[badclient]

I got the sense that VCs were lining up for Series A

Did they tell you that VCs were lining up for Series A? Because when you just say "you got the sense", you say little about what they said and more about how you perceived whatever they said.

[ricardobeat]

They might have said "we are looking into raising a Series A in the following months" or "Guy X is in contact with some of the top VCs in the valley", "we have a lot of interest from VCs", "we are in talks with xxx", etc. None is an affirmative, but they paint a clear scenario in your head.

[prawn]

And quite possible that none of those statements were untrue, either?