Isn't this machine just a Jasic-badged version of the ancient WSME-200 analogue AC/DC TIG? They can be bought for £380 in UK - about 700 AUD.you can buy a new one for $1,800.00 AUD
Tested it and it is on about 10.4V on MMA and Tig with the trigger engagedDisconnect or cut the yellow wire and measure between black/yellow to check if there is a problem at the bottom board.
As i read elswhere mosfet circuit needs about 9-10V to perform.
Also please test it in MMA mode!