Those who read our message boards won’t be surprised that I’ve been on a Repo Man kick lately; the film screened here in Atlanta last week, and I’ve since had the soundtrack in steady rotation.

For years people have pined for a sequel; among those longing for a return was writer/director Alex Cox. Perhaps he knows his first film is his most enduring property (no lack of respect to Walker or Sid & Nancy); regardless, he’s tried more than once to get a film sequel off the ground. That hasn’t happened, so now he’s gone the direct to graphic novel route.

So Cinematical reports that the Cox-penned Waldo’s Hawaiian Holiday will drop on March 31 like a hubcap from a flying green Chevy Malibu.

Wait. Who the Christ is Waldo? What about Otto, the lovable douche played by Emilio Estevez, last seen whisking off into…somewhere…with Miller? Here’s what Alex Cox told Entertainment Weekly in an exclusive interview. We loves the CTRL-C / CTRL-V.

He’s been away on a journey in a car for 10 years and just returned. He thinks he’s only been gone for the evening. Now, he may indeed be Otto. He may have been transmogrified on the way back into Waldo. Or that may have happened to several people at the same time.

Or, if you just want it straight, this should do the trick:

Basically, everybody in Waldo is a coded version of somebody in Repo Man.

I love this idea. The flick is an amazing movie for many reasons — it’s got an actual punk spirit and killer work from Harry Dean Stanton. But it’s also rich with absurd visual detail, like the generic food containers that seem omnipresent in Cox’s version of southern California. A comic page is an ideal medium for those gags, and I hope Cox has packed them in once again.

EW’s got a multi-page preview of the graphic novel; in the future check the Waldo’s Hawaiian Holiday website for more, or check Alex Cox’s own site, where you can also read about his new movie, Searchers 2.0.