HBOOT - someone help in simple terms - dead phone.

Hi.
Can someone please help me in the simplest terms as i am not technically minded.
Basicly i dropped my phone, it hit a hard surface and then landed in water. I sent it off to insurers who have not fixed it and say it is not water damaged.
The phone turns on a displays a screen

CLICK PVT SHIP S-ON
HBPOOT-0.52.001 (CLIC10000)
MICROP-0203
RADIO-3.35.07.31
Sep 22 2009, 14:40:39

HBOOT

<BACK> Fastboot mode
<SEND> Simlock
<HOME> Recovery

....If i press back button nothing happens
Pressing home turns on the TATTOO logo screen but nothing else.
HBOOT is highlighted so if i press the phone button it says SIMLOCK in yellow then something about FAT32 init ok it runs through a number of queries about images and then returns to the screen with the options again.

is there anything i can do to fix the phone or is it dead?
Thanks in advance.

ANY IDEAS??