The next steps show how to tramsform an rusted old bike into 71 inches of pure metal madness ... the oldschool way. Have fun :)
Step 1: Get rid of the useless parts
Cut the attaching points for the front breaks you don't need anymore. Buy new parts, such as a new crank set to replace the old broken one. clean the roller bairings in case you have to wait for the new parts ;)
Make a big pile of the old stuff just in case you can reuse some of it..
Step 2: Grinder action
Afterwards, paint it black while listening to paint it black :P (I used very thick anti-rust paint which can be painted with a brush. Whats cool about it, is the oldschool look, plus you can easily repair dents and screatches)
Attach all the new parts including the saddle which is described in the next step