H1 7th yr extension while 140 in progress

[p.prasad44]

Hi,

I'm currently in 6th year of my H1 and it will be completed by April 10th 2013. My employer just started labor process and planning to apply for labor by Aug 2012.

Is there any possibility for me to continue working if my labor gets approved and 140 in progress. I believe we won't be able to apply for extension until 140 approved or 365 days from the date labor applied. Will there be any grace period after H1 expiry or any other possible options for me to work until Aug 2013 and apply for extension at that time. Please suggest.

Thanks in advance.

Prasad.