ACT 1: The issue starts with Norman Osborn reminiscing about a childhood experience where his father taught him a lesson about fearing darkness by forcing him to stay alone overnight in a dark family mansion. Although petrified beyond belief, the young Norman Osborn survived the ordeal and now, years in the future, wishes he had had the opportunity to thank his father for teaching him such a valuable lesson. Holding up a small spider that he picked up from the ground, Norman Osborn enters the mansion once again and the door closes behind him.

ACT 2: Randy Robertson and Gloria Grant are out on a date when they are attacked by the new Green Goblin. They manage to evade the ruthless miscreant who retreats clumsily, hitting a light post.

ACT 3: Later at the apartment that Peter Parker shares with Randy Robertson, Peter wakes up from a strange dream involving his deceased parents and the role they could have played in his life, and the significant roles that Ben, May and Mary Jane have played thus far. Peter hears Randy screaming in the other room so he heads in there to see what is going on. Randy is on the phone with the police to inform them that he and Gloria have just been attacked by the Green Goblin but the police are unresponsive and believe that Randy has been drinking and is just making up this story. They hang up on him. Furious, Randy slams the phone down hard on the table; Gloria comes over and comforts him, telling him that it is going to be okay. She turns over to ask Peter what he thinks of all this but he is already gone, as Spider-Man in pursuit of this new Green Goblin.

ACT 4: Spider-Man realizes that the Green Goblin.s next target may be the offices of the Daily Bugle so he heads over there. However, he arrives too late. The Goblin has already rampaged the place, leaving behind mayhem and many injured people. He then heads over to the other side of town, at the penthouse apartment of Liz and Normie Osborn. There he finds little Normie, sitting motionless in front of a window. Spider-Man asks him what he is doing there. Normie replies that he is waiting for his dad, Harry, to return; and that since his grandfather, Norman, always comes back, then he knows his father will surely come back too. Spider-Man asks Normie if he has seen his grandfather lately. Normie replies that he has, and that he believes his grandfather may know where Harry is. He then asks Spider-Man if he will wait there with him for his father to return. Our hero accepts. All this time, they are being watched by Norman Osborn, hidden in the shadows with binoculars.

ACT 5: In order to ease his mind, Peter heads over to Aunt May, where he is fed; and then goes to bed. Again, he has a strange dream and awakens, a short time later, on the bedroom floor. He hears the sounds of sirens and looks out the window. In the distance he sees smoke rising above the tree line. He suits up and heads over there. He arrives on the scene only to discover that the house burning up is Arthur Stacy.s house. Arthur and his daughter Jill, a friend of Peter, are both safe, being helped by the paramedics. Arthur tells the police that it was the Green Goblin who attacked them and that his son Paul is still in the burning house. Spider-Man who overheard the conversation wastes no time and heads into the burning house, where he finds Paul trussed up and booby-trapped with a pumpkin bomb. Spider-Man temporarily neutralizes the bomb and sets out to leave, holding Paul in his arms. The place blows up. All present fear that both Spider-Man and Paul have perished in the blast, however, Spider-Man emerges from the wreckage, holding the limp body of Paul in his arms. He hands him over to the paramedics and web-slings away. All this time, Norman Osborn is still watching him from a distance.

ACT 6: A short time later, Peter heads home to clean up before going back to track down the Goblin. He is brushing his teeth when he suddenly realizes that the toothpaste has been drugged. He falls to the floor unconscious.

ACT 7: When Peter regains consciousness, he is being held by Norman Osborn, who tells him that he needs to teach him about the darkness the same way he was thought by his own father when he was a young boy. He also refers to Peter as his son. Peter faints and starts having more strange dreams about his troublesome past. Meanwhile at the residence of Liz and Normie Osborn, Normie is suddenly awaken from his sleep. As he looks out the window, he sees the Green Goblin hovering on the other side of the window, staring at him.

ACT 8: Peter, now in costume, awakens inside the darkened mansion seen at the beginning of the issue. Norman's voice is heard, taunting him to adopt his way of thinking. Our hero, relying on his spider-sense makes his way out of the darkness, evading several booby traps, towards a door from which the light shines. Norman urges Spider-Man not to walk towards the light but our hero refuses to listen to Norman and grabs hold of the door...only to receive a massive electrical discharge that courses through his body and renders him unconscious.

ACT 9: A short time later, Norman has taken Spider-Man outside of the mansion. As our hero slowly regains consciousness, Osborn bends over and puts a Goblin mask over his head (i.e. Spider-Man's head). He then reveals to Spider-Man that it was he, Spider-Man, who was recently running around in the Goblin costume terrorizing his friends and loved ones. Norman grabs our hero and pulls him back into the mansion. To be continued in Peter Parker Spider-Man Volume II #25.