Logo for worm hole brand

I have been working on a low quality logo, but need it in Adobe Illustrator Format so I can use it on both our website and print (can be easily resized without loosing quality)

Worm Hole

I have an existing low quality logo from a long time ago, and need someone to convert it into a Adobe Illustrator file.

It is basically two colored circles in on another and two clear (any bg should shine through) cutouts (in the example white).

http://www.wormholetech.com/wormhole.png

- I want the logo in one color - Red and Clear AND White and Clear. -
- In addition one gradient based logo - perhaps embossed type. and one plain flat version
- The logo needs to be vector based so it can be blown up very large but also used for the web etc.
- Under a 45 degree angle pointing down right (as example)
- One version pointing down.
- Not required, but if you feel like putting some text next to it - "WormHole Tech", I would be happy to see what you can come up with - when it's looking great it will add additional points that I will take into account when choosing my final candidate.

- The white background in the example needs to be clear and not white. So I can use the logo in its white form on various backgrounds