L1B TO H1 . Travel to India and Come back on H1

I am currently in L1b visa , visa was expired but I am staying with valid I94 .
I94 expires in Feb 2015 .
My company is applying for COS from L1 to H1 in April 2014 .
I have a question

  1. If they are applying for L1 to H1 satus change in Apirl 2014,
    Can I go back to India ( i knew I can not come as my L1 is expired )
    but can I go in May or June and come back after getting H1 stamped on or after Oct 2014 ?

  2. Can I travel back to India if they file for COS or is there an issue with going back as they are applying for change of status vs new h1 ?

As soon as you leave Us your COS will be considered abandoned and you will need to get the visa stamped from the US consulate in India before coming back. Your H1B start date would be the same as mentioned on the approval notice(usually 1st Oct)