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Find the following code
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<!-- Item "read more..." link -->
	<div class="catItemReadMore">
		<a class="k2ReadMore" href="<?php echo $this->item->link; ?>">
			<?php echo JText::_('Read more...'); ?>
		</a>
	</div>
	
	
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Replace it with this	
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<!-- Item "read more..." link -->
	<!-- Added by mihha  -->
	<?php $user =& JFactory::getUser(); ?>
  <?php if($user->get('guest') ==0 ): ?>
  <!-- End of changes  -->

			<div class="catItemReadMore">
				<a class="k2ReadMore" href="<?php echo $this->item->link; ?>">
					<?php echo JText::_('Read more...'); ?>
				</a>
			</div>
			
	<!-- Added by mihha  -->
	<?php else: ?>
			<div class="catItemReadMore">
				<a class="k2ReadMore" href="index.php?option=com_comprofiler&task=registers">
					<?php echo JText::_('Subscribe to read more'); ?>
				</a>
			</div>

	<?php endif; ?>
	<!-- End of changes  -->