Re-building air ratchets
Did not have to take much apart to get at what I believe is needed and that is called a valve seat part # IM5100-22A 4.65.
This piece was broken into various sized pieces within the tool, looks like a plastic O-ring of sorts, 90% sure that this will fix the problem.
As luck would have it the part carries the same part # as what is also broken within my 300 plus dollar piece of junk Snap-On air chisel that has about 3 hrs use.
I will be ordering these fairly inexpensive parts and will update.