Hi rooboy – yes that is correct. I submitted both because it shows the versatility of the design.
A logo must be successful in several colour variations. Your logo needs to be able to work well as one-colour, two colour and full colour. Along the line somewhere you will be restricted in terms of print colours – promotional products such as pens and other items are usually restricted to a one or two colour print whilst web and digital printing such as business cards and letterheads obviously allow your logo to be full colour (with gradient).
I have added a one colour version for you (
#72). Most of the corporate world uses a simplified one-colour version of their logo for watermarks, embroidery, etc.