Having L1Visa. Applied H1B - Consular Option

[Senthu1231]

Could you please advise on the below?

I'm having L1B Visa and my company applied for H1B visa. If it is picked in lottery and get approved then what will be happen?

My new H1B visa only valid if I go out of USA and return back?
My L1B visa have to be stamped - IF I travel during this process will it be stamped?
When I'm travelling outside of USA and during this period if H1B get approved then I cant stamp L1B?

 

Please advise

[JoeF]

The company can file an H1 petition from April 1 on. It isn't yet April 1, so they can't have applied for an H1 one yet.