Equus Q4 NAV $3.55; Morgan E&P fair value up $7.6M, Equus Energy down $5.5M

EQUUS TOTAL RETURN, INC.

2025-Q1 EPS reported -$0.17

Net assets $48.3M as of Dec 31, 2023; NAV per share $3.55 vs $3.49 prior quarter.
Morgan E&P fair value increased $7.6M to $22.6M due to successful drilling and production.
Equus Energy fair value decreased $5.5M to $10.0M due to uneconomic gas reserves.
Shares outstanding 13,586 as of Dec 31, up from 13,518.

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