10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

[X]	Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
	For the quarterly period ended June 30, 2017
[  ]	Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934
	For the transition period from __________  to __________
	Commission File Number: 333-156091

Alterola Biotech, Inc.

(Exact name of Registrant as specified in its charter)

Nevada	TBA
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification No.)

340 S Lemon Ave # 4041

Walnut, California 91789

(Address of principal executive offices)

909-584-5853

(Registrant’s telephone number)

 _______________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days

[ ] Yes [X] No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.

[  ] Large accelerated filer	[  ] Accelerated filer
[  ] Non-accelerated filer	[X] Smaller reporting company
	[  ] Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

[X] Yes [ ] No

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 114,980,000 common shares as of September 4, 2018

	TABLE OF CONTENTS	Page
PART I – FINANCIAL INFORMATION
Item 1:	Financial Statements	3
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4
Item 3:	Quantitative and Qualitative Disclosures About Market Risk	6
Item 4:	Controls and Procedures	6
PART II – OTHER INFORMATION
Item 1:	Legal Proceedings	7
Item 1A:	Risk Factors	7
Item 2:	Unregistered Sales of Equity Securities and Use of Proceeds	7
Item 3:	Defaults Upon Senior Securities	7
Item 4:	Mine Safety Disclosure	7
Item 5:	Other Information	7
Item 6:	Exhibits	7

2

PART I - FINANCIAL INFORMATION

Item 1.     Financial Statements

Our financial statements included in this Form 10-Q are as follows:

F-1   Balance Sheets as of June 30, 2017 and September 30, 2016 (unaudited);

F-2   Statements of Operations for the three and nine months ended June 30, 2017 and 2015 (unaudited);

F-3  Statements of Cash Flow for the nine months ended June 30, 2017 and 2015 (unaudited);

F-4   Notes to Financial Statements.

These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the Securities Exchange Commission (“SEC”) instructions to Form 10-Q.  In the opinion of management, all adjustments considered necessary for a fair presentation have been included.  Operating results for the interim period ended June 30, 2017 are not necessarily indicative of the results that can be expected for the full year.

3

ALTEROLA BIOTECH, INC.

BALANCE SHEETS (unaudited)

AS OF JUNE 30, 2017 AND SEPTEMBER 30, 2016 

	June 30, 2017 (Unaudited)			September 30, 2016 (Audited)
ASSETS
Current Assets
Cash and equivalents	$	—		$	—
		—			—
Website, net		258			2,583
TOTAL ASSETS	$	258		$	2,583
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accrued expenses	$	12,442		$	11,351
Accrued interest		93,403			79,528
Advances from director		750			750
Notes payable		175,000			175,000
Total Liabilities		281,595			266,629
Stockholders’ Deficit
Preferred Stock, $.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding		0			0
Common Stock, $.001 par value, 140,000,000 shares authorized, 114,980,000 shares issued and outstanding		114,980			114,980
Additional paid-in capital		132,850			132,850
Deficit accumulated		(529,167	)		(511,876)
Total Stockholders’ Deficit		(281,337	)		(264,046)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	258		$	2,583

See accompanying notes to financial statements.

F-1

ALTEROLA BIOTECH, INC.

STATEMENTS OF OPERATIONS (unaudited)

FOR THE THREE MONTHS AND NINE MONTHS ENDED JUNE 30, 2017 AND 2016 

	Three months ended June 30, 2017			Three months ended June 30, 2016			Nine months ended June 30, 2017			Nine months ended June 30, 2016
REVENUES	$	0		$	0		$	0		$	0
OPERATING EXPENSES
Amortization		775			775			2,325			2,325
Accounting and audit fees		250			250			750			1,250
Legal fees		0			1,818			0			7,813
General and administrative expenses		115			0			341			2,318
TOTAL OPERATING EXPENSES		1,140			2,843			3,416			13,706
LOSS FROM OPERATIONS		(1,140	)		(2,843	)		(3,416	)		(13,706)
OTHER INCOME (EXPENSE)
Interest expense		(4,625	)		(4,625	)		(13,875	)		(13,394)
Forgiveness of debt		0			0			0			10,173
TOTAL OTHER INCOME (EXPENSE)		(4,625	)		(4,625	)		(13,875	)		(3,221)
PROVISION FOR INCOME TAXES		0			0			0			0
NET (LOSS)	$	(5,765	)	$	(7,468	)	$	(17,291	)	$	(16,927)
NET (LOSS) PER SHARE: BASIC AND DILUTED	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED		114,980,000			114,980,000			114,980,000			114,980,000

See accompanying notes to financial statements.

F-2

ALTEROLA BIOTECH, INC.

