PB License on a VM

I have installed PowerBuilder 12.5 on a virtual machine, using a license I generated from SubscribeNet; but PowerBuilder is treating it as a "Trial" version.  I know the license is good, because we used it for years on a laptop.  I checked in the license, and regenerated it for the VM, but I can't get PowerBuilder to consider it a "Valid" license.  Does anyone have any insight?  Thanks, Mark.