L1A to H1 conversion


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I came to US on L1B visa on March 2010. My visa expired on August 2012 but i am still working in US since my I94 is valid till March 2015. My company has applied for a fresh L1 A visa for me and have booked an interview for me in Canada in April 2014 for the stamping. My company will also be applying green card for me sometime next year, the category will not be EB1 since I was not a manager abroad. I have two questions here


1. If i get L1 A approved I will complete 7 continuous years in US by 2017. will i be able to move to H1 visa after that if my labour gets approved through perm processing
2. My wife's EAD is expiring on June 2014. Can she apply for an extension on March 2014 based on the current I94 and can we travel to Canada together in April.


Thanks in advance!

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