H1 to H4 and Back to H1

[sv87]

I am on my extended H1B which expires Oct’17. My current employer is unable to do my Green Card, and I have a few prospective jobs I am working on, and they are able to do my GC. A few questions as it relates to this situation below:

1.      If I quit my current job today and move to an H4 visa, and say I got offered a job where they will do my visa, can you confirm the following:

a.      I can get back on to H1B and use up the remaining time I have left before my i-140 gets approved?

(OR)

b.      Do I lose H1B that is remaining and have to wait until i-140 gets approved?

2.      Are there any other viable options?

[shekar11#]

a. You can use your remaining H-1 before your I-140 gets approved but you need to file a petition again.