The compression does seem to be low but I've had a bike with similar compression after a re-ring and it started OK and the compression eventually increased to a normal level. ( on one engine I used Aspen fuel after a rebuild and it started more easily than normal )
The primary compression ( crankcase ) is not easy to check but it may be possible to feel air being drawn into the carb or if the carb is off into the inlet.
Is the bike using points or other ignition ? and is the carb clean especially the primary circuit ie pilot jet and the passages around it.
Has the frame been grit blasted and bits of grit got into the carb or engine ?
Brian H.