Inception HPR Leakdown

My ID HPR won?t hold pressure. When connected to a pressure gauge and ASA turned on, the pressure gauge spikes to 300psi and subsequently drops to near 100. With ASA on OR off, turning the pressure up via the hexnut on the HPR has no effect on reg pressure output. The reg was doing this prior and post rebuild. I don?t see or hear any signs of leaking.

To rule out my pressure tester and ASA, I used two different dye hyper2 regs and both maintained 220psi for over 30 minutes.

Thoughts?