The other way to look at this is the only thing salvageable is the frame. It appears to be an Alpha aluminum frame similar to Trek's current low end bikes. I don't think I would go to the trouble to try and salvage it. You can easily find a decent used mountain bike on Craigslist for $200. I imagine it would cost more than that to fix yours up, unless you can find an old bike with a damaged frame that you can swap out the components.