STATEMENTS OF CASH FLOWS (unaudited)

FOR THE NINE MONTHS ENDED JUNE 30, 2017 AND 2016

	2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) for the period	$	(17,291	)	$	(16,927)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization		2,325			2,325
Changes in assets and liabilities:
Increase (decrease) in accrued expenses		1,091			(26,423)
Increase in accrued interest		13,875			13,394
Net Cash Used by Operating Activities		0			(27,631)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of intellectual property		0			0
Website development		0			0
Net Cash Used by Investing Activities		0			0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable		0			25,000
Net Cash Provided by Financing Activities		0			25,000
Net Increase (Decrease) in Cash and Cash Equivalents		0			(2,631)
Cash and cash equivalents, beginning of period		0			2,631
Cash and cash equivalents, end of period	$	0		$	0
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	$	0		$	0
Income taxes paid	$	0		$	0
NON-CASH INVESTING AND FINANCING INFORMATION
Deferred financing costs related to notes payable	$	0		$	0

See accompanying notes to financial statements.

F-3

ALTEROLA BIOTECH, INC.

NOTES TO THE FINANCIAL STATEMENTS

JUNE 30, 2017 (UNAUDITED) AND SEPTEMBER 30, 2016

NOTE 1 – NATURE OF BUSINESS

Alterola Biotech, Inc. (“Alterola” and the “Company”) is a development stage company and was incorporated in Nevada on July 21, 2008. The Company was formed for the purpose of acquiring exploration and development stage mineral properties.

On October 1, 2008, the Company incorporated JRE Exploration Ltd, (“JRE”) a wholly owned subsidiary in Canada for the purpose of holding its Canadian mineral claims.

On May 3, 2010, the Company changed its focus to the development of intellectual property and accordingly sold JRE to the former president. (See Note 3). In keeping with the change of business focus, on July 9, 2010, the Company changed its name to Alterola Biotech Inc.

In April 2017, the Company entered into an assignment with its director to convey all assetsand intellectual property to its former director for the cancellation of 37,000,000 shares of the Company.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has a September 30 fiscal year end.

Basis of Presentation

The accompanying unaudited interim financial statements of Alterola Biotech Inc. were prepared in accordance with GAAP and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the financial statements and notes thereto contained in the Company’s registration statement filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the financial statements for the most recent fiscal year 2016 as reported in Form 10-K, were omitted.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Equivalents

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

F-4

ALTEROLA BIOTECH, INC.

NOTES TO THE FINANCIAL STATEMENTS

JUNE 30, 2017(UNAUDITED) AND SEPTEMBER 30, 2016

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Intellectual Property

The Company does not amortize intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment. The Company will amortize its acquired intangible assets with definite lives over the estimated economic life of the completed product.

Website Development Costs

Costs incurred in developing and maintaining a website are charged to expense when incurred for the planning, content population, and administration or maintenance of the website. All development costs for the application, infrastructure, and graphics development are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs are amortized using straight-line basis over two years, the estimated economic life of the completed website.

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 fair value are observable in the market. Each FV measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the 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.

F-5

ALTEROLA BIOTECH, INC.

NOTES TO THE FINANCIAL STATEMENTS

JUNE 30, 2017(UNAUDITED) AND SEPTEMBER 30, 2016

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Fair Value of Financial Instruments (continued)

Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The FVs are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.

The carrying value of the Company’s financial assets and liabilities which consist of cash, accounts payable and accrued liabilities, and notes payable are valued using level 1 inputs. The Company believes that the recorded values approximate their FV due to the short maturity of such instruments. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, exchange or credit risks arising from these financial instruments.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Revenue Recognition

The Company will recognize revenue when products are fully delivered or services were provided and collection is reasonably assured.

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.

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. 

F-6

ALTEROLA BIOTECH, INC.

NOTES TO THE FINANCIAL STATEMENTS

JUNE 30, 2017(UNAUDITED) AND SEPTEMBER 30, 2016

NOTE 3 – ACCRUED EXPENSES

Accrued expenses consisted of the following at June 30, 2017 (unaudited) and September 30, 2016:

	June 30, 2017		September 30, 2016
Audit fees	$	1,000	$	1,000
Accounting		3,350		2,600
Legal fees		8,092		7,751
Total Accrued Expenses	$	12,442	$	11,351

During the year ended September 30, 2016, the Company negotiated a settlement of certain legal expenses, in which $10,173 of accrued invoices was forgiven.

