ACT 1: The story begins with Spider-Man investigating the recent theft of fragments of the lifeline tablet from the New York City Police Department evidence lock-up. The leads obtained from Arthur Stacy guide him to one corrupted cop: Billy Neuhaus. Spidey confronts Neuhaus who quickly admits to receiving a bribe from a fellow named Vinnie DeGliato. (Neuhaus had to tell the truth since Spider-Man was threatening to drop him off the roof of the building!) Satisfied with the information obtained, Spider-Man pursues his investigation.

ACT 2: Meanwhile, in Hammerhead’s home in Brooklyn, Hammerhead looks over doctor Curt Connors’ shoulder as the latter deciphers the tablet fragments. Connors tries to explain in technical terms what the additional fragments of the tablet may help accomplish alongside the original tablet. Hammerhead irritated by the mumbo jumbo utilized by Connors grabs him by the collar and orders Connor to talk in a more simplistic manner. Connors comes close to be overwhelmed by anger, which can set free the Lizard persona locked inside him, but manages to regain control by thinking about his wife and son.

ACT 3: Meanwhile, Arthur Stacy and Spider-Man meet again to discuss of the present situation. They both come to the realization that Hammerhead and Ceasar Cicero are not working together but against one another and that maybe Hammerhead has already made his move on Cicero, stealing the additional tablet fragments from him.

ACT 4: Back at the Glen Cove estate of mob lawyer, Caesar Cicero, renovations are underway to fix the damages caused by the recent attack by Boomerang on the mansion. As Eel departs to steal back the tablet fragments from Hammerhead’s headquarters, Spider-Man arrives and snags a spider-tracer on the Eel-mobile. He then proceeds into the estate, crashing through the mansion’s window and after beating both man-mountain Marko and Cicero, he begins their interrogation. Cicero confesses that Hammerhead has hired a one-armed scientist to work for him. Spidey realizes that this one-armed scientist can only be Dr. Curt Connors and that finding him has become his main objective.

ACT 5: Meanwhile, deep under the Atlantic Ocean, the mentally projected astral form of Dr. Strange, the Master of the Mystic Arts, arrives at the undersea kingdom of Atlantis. He meets with Prince Namor, the Sub-Mariner who summons Atlantean scholars, the Vizier and Archivists, to help out Dr. Strange in his knowledge journey. In the ancient tongues of the forebears – Atlantis and Lemuria – Vizier pronounces these words: “The tablet predates our seasons of prosperity, the age in which Atlantis and Lemuria were at the pinnacle of human civilization! Its Hyborean origins bespeak of ultimate power, its Lemurian translation provides the methods of achieving such a goal, manifesting itself as the evolutionary peak that humanity had to offer! The writings speak: to partake of the legacy is to dare touch the outstretched hands of tomorrow!” Dr. Strange asks Vizier if the enlightenment and immortality bequeathed by the lifeline formula would be granted equally to all who partook of it. Vizier responds: “No, to taste the liquid was but a passageway to the halls of infinity. Once in the hall of forever, an individual did as an individual could.” As Dr. Strange tries to make sense out of this, he realizes that “the players in this mad game are not of the inclination to use such power wisely and that it appears the power of a god is in the hands of whoever wields the totality of that tablet!”

ACT 6: As these words are spoken, Arthur Stacy confronts Louis Wilson and threatens him to come clean if he wants to avoid the end of the world.

ACT 7: Meanwhile, at Hammerhead’s Brooklyn base of operations, the security personnel on the roof has been doubled in size in the event of a potential attack by Cicero’s people. Unfortunately for the guards, the Eel manages to “slick” his way through them. However, his rampage is halted permanently when Spider-Man shows up and knocks him out cold.

ACT 8: Inside Hammerhead’s headquarters, Dr. Connors pursues his deciphering of the tablet fragments, under close surveillance by the criminal known as Boomerang; and as Spider-Man watches through the window from the outside. Boomerang suddenly puts a knife to Connors throat, and threatens to kill him if he double-crosses Hammerhead. A perplex Connor asks him what he’s talking about. Boomerang explains that he’s figured out that the formula contained in the lifeline tablet could surely help Dr. Connors to get rid of the Lizard persona within him, and that if this double-crossing were ever to occur, it could make him (Boomerang, not Connors) lose a whole lot of money. Connors is now struggling to keep his animal side under control so as to prevent the emergence of his Lizard persona. Spider-Man watches as the situation evolves. He’s seen the Doc change too many times not to notice the signs and his worried that Connors may turn into the Lizard very soon. As he ponders that thought, Hammerhead enters the scene.

ACT 9: Connors speaks: “Now that your sadistic lapdog is done interrupting, I can tell you that the formula has been enhanced to the best of my ability. But there are no guarantees it will work any differently on you than it originally did on Silvermane! On the other hand, due to the information from the additional fragments, this formula is radically different than the first. How you plan to use it, Hammerhead, might make all the difference in how effective it is!”

[Hammerhead] “Geez, I’d consider lettin’ you drink it yourself, Connors, if it would just shut you up!”

[Connors] “Oh, would you?”

[Hammerhead] “Hey...Connors...don’t you be thinkin’...Hey...I need that formula!!”

Spider-Man watches as the situation unravels. Doc Connors is about to drink from the beaker when Boomerang throws a boomerang at it, which shatters into pieces. At the same time, Spider-Man comes crashing through the window. Hammerhead tries to knock Spidey out by running into him headfirst but instead runs into a nearby bookshelf which gets completely torn apart. Now, too busy fighting with Boomerang, Spidey doesn’t notice that Hammerhead has stolen the book containing the formula extracted from the lifeline tablet, and is running away. He manages to apprehend Boomerang but is not provided with enough time to stop Dr. Connors to drink some remnants of the formula off the shattered beaker. As Spider-Man interrogates Boomerang so as to find out where Hammerhead is gone, his spider-sense kicks him. As he turns around, he is faced with the Lizard...