This issue of Untold Tales Of Spider-Man throws the reader right in the middle of action, as Spider-Man is fighting a group known as the Spacemen atop a building in Manhattan. Lieutenant Colonel John Jameson is narrating the story in the beginning, as he is taking pictures of the battle from afar. Spider-Man is doing more than hold his own against the super-powered villains that consist of Gantry, the large powerhouse type fellow that all groups have. Satellite, a man who can throw laser blasts. Orbit, a woman with the power of flight and the ability to create an orbital relationship between herself and any object she chooses. Lastly, Vacuum, whose lifeless and airless body can suck people and things inside himself. Spider-Man throws Gantry, their leader into Vacuum's body, throwing the entire team into disarray. Satellite ends the party by blasting his lasers until the building comes crashing to the ground. After Spider-Man recovers from the debris, the Spacemen are long gone. Just who are these Spacemen anyway?

Jameson now visits his father, Daily Bugle publisher J. Jonah Jameson at the offices of the Daily Bugle, where he has shocking news for his father: NASA is considering making Spider-Man an astronaut, and John has been observing him for awhile now. Jonah is not happy at this news as he will forever think that Spider-Man is a criminal. The young Jameson has a pretty good psychological profile on Spider-Man already and they continue to talk until secretary Betty Brant interrupts them with some news from Frederick Foswell is reporting concerning the Spacemen. The Spacemen are holding a press conference where they are introducing themselves to the public. They go on to explain that they were part of a secret government task force that launched a special satellite into orbit around earth. The satellite absorbed great amounts of radiation from the cosmic ray belt and transmitted it back down to earth where they were blasted by the rays similar to the Fantastic Four. Also similar to the Fantastic Four, they all gained super powers. They state that their first mission is to apprehend Spider-Man, which makes a fan out of Jonah when he hears that, and backs them publicly in his paper.

Over the next number of days, the Spacemen and Spider-Man battle it out, but it seems that the battles are being masked to cover a series of robberies that are occurring at the moments in time. Witnesses are giving contradictory accounts as to what really happened at these battle fests. The young Jameson begins to think to himself "Are the Spacemen running a scam?" With the publics backing of the Spacemen, it seems they have free ground to do as they please, and they are taking advantage of it. Back at the Bugle, Peter delivers some pics of Spider-Man to Jonah, and John Jameson begins to wonder how Peter has taken all these pictures of Spider-Man. Peter asks for the next the next Friday off so that he and Betty can go out. Jonah obliges, but "gets them into" the event of the year that night: Jonah's latest anti-Spider-Man lecture!

Next we see that Spacemen have made it big in the eyes of the public, as they are given a ticker-tape parade down fifth avenue. Look fast! you will see Gwen Stacy and Harry Osborn make a quick cameo in the crowd before they were formally introduced in Amazing Spider-Man #31. Captain George Stacy also makes an appearance there as well at the side of J. Jonah Jameson. Everything seems to be going well until Spider-Man comes swinging out of nowhere surprising the Spacemen greatly. As they battle once again, he explains to them that he has created a device that tapped into their scrambled radio signals. From the device, Spider-Man has learned that the Spacemen will use the parade as a "getaway" and he also knows where they stashed the money they stole. With this information, Gantry orders plan "S" to the rest of the team, meaning that they forced him into Vacuum where they continue their battle. As Spider-Man is flung into orbit inside of Vacuum, he has no air to breathe, so it's only time until he suffocates. His last grasp was to shoot his webbing at Satellite, making himself orbit around Satellite with great velocity. Spider-Man gets to a point where he is going at "escape velocity" and frees himself from Vacuum, and into Gantry and Orbit. They crash into the float they were traveling on in the parade, completely destroying it revealing loads of cash that was stuffed inside it.

The public now sees the truth concerning the Spacemen and they turn on them very quickly, seeing them as the crooks now. The police take them away, and we also learn that the Spacemen lied about how they obtained their powers. They were, in fact, ex-space program employees who used inside information to steal meteor samples that John Jameson brought back from a space mission. These meteor gave off an alien gas giving them their powers. Also, the younger Jameson informs the elder Jameson that NASA has scrapped the idea of making Spider-Man an astronaut. Another excellent issue containing characters that have to appear again in a comic, the Spacemen. They have some potential, and are ripe for a comeback if used properly.