Due to Obadiah Stane's actions, Stark International began losing foreign contacts and thus fell into heavy debt. Tony Stark relapsed into alcoholism and was defeated by Magma. It was then that James Rupert “Rhodey” Rhodes first donned the Iron Man armor and defeated Magma. Stark proposed to Rhodes to take his place as Iron Man as both his company and personal life were in disarray.
This was another impressive cosplay from the Oh No! Manga OCTO CON 2 because of all the lights and moving parts in his armor. He even had the sound effects to go with his catwalk! I just hope the cosplayer didn’t have a hard time, since it must be pretty hot under all that armor.
Source: 黑火子 ~Kurohiko