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Billy Corgan wrote in his account of twitter about the project early finish Teargarden By Kaleidyscope and also the future of the band to be announced in the new account (revealed by himself in his twitter) on facebook. Let's hope one of his usual jokes.

According to the site appeared in the United Hipsters , all this is unclear, some clues indicate that is true as Billy has promised new plans with the band. However, statements in the facebook even named the other members leaving several questions. On the other side Wikipwdia page dedicated to Corgan and abandoned projects is not included the latter production.

On the other hand note that the message of twitter was deleted.

At the moment this is a rumor and not confirmed until you have an official version.