Doesn't make sense: iOS crash on start up

Hey all, I'm having trouble getting my build to run on iOS.

- Using Iphone 5 (1GB RAM)
- The app crashes on start up with XCode console printing "Warning: Did receive memory error".
Screenshot of console
- However when I check using memory profiler, the memory usage is low only about <300 MB. When I check using XCode instrument, the frame before app crash also show relatively safe RAM usage (<400 MB).
Screenshot of Memory profiler
- The app should be well within 50% of RAM usage so why crash with memory warning?
- I tried another barebone app, it runs just fine and still running with >500MB use (with instrument).

Anyone have any Ideas? I am kind of at my wits end on debugging this issue.