It could one of three things.
1. The first is that a previous owner has disabled the immobilzer (my bike is like this too and always has this error). Now go to option 3.
or
2. There is a ring under the cover that goes around the Ignition key/lock. An antenna for the Immobilzer. Sometimes they get displaced and cant read the code in the key. Take the Ignition Lock / Key cover off and make sure everything is as it should be. Worst case, you need to get some cables from LONLEC that will let you have access to the bikes ECU. You can download the map. Edit it to turn the immobilizer off and thats that.
or
3. There is an issue that wont register as an error on the ECU. For example the fuel filter is clogged, Pump is dead or a split fuel hose in the tank. Everything thats already been mentioned above.
Have you checked to see if still have a spark? Grab an old spark plug (that you know works), pull the Plug wire off the VERTICAL cylinder, left hand side, and when the bike is cranking hold the plug body against the engine. You should see a nice blue spark. If so, you need check you have fuel getting through. Which means pulling the tank off. A total PITA! but doable in an Hour with regular pauses for Beer. If have never pulled the tank off i can send you a guide of how to do it. Yes. its that much of a PITA.