Cannondaleriders

The problem I'm having is that as soon as I start up the machine it dumps fuel into the crankcase and there is a decent amound of metal shavings in my oil. The fuel line on the right (as your sitting on the machine) is dumping gas out of it, I believe that it is the return fuel line. There also is a loud knocking sound comming out of the left side of the case (as your sitting on the machine), and its not the normal knocking sound that they have, it's very loud and you can definately feel it when you put your hand on the black cover on the left side of the case. When it starts up, it will only run (at a rough idle) for about 10 to 15 sec before it comes to an abrupt hault and just shuts off. The spark plug fouls out pretty quick aswell. Please post anything you think will help.

Pull the motor and do a rebuild.

Definately sounds like you have some multiple problems going on here. Big Elk Hunter is correct in saying you are, without a doubt gonna have to pull the motor.
Now I can probably help you start to diagnose maybe what some of the problems are.
The metal shavings are coming from the crank pin being thrashed by the connecting rod because the lower rod bearing is gone.
That fuel line that is leaking gas is either a cracked (dry rotted) fuel line, or the male quick connect is missing an o-ring, or the female part of the fuel fitting that threads into the tank is loose. That loud knocking noise coming from the left side could be several things. There are a lot of moving parts under that left side cover but if I had to guess I would say its either a main crank bearing going bad or possible the bushing in the back of the clutch basket is very loose.
The spark plug fouling could be as simple as your running too cold of plug in it. Don't use a 9ek plug in these use an 8ek. Although it could also be fouling plugs due to the fuel settings being off. Which would require a computer with D&M software to adjust your flow rate.

Is this the quad you were trying to sell a while back your post said you spent $4000 on the engine?

No, this is a different quad. And i definitely think your right about the crank. I really didn't want to but I guess I have to tear it apart. The quad ran perfectly before this little problem so I know it's not a mapping problem or anything, I'm also running the cr8ek plug in it (i might have been running the 9ek or 10ek before that's probably why they were fouling out). Thanks for all your input

Where are you located?

Sounds like you crank is done to me. Update

There also is a very strong smell of gas, like its dumping an excessive amount of gas into the engine. And the smell isn't coming from the gas coming out of the hose going into the gas tank that was leaking.

Might have an injector stuck open. Pull the thottle body and prime fuel system(just key on or tap starter button.) Dont crank .watch for gas dripping out the injectors.