NOTE 4 – NOTES PAYABLE

Notes payable consisted of the following at June 30, 2017 (unaudited) and September 30, 2016:

	June 30, 2017		September 30, 2016
Note payable, unsecured, bearing interest at 12%, due on June 26, 2011	$	30,000	$	30,000
Convertible note payable, unsecured, bearing interest at 12%, due on July 24, 2011		50,000		50,000
Note payable, unsecured, bearing interest at 10% plus financing charge of $2,500, due on October 10, 2013		27,500		27,500
Note payable, unsecured, bearing interest at 10% plus financing charge of $1,500, due on February 13, 2014		16,500		16,500
Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014		6,000		6,000
Note payable, unsecured, bearing interest at 10%, due on demand		20,000		20,000
Note payable, unsecured, bearing interest at 10%, due on demand		25,000		25,000
Total Notes payable	$	175,000	$	175,000

The Convertible note is convertible at the option of the holder. The number of shares of common stock into which the convertible note will be converted is determined by the Fair Market Price (“FMV”) of the common stock at the date of conversion. In the event there is no determinable market price the FMV shall be:

a) The share price at the last private offering of the common stock, or, b) the 30 day moving average of the Common Stock in the event a public listing of the common stock has taken place.

Notes payable of $130,000 are currently in default as of the date of issuance of these financial statements.

F-7

ALTEROLA BIOTECH, INC.

NOTES TO THE FINANCIAL STATEMENTS

JUNE 30, 2017(UNAUDITED) AND SEPTEMBER 30, 2016

NOTE 5 – CAPITAL STOCK

The Company has 140,000,000 shares of $0.001 par value common stock authorized and 10,000,000 shares of $0.001 par value preferred stock authorized.

On April 10, 2017, a former director returned for voluntary cancellation 37,000,000 shares of common stock with a deemed value of $37,000

The Company has 114,980,000 shares of common stock issued and outstanding as of June 30, 2017 and September 30, 2016 respectively. There are no shares of preferred stock issued and outstanding as of June 30, 2017 and September 30, 2016.

NOTE 6 – RELATED PARTY TRANSACTIONS

Alterola neither owns nor leases any real or personal property. An officer has provided office space without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

NOTE 7 – LIQUIDITY & GOING CONCERN

Alterola has negative working capital, has incurred losses since inception, and has not yet received revenues from sales of products or services. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

The ability of Alterola to continue as a going concern depends 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 8 – SUBSEQUENT EVENTS

In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to June 30, 2017 to the date these financial statements were issued, and determined it does not have any material subsequent events to disclose in these financial statements.

F-8

Item 2.     Management’s Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.   These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions.  We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions.  Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.  Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.  We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.  Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

Overview

Our Business

We are developing 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.

Our plan is to market nutraceutical/functional chewing gum and in the future medicinal chewing gum. We are researching new ways to use chewing gum as a delivery system, expanding on the kinds of applications chewing gum has been used for in the past. We initially expected to reveal functional chewing gum for new applications by the end of 2014, but we were not able to. We first need to raise additional capital to develop our chewing gum for the delivery of medicines.

Our mission is to improve the health and quality of life for millions of people all over the world who are unable to or have difficulty with swallowing tablets. As much as 40% of the adult population and an even greater percentage of the adolescent population have difficulties swallowing pills, and we believe our solutions will greatly benefit them.

Presently, we are focused on nutrition and health chewing gum with natural based ingredients. The products below are currently under development and we are working to file patents to protect the ingredients in these products.

§ Appetite suppressor

§ Cholesterol suppressor

§ Antioxidant gum

§ Motion sickness suppressor

§ Vitamin gum

In order to implement our business plan, however, we will need to raise funds. We were able to secure loans to pay the legal and accounting fees needed to keep our reporting filings current with the SEC. We will need more funds to meet our timetable of introducing Nutraceutical/functional chewing gum. We expect to need capital of $500,000 to develop our product.

4

Corporate History

On April 10, 2017, we entered into an Agreement of Conveyance, Transfer and Assignment of Assets (the “Agreement”) with our prior officer and director, Rene Lauritsen. Pursuant to the Agreement, we transferred all assets related to our nutraceutical chewing gum business to Mr. Lauritsen. In exchange for this assignment of assets, Mr. Lauritsen returned his 37,000,000 of our shares for cancellation.

Prior to resigning, Mr Lauritsen appointed Micahel Freitag as our sole officer and director and we agreed to compensate him with 37,000,000 shares of our common stock for his first nine months of service.

As of April 10, 2017, we intended to raise further capital, bring all public filings current and set about a new business direction based around a novel therapy and the intellectual property generated from our research and development activities on ethanol based intoxication.

Subsequently, on March 26, 2018, Mr. Freitag sold his control shares along with another shareholder, Krono Partners Limited, to London Pharma Holdings Limited for $200,000. This resulted in a change of control.

