Cant build project

Hi all im trying to build my app and it just gets stuck building for hours. I have even tried to build the hello world sample and different builds. Here is the output.

2013-07-02 19:33:32.317 Corona Simulator[3665:707] *** -[NSPlaceholderString initWithUTF8String:]: NULL cString

2013-07-02 19:33:32.318 Corona Simulator[3665:707] (

    0   CoreFoundation                      0x00007fff8d6ee0a6 __exceptionPreprocess + 198

    1   libobjc.A.dylib                     0x00007fff8a7af3f0 objc_exception_throw + 43

    2   CoreFoundation                      0x00007fff8d6ede7c +[NSException raise:format:] + 204

    3   Foundation                          0x00007fff8483e27c -[NSString initWithUTF8String:] + 74

    4   Corona Simulator                    0x000000010003097c start + 190508

    5   Corona Simulator                    0x00000001000306a1 start + 189777

    6   Corona Simulator                    0x000000010002bb3a start + 170474

    7   Corona Simulator                    0x000000010002c6bb start + 173419

    8   Corona Simulator                    0x000000010001473d start + 75245

    9   Corona Simulator                    0x000000010000d4fd start + 45997

    10  Foundation                          0x00007fff8480bdb5 __NSFireDelayedPerform + 358

    11  CoreFoundation                      0x00007fff8d6aada4 __CFRUNLOOP_IS_CALLING_OUT_TO_A_TIMER_CALLBACK_FUNCTION__ + 20

    12  CoreFoundation                      0x00007fff8d6aa8bd __CFRunLoopDoTimer + 557

    13  CoreFoundation                      0x00007fff8d690099 __CFRunLoopRun + 1513

    14  CoreFoundation                      0x00007fff8d68f6b2 CFRunLoopRunSpecific + 290

    15  HIToolbox                           0x00007fff8eb6d0a4 RunCurrentEventLoopInMode + 209

    16  HIToolbox                           0x00007fff8eb6ce42 ReceiveNextEventCommon + 356

    17  HIToolbox                           0x00007fff8eb6ccd3 BlockUntilNextEventMatchingListInMode + 62

    18  AppKit                              0x00007fff86a8c613 _DPSNextEvent + 685

    19  AppKit                              0x00007fff86a8bed2 -[NSApplication nextEventMatchingMask:untilDate:inMode:dequeue:] + 128

    20  AppKit                              0x00007fff86a83283 -[NSApplication run] + 517

    21  AppKit                              0x00007fff86a27cb6 NSApplicationMain + 869

    22  Corona Simulator                    0x0000000100002184 start + 52

    23  ???                                 0x0000000000000001 0x0 + 1

)