So I thought I'd see if I could salvage this thing. I had some white paint left over from a previous project, so I used that to paint the wooden frame. I didn't feel the need to tape off the cork board to protect it from the paint because I planned to place fabric over the cork board later.
After the paint dried, it was time to put the fabric on the cork board, I found my fabric at Hobby Lobby. For this next part, if your frame is in good enough condition to be taken off and reassembled, I would do that. Then you can pull your fabric tight over the cork board and staple it on the back of the board, and reattach the frame. Much simplerer and faster! However my frame looked like it would fall apart if I were to remove it and try to add it back later, so for me, this next step was a little tricky. I laid the fabric over the board and cut my fabric to size. I cut the fabric about an 1/8 of an inch larger than my cork-board was, because I planned to tuck the fabric in under the frame. I used a flat head screw driver to do this, but I later realized that a putty knife would have worked so much better and made this process go a lot faster!! Haha, so I recommend using a putty knife if you have on on hand, if not, the flat head screw driver works just fine, just a little slow and tedious.
After your fabric is all tucked in, under the frame, you're done!
Hang that beauty up and admire you're awesome work!
Here mine is, completed and hanging in my craft room, above the sewing machine!