Equus Announces First Quarter Net Asset Value

Core Viewpoint - Equus Total Return, Inc. reported a decrease in net assets and net asset value per share as of March 31, 2024, alongside operational developments in its subsidiary Morgan E&P, LLC [1] Financial Summary - As of March 31, 2024, net assets were $45.9 million, down from $48.3 million as of December 31, 2023 [1] - Net asset value per share decreased to $3.38 from $3.55 over the same period [1] - The number of shares outstanding remained constant at 13,586 [1] - Comparative net assets over the last four quarters show a steady increase from $34.1 million in March 2023 to $45.9 million in March 2024 [1] Operational Developments - Morgan E&P, LLC acquired 5,897.52 net leasehold acres in the Bakken/Three Forks formation and began production on two wells drilled in Q4 2023 [1] - Morgan's debt increased by $2.2 million during the first quarter of 2024 [1] - The fair value of Morgan decreased by $1.35 million to $21.25 million due to various qualitative and quantitative factors [1][2] Valuation Support - The Company utilized a third-party valuation firm to assist in determining the fair value of its investment in Morgan [2]