So, u're sain' u work for company A and have an LC pending for more than 365 days, now you found a company B and are willing to get an extention with them based on the fact that there's an LC pending with Company A.
Very interesting scenario. I'm sure many of us would like to know that

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Well, I'm not a lawyer and looking at the wording of 7-th year extension rule, it seems to say nothing about the limitation that H1B can only extended with the same company as where LC is pending. In fact, such a wording (even if present) would be contradictory since work sponsored GC is employment based and has nothing to do with H1B (the applicant does not even have to be in USA). This could be a loophole and an experienced lawyer might be able to exploit it.
On the other hand, it is obvious that if INS buys the story, the 7-th year extention rule offers literally an unlimited amount of time. Consider this, one could keep applying for LC from different states and companies at different times, assuming there's always "slow" states (oh, yes there are), one could always "have" an LC pending for more than 365 days (even if DOL-s keep rejecting it), and keep extending H1B.
Now, this is obviouslely
not what 7-th year extension rule is all about. It is a weird rule to "help" a hopelessly backloged process instead of simply finanasing it properly and cleaning it out. Do u really think INS officers are not intelligent enough to miss this loophole? Give'em some credit. I'm quite sure it will be a tough case and most likely INS will reject the extension. I'm not sure on what bases though. Smart lawyer might be able to keep sueing them till the dawn of times.
(Darn, I should've been a lawyer

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