 22, 2024, Chain Bridge I, a Cayman Islands exempted company (“CBRG”), CB Holdings, Inc., a Nevada corporation (“HoldCo”), CB Merger Sub 1, a Cayman Islands exempted company (“CBRG Merger Sub”), Phytanix Bio, a Nevada corporation (the “Company”), and wholly owned subsidiary of Alterola Biotech, Inc., a Nevada corporation, and CB Merger Sub 2, Inc., a Nevada corporation (“Company Merger Sub”), entered into a Business Combination Agreement (as it may be amended, supplemented or otherwise modified from time to time, the “Business Combination Agreement”). Phytanix Bio is a subsidiary of Alterola Biotech, Inc., and Phytanix is the parent company of ABTI Pharma, which holds the subsidiaries, Ferven and Phyto. Phytanix Bio is an innovative pharmaceutical company dedicated to the development of therapeutics based on cannabinoid and cannabinoid-like molecules. CBRG is a special purpose acquisition company formed for the purpose of acquiring or merging with one or more businesses. Upon closing of the transaction, expected to occur in the fourth quarter of 2024, the combined company will be named Phytanix Inc., and its common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol “PHYX.” ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 The Business Combination The Business Combination Agreement and the transactions contemplated thereby were approved by the boards of directors of each of the Company and CBRG. The Business Combination Agreement provides for, among other things, the consummation of the following transactions (the transactions contemplated by the Business Combination Agreement, collectively, the “Business Combination”): (i) CBRG Merger Sub will merge with and into CBRG (the “CBRG Merger”) and Company Merger Sub will merge with and into the Company (the “Company Merger” and, together with the CBRG Merger, the “Mergers”), with CBRG and the Company surviving the Mergers and, after giving effect to such Mergers, each of CBRG and the Company becoming a wholly owned subsidiary of HoldCo, on the terms and subject to the conditions in the Business Combination Agreement; (ii) (A) each issued and outstanding Class A ordinary share, par value $0.0001 per share, of CBRG (the “CBRG Class A Shares”) will be automatically cancelled, extinguished and converted into the right to receive one share of common stock, par value $0.0001 per share, of HoldCo (the “HoldCo Shares”); and (B) each issued and outstanding Class B ordinary share, par value $0.0001 per share, of CBRG (the “CBRG Class B Shares” and together with the CBRG Class A Shares, the CBRG Shares), will be automatically cancelled, extinguished and converted into the right to receive one HoldCo Share; (iii) each outstanding warrant to purchase one CBRG Class A Share will be automatically exchanged for a warrant to purchase one HoldCo Share; and (iv) (A) each warrant of the Company to purchase Company common stock will be exchanged for a warrant to purchase HoldCo Shares; (B) each warrant of the Company to purchase Company preferred stock will be exchanged for a warrant to purchase HoldCo preferred stock; (C) all promissory notes of the Company issued in connection with its June 2024 financing will be exchanged for HoldCo Series A convertible preferred stock, and any remaining issued and outstanding promissory notes of the Company will be automatically and fully cancelled; (D) each share of preferred stock, par value $0.000000001 per share, of the Company (the “Company Preferred Stock”) that is issued and outstanding will be automatically converted into shares of HoldCo preferred stock; and (E) all issued and outstanding shares of Company Common Stock (other than treasury shares and shares with respect to which appraisal rights under the Nevada law are properly exercised and not withdrawn) will be automatically cancelled, extinguished and converted into the right to receive HoldCo Shares based on the exchange ratio set forth in the Business Combination Agreement. Prior to the closing of the Business Combination (the “Closing”), (A) HoldCo will file with the Secretary of State of the State of Nevada an amended and restated certificate of incorporation of HoldCo, and (B) the board of directors of HoldCo will approve and adopt amended and restated bylaws of HoldCo, each in a form to be mutually agreed between CBRG and the Company. Following the Business Combination, HoldCo will change its name to Phytanix, Inc. and will be a publicly listed holding company which is expected to be listed on the Nasdaq Capital Market under the ticker symbol “PHYX.” The Business Combination is expected to close in the fourth quarter of 2024, following the receipt of the required approval by CBRG’s and the Company’s shareholders and the fulfillment of other customary closing conditions. Consideration Under the terms of the Business Combination Agreement, the aggregate consideration to be paid in the Business Combination is derived from an equity value of $58 million. In addition, HoldCo will issue 17,000 shares of HoldCo Series A convertible preferred stock and issue additional shares of HoldCo preferred stock in exchange for certain short term debt obligations of the Company. