L1 to H1 with an old H1 valid

[jkghere]

Hi

I have L1 visa from company A and valid till Sep 5th 2010. I also have valid H1 petition from company B which I have not used and valid till Sep 30th. I am getting a long term oppurtunity to US from company A but they are not ready for L1 ext but ok for H1.

Q1: If they do L1 to H1 (new quota), I can stay only till 5th Sep and then come back, get it stamped and then go back on 1st Oct. Is this true?

Q2: Can I do L1 to H1 using the already approved H1 (cap exempted), in this case if it gets approved even before Oct 1, can I work from that day?

Please let me know

Thanks

[shervin143]

Q1: If they do L1 to H1 (new quota), I can stay only till 5th Sep and then come back, get it stamped and then go back on 1st Oct. Is this true?
>>> That is correct.

Q2: Can I do L1 to H1 using the already approved H1 (cap exempted), in this case if it gets approved even before Oct 1, can I work from that day?
>>> That is correct.