Equus Total Return, Inc. (the Fund or EQS) is a business development company that provides financing solutions for companies. EQS expects to invest in businesses such as medical technology and services directed toward an aging population, real estate developments positioned to benefit from an increase in the number of retirees, leisure time and family entertainment industries and subsets of the energy sector developing renewable and alternative sources of energy. The Fund’s registered investment adviser, Moore, Clayton Capital Advisors, Inc. (the Adviser), manages its portfolio and provides access to investment opportunities throughout the United States and internationally. The Adviser is a group company of MCC Global (MCC), an international investment advisory firm that holds 10% of the Fund’s common stock as of December 31, 2008.