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 Representations and Warranties; Covenants The Business Combination Agreement contains representations, warranties and covenants of each of the parties thereto that are customary for transactions of this type. HoldCo has agreed to take all action as may be necessary or appropriate such that, immediately after the Closing, HoldCo’s board of directors will consist of up to seven directors, which shall be divided into three classes and be comprised of seven individuals determined by the Company, the CBRG Sponsor and CBRG prior to the effectiveness of the Registration Statement on Form S-4 (the “Registration Statement”), two of which directors shall be designated by the Company, in consultation with CBRG and the CBRG Sponsor, two of which directors shall be designated by the CBRG Sponsor, in consultation with the Company, and three of which directors shall be mutually agreed upon by the CBRG Sponsor and the Company. In addition, the board of directors of HoldCo will adopt an equity incentive plan and an employee stock purchase plan prior to the closing of the Business Combination. Conditions to Each Party’s Obligations The obligation of CBRG, HoldCo, CBRG Merger Sub, Company Merger Sub and the Company to consummate the Business Combination is subject to certain customary closing conditions, including, but not limited to, (i) the absence of any order, law or other legal restraint or prohibition issued by any court of competent jurisdiction or other governmental entity of competent jurisdiction prohibiting or preventing the consummation of the transactions contemplated by the Business Combination Agreement, (ii) the effectiveness of the Registration Statement to be filed by HoldCo, in accordance with the provisions of the Securities Act of 1933, as amended (the “Securities Act”), registering certain shares of HoldCo to be issued in the Business Combination, (iii) the required approval of the Company’s stockholders, (iv) the required approval of CBRG’s shareholders, (v) HoldCo having at least $5,000,001 of net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) after giving effect to the transactions contemplated by the Business Combination Agreement (provided such limitation has not been validly removed from the amended and restated memorandum and articles of association (the “Articles”) of CBRG prior to the Closing Date), (vi) the approval by Nasdaq of HoldCo’s initial listing application in connection with the Business Combination, (vii) entry into employment agreements with certain key Company executives, (viii) formation of a capital markets and financing advisory committee made up of certain CBRG directors, (ix) assumption or cancellation of certain existing Company and CBRG notes, and (x) entry into an agreement providing for a $100 million equity line of credit with Keystone Capital Partners, LLC or its affiliates. Termination The Business Combination Agreement may be terminated under certain customary and limited circumstances prior to the closing of the Business Combination, including, but not limited to, (i) by mutual written consent of CBRG and the Company, (ii) by CBRG if the representations and warranties of the Company are not true and correct or if the Company fails to perform any covenant or agreement set forth in the Business Combination Agreement (including an obligation to consummate the Closing), in each case such that certain conditions to closing cannot be satisfied and the breach or breaches of such representations or warranties or the failure to perform such covenant or agreement, as applicable, are not cured or cannot be cured within certain specified time periods, (iii) by the Company if the representations and warranties of the Company are not true and correct or if the Company fails to perform any covenant or agreement set forth in the Business Combination Agreement (including an obligation to consummate the Closing), in each case such that certain conditions to closing cannot be satisfied and the breach or breaches of such representations or warranties or the failure to perform such covenant or agreement, as applicable, are not cured or cannot be cured within