Here is the introductory paragraph from the statement:
We at Registerfly.Com would like to offer our sincere apologies to all that have been affected by the actions of our former CEO / President, Kevin Medina. We cannot change the past but will make every effort to change the future of RegisterFly.com. As a result of Mr. Medina's actions many of you have lost your domains, experienced problems with your Hosting, Renewals and Registrations. For this reason Mr. Medina's our "Board of Directors" had no recourse but to take action against Mr. Medina and fire him.
Clearly the remaining principles are placing 100% of the blame on Mr. Medina's shoulders, however this only leads to further questions: If Mr. Medina was locked out of the servers as of Monday, why is RegisterFly still having problems regaining control of their network? Why did they not fire Mr. Medina and address customer support issues sooner? Why did it take a threat from ICANN to motivate them to respond? When do they expect to give customers control over their domains once again? What will they do to regain customer domains they have already lost?"