If you are setting up a license server on the Mac, you may encounter the following error:
No valid hostids, exiting
EXITING DUE TO SIGNAL 34 Exit reason 2
adskflex exited with status 34 (Invalid host).
What made this cas interesting is that the system was a Mac Mini running Mac OS 10.8.x with a Server "Add-in" so in the About Dialog box, it will just state that the computer is running Mac OS 10.8 but in reality it is a Mac OS X Server.
To solve this problem, you will need to generate your license based off your Wi-Fi (formerly AirPort) card even if you are not using it.
Wi-Fi > Advanced > Hardware > Ethernet Address
Thanks to Fred Levy for confirming this workaround solved the problem.