timeElapsed is an object, React doesn’t know how to render this:
<View style={[styles.timerContainer, this.borderColor('#ff6666')]}>
{this.state.timeElapsed}
</View>
Try changing this.state.timeElapsed for a string like for example:
<View style={[styles.timerContainer, this.borderColor('#ff6666')]}>
{this.state.timeElapsed.toString()}
</View>