Sounds like your bike has seized, did you check that it's getting two stroke? Another thing to check is the two stroke pump belt.
If I can remember rightly, there's a casing on the right hand side of the engine, remove that & it reveals the two stroke pump. You will see a small rubber belt that drives it, check if this has snapped. If it has then you're looking at the price of an engine rebuild.
Steo
November 2009