Did you install XCode on your Mac? If not you won't be able to simulate iOS.
I already installed Xcode on Mac. Thank you.
I have the same problem, at first I got error messages, that it was unsuccessfull to build app, but I fixed it with the help of this post: http://forums.adobe.com/message/4002753#4002753#4002753
now my app was build successfully, but the emulator doesn't appear
xcode is in stalled and the settings are propperly pointed in the right direction (I believe)
any help is appreciated