According to the settlement, O'Face will have their liquor license suspended for seven days from 8am, October 5, 2014 to 8am, October 12, 2014. During that period, the bar can remain open for other lawful activities, but no alcohol of any kind can be sold or given away during that time frame. They also must pay $1,000 to the Iowa Alcoholic Beverages Division.
Here is the link with information regarding the settlement.
This comes just after the Council Bluffs City Council rejected their liquor license. O'Face appealed that decision, and has a hearing date for their liquor license renewal on July 28th (link to documents). Look for an update on that after the hearing occurs.