Does this regulator look bad to you guys?

Symptoms are as followed:
- Check engine light (error code 16) come on when stopped, then goes off when accelerating.
- Battery will not charge above 12.09V when in neutral revving past 3k RPM, at idle the voltage will dip down to about 12.03.

Steps taken to diagnose problems:
- Milliampere Draw Test. Passed
- Stator Check. Passed all Tests.
- A/C Output Check. Passed
- Voltage Regulator Check. Putting a digital multi meter across the positive and negative terminals of the battery while the bike is on to check the DCV to see is the battery is getting charged, the voltage from idle didn't rise more than a few .01 volts. It didn't seem to charge anything.

Thanks for the help in advance!