OS 3.1.2 Provisioning profile has expired
Last night I ran into some issues whilst trying to code sign my new application and found that I had to upgrade to the latest version of XCode to be able to install the application on my iPhone.
However once I had upgraded XCode to the latest version version, the application would then install on the iPhone but it then gave me a new error which I have not seen before and this puzzled me because the provisioning profile had not expired and was installed correctly.
After much googling i found that it is perhaps a bug with the new version of XCode basically if you have any other provisioning profiles installed which have expired it will stop your new applications from running until you either remove the expired profiles or update them.
As you can see from the picture below I had many profiles installed which have all expired so I deleted these and the new application works fine.