Ok, there have been a few suggestions already on what your problem could be and ways to diagnose it.
Just in case you missed them I'll compile them into list format:
1) Build a leakdown tester
2) remove the clutch cover and hardware on the end of the crankshaft
3) pressurize the engine to a few PSI
4) spray the crankn seal and spacer down with soapy water to see if it's leaking at the seal.
5) if the seal is sealed but the engine continues to lose pressure, your cases are leaking between the crankcase and the transmission
6) remove the top end to diagnose a blow-out
7) split cases and reapply case sealant
8) reassemble everything and leaktest
9) start it and check your jetting