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The Ferret is attacked by a gang of ninjas while he is in a Chinese restaurant in Washington, DC. One of the ninjas throws a bomb in the restaurant to take out the Ferret with no regard to his comrades. While the Ferret recovers from the concussive grenade blast, he thinks back at what brought him to that fight. His childhood friend and former bandmate works at the restaurant and tells the Ferret that a criminal gang called the Purple Dragons are demanding more money in a protection racket. Since his friend refused to pay, the gang has been giving him threatening phone calls. Ferret's friend says he'll handle it, though. When the Ferret leaves, he hears a van squeal in front of the restaurant and the Purple Dragons kill his friend. The Ferret recovers from the grenade and rises to find the Iron Skull standing before him. They fight, with the Ferret realizing that the Iron Skull was once the hero of the same name and is now a cyborg. However, Iron Skull gains the advantage and gets away with the Purple Dragons. The Ferret tracks them down to their headquarters where everyone is gathered, including their boss. The Ferret demands a rematch against the Iron Skull and the boss allows it, even being so proud as to reveal the weakness of the Iron Skull, which is along its spine. He further explains that one device on his spine, if destroyed, will free his mind. If any other device on his spine is destroyed, he will die. They fight for some time and the Ferret deduces the proper mechanical device. Iron Skull and Ferret then fight the combined might of the Purple Dragons as their boss tries to get away. The duo are able to defeat their foes but the Iron Skull pledges to destroy every Purple Dragon in the world. Ferret offers some help, but the Iron Skull refuses and tells Ferret he has to do it on his own. After Iron Skull leaves, Ferret calls his teammates of the Protectors to arrest all the Purple Dragons that were defeated.