$ABTI
ALTEROLA BIOTECH INC.

2023 Q1 Form 10-Q Financial Statement

#000166357723000080 Filed on February 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin -$450.0K $540.6K $2.739M
YoY Change -113.42% -80.26% 4464.47%
% of Gross Profit
Research & Development $320.0K $62.00K
YoY Change -84.83%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $70.00K $540.6K $2.801M
YoY Change -97.85% -80.7% 4567.8%
Operating Profit $540.6K -$2.801M
YoY Change -119.3%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change
Pretax Income -$70.00K -$540.6K -$2.801M
YoY Change -97.85% -80.7% 4567.8%
Income Tax -$50.00K -$5.830K $0.00
% Of Pretax Income
Net Earnings -$20.00K -$534.8K -$2.801M
YoY Change -99.39% -80.91% 4567.8%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 -$3.632K
COMMON SHARES
Basic Shares Outstanding 807.0M shares 807.0M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00K $12.82K $40.11K
YoY Change -84.33% -68.04%
Cash & Equivalents $8.890K $12.82K $40.11K
Short-Term Investments
Other Short-Term Assets $190.0K $142.9K $14.79K
YoY Change 1431.02% 865.86% -26.05%
Inventory $986.00 $967.00
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $237.2K $192.0K $90.71K
YoY Change 85.75% 111.68% 353.55%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $12.14M $12.02M $12.00M
YoY Change 1.16% 0.15%
TOTAL ASSETS
Total Short-Term Assets $237.2K $192.0K $90.71K
Total Long-Term Assets $12.14M $12.02M $12.00M
Total Assets $12.38M $12.21M $12.09M
YoY Change 2.05% 0.99% 60353.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $611.8K $668.7K $574.7K
YoY Change 12.77% 16.35%
Accrued Expenses $254.9K $12.43K $541.8K
YoY Change -35.72% -97.71% 46.42%
Deferred Revenue
YoY Change
Short-Term Debt $1.260M $1.142M $0.00
YoY Change 667.26%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.127M $1.823M $1.218M
YoY Change 104.63% 49.67% 229.14%
LONG-TERM LIABILITIES
Long-Term Debt $150.0K $151.3K $169.0K
YoY Change -10.52%
Other Long-Term Liabilities -$30.00
YoY Change
Total Long-Term Liabilities $150.0K $151.2K $169.0K
YoY Change -10.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.127M $1.823M $1.218M
Total Long-Term Liabilities $150.0K $151.2K $169.0K
Total Liabilities $2.281M $1.974M $1.387M
YoY Change 89.85% 42.33% 274.82%
SHAREHOLDERS EQUITY
Retained Earnings -$9.576M -$9.556M
YoY Change 20.15%
Common Stock $807.0K $807.0K
YoY Change 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.10M $10.24M $10.70M
YoY Change
Total Liabilities & Shareholders Equity $12.38M $12.21M $12.09M
YoY Change 2.05% 0.99% 60353.55%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$20.00K -$534.8K -$2.801M
YoY Change -99.39% -80.91% 4567.8%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $150.0K -$829.6K -$2.487M
YoY Change -94.32% -66.65%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$160.0K $18.15K -$12.00M
YoY Change -100.15%
Cash From Investing Activities -$160.0K $18.15K -$11.97M
YoY Change -101.33% -100.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 120.0K 796.5K 14.30M
YoY Change -100.82% -94.43%
NET CHANGE
Cash From Operating Activities 150.0K -829.6K -2.487M
Cash From Investing Activities -160.0K 18.15K -11.97M
Cash From Financing Activities 120.0K 796.5K 14.30M
Net Change In Cash 110.0K -14.97K -148.2K
YoY Change 1937.04% -89.9%
FREE CASH FLOW
Cash From Operating Activities $150.0K -$829.6K -$2.487M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations
10319 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-51000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
39590 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63816 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
519 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12816 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40109 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_808_eus-gaap--NatureOfOperations_zZ9idIwA1SFl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 1 – NATURE OF BUSINESS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 <span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20100402__20100503__us-gaap--StatementEquityComponentsAxis__custom--IssuanceOneMember_pdd">55,000,000</span> shares of the Company’s common stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 19, 2021, the Company entered into an Stock Purchase Agreement (the “Agreement”) with ABTI Pharma Limited, a company registered in England and Wales (“ABTI Pharma”), pursuant to which the Company agreed to acquire all of the outstanding shares of capital stock of ABTI Pharma from its shareholders in exchange for <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20210101__20210129__us-gaap--StatementEquityComponentsAxis__custom--IssuanceTwoMember_pdd">600,000,000</span> shares of the Company pro rata to the ABTI Pharma shareholders. The shares were issued on January 29, 2021 in anticipation of the closing and the parties to the transaction agreed in a March 24, 2021 amendment to close upon the ABTI Pharma Limited Shares being transferred to the Company, which was to occur upon the filing by the Company of its outstanding December 31, 2020 quarterly report on Form 10-Q, which was filed on May 28, 2021 with the Securities and Exchange Commission. The transaction closed on May 28, 2021.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Since then, the company has re-focused its activities 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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transaction is being accounted for as a reverse acquisition and recapitalization. ABTI Pharma is the acquirer for accounting purposes and the Company is the issuer. The historical financial statements presented are the financial statements of Alterola Biotech Inc. 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 less than <span id="xdx_90B_ecustom--NetLiabilitiesOfAcquirerReverseAcquisition_iI_c20210119_zkP8hciSRbd1">$50,000</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2021Q1 ABTI Net Liabilities Of Acquirer Reverse Acquisition
NetLiabilitiesOfAcquirerReverseAcquisition
50000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zJIf7ZzpKu6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="text-decoration: underline">Use of Estimates</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">   </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ALTEROLA BIOTECH, INC.</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>DECEMBER 31, 2022</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/>
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2000000000 shares
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2000000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
807047948 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
807047948 shares
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
802633333 shares
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
802633333 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q3 us-gaap Loans Held For Sale Term
LoansHeldForSaleTerm
P90D
CY2022Q3 us-gaap Loans Payable Current
LoansPayableCurrent
75000 usd
CY2022Q3 us-gaap Common Stock Shares Subscribed But Unissued
CommonStockSharesSubscribedButUnissued
2250000 shares
us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
75000 usd
CY2022Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1141595 usd
CY2022Q4 us-gaap Capital
Capital
1630685 usd
us-gaap Profit Loss
ProfitLoss
-9556481 usd
CY2022Q3 ABTI Proceeds From Loi
ProceedsFromLOI
4000000 usd

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