Nice Idea Dennis, and I like the fact you have used fine lines in your design to link in with the name of my company.
I am after something a bit bolder so that it stands out a little more. You might also like to try makeing the white line wavey so that it looks like water.
One idea for a little variety is to delete the circle and wave and just have the cluster of bubbles rising from the last (i) in fineline. The dot on top of the (i)could be one of the bubbles.
If you think this would look ok please feel free to submit it .
I am getting a couple of friends to vote on their favorite logo so everybody still has a chance.