H4 Extension+ EAD extn and CoS H4-H1B simultaneously, impact on child's H4 extn

[Suma81]

Hi,

I have filed for H4 and H4 EAD extension, and child's H4 extn as my co-applicant in August along with my husband's H1 extension in premium processing. My husband got H1B extension approval, but mine and child's H4 Extension still pending with USCIS. Our I-94 expired on Oct 2nd.

Mean while my employer applied for my H1B in premium processing on Oct 15th. Now my both applications are processing simultaneously.

I have few doubts in this situation, please clarify.

1. If I get my H1B approval, will I get new I-94 along with it, as we applied after the expiry of my I-94. 

2. Do I have to leave US and come back with H1B visa stamped

3. If I got H1B approval, then what will happen to my H4 extn application.

4. Will my child's H4 Extension application still be processing normally after I get H1B approval

Please suggest