Correct, using historical company info to reflect current state isn't a bright idea typically, but nothing wrong using it to judge business sense and moral compass of the executive team.
If the Nigerian royal family asked you for money in order to pay taxes on a long lost inheritance they wanted to send to you and you sent it then never saw it again, would you give money to them when they came around telling you about a great oil field claim they have for you the next year?
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