try this. no path in the licensetarget attribute.
<license input="${flex.src}\licenses.licx"
output="${flex.out}\FlexGridBuildTest.exe.license"
licensetarget="FlexGridBuildTest.exe">
<assemblies>
<includes name="${flex.out}\C1.Win.C1FlexGrid.dll"/>
</assemblies>
</license>
=====
Michael Dang
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