The 12.9 is definitely low

We need some more checks now

A very quick test for you all if you ever suspect a stator failure:
When they go, they typically burn a coil(s) like in Keith's pic



when that happens the winding shorts to the core.
Normally the windings should be completely isolated from the core. The core is obviously phyysically connected mechanically to the engine so you can check to ensure that your windings (measured through the connector) are isolated from the engine.
So if you unplug the stator output connector, set your meter to read resistance & you should NOT read a short (it should be infinite resistance, open circuit) with test probes between ANY of the three termninal pins to engine ground. (you can use any of the three pins because there is less than 1 ohm between each of the pins anyway - so no consequence whichever one you pick - either all will read open to ground or all will read short)
It is not 100% guarantee of being good if you do read 'open'; however is absolute certainty of failure if you read short.
If it does indeed read 'open' - as it should - then you go on to a further test to check the actual output volts:
set meter to AC V (~ symbol) and start bike (You do not need stator connected to run);
then read between the three combinations of two, of the three pins
i.e. 1-2, 2-3, 3-1. (does not matter which you designate as 1,2 & 3)
The voltage should be 20-25V or so at idle - absolute number will vary by model and engine rpm so the important factor here is that all three read the same.
If you like you can then raise engine speed and check at higher rpm - the voltage will be higher but again all three readings should be virtually the same (but ensure the throttle speed is locked at same for each reading)
If you find one that is significantly different from the other two (at the same rpm), the stator is suspect.

The majority of the time, when failed, you will get the 'short' as per the first test.