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<SEC-DOCUMENT>0001181431-07-069191.txt : 20071115
<SEC-HEADER>0001181431-07-069191.hdr.sgml : 20071115
<ACCEPTANCE-DATETIME>20071114181456
ACCESSION NUMBER:		0001181431-07-069191
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071114
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071115
DATE AS OF CHANGE:		20071114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQUUS TOTAL RETURN, INC.
		CENTRAL INDEX KEY:			0000878932
		IRS NUMBER:				760345915
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00098
		FILM NUMBER:		071247093

	BUSINESS ADDRESS:	
		STREET 1:		2727 ALLEN PKWY
		STREET 2:		13TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77019
		BUSINESS PHONE:		7135290900

	MAIL ADDRESS:	
		STREET 1:		2727 ALLEN PARKWAY
		STREET 2:		13TH FLOOR
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUUS II INC
		DATE OF NAME CHANGE:	19970422
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd178608.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>

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<B><FONT face="serif">U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549</FONT></B></P>
<P align="center">
<TABLE><TR><TD align="center" nowrap>
<B><FONT size=4 face="serif">FORM 8-K</FONT></B><BR>
<BR>
<B><FONT size=4 face="serif">CURRENT REPORT</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="center">
<FONT face="serif">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></P>
<P align="left">
<FONT face="serif">Date of Report (Date of earliest event reported): November 9, 2007</FONT></P>
<P align="center">
<TABLE><TR><TD align="center" nowrap>
<B><FONT size=4 face="serif">Equus Total Return, Inc.</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="center">
<FONT face="serif">(Exact name of registrant as specified in its charter)</FONT></P>
<P align="center">
<TABLE><TR><TD align="center" nowrap>
<B><FONT face="serif">Delaware</FONT></B><BR>
<FONT face="serif">(State or other jurisdiction of incorporation)</FONT><BR>
</TD></TR></TABLE>
</P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=43% nowrap align=center>
<B><FONT face="serif">0-19509</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=54% nowrap align=center>
<B><FONT face="serif">76-0345915</FONT></B>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=43% nowrap align=center>
<FONT face="serif">(Commission File Number)</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=54% nowrap align=center>
<FONT face="serif">(I.R.S. Employer Identification No.)</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>
<P align="center">
<B><FONT face="serif">2727 Allen Parkway, 13</FONT></B><B><SUP><FONT face="serif">th</FONT></SUP></B><B><FONT face="serif"> Floor, Houston, Texas 77019</FONT></B></P>
<P align="center">
<FONT face="serif">(Address of principal executive offices, zip code)</FONT></P>
<P align="center">
<FONT face="serif">Registrant&#146;s telephone number, including area code: </FONT><B><FONT face="serif">(713) 529-0900</FONT></B></P>
<P align="center">
<B><FONT face="serif">N/A</FONT></B></P>
<P align="center">
<FONT face="serif">(Former name or former address, if changed since last report)</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>
<P align="left">
<FONT face="serif">[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P align="left">
<FONT face="serif">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P align="left">
<FONT face="serif">[ ] Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange act (17 CFR 240.14d-2(b))</FONT></P>
<P align="left">
<FONT face="serif">[ ] Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange act (17 CFR 240.13e-4(c))</FONT></P>

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<P align="left">
<B><FONT face="serif">Item 2.02. Results of Operations and Financial Condition.</FONT></B></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">On November 14, 2007, Equus Total Return, Inc. (the &#147;Fund&#148;) issued a press release announcing its net assets and net asset value for the quarter ended September 30, 2007. The text of the
press release is included as Exhibit 99.1 to this Current Report and is incorporated herein by reference. The press release is furnished pursuant to Item 2.02 and shall not be deemed &#147;filed&#148; for purposes of Section 18 of the Securities
Exchange Act of 1934 (the &#147;Exchange Act&#148;), or subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act,
except as shall be expressly set forth by specific reference in such filing.</FONT></P>
<P align="left">
<TABLE><TR><TD nowrap>
<B><FONT face="serif">Item 8.01.</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<TABLE><TR><TD nowrap>
<B><FONT face="serif">Other Events.</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">On November 9, 2007, the Fund issued a press release announcing a fourth quarter dividend for 2007 and setting the record date, election date to receive cash in lieu of stock and payment date for such
dividend. The text of the press release is included as Exhibit 99.2 to this Current Report and is incorporated herein by reference.</FONT></P>
<P align="left">
<B><FONT face="serif">Item 9.01. Financial Statements and Exhibits.</FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT face="serif">(d)</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<U><FONT face="serif">Exhibits</FONT></U><FONT face="serif">.</FONT>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT face="serif">99.1</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT face="serif">Press Release, dated November 14, 2007.</FONT>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT face="serif">99.2</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<FONT face="serif">Press Release, dated November 9, 2007.</FONT>	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR></TABLE>
<P align="left">
<FONT face="serif">1</FONT></P>

