Multifunction drill bit with a replaceable tip

A multifunction drill bit comprising:

• an outer shank including an outer lock head, an outer shank body formed with the outer lock head, and an axial hole through both the outer shank body and the outer lock head wherein a plurality of spiral grooves are provided on the outer shank body for discharging chips;
• a threaded section proximate the outer lock head, a deformable section, and a guide section are sequentially provided on the outer shank body;
• each of the threaded section and the deformable section include first external threads;
• the deformable section has a plurality of linear grooves on an outer surface;
• a deformable concave surface is provided on an inner surface of the deformable section;
• and a plurality of first internal threads are provided on an inner surface of the guide section;
• an inner shank provided in the axial hole and including an inner lock head and an inner shank body formed with the inner lock head wherein a socket is provided on a top of the inner lock head;
• and
• a tip releasably secured to an end of the guide section, the tip being configured to drill a metal workpiece and including a joining section and a drilling section formed with the joining section wherein a plurality of second external threads are provided on an outer surface of the joining section corresponding to the first internal threads;
• the drilling section sequentially includes a cutting surface, a plurality of spirals, and a plurality of threads proximate the joining section, the cutting surface includes a first cutting face, a second cutting face, and a third cutting face;
• and a plurality of spiral grooves are provided on the threads for discharging chips.