Man - I've been jealously watching this thread hoping to one day post. Then....
Today I dropped by my local second hand junk shop. It's 3 minutes to closing, so when the clerk asks if she can help me, I ask to see what they have for bikes. There's a crappy dept. store mt. bike with a sold sticker, and a couple of 12" kids bikes. Then she says, there's a free to take away one out back too.
I walk around, and see it... "I can make this work I say, glad to haul it away"..."Thanks - have a nice day".
Needs new rubber, truing, and a front derailer adjustment.
May be more bits upon closer inspection, but otherwise seems solid.
Oh and it's covered in sticky substance, maybe tree pitch. Scrubs off with a bit of effort. I bet this cleans up real nice.
Wahoo ! I get to post in this thread !!!