H1B Transfer while extension in progress after petition expired


Sumit0907

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My H1B Petition is expired today 06July2017 while my H1B extension was already filed in FEB and is under USCIS processing but my I-94 is valid till 15July2017.

I have got a new job offer and new employer will be filing my transfer in next 1-2 days.

Will this H1B transfer be dependent on my H1 Extension approval (filed by current employer )? ie What will happen to my H1 transfer if my extension is denied or my current employer revoke my extension ? 

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