Exhibit 99.3

IMPERIAL PETROLEUM, INC.

Pro Forma Consolidated Balance Sheet

(Unaudited)

	Imperial			e-biofuels				Consolidated
	31-Jul 2009			31-Jul 2009			Adjustments	31-Jul 2009
ASSETS
Current Assets
Cash	$	17,153		$	224,282			$	241,435
Certificates of deposit		52,500			—				52,500
Accounts Receivable		60,651			646,625				707,276
Inventories		—			164,165				164,165
Prepaids		—			145,603				145,603
Total Current Assets	$	130,304		$	1,180,675			$	1,310,979
Property, Plant & Equipment
Fixed Assets		—			10,917,611				10,917,611
Oil & gas properties (full cost method)		3,509,514			—				3,509,514
		3,509,514			10,917,611				14,427,125
Less: accumulated DD&A		(501,009	)		(1,251,730	)			(1,752,739	)
Net property, plant & equipment		3,008,505			9,665,881				12,674,386
Other Assets
Deferred financing expense, net of accumulated amortization of $3,212,333		—			—				—
Total Assets	$	3,138,809		$	10,846,556			$	13,985,365
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts Payable	$	471,948		$	2,570,894			$	3,042,842
Accrued expenses		718,444			794,168				1,512,612
Notes payable-current portion		12,858			—				12,858
Notes payable- related parties		515,618			42,193				557,811
Line of credit		—			3,248,397				3,248,397
Other current liabilities		120,819			1,207,170				1,327,989
Total current liabilities		1,839,687			7,862,822				9,702,509
Long Term Liabilities
Asset retirement obligation		406,562			—				406,562
Senior debt		—			1,436,891				1,436,891
Long Term Notes		—			10,548,825				10,548,825
Total long term liabilities		406,562			11,985,716				12,392,278
STOCKHOLDERS’ EQUITY
Common Stock		101,788			—				101,788
Paid In Capital		11,511,265			(574,925	)			10,936,340
Retained Deficit		(10,013,189	)		(8,427,057	)			(18,440,246	)
Treasury Stock		(707,304	)		—				(707,304	)
Total Stockholders’ Equity		892,560			(9,001,982	)			(8,109,422	)
Total Liabilities and Stockholders’ Equity	$	3,138,809		$	10,846,556			$	13,985,365

Imperial Petroleum, Inc.

Pro Forma Income Statement

For the year ended 7/31/2009

UNAUDITED

	Imperial Petroleum			e-biofuels LLC		Total
Operating income:
Biofuels Revenue		—		29,370,636			29,370,636
Oil & Gas Revenue		1,069,361		—			1,069,361
Other		—		—			—
Total operating income		1,069,361		29,370,636			30,439,997
Operating expenses:
Biofuels Expenses		—		30,043,380			30,043,380
Oil & Gas Expenses		985,753		—			985,753
General and administrative expenses		383,101		2,405,923			2,789,024
Merger expenses		—		—			—
Depreciation, depletion and amortization		137,043		780,102			917,145
Total operating expenses		1,505,897		33,229,405			34,735,302
Gain/ Loss from operations		(436,536	)	(3,858,769	)		(4,295,305	)
Other income(loss):
Interest expense		(1,600,431	)	(1,200,475	)		(2,800,906	)
Interest income		2,594		989			3,583
Amortization of loan fees		(246,146	)	—			(246,146	)
Other income (expense)		(14,615	)	(3,100,563	)		(3,115,178	)
Gain (loss) on sale of assets		13,080,577		—			13,080,577
Total other income and (expense)		11,221,979		(4,300,049	)		6,921,930
Net income (loss) before income taxes		10,785,443		(8,158,818	)		2,626,625
Provision for income taxes:		—		—			—
Net Income (Loss)	$	10,785,443		(8,158,818	)		2,626,625
Wt Avg Shares		16,694,441		—			16,694,441
Income/Loss per Share	$	0.646				$	0.157

IMPERIAL PETROLEUM, INC.

(as of 1-31-10)

Pro Forma Consolidated Balance Sheet

(Unaudited)

	Imperial			e-biofuels				Consolidated
	31-Jan 2010			31-Jan 2010			Adjustments	31-Jan 2010
ASSETS
Current Assets
Cash	$	29,673		$	306,578			$	336,251
Certificates of deposit		53,326			—				53,326
Accounts Receivable		100,847			166,796				267,643
Inventories		—			216,638				216,638
Prepaids		—			28,667				28,667
Total Current Assets	$	183,846		$	718,679			$	902,525
Property, Plant & Equipment
Fixed Assets		—			10,750,084				10,750,084
Oil & gas properties (full cost method)		3,586,144			—				3,586,144
		3,586,144			10,750,084				14,336,228
Less: accumulated DD&A		(513,123	)		(1,517,780	)			(2,030,903	)
Net property, plant & equipment		3,073,021			9,232,304				12,305,325
Other Assets
Deferred financing expense, net of accumulated amortization of $3,212,333		—			—				—
Total Assets	$	3,256,867		$	9,950,983			$	13,207,850
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Accounts Payable	$	719,376		$	3,287,315			$	4,006,691
Accrued expenses		813,850			2,588,776				3,402,626
Notes payable-current portion		111,358			11,251,874				11,363,232
Notes payable- related parties		514,618			77,876				592,494
Other current liabilities		120,819			—				120,819
Total current liabilities		2,280,021			17,205,841				19,485,862
Long Term Liabilities
Asset retirement obligation		406,562			—				406,562
Senior debt		—			2,297,795				2,297,795
Long Term Notes		—			1,460,105				1,460,105
Total long term liabilities		406,562			3,757,900				4,164,462
STOCKHOLDERS’ EQUITY
Common Stock		108,388			—				108,388
Paid In Capital		11,657,233			(785,975	)			10,871,258
Retained Deficit		(10,488,033	)		(10,226,783	)			(20,714,816	)
Treasury Stock		(707,304	)		—				(707,304	)
Total Stockholders’ Equity		570,284			(11,012,758	)			(10,442,474	)
Total Liabilities and Stockholders’ Equity	$	3,256,867		$	9,950,983			$	13,207,850

Imperial Petroleum, Inc.

Pro Forma Income Statement

(Six Months Ending 1/31/2010)

UNAUDITED

	Imperial Petroleum			e-biofuels LLC		Total
Operating income:
Biofuels Revenue		—		5,610,480			5,610,480
Oil & Gas Revenue		98,271		—			98,271
Total operating income		98,271		5,610,480			5,708,751
Operating expenses:
Biofuels Expenses		—		5,464,306			5,464,306
Oil & Gas Expenses		292,420		—			292,420
General and administrative expenses		237,407		666,231			903,638
Merger expenses		—		—			—
Depreciation, depletion and amortization		12,114		341,633			353,747
Total operating expenses		541,941		6,472,170			7,014,111
Gain/ Loss from operations		(443,670	)	(861,690	)		(1,305,360	)
Other income(loss):
Interest expense		(31,207	)	(344,714	)		(375,921	)
Interest income		528		—			528
Other income (expense)		—		(128,586	)		(128,586	)
Gain (loss) on sale of assets		—		—			—
Total other income and (expense)		(30,679	)	(473,300	)		(503,979	)
Net income (loss) before income taxes		(474,349	)	(1,334,990	)		(1,809,339	)
Provision for income taxes:		—		—			—
Net Income (Loss)	$	(474,349	)	(1,334,990	)		(1,809,339	)
Wt Avg Shares		17,250,155		—			17,250,155
Income/Loss per Share	$	(0.027	)			$	(0.105	)