After Motorolas $349 Moto X offer devolved into a public relations disaster on Cyber Monday, CEO Dennis Woodside has issued a formal apology to disappointed consumers everywhere. We owe you an apology, reads the note posted at Motorolas official blog. I want you to understand what happened, and what we are doing to rectify the situation. According to Woodside, Motorola badly misjudged demand for the discounted Moto X, which wound up being far greater than we expected. The mistakes piled up from there, as Woodside says his company failed to adequately test MotoMaker before the offer went live. Thankfully Motorola seems to have found a solution for the issues that plagued it yesterday, and is preparing to relaunch the $349 promotion for two days.