Also on March 26, 2018, Mr. Freitag resigned from his official positions as Director and CEO of the Company, and on the same day the shareholders of the Corporation voted Mr. Peter Maddocks as Director, and CEO.

On June 21, 2018, we signed an escrow agreement with Mr. Lauritsen to serve as our Chief Operating Officer and to contribute the IP for the company’s chewing gum business. In that agreement, we have agreed to enter into an employment agreement with Mr. Lauritsen and to pay him a salary of $7,500 per month. For the IP, we have agreed to compensate Mr. Lauritsen with 1,000,000 shares of our common stock and cash of $75,000. Neither the employment agreement nor the IP transfer agreement have been executed as of the date of this report.

Results of Operations for the Three and Nine Months Ended June 30, 2017 and 2016

We have generated no revenues since inception and we do not anticipate earning revenues until such time that we are able to market and sell our products.

We incurred operating expenses of $1,140 for the three months ended June 30, 2017, compared with $2,843 for the three months ended June 30, 2016. Our operating expenses for the three months ended June 30, 2017 consisted of $775 in amortization, $250 in accounting and audit fees and $115 in general and administrative expenses. Our operating expenses for the three months ended June 30, 2016 consisted of $1,818 in legal fees, $775 in amortization and $250 in accounting and audit fees.

We incurred operating expenses of $3,416 for the nine months ended June 30, 2017, compared with $13,706 for the nine months ended June 30, 2016. Our operating expenses for the nine months ended June 30, 2017 consisted of $2,325 in amortization, $750 in accounting and audit fees and $341 in general and administrative expenses. Our operating expenses for the nine months ended June 30, 2016 consisted of $7,813 in legal fees, $2,325 in amortization, $1,250 in accounting and audit fees and $2,318 in general and administrative expenses.

We incurred other expenses of $4,625 for the three months ended June 30, 2017, which consisted of interest expense, compared to other income of $4,625, which also consisted of interest expense for the three months ended June 30, 2016.

We incurred other expenses of $13,875 for the nine months ended June 30, 2017, which consisted of interest expense, compared to other expenses of $3,221, which consisted of $13,394 in interest expense, offset by $10,173 in forgiveness of debt for the nine months ended June 30, 2016.

We recorded a net loss of $5,765 for the three months ended June 30, 2017, compared with a net loss of $7,468 for the three months ended June 30, 2016. We recorded a net loss of $17,291 for the nine months ended June 30, 2017, as compared with a net loss of $16,927 for the nine months ended June 30, 2016.

5

Liquidity and Capital Resources

As of June 30, 2017, we had $0 in current assets and currently liabilities of $281,595. We had a working capital deficit of $281,595 as of June 30, 2017.

Operating activities used $0 in cash for the nine months ended June 30, 2017, compared with $27,631 for the comparable period ended June 30, 2016. Our negative operating cash flow for the nine months ended June 30, 2016 was mainly attributable to a decrease in accrued expenses and net loss for the period, offset by an increase in accrued interest.

Financing activities provided $0 for the nine months ended June 30, 2017, compared with $25,000 for the period ended June 30, 2016 when on December 10, 2015, we entered into a $25,000 Demand Promissory Note with an outside investor. Under the terms of the note, simple interest at 10% and all principal are due on demand.

Based upon our current financial condition, we do not have sufficient cash to operate our business at the current level for the next 12 months. We intend to fund operations through increased sales and debt and/or equity financing arrangements, which may be insufficient to fund expenditures or other cash requirements. We plan to seek additional financing in a private equity offering to secure funding for operations. There can be no assurance that we will be successful in raising additional funding. If we are not able to secure additional funding, the implementation of our business plan will be impaired. There can be no assurance that such additional financing will be available to us on acceptable terms or at all.

Off Balance Sheet Arrangements

As of June 30, 2017, we had no off balance sheet arrangements.

Going Concern

Our financial statements were prepared assuming we will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. We have incurred cumulative losses of $529,167 for the period July 21, 2008 (inception date) through June 30, 2017, expect to incur further losses in the development of our business and have been dependent on funding operations through the issuance of convertible debt and private sale of equity securities. These conditions raise substantial doubt about our ability to continue as a going concern. Management’s plans include continuing to finance operations through the private or public placement of debt and/or equity securities and the reduction of expenditures. However, no assurance can be given at this time as to whether we will be able to achieve these objectives. The financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.

Item 3.     Quantitative and Qualitative Disclosures About Market Risk

A smaller reporting company is not required to provide the information required by this Item.