certain specified time periods, (iv) by either CBRG or the Company if the required approvals are not obtained from CBRG shareholders after the conclusion of a meeting of CBRG’s shareholders held for such purpose at which such shareholders voted on such approvals, (v) by either CBRG or the Company, if any governmental entity of competent jurisdiction shall have issued an order permanently enjoining, restraining or otherwise prohibiting the transactions contemplated under the Business Combination Agreement and such order shall have become final and nonappealable, (vi) by CBRG if the Company does not deliver, or cause to be delivered to CBRG the written consent of the requisite shareholders of the Company adopting and approving the Business Combination and such failure is not cured within specified time periods, and (vii) by either CBRG or the Company if the transactions contemplated by the Business Combination Agreement have not been consummated on or prior to the last deadline for CBRG to consummate its initial business combination pursuant to the Articles. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 If the Business Combination Agreement is validly terminated, none of the parties to the Business Combination Agreement will have any liability or any further obligation under the Business Combination Agreement, except in the case of a willful and material breach or fraud and for customary obligations that survive the termination thereof (such as confidentiality obligations). Sponsor Letter Agreement Concurrently with the execution of the Business Combination Agreement, CBRG and the CBRG Sponsor, entered into a letter agreement (the “Sponsor Letter Agreement”), pursuant to which, among other things, (i) CBRG Sponsor agreed to vote its Class B Ordinary Shares in favor of each of the transaction proposals to be voted upon at the meeting of CBRG shareholders, including approval of the Business Combination Agreement and the transactions contemplated thereby, (ii) CBRG Sponsor agreed to waive any adjustment to the conversion ratio set forth in the governing documents of CBRG or any other anti-dilution or similar protection with respect to the Class B Ordinary Shares (whether resulting from the transactions contemplated by the Subscription Agreements (as defined below) or otherwise), and (iii) CBRG Sponsor agreed to be bound by certain transfer restrictions with respect to his, her or its shares in CBRG prior to the Closing. Company Stockholder Transaction Support Agreements Pursuant to the Business Combination Agreement, certain stockholders of the Company entered into transaction support agreements (collectively, the “Company Transaction Support Agreements”) with CBRG and the Company, pursuant to which such stockholders of the Company agreed to, among other things, (i) vote in favor of the Business Combination Agreement and the transactions contemplated thereby and (ii) be bound by certain covenants and agreements related to the Business Combination. Investor Rights Agreement Concurrently with the execution of the Business Combination Agreement, CBRG, HoldCo, the CBRG Sponsor, and certain Company stockholders entered into an investor rights agreement (the “Investor Rights Agreement”) pursuant to which, among other things, the CBRG Sponsor, and certain Company stockholders will be granted certain customary registration rights. Further, subject to customary exceptions set forth in the Investor Rights Agreement, the shares of HoldCo beneficially owned or owned of record by the CBRG Sponsor, certain officers and directors of CBRG and HoldCo (including any shares of HoldCo issued pursuant to the Business Combination Agreement) will be subject to a lock-up period beginning on the date the Closing occurs (the “Closing Date”) until the date that is the earlier of (i) 365 days following the Closing Date (or six months after the Closing Date if a lock up party is an independent director) or (ii) the first date subsequent to the Closing Date with respect to which the closing price of HoldCo Shares equals or exceeds $12.00 per share for any 20 trading days within any 30-trading day period commencing at least 150 days after the Closing Date. Secured Loan On June 26, 2024, Alterola Biotech, Inc. entered into a Secured Promissory Note with its subsidiary, Phytanix Bio, in the amount of $42,500 due on September 26, 2024. The agreement does not call for any interest and may be prepaid at anytime. