Well I think that my riding season may be over before it has even started.
I just got back from the garage where I set the timing, adjusted the points and made sure that I had sufficient spark.
After a few starting attempts and still nothing, I tried to use some carb cleaner hoping to get it to at least pop. Still nothing
So I got off and pulled of the magneto and got it to look like this.

After I got the magneto off I realized that there was smoke coming out around the crankshaft. So my thoughts are bad crank seal.
Is this the right conclusion, and can this be causing my problem? If this is the case I am pretty f***ed because that would mean that both of my engines need the cases split, and right now I do not have the money for that.
Let me know what you think guys. Did I come to the right conclusion?
Jordan