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<TABLE><TR><TD align="center" nowrap>
<B><FONT face="serif">SIGNATURE</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
<P align="center">
<TABLE><TR><TD align="center" nowrap>
<B><FONT face="serif">EQUUS TOTAL RETURN, INC.</FONT></B><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<TABLE><TR><TD nowrap>
<FONT face="serif">Dated: November 14, 2007</FONT><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<TABLE><TR><TD nowrap>
<FONT face="serif">By: /s/ L&#146;Sheryl D. Hudson</FONT><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<TABLE><TR><TD nowrap>
<FONT face="serif">L&#146;Sheryl D. Hudson</FONT><BR>
<FONT face="serif">Vice President and Chief Financial Officer</FONT><BR>
</TD></TR></TABLE>
</P>
<P align="left">
<FONT face="serif">2</FONT></P>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>rrd178608_22377.htm
<DESCRIPTION>PRESS RELEASE
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<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=48% nowrap align=left>
<B><FONT face="serif">FOR IMMEDIATE RELEASE</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=28% nowrap align=left>
<B><FONT face="serif">CONTACT:</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=right>
<B><FONT face="serif">BRETT CHILES</FONT></B>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=48% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=28% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=right>
<B><FONT face="serif">(713) 529-0900</FONT></B>&nbsp;
	</TD>
</TR>
</TABLE><BR>
<P align="center">
<B><FONT size=5 face="serif">EQUUS TOTAL RETURN, INC. ANNOUNCES THIRD QUARTER NET ASSET VALUE</FONT></B></P>
<P align="left">
<B><FONT face="serif">HOUSTON, TX &#150; November 14, 2007 &#150; Equus Total Return, Inc. (NYSE: EQS) </FONT></B><FONT face="serif">(the &#147;Fund&#148;) reports net assets as of September 30, 2007, of &#36;87.9 million, or &#36;10.54 per share.
Comparative data is summarized below:</FONT></P>
<TABLE border=0 cellspacing=1 cellpadding=0>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=20% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=19% nowrap align=left>
 &nbsp; &nbsp;<U><FONT size=2 face="serif">9/30/07</FONT></U>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=12% nowrap align=right>
<U><FONT size=2 face="serif">6/30/07</FONT></U>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=13% nowrap align=left>
 &nbsp; &nbsp;<U><FONT size=2 face="serif">3/31/07</FONT></U>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=right>
<U><FONT size=2 face="serif">12/31/06</FONT></U>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=28% nowrap colspan=3 align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net assets</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=19% nowrap align=right>
<FONT size=2 face="serif">&#36;87,861,656</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=12% nowrap align=right>
<FONT size=2 face="serif">&#36;92,163,028</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=13% nowrap align=right>
<FONT size=2 face="serif">&#36;92,097,959</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=right>
<FONT size=2 face="serif">&#36;93,235,863</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=28% nowrap colspan=3 align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Shares outstanding</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=19% nowrap align=right>
<FONT size=2 face="serif">8,333,248</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=12% nowrap align=right>
<FONT size=2 face="serif">8,265,829</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=13% nowrap align=right>
<FONT size=2 face="serif">8,216,899</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=right>
<FONT size=2 face="serif">8,164,249</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=28% nowrap colspan=3 align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">Net assets per share</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=19% nowrap align=right>
<FONT size=2 face="serif">&#36;10.54</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=12% nowrap align=right>
<FONT size=2 face="serif">&#36;11.15</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=13% nowrap align=right>
<FONT size=2 face="serif">&#36;11.21</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=right>
<FONT size=2 face="serif">&#36;11.42</FONT>&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=49% nowrap colspan=5 align=left>
<FONT face="serif">Significant events for the quarter were as follows:</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=12% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=13% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR>
	<TD colspan=11>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">&middot; </FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=89% nowrap colspan=9 align=left>
<B><FONT face="serif">Sports and Leisure. </FONT></B><FONT face="serif">On August 16, 2007, the Fund made a &#36;2,000,000 equity follow-on</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=89% nowrap colspan=9 align=left>
<FONT face="serif">investment in Nickent Golf, Inc. (&#147;Nickent&#148;). Nickent is a definitive market leader in the</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=89% nowrap colspan=9 align=left>
<FONT face="serif">rapidly growing and expanding, hybrid club segment of the golf industry and is an</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=55% nowrap colspan=5 align=left>
<FONT face="serif">emerging leader in game-enhancement technology.</FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=13% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=17% nowrap align=left>
&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">&middot; </FONT>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=89% nowrap colspan=9 align=left>
<B><FONT face="serif">Dividend. </FONT></B><FONT face="serif">On September 24, 2007, in accordance with the Fund&#146;s managed distribution</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=6% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=89% nowrap colspan=9 align=left>
<FONT face="serif">policy, the Fund paid a &#36;0.125 per share dividend in the form of cash and stock.</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT face="serif">Subsequently, on October 4, 2007, the Fund made a &#36;3,000,000 mezzanine loan to Big Apple Entertainment Partners LLC in connection with the Ripley&#146;s Times Square venue.</FONT></P>
<P align="left">
<FONT face="serif">The Fund had approximately &#36;34 million in cash at the end of the quarter.</FONT></P>
<P align="left">
<FONT face="serif">Equus Total Return, Inc. is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information on Equus Total Return, Inc. may be obtained from the Equus
website at www.equuscap.com.</FONT></P>
<P align="left">
<I><FONT face="serif">This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund&#146;s current expectations and assumptions and are subject to various
risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements </FONT></I></P>