Item 4.     Controls and Procedures

Disclosure Controls and Procedures

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of June 30, 2017. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of June 30, 2017, our disclosure controls and procedures were not effective due to the presence of material weaknesses in internal control over financial reporting.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has identified the following material weaknesses which have caused management to conclude that, as of June 30, 2017, our disclosure controls and procedures were not effective: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.

6

Remediation Plan to Address the Material Weaknesses in Internal Control over Financial Reporting

Our company plans to take steps to enhance and improve the design of our internal controls over financial reporting. During the period covered by this quarterly report on Form 10-Q, we have not been able to remediate the material weaknesses identified above. To remediate such weaknesses, we plan to implement the following changes during our fiscal year ending September 30, 2018: (i) appoint additional qualified personnel to address inadequate segregation of duties and ineffective risk management; and (ii) adopt sufficient written policies and procedures for accounting and financial reporting. The remediation efforts set out are largely dependent upon our securing additional financing to cover the costs of implementing the changes required. If we are unsuccessful in securing such funds, remediation efforts may be adversely affected in a material manner.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during the three months ended June 30, 2017 that have materially affected, or are reasonable likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1.     Legal Proceedings

We are not a party to any pending legal proceeding. We are not aware of any pending legal proceeding to which any of our officers, directors, or any beneficial holders of 5% or more of our voting securities are adverse to us or have a material interest adverse to us.

Item 1A:  Risk Factors

A smaller reporting company is not required to provide the information required by this Item.

Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3.     Defaults upon Senior Securities

None

Item 4.     Mine Safety Disclosures

Not applicable.

Item 5.     Other Information

None

Item 6.      Exhibits

Exhibit Number	Description of Exhibit
31.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101**	The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017 formatted in Extensible Business Reporting Language (XBRL).
**Provided herewith

7

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Alterola Biotech, Inc.
Date:	September 10, 2018
	By: /s/ Peter Maddocks Peter Maddocks Title:   Chief Executive Officer, Chief Financial Officer and Director

8

EX-31.1

CERTIFICATIONS

I, Peter Maddocks, certify that;

1. I have reviewed this quarterly report on Form 10-Q for the quarter ended June 30, 2017 of Alterola Biotech, Inc. (the “registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 10, 2018

/s/ Peter Maddocks

By: Peter Maddocks

Title: Chief Executive Officer

EX-31.2

CERTIFICATIONS

I, Peter Maddocks, certify that;

1. I have reviewed this quarterly report on Form 10-Q for the quarter ended June 30, 2017 of Alterola Biotech, Inc. (the “registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 10, 2018

/s/ Peter Maddocks

By: Peter Maddocks

Title: Chief Financial Officer

EX-32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND

CHIEF FINANCIAL OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly Report of Alterola Biotech, Inc. (the “Company”) on Form 10-Q for the quarter ended June 30, 2017 filed with the Securities and Exchange Commission (the “Report”), I, Peter Maddocks, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the consolidated financial condition of the Company as of the dates presented and the consolidated result of operations of the Company for the periods presented.

By:	/s/ Peter Maddocks
Name:	Peter Maddocks
Title:	Principal Executive Officer, Principal Financial Officer and Director
Date:	September 10, 2018

This certification has been furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

XML

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2017	Sep. 04, 2018
Document And Entity Information
Entity Registrant Name	Alterola Biotech Inc.
Entity Central Index Key	0001442999
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		114,980,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2017

XML

Balance Sheets - USD ($)	Jun. 30, 2017	Sep. 30, 2016
Current Assets
Cash and equivalents
Website, net	258	2,583
TOTAL ASSETS	258	2,583
Current Liabilities
Accrued expenses	12,442	11,351
Accrued interest	93,403	79,528
Advances from director	750	750
Notes payable	175,000	175,000
Total Liabilities	281,595	266,629
Stockholders’ Deficit
Preferred Stock, $.001 par value, 10,000,000 shares authorized, -0- shares issued and outstanding	0	0
Common Stock, $.001 par value, 140,000,000 shares authorized, 114,980,000 shares issued and outstanding	114,980	114,980
Additional paid-in capital	132,850	132,850
Deficit accumulated	(529,167)	(511,876)
Total Stockholders’ Deficit	(281,337)	(264,046)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$ 258	$ 2,583

XML

Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Sep. 30, 2016
Statement of Financial Position [Abstract]
Common stock, Par Value	$ .001	$ 0.001
Common stock, Shares Authorized	140,000,000	140,000,000
Common stock, Issued	114,980,000	114,980,000
Preferred Stock, Par Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Issued	0	0

