Is an H1B transfer possible when you did Change of status in last 45 days


CAn someone let me know if I can go ahead for H1B transfer with a new employer when:

I came to US in 2007 on H4.In 2010,I filed for H1B with an employer and it got approved on 10th May 2010.I would have started to work from Oct 2010 but before that the project got scrapped and I never worked.Then in Aug 2012,I applied for change of Status and it got approved as of Sep 2012.However again the project got scrapped and I didnt work for any single day.This company is going to drop my H1 as they are not able to find a job for me.Now there is a new company which interviewed me and wants me to be on their payroll.I want to know is it possible to do another H1B transfer.Is it legal to do?

Please guide me.I am so confused and frustrated…