L1 A to H1B conversion - need some information

Hello, I have a question regarding the conversion from L1 to H1. I am currently in the USA on L1 visa… my visa expired in Aug 2012 but my I-94 is valid until Aug 2013… my current employer will apply for extention in next month… i have found another employer who is ready sponser H1…so my question is would there be any issue if i apply L1 and H1 simultaneously… if i get H1 aproved can i wait until next year July 2014 to start work for employer who is sponsering H1…

Here is another question which has the answer you are looking for: http://redbus2us.com/qa/7059/what-effect-of-l1b-extension-on-fresh-h1b