{"schema_version":"secwatch.filing_event.v1","accession":"0001712543-26-000026","form_type":"8-K","ticker":"EQS","cik":"0000878932","company_name":"EQUUS TOTAL RETURN, INC.","filed_at":"2026-04-22T23:59:59+00:00","discovered_at":"2026-05-14T18:02:33.851731+00:00","generated_at":"2026-05-15T04:59:58.432963+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 reports Q4 2025 NAV of $1.19/share, down 37% from Q3","bullets":["Net assets $16.6M as of Dec 31, 2025, down from $26.5M at Sep 30, 2025.","NAV per share fell to $1.19 from $1.90, a 37% decrease.","Fair value of Morgan E&P decreased by $12.35M due to lower oil forward curve and reserve elimination.","Fair value of CitroTech holdings increased $1.6M to $6.8M; CITR shares traded at $8.08 as of Dec 31."],"urls":{"canonical":"https://secwatch.observer/filing/0001712543-26-000026","json":"https://secwatch.observer/filing/0001712543-26-000026.json","markdown":"https://secwatch.observer/filing/0001712543-26-000026.md","text":"https://secwatch.observer/filing/0001712543-26-000026.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/878932/000171254326000026/0001712543-26-000026-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/878932/000171254326000026/f8k_equus4222026.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T04:59:58.432963+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"}