My Chemical Romance Form New Band?

My Chemical Romance have recorded a new EP (to accompany the deluxe edition of their forthcoming new album, 'Danger Days: The True Lives of the Fabulous Killjoys'') under the moniker of Mad Gear And Missile Kid.

Frank Iero made the following statement when speaking to MTV News:

"Well, it's us, but playing as this band Mad Gear and Missile Kid from the (Danger Days) world. It's basically what the Killjoys are listening to in the car as they're having those gun battles."