XML

Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
REVENUES	$ 0	$ 0	$ 0	$ 0
OPERATING EXPENSES
Amortization	775	775	2,325	2,325
Accounting and audit fees	250	250	750	1,250
Legal fees	0	1,818	0	7,813
General and administrative expenses	115	0	341	2,318
TOTAL OPERATING EXPENSES	1,140	2,843	3,416	13,706
LOSS FROM OPERATIONS	(1,140)	(2,843)	(3,416)	(13,706)
OTHER INCOME (EXPENSE)
Interest expense	(4,625)	(4,625)
Forgiveness of debt	0	0	0	10,173
TOTAL OTHER INCOME (EXPENSE)	(4,625)	(4,625)	(13,875)	(3,221)
PROVISION FOR INCOME TAXES	0	0	0	0
NET (LOSS)	$ (5,765)	$ (7,468)	$ (17,291)	$ (16,927)
NET (LOSS) PER SHARE: BASIC AND DILUTED	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED	114,980,000	114,980,000	114,980,000	114,980,000

XML

Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) for the period	$ (17,291)	$ (16,927)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization	2,325	2,325
Changes in assets and liabilities:
Increase (decrease) in accrued expenses	1,091	(26,423)
Increase in accrued interest	13,875	13,394
Net Cash Used by Operating Activities	0	(27,631)
Acquisition of intellectual property	0	0
Website development	0	0
Net Cash Used by Investing Activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable	0	25,000
Net Cash Provided by Financing Activities	0	25,000
Net Increase (Decrease) in Cash and Cash Equivalents	0	(2,631)
Cash and cash equivalents, beginning of period	0	2,631
Cash and cash equivalents, end of period	0	0
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	0	0
Income taxes paid	0	0
Deferred financing costs related to notes payable	$ 0	$ 0

XML

NATURE OF BUSINESS

9 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NATURE OF BUSINESS

NOTE 1 – NATURE OF BUSINESS

Alterola Biotech, Inc. (“Alterola” and the “Company”) is a development stage company and was incorporated in Nevada on July 21, 2008. The Company was formed for the purpose of acquiring exploration and development stage mineral properties.

On October 1, 2008, the Company incorporated JRE Exploration Ltd, (“JRE”) a wholly owned subsidiary in Canada for the purpose of holding its Canadian mineral claims.

On May 3, 2010, the Company changed its focus to the development of intellectual property and accordingly sold JRE to the former president. (See Note 3). In keeping with the change of business focus, on July 9, 2010, the Company changed its name to Alterola Biotech Inc.

In April 2017, the Company entered into an assignment with its director to convey all assetsand intellectual property to its former director for the cancellation of 37,000,000 shares of the Company.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Jun. 30, 2017

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has a September 30 fiscal year end.

Basis of Presentation

The accompanying unaudited interim financial statements of Alterola Biotech Inc. were prepared in accordance with GAAP and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the financial statements and notes thereto contained in the Company’s registration statement filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the financial statements for the most recent fiscal year 2016 as reported in Form 10-K, were omitted.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Equivalents

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Intellectual Property

The Company does not amortize intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment. The Company will amortize its acquired intangible assets with definite lives over the estimated economic life of the completed product.

Website Development Costs

Costs incurred in developing and maintaining a website are charged to expense when incurred for the planning, content population, and administration or maintenance of the website. All development costs for the application, infrastructure, and graphics development are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs are amortized using straight-line basis over two years, the estimated economic life of the completed website.

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 fair value are observable in the market. Each FV measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the 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.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Fair Value of Financial Instruments (continued)

Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The FVs are therefore determined using model-based techniques that include option pricing models, discounted cash flow models, and similar techniques.

The carrying value of the Company’s financial assets and liabilities which consist of cash, accounts payable and accrued liabilities, and notes payable are valued using level 1 inputs. The Company believes that the recorded values approximate their FV due to the short maturity of such instruments. Unless otherwise noted, it is management’s opinion that the Company is not exposed to significant interest, exchange or credit risks arising from these financial instruments.

Income Taxes

Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized.

Revenue Recognition

The Company will recognize revenue when products are fully delivered or services were provided and collection is reasonably assured.

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.

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. 

XML

ACCRUED EXPENSES

9 Months Ended

Jun. 30, 2017

Payables and Accruals [Abstract]

ACCRUED EXPENSES

NOTE 3 – ACCRUED EXPENSES

Accrued expenses consisted of the following at June 30, 2017 (unaudited) and September 30, 2016:

	June 30, 2017		September 30, 2016
Audit fees	$	1,000	$	1,000
Accounting		3,350		2,600
Legal fees		8,092		7,751
Total Accrued Expenses	$	12,442	$	11,351

During the year ended September 30, 2016, the Company negotiated a settlement of certain legal expenses, in which $10,173 of accrued invoices was forgiven.

