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The issue begins with Darkhawk crashing through the office window of Philippe Bazin. Several armed guards try to shoot Darkhawk, and much to his surprise, he manages to generate a energy shield that deflects bullets. Bazin applauds Darkhawk’s entrance, and informs Darkhawk that he can pay him whatever money he needs to go and save the world, if he would just share the secrets of his power of becoming Darkhawk. Darkhawk, less than impressed, throws Bazin out the window and grabs him at the last moment with a retractable claw from his forearm. Bazin is visibly shaken by his near death experience, when Darkhawk warns him that he will be watching his every move, and he will hound him at every turn he takes, until Bazin gets out of town and leaves innocent people alone. Darkhawk throws Bazin back into his office and is about to take off when he’s suddenly attacked by none other than Hobgoblin!
Darkhawk immediately recognizes who he is, having seen him fight Spider-Man on the news on more than one occasion. He gets the upper hand on Hobgoblin – or so he believes – until he realizes that Hobgoblin is faking and grabs for the Darkhawk crystal in his chest. Darkhawk blasts him and sends him spiraling downward. But the Hobgoblin does not stay down for long; as he comes back around and hits Darkhawk with several pumpkin bombs. Darkhawk crashes into an alleyway, and much to his surprise, finds his armor bleeding green blood. Changing back to himself, Chris is surprised to find himself uninjured despite the bleeding armor. Hobgoblin suddenly appears and Chris tells Hobgoblin that Darkhawk took off in the opposite direction. Hobgoblin quickly takes off in that direction.
At home, Grace tells Chris to watch over Jonathan and Jason, and not to take off with friends like he did last time. Jason reads an article in the newspaper about how Mike Powell is on the take and a dirty cop; this upsets Jonathan who begins fighting with his twin brother. Chris is, once again, forced to break up the fight between them. While looking out the window, Chris sees Hobgoblin and thinks he’s headed for the house; but the Hobgoblin turns at the last moment and heads for Wonderland. That’s when Chris sees Spider-Man chasing Hobgoblin. The two begin fighting in Wonderland, and without realizing it, cause damage that traps two homeless men who were taking shelter at Wonderland beneath a pile of wood. Chris tells the twins to stay there, and runs out to help as himself rather than Darkhawk, freeing the two homeless men. Even as Chris’ frees the homeless men from the rubble, Hobgoblin manages to land a lucky strike on Spider-Man. Chris is forced to change into Darkhawk and goes to Spider-Man’s aid. Darkhawk and Hobgoblin battle briefly, allowing Spider-Man the chance to recover. Spider-Man leaps back into the battle and manages to knock Hobgoblin for a loop. Hobgoblin escapes by blasting Darkhawk in the face, temporarily stunning him.
Spider-Man questions Darkhawk’s methods, since he heard about Darkhawk throwing Bazin out his office window. Spider-Man tells Darkhawk that every action has a consequence and he should think of those consequences before he acts on his impulses.