-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 EKrMG4ORkiTCenI02ID/5w==

<SEC-DOCUMENT>0000930413-10-006233.txt : 20101223
<SEC-HEADER>0000930413-10-006233.hdr.sgml : 20101223
<ACCEPTANCE-DATETIME>20101223160428
ACCESSION NUMBER:		0000930413-10-006233
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20101220
FILED AS OF DATE:		20101223
DATE AS OF CHANGE:		20101223

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQUUS TOTAL RETURN, INC.
		CENTRAL INDEX KEY:			0000878932
		IRS NUMBER:				760345915
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0604

	BUSINESS ADDRESS:	
		STREET 1:		EIGHT GREENWAY PLAZA
		STREET 2:		SUITE 930
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046
		BUSINESS PHONE:		7135290900

	MAIL ADDRESS:	
		STREET 1:		EIGHT GREENWAY PLAZA
		STREET 2:		SUITE 930
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77046

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUUS II INC
		DATE OF NAME CHANGE:	19970422

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mobiquity Investments Ltd
		CENTRAL INDEX KEY:			0001473670
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00098
		FILM NUMBER:		101272395

	BUSINESS ADDRESS:	
		STREET 1:		19105 36TH AVENUE WEST
		STREET 2:		SUITE 213
		CITY:			LYNNWOOD
		STATE:			WA
		ZIP:			98036
		BUSINESS PHONE:		800-262-1633

	MAIL ADDRESS:	
		STREET 1:		19105 36TH AVENUE WEST
		STREET 2:		SUITE 213
		CITY:			LYNNWOOD
		STATE:			WA
		ZIP:			98036

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Versatile Systems Inc.
		CENTRAL INDEX KEY:			0001473683
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00098
		FILM NUMBER:		101272394

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 910
		STREET 2:		355 BURRARD STREET
		CITY:			VANCOVER
		STATE:			A1
		ZIP:			V6C-2G8
		BUSINESS PHONE:		604-683-2915

	MAIL ADDRESS:	
		STREET 1:		SUITE 910
		STREET 2:		355 BURRARD STREET
		CITY:			VANCOVER
		STATE:			A1
		ZIP:			V6C-2G8
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c63695_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-12-20</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000878932</issuerCik>
        <issuerName>EQUUS TOTAL RETURN, INC.</issuerName>
        <issuerTradingSymbol>EQS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001473670</rptOwnerCik>
            <rptOwnerName>Mobiquity Investments Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>19105 36TH AVENUE WEST</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 213</rptOwnerStreet2>
            <rptOwnerCity>LYNNWOOD</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001473683</rptOwnerCik>
            <rptOwnerName>Versatile Systems Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>SUITE 910</rptOwnerStreet1>
            <rptOwnerStreet2>355 BURRARD STREET</rptOwnerStreet2>
            <rptOwnerCity>VANCOVER</rptOwnerCity>
            <rptOwnerState>A1</rptOwnerState>
            <rptOwnerZipCode>V6C-2G8</rptOwnerZipCode>
            <rptOwnerStateDescription>BRITISH COLUMBIA, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-12-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2560</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.37</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>959462</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-12-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>2.39</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>962962</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reported shares are held directly by Mobiquity Investments Limited (&quot;Mobiquity&quot;).  Mobiquity, a Washington investment
 holding company, is a wholly owned subsidiary of Versatile Systems Inc., a Canadian corporation.</footnote>
    </footnotes>

    <remarks>Exhibit List</remarks>

    <ownerSignature>
        <signatureName>/s/ Fraser Atkinson</signatureName>
        <signatureDate>2010-12-22</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Fraser Atkinson</signatureName>
        <signatureDate>2010-12-22</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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