PDF2XL uses an email and password combination to activate the software.
The Login Information is saved to the registry under:
Computer > HKEY_CURRENT_USER > Software > Cogniview > PDF2XL > General
The License Data is saved to %APPDATA%\CogniView. The filename is 8d41a6590c4bff0885.lic
During the activation process, the application will first look for the license file.
If it is found, and it is valid, it does not need to access the registry.