H1B transfer while petition is in processing?sim

I am currently in USA on H4 VISA. I have applied H1B with CHANGE OF STATUS this year through a company "A" and the petition is still processing.

My query is

  1. Company “B” is ready to transfer my H1B. Can I do that?

  2. If YES to 1, will the first petition cancelled? Or both will be processed simultaneously?

Well did you apply with company A this year in the lottery ? if so then my answer would be - no. only after it has been approved with company A and before 1st of October can apply with company b with the approval letter. after 1st October, you will need 3 months pay stub. These are just my understanding and not the real deal.

Thank you very much for your response