XML

NOTES PAYABLE

9 Months Ended

Jun. 30, 2017

Notes to Financial Statements

NOTES PAYABLE

NOTE 4 – NOTES PAYABLE

Notes payable consisted of the following at June 30, 2017 (unaudited) and September 30, 2016:

	June 30, 2017		September 30, 2016
Note payable, unsecured, bearing interest at 12%, due on June 26, 2011	$	30,000	$	30,000
Convertible note payable, unsecured, bearing interest at 12%, due on July 24, 2011		50,000		50,000
Note payable, unsecured, bearing interest at 10% plus financing charge of $2,500, due on October 10, 2013		27,500		27,500
Note payable, unsecured, bearing interest at 10% plus financing charge of $1,500, due on February 13, 2014		16,500		16,500
Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014		6,000		6,000
Note payable, unsecured, bearing interest at 10%, due on demand		20,000		20,000
Note payable, unsecured, bearing interest at 10%, due on demand		25,000		25,000
Total Notes payable	$	175,000	$	175,000

The Convertible note is convertible at the option of the holder. The number of shares of common stock into which the convertible note will be converted is determined by the Fair Market Price (“FMV”) of the common stock at the date of conversion. In the event there is no determinable market price the FMV shall be:

a) The share price at the last private offering of the common stock, or, b) the 30 day moving average of the Common Stock in the event a public listing of the common stock has taken place.

Notes payable of $130,000 are currently in default as of the date of issuance of these financial statements.

XML

CAPITAL STOCK

9 Months Ended

Jun. 30, 2017

Equity [Abstract]

CAPITAL STOCK

NOTE 5 – CAPITAL STOCK

The Company has 140,000,000 shares of $0.001 par value common stock authorized and 10,000,000 shares of $0.001 par value preferred stock authorized.

On April 10, 2017, a former director returned for voluntary cancellation 37,000,000 shares of common stock with a deemed value of $37,000

The Company has 114,980,000 shares of common stock issued and outstanding as of June 30, 2017 and September 30, 2016 respectively. There are no shares of preferred stock issued and outstanding as of June 30, 2017 and September 30, 2016.

XML

RELATED PARTY TRANSACTIONS

9 Months Ended

Jun. 30, 2017

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 6 – RELATED PARTY TRANSACTIONS

Alterola neither owns nor leases any real or personal property. An officer has provided office space without charge. There is no obligation for the officer to continue this arrangement. Such costs are immaterial to the financial statements and accordingly are not reflected herein. The officers and directors are involved in other business activities and most likely will become involved in other business activities in the future.

XML

LIQUIDITY & GOING CONCERN

9 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

LIQUIDITY & GOING CONCERN

NOTE 7 – LIQUIDITY & GOING CONCERN

Alterola has negative working capital, has incurred losses since inception, and has not yet received revenues from sales of products or services. These factors create substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern.

The ability of Alterola to continue as a going concern depends 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.

XML

SUBSEQUENT EVENTS

9 Months Ended

Jun. 30, 2017

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 8 – SUBSEQUENT EVENTS

In accordance with ASC Topic 855-10, the Company has analyzed its operations subsequent to June 30, 2017 to the date these financial statements were issued, and determined it does not have any material subsequent events to disclose in these financial statements.

XML

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Jun. 30, 2017

Accounting Policies [Abstract]

Accounting Basis

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting).  The Company has a September 30 fiscal year end.

Basis of Presentation

Basis of Presentation

The accompanying unaudited interim financial statements of Alterola Biotech Inc. were prepared in accordance with GAAP and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the financial statements and notes thereto contained in the Company’s registration statement filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the financial statements to be not misleading have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the financial statements for the most recent fiscal year 2016 as reported in Form 10-K, were omitted.

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 Cash 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.

Intellectual Property

Intellectual Property

The Company does not amortize intangible assets with indefinite useful lives, rather such assets are required to be tested for impairment at least annually or sooner whenever events or changes in circumstances indicate that the assets may be impaired. The Company amortizes its intangible assets with definite lives over their estimated useful lives and reviews these assets for impairment. The Company will amortize its acquired intangible assets with definite lives over the estimated economic life of the completed product.

Website Development Costs

Website Development Costs

Costs incurred in developing and maintaining a website are charged to expense when incurred for the planning, content population, and administration or maintenance of the website. All development costs for the application, infrastructure, and graphics development are capitalized and subsequently reported at the lower of unamortized cost or net realizable value. Capitalized costs are amortized using straight-line basis over two years, the estimated economic life of the completed website.

