Non Reliance of Financial Report Form 8 K

Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

On September 24, 2024, the board of directors of Alterola Biotech, Inc. (the "Company") determined, upon the recommendation of the Company's management, and in consultation with the Company's independent registered public accounting firm, that the Company should restate its previously issued financial statements for quarter ended June 30, 2024 to correct the accounting in its unaudited balance sheets for said quarter.

The restatement relates to an error in the consolidation of the Company's subsidiaries. The Company does not believe that there is a material impact to the financial statements and the error was an oversight that occurred as part of its internal reorganization with a newly formed subsidiary.

The change in accounting treatment is non-cash in nature, and does not affect revenue, gross margin, net income or income per share or the presentation of its non-GAAP metrics, including funds from operations. The change did not result from a change in published accounting guidance during the relevant time period or override of controls or misconduct, nor has the Audit Committee or Board of the Company been informed of any issues related to an override of controls or misconduct.

The error in the unaudited balance sheet will be corrected in restated financial statements by filing an amended Quarterly Report on Form 10-Q (the "Form 10-Q/A") in approximately one week from the filing of this Current Report on Form 8-K. Accordingly, the financial statements contained in the Company's Form 10-Q report for the quarter ended June 30, 2024, filed with the Securities and Exchange Commission should no longer be relied upon in its present format until such time as the restated financial statements are filed.

The Company's management discussed the matters disclosed in this Item 4.02 with the Company's independent registered public accounting firm, Green Growth CPAs.