Equus Announces Second Quarter Net Asset Value
August 13, 2010 05:17 PM Eastern Daylight Time
HOUSTON--(EON: Enhanced Online News)--Equus Total Return, Inc. (NYSE: EQS) (the “Fund” or “Equus”)
reports net assets as of June 30, 2010, of $37.9 million, a decrease of $12.3 million since March 31, 2010. Net
assets per share declined to $4.28 as of June 30, 2010 from $5.66 as of March 31, 2010. Comparative data is
summarized below (in thousands, except per share amounts):
Although the fair value of the Fund’s holdings in The Bradshaw Group, Inc., PalletOne, Inc., and certain warrant
holdings in Trulite, Inc. increased during the second quarter 2010, the overall decline in net asset value resulted
principally from the decrease in the fair values of the following portfolio holdings:
l 1848 Capital Partners, LLC (“1848”). The Fund wrote down the fair value of its loan to 1848 from $3.7
million to $1.3 million due to a decrease in results from operations and the value reflects the estimated net
liquidation value of certain of 1848’s assets and holdings.
l ConGlobal Industries Holding, Inc. (“ConGlobal”). The Fund wrote down the fair value of its holding in
ConGlobal from $8.2 million to $7.3 million due to a decrease in trailing 12 month operating results.
l Equus Media Development Company, LLC (“EMDC”). The Fund received a repayment of capital of
$1 million from EMDC on June 24, 2010. The Fund also wrote down the fair value of its holding in EMDC
from $4.0 million ($5 million in the prior quarter) to $1.7 million. The value of individual properties held by
EMDC, a wholly-owned subsidiary of the Fund, has been discounted to reflect the current status and holding
period of these properties which, in some cases, exceeds three years.
l Infinia Corporation (“Infinia”). The Fund wrote down the fair value of its holding in Infinia from $0.7
million to $0 due to decreased operating results and liquidity of the company which has not yet fully
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