F1 OPT to H4 and H1B simultaneously


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I'm on F1-OPT and my company is applying for my H1B this year(last attempt). My OPT ends on June 14th. So in order to maintain my status, we are also thinking of applying for COS to H4 right away as it takes time. If my H4 COS gets approved before H1B lottery results, and then if my H1B gets approved, what will happen? Can I just use my H1B and request to cancel my H4 status? or can I travel back to home country and get H1B stamped and that will automatically cancel the H4? Please advise.


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