BIKOLOGY - incorporating image in the type

I've not had much time to spend on this brief so the development is going really slowly. I'm quite concerned that I wont be able to get it done to the standard that I want. However I did manage to sketch out some ideas and experiment a bit with imagery and type for the logo.

This is the original type that I chose to be my logo but as the last crit pointed out that I need to develop it further I decided to incorporate the bike icon using the O's as wheels and the L as the bike seat and pedal. I think it's a good initial idea but it could be pushed much further in composition.