Lose thrust at 1/2 throttle

[Rege51]

I recently purchased a 1997 Bombardier Seadoo Challenger Model 5603. We put it in the water for the first time yesterday. It goes forward and in reverse however when you reach approximately half throttle, it sounds like it goes out of gear and loses all thrust. If you pull back on the throttle it catches again. Any idea what this could be?

 

[POPPS]

I believe that is the "safety cdi" cutoff,,,so you don't accidentally smash into another boat....maybe?