no brakes

Honda 99 250 recon.at a loss.rebuilt master cylinder,pistons,new shoes .tried to bleed them and still no firm lever at all.noticed when I pump lever bubbles come out of master cylinder.could this be a bad rebuilt kit or did I not seat something right? if I open up bleeder screws will the fluid come out without pumping lever?if it does come out would this indicate a leaking m-c?