Current H1B until Dec 2012, H1B - L1A COS denied. What are my options?

[inquest]

Hi,

I am on H1B with I797/I94 until Dec 2012. My H1B - L1A COS got denied. Would like to know if I can continue to stay on H1B until Dec 2012 or does H1B - L1A denial affects my current H1B validity as well.

Thanks for your help.