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 2024 Financing On June 26, 2024, certain investors (the “Financing Investors”) and the Company entered into that certain Securities Purchase Agreement pursuant to which, among other things, the Financing Investors agreed to purchase (i) certain promissory notes of the Company in the original principal amount of $4,413,650.40, (ii) certain warrants to acquire Company Common Shares, and (iii) warrants to acquire Company Series A Preferred Shares. Loan Agreement On June 26, 2024, the Company agreed to loan CBRG $1,590,995.12, pursuant to an unsecured non-interest bearing promissory note (the “Bridge Financing Note”). The maturity date of the Bridge Financing Note is the later of (x) June 29, 2025 and (y) the consummation of the CBRG’s initial business combination. The Bridge Financing Note may not be repaid with funds from the trust account that CBRG established for the benefit of its public holders. The proceeds from the Bridge Financing Note will be used (i) to pay off certain working capital loans issued by CBRG to Fulton AC I LLC, (ii) to pay for certain fees and expenses incurred in connection with the transactions contemplated in the Bridge Financing Note and CBRG’s initial business combination and (iii) for other general corporate purposes. |
NOTE 1 _ NATURE OF BUSINESS, _2
NOTE 1 – NATURE OF BUSINESS, LIQUIDITY & GOING CONCERN (Policies) | 3 Months Ended |
Jun. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
LIQUIDITY & GOING CONCERN | LIQUIDITY & GOING CONCERN Alterola has negative working capital of $1,495,669 $12,837,659 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 2 _ SUMMARY OF SIGNIFICA_2
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation These unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). They include the accounts of Alterola and its wholly owned subsidiaries ABTI Pharma, Phytotherapeutix Ltd, Ferven Ltd and Phytanix Bio. All material intercompany transactions and balances have been eliminated. These financial statements and the notes attached hereto should be read in conjunction with the financial statements and notes included in the Company’s 10-K for its fiscal year ended March 31, 2024. In the opinion of the Company, all adjustments, including normal recurring adjustments necessary to present fairly the financial position of the Company, as of June 30, 2024, and the results of its operations and cash flows for the three months then ended have been included. The results of operations for the interim period are not necessarily indicative of the results for the full year ending March 31, 2025. 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. |
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. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 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. |
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 December 31, 2022, the financial statements were not materially impacted as a result of the application of Topic 606 compared to Topic 605. ALTEROLA BIOTECH, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2024 |
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 does not have any potentially dilutive instruments. |
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. |
Research and development | Research and development We engage in a variety of research and development activities to develop our technologies and work toward 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 June 30, 2024 and March 31, 2023 there are no capitalized research and development costs. The research and development costs incurred by the company relate to the following: • Licenses for patent and know-how ( Nano 4 M) - this relates to the company’s formulation of Active Pharmaceutical Ingredients ( API) for its lead pharmaceutical programs. • Protein Technologies Ltd – 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 as Apex Molecular Ltd. to synthesize and purify these compounds for their pharmaceutical development programs. • Acquisition of intellectual property from Alinova Biosciences Ltd. • Continued patent prosecution and internationalization of company intellectual property. • Staff costs and consultancy costs relating to R & D. |
Other Intangible Assets | Other Intangible Assets We have recorded the assets acquired as part of the C2 Wellness acquisition as indefinite lived Intangible assets. Indefinite life intangible assets recorded are not amortized and, as a result, are assessed for impairment at least annually, using either a qualitative or quantitative process. The C2 Wellness assets that were acquired were subsequently re-sold as discussed above. We performed this annual assessment as of March 31, 2024, noting impairment factors indicating possible impairment of intangible assets recognized and recorded impairment of $392,278 |
