Both Entry #39 + #38 are very interesting. I love the thought of using an "Eye" to represent the "Verite" - observational documentary - part of my company. I would be very interested to see this incorporated into a logo of a lens for a camera, to add a little more personality to the logo.
I am not sure what to recommend on entry #38 yet. This is an ascetically neat and clean logo. Perhaps, instead of a "box" logo, could you place the VM within a more 16:9 'cinematic' frame?
#38 - I created square, where you can find V and M inside. Its square, because if you evber need, then you can use it as plain simple icon. Another version #40 is not so good I think.
#39 - created simple element, cause In my opinion "less is more". It represents lens anyway :)
I definitely do agree with you, that Entry #38 looks the cleanest, and I could use it as a plain, simple, stand-alone logo.
If there is any chance I could see a revision for #39 -- perhaps one where the lines for the 'eye' / 'verite media' are skinned up, and more delicate in design. Just something less bold, I suppose.