Did it run previously? If so, what have you changed? Is the clutch making good contact? When you try to start it does the engine turn over, but just not start, (can you hear the piston cycling)? If the clutch is right iit could be the magneto is bad, or the cdi is bad, or the plug. Sometimes they can go bad and produce spark still, but weak or intermittent. Engine wont run if thats the case. The jet could be too lean as previously suggested, but id think it would still start with idle screw all the way in, just wouldnt run as it should.
Someone more knowledgeable than me would have to asnwer that one. Im sure someone here knows, i personally just replace the suspect parts. They are pretty cheap to replace anyway. If the cdi you have is stock, thats a good suspect. They are common for kicking the bucket. I always carry a backup cdi in my parts kit, bc i dont trust them. On a side note, did your magneto have a white wire? The cheap magnetos have that, and are prone to go out.
Yes, it does have a white wire, electrical-taped off currently, well, the parts on it now are not stock, but the ones I have are and the cdi also has a white wire
This upgraded magneto has more wire windings which create a stronger spark, and in turn, more power for your motor!
www.californiamotorbikes.com
Heres a better quality magneto, chances are the magneto is your issue. And even if not, this one is better than the one you have, thicker wire so it will generate a stronger spark.