L1B to H1B conversion

[AshaMath]

Hi Experts,

Need urgent advice:

I am on L1B maxing out in DEC-2021. My L1B expired in APRIL-2021 and extension is currently under process with USCIS and I am waiting for their response. My current employer has also applied for my H1B and it got picked in the lottery this year. However my employer now mentions that they cannot file petition to USCIS for my H1B as I already have my L1B under progress with USCIS. If the H1B is not filed, I have no choice but to leave to home country end of this year.

My question is:

1) Is it legally possible to have 2 applications(one for L1B extension and one for H1B as COS) with USCIS? Or could this be my employer's policy?

2) My employer mentioned that I cannot have consular processing for H1B as my L1B is not approved for a date later than OCT-2021. Is this true? I do not have clear understanding of how consular processing would have helped in this case anyway.

I am planning to have my L1B raised to premium but if I get an RFE, I am unsure if I will be  able to get approval by H1B petition deadline ie., JUNE-2021.

Could you please advice the best way to handle this.

Thanks!