Following an attack by Hydra at a carnival, Captain America's bullet riddled uniform is pulled out of the water leaving everyone to believe that Captain America is dead. At Avengers Mansion, Iron Man arrives home to the tragic phone call. Once he has been told the sad news, he goes to the secret records of the Avengers and prepares a final statement to close the file on Captain America.

Talking of Captain America's exploits during World War II, Iron Man fondly recalls how Cap and his partner Bucky frequently clashed against the Red Skull, and one story in particular when Cap and Bucky foiled the Red Skulls plot to use a giant power drill. He also recalls his clashes with villains such as the Butterfly[1], the original Circus of Crime[2], the Unholy Legion of Beggars[3], White Death[4], and the Toadman[5]. Iron Man next recounts the time during the final days of World War II when Captain America and Bucky attempted to stop Baron Zemo from launching a drone plane to attack England. Although they would succeed in their mission the resulting explosion would seemingly kill Bucky, and send Cap into the freezing waters below where he would end up in suspended animation until recent times when his body would be recovered by the Sub-Mariner[6].

Iron Man would remark about how upon Cap's return as America's premiere hero, he would forge alliances with SHIELD, making friends with both Nick Fury and falling in love with Sharon Carter>[7]. He would clash with new menaces such as AIM And MODOK[8], the Fourth Sleeper[9], Batroc the Leaper[10], the Tumbler[11], the Swordsman the Living Laser[12], the Red Skull's Exiles[13], the Trapster[14] and lastly Dr. Faustus[15]. He notes them all and that Cap fought valiantly until the the end when he was seemingly killed by agents of Hydra. With his recording done, Iron Man salutes a picture of Captain America, wishes his friend to rest in peace and vows to avenge his death.