L1B to expired H1B transfer


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It will be really helpful if you can provide your opinion about transfer from  L1B to old H1B. I was on H1B VISA and left US on Aug 26th 2012 and even though my VISA (petition) was valid till Nov 12th 2012.


I came back on US again July 2015 on L1B VISA. My company is in process of applying Labour and then I140. 


Once my I140 gets approved, can I apply for COS based on my previous expired H1B and then apply for extension based on I140 ?

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