H1 transfer - Applied H1 Ext..waiting for approval notice

[vsrajan76]

Hi,
I am working with an employer on H1B visa. But, my visa has expired on Oct 09, 2005 itself and my employer has filed an extension in Vermont center. I have received my Receipt noice from USCIS. But yet to receive my Approval notice. Meanwhile, I received an offer from another company, i am willing to join.
I wanted to know, if H1 transfer to the new employer is doable before my extension approval notice comes. Also, I want to understand the risks involved in doing this. Want to understand what could happen in the the worst case also.
Eagerly waiting for your reply.
Thanks - Sundararajan

 

[GotPR?]

2nd company can file H1 petition. But the risk is so called bridging issue.
Read the last Q&A of the last page.

http://uscis.gov/graphics/lawsregs/handbook/AC21intrm051205.pdf

If extension filed by 1st employer was denied, authorized stay based on pending petition was considered broken, so that 2nd H1 petition filed during that period is considered invalid, i.e. subject to denial.