Your license is valid for 12 months from the date of issue, the initial purchase is setup as a subscription which will automatically renew if you do not cancel it. If you do decide to cancel your subscription your current license will expire, but you will be allowed to continue using the software with some restrictions. You will not be able to issue licenses from the license manager (no unattended license generation) and you will not be able to issue licenses using strong (military strength) encryption. There is no effect on your end user experience and licenses you have issued continue to be valid.