{"schema_version":"secwatch.filing_event.v1","accession":"0001712543-25-000018","form_type":"8-K","ticker":"EQS","cik":"0000878932","company_name":"EQUUS TOTAL RETURN, INC.","filed_at":"2025-04-11T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.558021+00:00","generated_at":"2026-05-23T16:42:54.935642+00:00","sec_items":["8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Equus Total Return Q4 NAV drops to $2.17 per share from $2.96; issues convertible note, invests in GEVI","bullets":["NAV per share $2.17 as of Dec 31, 2024, down 27% from $2.96 on Sep 30, 2024.","Fair value of Morgan E&P decreased $6.0M to $13.0M; Equus Energy decreased $4.0M to $4.0M.","Issued 1-year 10% convertible note for $2.0M cash, convertible at $1.50/share, plus warrants for 2M shares at $1.50.","Invested $1.5M in GEVI 10% convertible note convertible at $0.40/share, plus warrants for 1.875M shares at $0.50.","Sold Equus Energy on March 3, 2025 for $1.25M cash and $2.75M redeemable preferred shares."],"urls":{"canonical":"https://secwatch.observer/filing/0001712543-25-000018","json":"https://secwatch.observer/filing/0001712543-25-000018.json","markdown":"https://secwatch.observer/filing/0001712543-25-000018.md","text":"https://secwatch.observer/filing/0001712543-25-000018.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/878932/000171254325000018/0001712543-25-000018-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/878932/000171254325000018/f8k_equus4112025.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T16:42:54.935642+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}