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 fair value are observable in the market. Each FV measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the 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.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Fair Value of Financial Instruments (continued)

Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The FVs 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.

Revenue Recognition

Revenue Recognition

The Company will recognize revenue when products are fully delivered or services were provided and collection is reasonably assured.

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.

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. 

XML

ACCRUED EXPENSES (Tables)

9 Months Ended

Jun. 30, 2017

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

	June 30, 2017		September 30, 2016
Audit fees	$	1,000	$	1,000
Accounting		3,350		2,600
Legal fees		8,092		7,751
Total Accrued Expenses	$	12,442	$	11,351

XML

NOTES PAYABLE (Tables)

9 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Schedule of Notes Payable Table

	June 30, 2017		September 30, 2016
Note payable, unsecured, bearing interest at 12%, due on June 26, 2011	$	30,000	$	30,000
Convertible note payable, unsecured, bearing interest at 12%, due on July 24, 2011		50,000		50,000
Note payable, unsecured, bearing interest at 10% plus financing charge of $2,500, due on October 10, 2013		27,500		27,500
Note payable, unsecured, bearing interest at 10% plus financing charge of $1,500, due on February 13, 2014		16,500		16,500
Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014		6,000		6,000
Note payable, unsecured, bearing interest at 10%, due on demand		20,000		20,000
Note payable, unsecured, bearing interest at 10%, due on demand		25,000		25,000
Total Notes payable	$	175,000	$	175,000

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NATURE OF BUSINESS (Details Narrative) - shares	9 Months Ended
	Jun. 30, 2017	Apr. 10, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of Incorporation	Jul. 21, 2008
Changed Business Focus	May 03, 2010
Name Change	Jul. 09, 2010
Incorporated JRE Exploration Ltd	Oct. 01, 2008
Shares cancelled for foermer director		37,000,000

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	9 Months Ended
	Jun. 30, 2017
Fiscal year end	--09-30

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ACCRUED EXPENSES - Schedule of Accrued Expenses (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2017
Payables and Accruals [Abstract]
Audit fees	$ 1,000	$ 1,000
Accounting	2,600	3,350
Legal fees	7,751	8,092
Total Accrued expenses	11,351	$ 12,442
Settlement of legal expenses	$ 10,173

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NOTES PAYABLE - Schedule of Notes Payable Table (Details) - USD ($)	Jun. 30, 2017	Sep. 30, 2016
Notes to Financial Statements
Note payable, unsecured, bearing interest at 12% per annum, due on June 26, 2011	$ 30,000	$ 30,000
Convertible note payable, unsecured, bearing interest at 12% per annum, due on July 24, 2011	50,000	50,000
Note payable, unsecured, bearing interest at 10%, per annum plus financing charge of $2,500, due on October 10, 2013	27,500	27,500
Note payable, unsecured, bearing interest at 10%, per annum plus financing charges of $1,500, due on February 13, 2014	16,500	16,500
Note payable, unsecured, non interest bearing with finance charge of $1,500 due on March 31, 2014	6,000	6,000
Note payable, unsecured, bearing interest at 10% per annum, due on demand	20,000	20,000
Note payable, unsecured, bearing interest at 10% per annum, due on demand	25,000	25,000
Total Notes Payable	$ 175,000	$ 175,000

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NOTES PAYABLE - Schedule of Notes Payable Table (Details) (Parenthetical) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Note Payable 1
Note payable, Interest Rate	12.00%	12.00%
Note Payable 2
Convertible Note Payable, Interest Rate	12.00%	12.00%
Note Payable 3
Note payable, Interest Rate	10.00%	10.00%
Finance charge	$ 2,500	$ 2,500
Note Payable 4 Member
Note payable, Interest Rate	10.00%	10.00%
Finance charge	$ 1,500	$ 1,500
Note Payable 5
Finance charge	$ 1,500	$ 1,500
Note Payable 6
Note payable, Interest Rate	10.00%	10.00%
Note Payable 7
Note payable, Interest Rate	10.00%

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NOTES PAYABLE (Details Narrative)	Jun. 30, 2017 USD ($)
Notes to Financial Statements
Notes payable	$ 130,000
Financing Costs	$ 0

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CAPITAL STOCK (Details Narrative) - shares	Jun. 30, 2017	Apr. 10, 2017	Sep. 30, 2016
Common stock, Issued	114,980,000		114,980,000
Preferred Stock, Issued	0		0
Shares cancelled for foermer director		37,000,000

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Label	Element	Value
Cash Equivalents, at Carrying Value	us-gaap_CashEquivalentsAtCarryingValue	$ 0