If it's a timing issue, the best person I know of to help you with it is Mizkaki...she's fixed literally thousands of machines!
To be honest, I don't usually fix machines....I do the simple stuff, the spousal unit does slightly more complicated stuff, and if it takes more than that, the machine doesn't stay.
If it's not the threading, or the bobbin threading...it could be that the needle is either messed up or wrong for the machine... (just because it came in the machine doesn't make it the right one)....but to me, it looks like your tension is out all the way to the end...try tightening the tension... look at mine, it's about halfway in....