Originally Posted by HeatXfer
You've got spark & fuel: too much fuel? If the ECU lost control of the EFI leaving both injector valves open you'd experience the same symptoms you're having now. Can you smell gas at the exhaust tips?
Or maybe the fuel pump isn't running when you crank the engine, only when you turn the key to on. Again, an ECU failure.
Dosen't the pump need a bit of priming?
If you don't smell gas, you can always use a seringe and a hose to squirt some gas in the cylinder. My xtz 750 Super Tenere had this nasty habbit.