Hey mate, good deal. But don't think the timing chain is broken. I had the same problem with my X, the chain was just off the little sprocket inside the motor. Take the motor out, take everything out, and make it all good. Put a new set of gaskets on and slip her back in. Hmm...no compression = your valves might be set as one is open the entire time. You will NOT have spark without your Pulse Alternator going(stuff inside of CDI cover attached to CAM). Its just like a car, no alternator, no go.
Rest in peace Rex Carlson