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<I><FONT face="serif">including, in particular, the risks and uncertainties described in the Fund&#146;s filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statements
are material.</FONT></I></P>

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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>rrd178608_22379.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>

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	<TD width=48% nowrap align=left>
<B><FONT face="serif">FOR IMMEDIATE RELEASE</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=29% nowrap align=left>
<B><FONT face="serif">CONTACT:</FONT></B>&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
<B><FONT face="serif">Brett Chiles</FONT></B>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=48% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=29% nowrap align=left>
&nbsp;
	</TD>
	<TD width=2%>
&nbsp;	</TD>
	<TD width=18% nowrap align=left>
<B><FONT face="serif">(713) 529-0900</FONT></B>&nbsp;
	</TD>
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<P align="left">
<B><FONT face="serif">EQUUS TOTAL RETURN, INC. ANNOUNCES FOURTH QUARTER DIVIDEND</FONT></B></P>
<P align="left">
<B><FONT face="serif">HOUSTON, TX &#150; November 9, 2007 &#150; Equus Total Return, Inc. (NYSE: EQS) (&#147;Equus&#148; or the &#147;Fund&#148;)</FONT></B><FONT face="serif">, in accordance with the Fund&#146;s managed distribution policy,
announced a dividend of &#36;0.125 per share for the fourth quarter of 2007. The dividend will be payable on December 17, 2007, to shareholders of record as of the close of business on November 19, 2007. Equus shares will trade ex-dividend beginning
November 15, 2007. The dividend will be payable in shares of common stock or in cash by specific election. Such election must be made by shareholders no later than December 10, 2007. If no election is made, shareholders will receive stock. Stock
issued in the dividend will be valued at the average closing market price of EQS for the ten trading days ending December 10, 2007. Cash will be paid in lieu of issuing any fractional shares.</FONT></P>
<P align="left">
<FONT face="serif">Equus is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information on Equus may be obtained from the Equus website at www.equuscap.com.</FONT></P>
<P align="left">
<I><FONT face="serif">This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund&#146;s current expectations and assumptions and are subject to various
risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund&#146;s filings with the Securities
and Exchange Commission. Actual results, events, and performance may differ.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release
publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not
constitute an admission by the Fund or any other person that the events or circumstances described in such statements are material.</FONT></I></P>

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</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
