AQTime displays this message when you start profiling, but there is nothing to profile, since there are no modules in your AQTime project.
To add a module (managed or unmanaged) to the project, switch to the Setup panel and select Add Module from the context menu and then select the desired file from the ensuing Open File dialog. Alternatively, you can add an existing .NET assembly to the project using the Add Assembly dialog. To call it, select Add Assembly from the context menu of the Setup panel. And finally, you can add a web page to profile a script from it. To do this, choose Add URL from the context menu of the Setup panel.