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License Issue

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We have been using a 120 seat educational license running 3dcoat 4.8 with fserver version 1.6. we have upgraded to version 4.9.04 but am getting a "there are no more floating licenses available. Limit is reached"



I have tested the license and it is valid which works when inputted directly to register single user use. The service is running on the server





but is not showing the 120 licenses available. The license.dat file is valid with the serial number V4ACAD-VZ138K-******-******

can anyone help us understand what could be causing the problem?

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