Design a Logo

I am developing a new company called "glofaom" I have attached a photo of the product that I will be selling. To give you an idea the product that I will be marketing it is a Led foam wand that lights up when turned on. When light at night the led lights allow the foam wand to glow and change colors. What I need is to create a font for "glofoam"and also a logo to go with. I like things very clean, simple put looks very professional and give the name and logo a corporate identity. I am open to ideas. I got the word "glo" form glow and "foam" cause the product is made from foam. "glofaom" I will be using the name both for marketing as well as creating a website so the logo as well as the name of this very small company will be used a lot for branding as well as on t-shirts and so on. I have a very low budget on this project cause I have very little funds. $30-40 I think is fare for this project. If you decide to create the font and logo and I like what I see I will chose you as the winner. Keep in mind I like very clean and professional logos and fonts. Simple put give it a corporate identity Thanks. I have attached a photo of the product just to get a visual idea.