When you're prepared to pay money on a bicycle, it's crucial to remember to recognize that it's a valuable beginning point or not. A lot of bikes are out there that don't really valuable the money that you want to spend on, and this is one of them.
Do not attempt to be meaningful, just try to save your frustration when you realize that your money still sucks. The bike was manufactured by a store: Sears. Nowadays, it's like going for a bike to Wal-Mart. It has a 1 part crank and steel steel wheels. It is lugged steel. This isn't good, man. This isn't good. I urge that you look for a better point of departure for a fixer-upper. I would be happy to help you find your craigslist. Until then, just bike around it and have a good time.