Using your First Figure of Market Capitalization $7.3 M x 35 = $255 M and a PE = 15, PLPL should have Revenues around $85 M x year!!! Where did you get that estimate TIA.
I wish you luck with your assessment. As I've said repeatedly...I believe a big reverse split is necessary. And in my experience people head for the hills when that happens. However,
IMO the smartest thing new CEO Rick O'Shea could do to prevent typical knee-jerk panic would be to publish comprehensive, AUDITED disclosures BEFORE announcing a reverse split in order to encourage long term investor confidence.