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. We may be impacted by business interruptions resulting from pandemics and public health emergencies, including those related to geopolitical actions, including war and terrorism or natural disasters including earthquakes, typhoons, floods, and fires. An outbreak of infectious disease, a pandemic or a similar public health threat or a fear of any of the foregoing, could adversely impact us by causing operating, manufacturing supply chain, clinical trial and project development delays and disruptions, labour shortages, travel and shipping disruption and shutdowns (including as a result of government regulation and prevention measures). It is unknown whether and how we may be affected if such an epidemic persists for an extended period of time. We may incur expenses or delays relating to such events outside of our control, which could have a material adverse impact on our business, operating results, and financial condition. |
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 5 _ ACCOUNTS PAYABLE (Tabl
NOTE 5 – ACCOUNTS PAYABLE (Tables) | 3 Months Ended |
Jun. 30, 2024 | |
Payables and Accruals [Abstract] | |
NOTE 5 - ACCOUNTS PAYABLE - Summary of Accounts Payable | June 30, 2024 March 31,2024 Accounting and audit fees $ 174,113 $ 181,955 Research and development 344,365 409,904 General and administrative 308,189 147,724 Legal fees and transfer agent 39,057 85,627 Total Accounts Payable $ 865,724 $ 825,210 |
NOTE 6 _ ACCRUED EXPENSES (Tabl
NOTE 6 – ACCRUED EXPENSES (Tables) | 3 Months Ended |
Jun. 30, 2024 | |
Payables and Accruals [Abstract] | |
NOTE 6 - ACCRUED EXPENSES - Schedule of Accrued Expenses | June 30, 2024 March 31,2024 Accounting and audit fees $ 56,936 $ 49,468 Research and development 35,576 — General and administrative 290,168 89,508 Legal fees and transfer agent 107,484 223,475 Total Accrued Expenses $ 490,164 $ 362,451 |
NOTE 1 _ NATURE OF BUSINESS, _3
NOTE 1 – NATURE OF BUSINESS, LIQUIDITY & GOING CONCERN (Details Narrative) - USD ($) | 177 Months Ended | ||||||
Sep. 08, 2023 | Apr. 18, 2023 | Jan. 19, 2021 | May 03, 2010 | Jun. 30, 2024 | Mar. 31, 2024 | May 28, 2021 | |
Liabilities | $ 1,507,635 | $ 1,333,264 | $ 389,721 | ||||
Banking Regulation, Total Capital, Actual | 1,495,669 | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 12,837,659 | ||||||
Patent P T X [Member] | |||||||
Stock Issued During Period, Shares, Acquisitions | 5,000,000 | ||||||
Oil and Gas, Full Cost Method, Capitalized Cost Excluded from Amortization, Acquisition Cost, Period Cost | $ 35,000 | ||||||
Director | |||||||
Stock Issued During Period, Shares, Acquisitions | 55,000,000 | ||||||
Consulting Services | |||||||
Stock Issued During Period, Shares, Acquisitions | 600,000,000 | ||||||
C 2 Wellness Agreement Return Assets [Member] | |||||||
Stock Repurchased During Period, Shares | 29,015,993 |
NOTE 2 _ SUMMARY OF SIGNIFICA_3
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) | 3 Months Ended |
Jun. 30, 2024 USD ($) | |
Accounting Policies [Abstract] | |
Impairment of Intangible Assets, Finite-Lived | $ 392,278 |
NOTE 3 _ INTANGIBLE ASSETS (Det
NOTE 3 – INTANGIBLE ASSETS (Details Narrative) - USD ($) | Mar. 31, 2024 | Dec. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Intangible Assets, Current | $ 12,000,000 | |
[custom:IntangibleAssetsCurrentAdjusted-0] | $ 12,139,779 |
NOTE 4 _ DEFERRED TAX ASSET (De
NOTE 4 – DEFERRED TAX ASSET (Details Narrative) | Mar. 31, 2023 USD ($) |
Income Tax Disclosure [Abstract] | |
Deferred Tax Assets, Net of Valuation Allowance | $ 189,355 |
NOTE 5 - ACCOUNTS PAYABLE - Sum
NOTE 5 - ACCOUNTS PAYABLE - Summary of Accounts Payable (Details) - USD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accounts Payable | $ 865,724 | $ 825,210 |
Accounting And Audit Fees [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accounts Payable | 174,113 | 181,955 |
Research And Development [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accounts Payable | 344,365 | 409,904 |
General And Administrative [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accounts Payable | 308,189 | 147,724 |
Legal And Transfer Agent [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accounts Payable | $ 39,057 | $ 85,627 |
NOTE 6 - ACCRUED EXPENSES - Sch
NOTE 6 - ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($) | Jun. 30, 2024 | Mar. 31, 2024 |
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accrued Expenses | $ 490,164 | $ 362,451 |
Accounting And Audit Fees [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Accrued Professional Fees, Current | 56,936 | 49,468 |
Research And Development [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Total Accrued Expenses | 35,576 | |
