Exhibit 99.3

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEET

As of March 31, 2013

Lipocine Inc. and Marathon Bar Corp.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

Three Months Ended March 31, 2013

Lipocine Inc. and Marathon Bar Corp.

UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENT OF OPERATIONS

Year Ended December 31, 2012

Lipocine Inc. and Marathon Bar Corp.

NOTES TO UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE

SHEET AND STATEMENT OF OPERATIONS

MARCH 31, 2013

On July 24, 2013, Marathon Bar Corp., a Delaware corporation and MBAR Acquisition Corp. a wholly-owned subsidiary of Marathon Bar, or Merger Sub (collectively “MBC”), and Lipocine Inc. (“the Company”), a Delaware corporation, entered into a merger and plan of arrangement, or the Merger Agreement. Pursuant to the Merger Agreement, MBC merged with and into the Company, and the Company became the surviving corporation. Following the closing of the Merger, the Company became a wholly-owned subsidiary of MBC, with the former stockholders of the Company owning 99% of the outstanding shares of common stock of the combined company.

Prior to the execution and delivery of the Merger Agreement, the board of directors of MBC approved the Merger Agreement and the transactions contemplated thereby. Similarly, the board of directors of the Company approved the Merger Agreement. Upon completion of the Merger, the current officer and director of MBC resigned and the current officers and directors of the Company were appointed officers and directors of the merged company. The acquisition will be accounted for as a reverse acquisition with the Company as the accounting acquirer and MBC as the accounting acquiree. The merger of a private operating company into a non-operating public shell corporation with nominal assets is considered a capital transaction, in substance, rather than a business combination, for accounting purposes. Accordingly, the Company treated this transaction as a capital transaction without recording goodwill or adjusting any of its other assets or liabilities. MBC is subject to the public reporting requirements of the Securities and Exchange Act of 1934, as amended. Concurrent with the acquisition, the newly merged company was renamed Lipocine, Inc.

The unaudited pro forma condensed combined consolidated financial statements of the newly merged Company (the “pro forma financial statements”) have been prepared for illustrative purposes only and are not necessarily indicative of what the combined entities condensed consolidated financial position or results of operations actually would have been had the merger (the “merger”) between the Company and MBC been completed as of the dates indicated below. In addition, the unaudited pro forma condensed combined consolidated financial information does not purport to project the future financial position or operating results of the combined entities. Future results may vary significantly from the results reflected because of various factors.

The pro forma financial statements give effect to the merger as if the merger was already consummated. The historical financial statements have been adjusted in the pro forma financial statements to give effects to events that are (1) directly attributable to the merger, (2) factually supportable, and (3) with respect to the statement of operations, expected to have a continuing impact on the combined entities. The unaudited pro forma condensed combined consolidated statements of operations does not reflect any non-recurring charges directly related to the merger that the combined entities may incur upon completion of the merger. The Company has not include $340,000 paid to MBC and $493,960 in professional fees and other costs associated with the merger in the pro forma condensed combined consolidated statements of operations as these costs are non-recurring. The pro forma financial statements were derived from and should be read in conjunction with the historical financial statements of the Company and MBC.

The unaudited pro forma condensed combined consolidated balance sheet as of March 31, 2013 reflects the merger as if it occurred on March 31, 2013 and the unaudited pro forma condensed combined consolidated statements of operations for the three months ended March 31, 2013 and the year ended December 31, 2012 reflect the merger as if it occurred on January 1, 2012.

The unaudited pro forma adjustments are as follows:

The computation of the pro forma basic earnings per share is based on the weighted average number of common shares outstanding after giving effect for the 100 to 1 reverse stock split of MBC’s common

stock (35,000 shares after the reverse stock split), the redemption of 30,000 shares of (for $40,000) MBC’s common stock and the issuance of 4,702,713 new shares issued of MBC’s common stock to the Company’s stockholders pursuant to the reverse acquisition.

The computation of the pro forma diluted earnings per share for the year-ended December 31, 2012 and the three months ended March 31, 2013 does not include the following stock options, unvested restricted stock and warrants (at the newly exchanged quantity) to purchase shares because these common stock equivalents were anti-dilutive: