no start - electrical problem

[mrlmd1]

Have you fully charged up the battery since this started? Checked the battery connections for corrosion?
Did this happen suddenly one day, ie, it was OK the day before it wouldn't start, or was the bike sitting for a long time not being used?
Does the battery voltage drop from 12.5 to 11.5v as soon as you turn the key to the ON position, or when you hit the start button?
It sounds to me like you have a dead battery and you should attend to that before you start ripping the bike apart and looking for something more exotic. The voltage drop is probably just from the lights being on when you turn on the key. If you measure the voltage when you hit the start button, it probably drops to 8-10 and will not turn over the starter. Charge up the battery and see what happens.