General And Administrative [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Accrued Professional Fees, Current | 290,168 | 89,508 |
Legal And Transfer Agent [Member] | ||
Interim Period, Costs Not Allocable [Line Items] | ||
Accrued Professional Fees, Current | $ 107,484 | $ 223,475 |
NOTE 7 _ CAPITAL STOCK (Details
NOTE 7 – CAPITAL STOCK (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | |||||||||||||||||||||||
May 16, 2024 | May 09, 2024 | Dec. 21, 2023 | Oct. 16, 2023 | Sep. 08, 2023 | Jun. 14, 2023 | Jun. 13, 2023 | Jun. 06, 2023 | May 04, 2022 | May 02, 2022 | Apr. 29, 2022 | Apr. 05, 2022 | Mar. 03, 2022 | Dec. 21, 2021 | Nov. 09, 2021 | Oct. 29, 2021 | Aug. 11, 2021 | Sep. 30, 2021 | Jun. 30, 2024 | Jun. 30, 2023 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Sep. 21, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Common Stock, Shares Authorized | 2,000,000,000 | 2,000,000,000 | |||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | |||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 277,700 | $ 305,762 | |||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | 203,700 | 305,672 | |||||||||||||||||||||||
Intangible Assets, Current | $ 12,000,000 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Other | 157,339 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 44,064,000 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | |||||||||||||||||||||||||
Contract with Customer, Asset, Allowance for Credit Loss, Writeoff | $ 12,000,000 | ||||||||||||||||||||||||
[custom:LossOnExchangeOfSharesForDebt] | $ 406,575 | ||||||||||||||||||||||||
[custom:TranslationAmendedAmount] | $ 67,873 | ||||||||||||||||||||||||
Common Stock, Shares, Issued | 1,467,475,449 | 807,047,948 | 1,382,662,952 | 807,047,948 | |||||||||||||||||||||
Common Stock, Shares, Outstanding | 1,467,475,449 | 807,047,948 | 1,382,662,952 | 807,047,948 | |||||||||||||||||||||
Preferred Stock, Shares Issued | 0 | 0 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | |||||||||||||||||||||||
Warrant Shares [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 15,000,000 | ||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.64 | ||||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.001 | ||||||||||||||||||||||||
Class of Warrant or Right, Expense or Revenue Recognized | The total potential impact on the financial statements of the exercise of the warrants was approximately $13,500 | the total potential impact on the financial statements of the exercise of the warrants was approximately $1 million dollars | |||||||||||||||||||||||
Warrants and Rights Outstanding, Maturity Date | Jun. 13, 2023 | ||||||||||||||||||||||||
Consultancy Agreement [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.214 | ||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 136,721 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 1,500,000 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 321,000 | ||||||||||||||||||||||||
Subscription [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 280,000 | ||||||||||||||||||||||||
Common Stock, Shares Subscribed but Unissued | 280,000 | ||||||||||||||||||||||||
E M C 2 Capital Services [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 7,500,000 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 2,399,250 | ||||||||||||||||||||||||
A P A Nov 9 [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.50 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Acquisitions | 24,000,000 | ||||||||||||||||||||||||
Investor Issuance Two [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 333,333 | 520,000 | |||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.15 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Other | $ 50,000 | $ 130,000 | |||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Investor Issuance Three [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 280,000 | 384,615 | |||||||||||||||||||||||
Shares Issued, Price Per Share | $ 0.13 | ||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 136,721 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Other | $ 50,000 | ||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.50 | ||||||||||||||||||||||||
Investor Issuance Three In Dollars [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ 140,000 | ||||||||||||||||||||||||
Hunter Land Director Issuance [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0037 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 5,000,000 | 2,250,000 | |||||||||||||||||||||||
E M C 2 Capital L L C [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Value, Conversion of Convertible Securities | $ 13,500,000 | ||||||||||||||||||||||||
Stock Redeemed or Called During Period, Shares | 15,000,000 | ||||||||||||||||||||||||
