Flag-Smasher; ULTIMATUM; Commission of Superhuman Affairs [Raymond Sikorsky; Douglas Rockwell; Valerie Cooper; General Haywerth (?)]; President Ronald Reagan; Red Skull (in shadows); Captain [Steve Rogers]; Battle Star [Lemar Hoskins]
Flag-Smasher has found out who the secret backer behind ULTIMATUM is. But this turns the organization against him and he flees to a North Pole base. Cap and Battle Star are sent after him.