Did you actually install the COBOL Server product to the server computer or did you simply copy the run-time files to your application folder?
Does your application run correctly if you run it on the Server itself or does it also fail with a license error?
The actual license will be picked up from the machine name or IP address specified in the ces.ini file that you are pointing to with CES_INIT_LOCATION.
What is the content of that file?