XCode Invalid Provision Profile for running a profile/inspector - iPhone App

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"A valid provisioning profile for this executable was not found" is displayed when I do a "command I" or XCode Product Menu and select the Profile menu item.

I want to profile my iPhone application for memory leaks. I have a valid team provision profile and I have a valid app specific provisioning profile and distribution profile.

I must need to setup something in the build settings but I can't figure it out. Searching for invalid provisioning profile for profiling has too many profile words in it and I don't find anything.

I hate to bother everyone, but I am out of ideas on how to search for a solution or find the answer.

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