8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  June 25, 2010

EQUUS TOTAL RETURN, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	814-00098	76-0345915
(State or Other Jurisdiction	(Commission File	(IRS Employer
Of Incorporation)	Number)	Identification No.)

Eight Greenway Plaza, Suite 930, Houston, Texas	77046
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code:  (713) 529-0900

N/A

 (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-k filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01         Other Events.

On June 30, 2010, Equus Total Return, Inc. issued a press release announcing the collection of amounts owed to the Fund by Trulite, Inc. in respect of a defaulted promissory note issued by Trulite to the Fund. The text of the press release is included as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

Item 9.01          Financial Statements and Exhibits.

(d) Exhibits.

99.1           Press release issued on June 30, 2010 by Equus Total Return, Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Equus Total Return, Inc.

Date:  June 30, 2010                                                                             By:  /s/ L’Sheryl D. Hudson                                                       0;         

Name:  L’Sheryl D. Hudson

Title:    Vice President and Chief Financial Officer

EX-99.1

Contacts:

Jamie Tully/Jonathan Doorley

Sard Verbinnen & Co

(212) 687-8080

EQUUS COLLECTS $2,604,132 FROM TRULITE

Fund Collects all Principal, Interest, and Collection Costs Owed

and Retains Warrants

HOUSTON, TX – June 30, 2010 – Equus Total Return, Inc. (NYSE: EQS) (“Equus” or the “Fund”) today announced that it has received $2,604,132.07 in cash from Trulite, Inc. (“Trulite”) as payment in full against a certain convertible promissory note (“Note”) issued by Trulite to the Fund in the principal amount of $2,307,391.  Trulite defaulted on the Note in January 2010 and the Fund commenced legal action on April 22, 2010 to recover amounts owed thereunder.  The Fund has cancelled the Note in full satisfaction of payment and retains certain warrants to acquire shares of Trulite stock that it received in connection with the initial investment in Trulite.

“We are taking steps to collect obligations owing to the Fund in an effort to monetize existing holdings wherever possible,” stated John Hardy, Executive Chairman.  “We are pleased that we have recovered funds from Trulite, which will enhance the Fund’s cash position.”

About Equus

The Fund is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS". Additional information on the Fund may be obtained from the Fund’s website at www.equuscap.com.

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund’s filings with the SEC. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurr ence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statements are material.