The first letter "e" is angled, the next letter is a "L" which extends below the level of the "e", the next letter is an "i" which is positioned within the right angle created by the horizontal and vertical lines of the "L" and is at the same level as the "e", and the next two letters an "A" and a "N" are at the same level as the letters "e" and "i", and the word "water" is placed at the level of the horizontal line forming the "L" and is beneath the letters "i", "A", and "N".
ELIAN WATER