Okay I got this console from a friend of a guy who had this and two others, I checked under the lid of all of them and they all had missing that spinning thingy which i don't know what is called, Why was it removed? and where can I get the black spinning thingy? Here is a photo of the console where you can see the thingy is missing. Also, none of the screws under are in this one and one of the other 2, while one has all the screws but is still missing it's black spinning thingy. I'm a noob in the hardware part of the ps1 so I don't know much about it.
I had the same problem and bought a spindle (missing part on your ps1) 10 years ago, I guess you can still find those on the internet. Last week I bought a SCPH-7502 for 5€, and the spindle is also falling apart so I might need to buy one.
Billabong is an Australian company of clothing and surf wear. Was one of your friends from down under?
Don't think they're an Australian company any more, just like most Australian companies and products they go overseas.