Appearing in 1st story
- Mary Jane Watson
- Carlie Cooper
- Horizon Labs
- Captain Yuriko Watanabe
- Daily Bugle
- Lady Gaga (Mentioned) (Topical reference)
- New York City
- Spider-Man's Web-Shooters
- Spider-Man's Suits
- Hobgoblin's Jetpack
- Hobgoblin Armor
- Giant Tuning Fork
Synopsis for 1st story
The Hobgoblin is about to decapitate Spider-Man, but Bella uses his MP3 player to play a song. This counter's Hobgoblin's laugh, allowing Spider-Man to move again. Spider-Man then advises everyone to escape the building while he pursues the Hobgoblin. Chasing the Hobgoblin into Sanjani's lab, Spider-Man discovers that Hobgoblin is trying to steal the reverbium, the new metal Sanjani has been working on. Spider-Man tries to fight the Hobgolin with a large tuning fork, but he is still weakened by the Hobgoblin's laugh, allowing the Hobgoblin to defeat him and escape with the reverbium.
With the Hobgoblin gone, the people return to the building. Peter takes off his costume and places it in his black box. Just as Max Modell comes in, he finds Peter in his underwear, listening to music with his headphones. Peter claims he didn't hear anything. Max accepts this and leaves.
Meanwhile, the Hobgoblin returns to the Kingpin's lair. The Kingpin and Montana find out that the Hobgoblin is not Roderick Kingsley. However, the Kingpin decides to keep the new Hobgoblin, saying that he never liked Kingsley.
In Horizon Labs, Max Modell orders the remaining reverbium samples to be destroyed, much to Sanjani's chagrin. Peter asks Sanjani if reverbium can be destroyed and she answers that the only thing that can destroy it is antartic vibranium, the anti-metal. Peter then calls Black Cat through an encrypted phone and tells her that he needs her help to steal back the reverbium the Hobgoblin stole from Horizon Labs. Black Cat accepts. Also, Peter then tells her that he will be ready when he fights the Hobgoblin again.
Phil Urich returns to the Daily Bugle. He then shows Norah Winters and Ben Urich the video of the new Hobgoblin in his camera. Norah tells Randy Robertson about this and they kiss, much to Phil's chagrin.
Meanwhile, Peter is working in his lab when Carlie and Mary Jane come in and bring some food to Peter. They eat and talk about their plans, when Peter recieves a call from Black Cat, who tells her that she has interrogated a goblin gangbanger. Black Cat says to Peter than the buyer for the reverbium is the Kingpin. He is keeping the reverbium on his building.
Unknown to Black Cat, Hobgoblin kills the thug she just interogated earlier.
Black Cat reaches the Fisk Building and she finds a pair of goggles left by Spider-Man. She puts them on and sees Spider-Man wearing a new suit. He tells her that his new suit can warp light and sound, making him invisible and immune to sonic attacks. Spider-Man then says they have the element of surprise.
Appearing in "The Final Lesson"
- Spencer Smythe (Main story and flashback)
Synopsis for "The Final Lesson"
Mach-5 appears on The Raft to serve as an escort to a Professor Eli Flosom who has come to visit Mac Gargan. After passing the security station, Flosam confirms that due to the removal of the Venom Symbiote, Gargan is dying as a result of his genetic mutation without the symbiote to keep it in check. When his request to move Gargan to his private laboratory is denied, the Professor reveals himself to by Alistair Smythe in disguise as the Spider Slayer who had killed the real Flosom. He is able to defeat Mach-5 and the guards and takes Gargan with him to his secret lair to operate on him and provide him with a new Scorpion suit.
To face off against an amped-up HOBGOBLIN, you need an amped-up SPIDER-MAN! What's the story behind Spidey's NEW SUIT? What is it and what can it do? Meanwhile, MACH 5 (from THE THUNDERBOLTS) faces off against one of Spidey's deadliest foes! All this, and a secret side mission for THE BLACK CAT. Plus an additional 8 page story: We showed you who was behind the HOBGOBLIN'S mask last issue. But what were they up to BEFORE their startling return? Here's where you find out!