Can my company apply H1B when I am student for second master in US?

I got my master degree computer science in 2011 and now I am working in my company with my OPT extension. Unfortunately , this year H1B cap was filled in first week and we were not able to apply H1B. My EAD will expire January 29 2014. So also I will not able to apply h1b for next year. My plan is that I will register another master program to maintain my f1 status and my company will apply h1b on april 1.

My questions;

1) Can my company apply h1b for me?
2) Do I have to attend school until November 1 2014?
3)When h1b is approved, still my status will be F1 until November 1 2014? or What else?
4) Is there any rejection risk?

Thank you
  1. Yes

  2. No, but at least until Oct 2014 (provided H-1 gets approved w/ COS by that time)

  3. Your employer will have to provide H-1 start date which is typically Oct 1 for petitions files in April.

  4. There is always a risk. There is no risk-proof filing.