To say that the past has nothing to do with the future is irresponsible.
Hall of Fame Beverages does not do business in a vacuum. Sure, companies can make changes and turn things around. But HFBG has likely been around long enough by now to have garnered a well-deserved reputation in the industry for not being 'on the level.' It is a stigma that will have to be overcome if this venture is indeed going to be successful.
Would you, as a key decision maker, do business (in any industry) with a company that has a history of false information and non-payment of liabilities, regardless of the promises of 'new management?'