What year 125? The ignition / charging systems changed once or twice over the years. In the early years, they were a 'combined' system, and they won't generally run without a battery without some fairly involved mods. Later, the ignition was 'separated' from the charging/lights, and they'd run without a battery. This sounds like what you may have.
If so, then it sounds like you're reading the charging voltage, which is independant completely from the ignition system. In that case, you've got no worries.
So, what year?
By the way, welcome aboard!
Kirk