The reeds could be open, or your flywheel has jump the rocket key. Your magnets should be just past the coil at TDC. Have you pulled the plug and checked for a spark?
funny you say that lol.... my head bolts came loose earlier... pealed the old yamabond gasket, made a new one. Now she needs to settle for a while..Check your head bolts, after you run a new engine and hour or two, you need to check them, not on a stock but 2 pcs head/cyld. The parts exspand when they get hot then the cool. That's happened to me so many times.