I think the first version is very interesting but the second one is keeping with the typeface better. Cool stuff.

Helvetica has ligatures?! Hahah..this is a good idea, though I'm not fond of Helvetica.

Usually, ligatures had not worked well with sans faces, but yours is a cool try, even when it's heretic.
I agree with Nachos on preserving font consistence.
Anyway, I find some quirk effect in the encounters.
Probably they needs to be softened.
Let me show you some quick experiments I did on it, though some are very obvious and not well spaced (counterforms are unbalanced):

MarS

Thanks for the comments, and for experimenting with me!

Maybe try this:

The arrows show curve problems.
Left one: acute joins like this need to be thinned.
Right one: too thick on the inside.

hhp

Agreed..it would probably have to be optically corrected. Any other possible combinations?

I've always wanted to do Helvetica Swash...

I’ve always wanted to do Helvetica Swash...

You're aware of Phil Martin's Helvetica Flair? (I want that.)

@ Altaira:

I didn't know, thanks!

WHOA..that is some interview and even more interesting fonts! Hahah..Helvetica Flair!

what about the relationship between the r and t? I've always thought this was an awkward connection. What are your thoughts? These are some very quick ideas:

I like the last idea with the left side of the t subtracted.

same here..seems very clean.

{This used to be two posts higher - editing brought it down.}

The lack of a rightward foot serif on the
"r" is one of the ways that sans fonts suck.

hhp

The last of those (Michael's, not Hrant's) arts is reminiscent of the ‘Computer Arts' magazine logo...

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Ever since I chose to block pop-ups, my toaster's stopped working.

Neat, I like their style.