City had also made enquries to Sunderland to bring either Michael Reddy or Kevin Kyle in. Reddy enjoyed a very succesful month-long stay with City earlier this season, while Kyle has had stints at Huddersfield, Darlington and Rochdale previously.
However, attempts to sign either of those two have also failed.
Pearson confirmed: "The Sunderland situation regarding Reddy and Kyle is finished. Neither player will be coming but that's all I want to say on the matter at this moment in time.
"However, we have one or two other irons in the fire and we're working on them. Hopefully, something will happen although we will need to complete any deal before tomorrow afternoon."
Transfer deadline day is Thursday 21st March, by which time a forward will hopefully be at Boothferry Park for the season run-in.
Gary Bradshaw has been given a chance in the side recently and scored in his second game, but a back injury ruled him out of the derby defeat to Scunthorpe.
Billy Russell is hoping to have the youngster fit for the Oxford clash: "There's a chance Gary might be back on Saturday but it's just a matter of waiting and hoping. He hasn't been able to train this week but there's still time yet."