Hmmm...if you're lucky, the cam chain jumped a few teeth and is now out of time which is causing the valves to open at the wrong time and also cause a loss of compression. If you're not lucky, it jumped time at a high RPM and bent a valve, most likely the exhaust valve, letting the motor turn over freely but of course have no compression.
Also, when you do a rebuild, ALWAYS replace the cam chain and reset the tensioner.
Justin ~hondaATCman~
'82 Honda ATC 110
'81 Honda ATC 250r (Summer Project)
'87 Suzuki LT 250r Quadracer - Very Modded...FAST!!
'03 Yamaha Big Bear 400 4x4
'85 Ford Bronco II 4x4 2.8 V6