Restore Previous Purchase only occurs when you purchase the free version, Record It - Screen Recorder, from Apple Mac App Store. You don't need to enter license code.

If you purchase it from Website Store or buy the Record It Pro - Screen Recorder from Apple Mac App Store, you don't need to restore previous purchase.
Restore Previous Purchase directly in the upgrade window and do not need to re-pay. If it shows Restore Success, congratulations, the previously locked functions have been activated and can be used normally. If it failed, please contact us: [email protected] and provide your purchase record.

Due to Apple needs to confirm your purchase info, you may be required to sign in with your Apple ID. When you restore your purchase, make sure you use the same Apple ID previously used to purchase the app.
Note:
1. If you install different versions of Record It on your computer, please uninstall all and then download and install it again from the Mac App Store.
2. One license only for one Mac, you cannot bind one license to different devices.