H-1B transfer pending status Urgent

[Navall]

I cam to us on L2 Visa in april 2010, then changed to H4 on 19th Dec 2011, when my new h1B is in pending status, then moved on to H1B on Dec 22nd 2011. which is valid till 21st Dec 2012. Now I have to apply for H-1B transfer through another employer but it is getting delayed because of the internal procedures at the employer side. Now my visa and I94 are going to expire on 21 dec 2011,

Can i continue working on reciept number if new employer has filed my h-1 before 21st december.(I-94 will expire on 21st dec 2012)

If the process gets delayed what will be my status? will my status change to H4 automatically or Do i need to follow any procedure to change my status to H4 (Which is valid till 2014 april, but i did not go for stamping for either H-1 or H4)and my I-94 on h4 is given till 2014 april.

If i change my status to H4, can i still apply for H1B extension throught my new employer.

Can you please suggest me the solution for my situation.

[metroguy]

Yes. you can work for the new employer with just the transfer H1B receipt. Your transfer application should be filed before your current I94 expires, otherwise you will be out of status

[Navall]

Thanks for the reply

I have 1 more issue

I heard that It is going to take more than 7 days time to receive receipt number after filing the h1b, My employer is saying that thye are going to file my h1b transfer before 19th, will i get my receipt number? if not what will be my status after 21st december.

in that case can i move on to H-4 what is the process for that, i have h-4 visa which is valid till April 2014 which is not stamped, what is the procedure to move on to my existing H-4 visa.

Thank you