This is the level converter?https://www.sparkfun.com/products/8745
You have to provide it with 3.3V on the LV pin and 5V on the HV pin.
I see voltage on one side from the battery.
I don't see the other side being powered at all.
Here's a schematic of the boardhttps://www.sparkfun.com/datasheets/BreakoutBoards/Level-Converter-v10.pdf
You can see where HV is an input that needs to be powered.
You are not running any signals thru the converter? What is your thoughts on what it is supposed to be doing for your circuit? It is intended to change 5V control signals down to say 3.3, 1.8V, etc, and 1.8 or 3.3V level signals up to 5V. It will not change the Power lines for you.
If you are thinking it will make 5V to power (the ping sensor?) it will not do that.
For that you need a boost regulator, such as:http://www.pololu.com/product/2562
(and conveniently on sale!)