I can't seem to resolve the issue on my bike for weeks

I have been fiddling around with my 2 stroke bike for weeks now and it is driving me crazy. I hope that someone here would have a clue...

I have a Tomos CTX which has a 2 stroke engine based on Puch. I have had the cylinder sleeve replaced, bored to 50mm (originally 46mm), ported and a squish was made to the head. I have a dellorto phbg 21 carb paired with an airbox.
I also bought a new chinese copy of Kokusan electronic ignition (originally was points ignition), because I want reliability and also a battery driving the lights.

The smallest distance between the piston and the head is 1mm (measuring at the edge of the piston).

I have set the ignition timing to 1.2mm BTDC. The pickup is at around 10 o'clock

Carb settings:

• pilot jet 40
• main jet 75 (i know it is small, that's what she said)

The spark plug is moist/wet after running and trying to rev it up (a new NGK B7ES).

I am thinking that there must be something going on with the ignition but I can't seem to figure it out...

The bike is running fine at idle, but when I try to rev it, it just cannot, like it is hitting a rev limiter or as if it is sparking overy other stroke...

I have also tried changing the CDI but nothing changed.
The grounding points were all cleaned and then protected with copper paste.

The compression is very good, if I recall correctly it is around 140 PSI.

If anyone has any clue what should I do next, I would really appreciate your help.
Thanks.