The idea of having an IR person is to maintain an upbeat aire regarding the company. While the BONY event certainly was a nightmare, you don't use that kind of terminology with investors. The way you overcome a 'nightmare' is to wake up. The way to overcome a stock 'nightmare' is to sell. Nobody wants to find themselves involved with a problem they have no control over. You don't encourage shareholders to walk away, you encourage them to stay.
"The AMEX delisting will eventually prove itself to be a minor inconvenience and a small, but temporary, setback as we continue to press forward with our suite of next generation telecom products and services."
That's what I would try to spin.
No man should be considered totally useless....because he can always serve as a bad example.