Alison Burgess [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 476,000 | ||||||||||||||||||||||||
Loans Payable | $ 125,000 | ||||||||||||||||||||||||
Alinova Biosciences [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Acquisitions | 5,000,000 | ||||||||||||||||||||||||
Long Eight Limited [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 5,999,900 | ||||||||||||||||||||||||
Warren Law Group [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 10,088,100 | ||||||||||||||||||||||||
Directors [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 9,000,000 | ||||||||||||||||||||||||
C 2 Wellness Agreement Return Assets [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Repurchased During Period, Shares | 29,015,993 | ||||||||||||||||||||||||
C 2 Wellness Agreement Return Assets Initially Issued [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Repurchased During Period, Shares | 24,000,000 | ||||||||||||||||||||||||
C 2 Wellness Agreement Return Assets Additionally Issued [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Repurchased During Period, Shares | 5,015,996 | ||||||||||||||||||||||||
Stock Issued Forgive Debt [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 587,499,996 | ||||||||||||||||||||||||
Dec 2023 Services [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 17,131,001 | ||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 61,672 | ||||||||||||||||||||||||
Long Eight May 9 [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 39,000,000 | ||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0037 | ||||||||||||||||||||||||
Long Eight May 16 [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 18,000,000 | ||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0033 | ||||||||||||||||||||||||
Guy Webber Services [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 7,812,500 | ||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0037 | ||||||||||||||||||||||||
Nathan Thompson Director [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0037 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 5,000,000 | ||||||||||||||||||||||||
Ning Qu Director [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0037 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 5,000,000 | ||||||||||||||||||||||||
Daniel Rashef Director Issuance [Member] | |||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 0.0037 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Employee Benefit Plan | 5,000,000 |
NOTE 8 _ NOTES PAYABLE (Details
NOTE 8 – NOTES PAYABLE (Details Narrative) - USD ($) | 3 Months Ended | 5 Months Ended | |||||||
Jun. 26, 2024 | Jun. 13, 2023 | Aug. 01, 2022 | Sep. 21, 2021 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 23, 2022 | Mar. 31, 2024 | Jul. 18, 2022 | |
Short-Term Debt [Line Items] | |||||||||
Stock Issued During Period, Value, Other | $ 157,339 | ||||||||
Loans Payable, Current | $ 151,747 | $ 145,603 | |||||||
Alison Burgess [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Stock Issued During Period, Shares, Other | 476,000 | ||||||||
Loans Payable | $ 125,000 | ||||||||
Note Payable One [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Proceeds from Notes Payable | $ 171,863 | ||||||||
Debt Instrument, Term | 90 days | ||||||||
Debt Instrument, Interest Rate Terms | with an interest fee of $13,680 | ||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | The conversion option would be at 90 days, with share conversion at .50 cents, with an issuance of 340,000 shares, valued at $428,400 at the date of the loan. | ||||||||
Debt Conversion, Converted Instrument, Shares Issued | 476,000 | ||||||||
Debt Conversion, Converted Instrument, Rate | 60% | ||||||||
Debt Instrument, Convertible, Stock Price Trigger | $ 1.37 | ||||||||
Note Payable One Share Bonus [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Stock Issued During Period, Shares, Other | 136,000 | ||||||||
Stock Issued During Period, Value, Other | $ 171,000 | ||||||||
Note Payable Two [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Debt Instrument, Term | 90 days | ||||||||
Loans Payable, Current | $ 75,000 | ||||||||
Common Stock, Shares Subscribed but Unissued | 2,250,000 | ||||||||
Repayments of Long-Term Loans from Vendors | $ 75,000 | ||||||||
Phytanix Bio Note [Member] | |||||||||
Short-Term Debt [Line Items] | |||||||||
Notes Payable | $ 42,500 | ||||||||
Debt Instrument, Maturity Date | Sep. 26, 2024 |
NOTE 9 _ RELATED PARTY TRANSA_2
NOTE 9 – RELATED PARTY TRANSACTIONS (Details Narrative) | 3 Months Ended |
Jun. 30, 2024 USD ($) | |
Related Party Transactions [Abstract] | |
[custom:ShareholderAdvances] | $ 6,144 |