Pearce has already dipped heavily into the transfer market since his return to the City Ground over the summer, bringing in 11 players on permanent deals over the summer, and three more on loan before the transfer window closed in January.
An impressive start to the season saw Forest remain undefeated until October, although two defeats in their last three games - and no win in eight - have seen the former Championship leaders fall out of the play-off places.
In an attempt to recover their form, and kick-start their promotion chase heading into the hectic winter months, Pearce once again utilised the transfer market, signing out-of-favour Hull City winger Tom Ince on loan until December. Arguably one of the best players at Championship level for the past three seasons, Forest have secured the services of a real talent, and, although his career has veered off track in recent months, the former England Under-21 international will be hoping to use the loan to fight his way back into contention in the Premier League.
Ince’s arrival allows Pearce to deploy three of the strongest attackers at Championship level - alongside Britt Assombalonga and Michail Antonio - and he is looking to further complicate his selection process in the coming weeks, confirming that the Reds are still in the market for a further loan signing.
Speaking to the Nottingham Post, Pearce said: "We are still looking for another loan signing, but that will not happen before the weekend.
"But it is ongoing, as I still believe we need another player to come in and add to the squad situation that we have.
"We are here to build and push the club forward.
"I will continually look to improve the squad of players we have at our disposal. If we feel as though a player is just going to be a squad player, we would not sign them."
With a number of players out of action through injury, Forest’s squad could use strengthening in the central midfield area, but there are no viable players available on the loan market. If they can sign another few players on short-term deals, it may just be enough to kick-start their season and help return the club to the glories of the top flight.