laid off while h1b transfer pending and I-94 expiring

[Dreamz682]

Please help.

I switched from Company A to consultant B in October 2011.Got laid off on 15th Dec 2011 while H1b transfer was pending. My I-94 from company A is ending on 22nd jan 2012. Thought to look job till 20 jan 2012 (reasonable period)

I want to know what we will be my status after 22nd Jan. ?

If H1B transfer to consultant B itself gets denied will i be out of status from 15th Dec itself? will it affect my future entry to US?

My intention is not to be in unlawful status now. Consultant say if they find job in 4-5 weeks things will be fine.

Please advise, i am thinking to go back to home country before 22 jan and do job there. Scared if H1B transfer gets denied that will cause big problems ?

Please advise what sould i do ?