Hi Albert,
AQtime's licensing system may show this error. I'm not sure why the licensing modules are removed. As far as I remember, HASP (the third-party vendor of the licensing system) doesn't officially support Windows 8.1. So, this might be the cause of the behavior.
Anyway, the latest License Manager utility version installs the HASP licensing system v. 6.60 that works fine on Windows 8.1 (our R&D team has tested it). You can download the utility from here:
http://downloads.smartbear.com/SmartBearLicenseManager.exe
Let us know whether this helps.