Hiya mstencha,
You did say before when you cranked the motor there wasn't much compression also you haven't stated if it's a 2 or 4 stroke motor. If it is a 2 stroke have you been putting a bit of oil with the fuel everytime you refill?
If there isn't any compression then you need to overhaul the motor, probably not a bad idea if you have it apart. Buy a new piston ring and hone the bore so there isn't any scratches etc. If you need more help just ask mate.
Cheers Bryan