Must have been flooded. You should only seem some quirts of fuel in the carb.

Has the motor been started before?

have you inspected the glow plug and does your glow plug ignitor have a good charge?

If those things are all good then I'd do what mtrchamp said. Look at the manual and set all of your needles back to factory default. This setting will have the motor running rich (because they come from factory for break in) but it should run.