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It looks like the regulator adjuster is still there but maybe screwed out enough to shut off the pneumatics?
There's a rod on the top of the pump handle. If that went back through the body and was fastened to the bolt, it would operate like an upside-down Phantom. There's no reason this wouldn't operate the mag feed system too.
Disassembly would be hard, but I think that's why the pump rod is sandwiched between two bits of wood on top of the handle. Remove the top little piece of wood, undo the receiver screws like normal, and slide it apart.
That's my theory.
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