My employer is trying to revoke my H1B Visa. Can I transfer it to new employer with I -797 B Approval notice?

I got my H1B approval in December 2019 - It is I 797 B - Consulate approval so the status is not active yet . My project has ended last week and I cannot travel outside the country yet for stamping, my employer is now trying to revoke my H1B. When I contacted my university about STEm status they said my STEm OPT status can be re-activated since it is still valid until mid of this year. In this process, can I change my employer as I am currently trying to find a new project and can I transfer my H1B with I 797 B notice [no COS] to this new employer even if it revoked by old employer? Is there any time period within which I should file for H1B transfer??

Please let me know.
Any help would be appreciated.

Thank you,

Yes, if it was COS, then you can continue of OPT. Yes, you maybe able to do that…But, that is slightly grey area as it is consular processing, I suggest you talk to an attorney and act accordingly…

Hi Neak, can you please update the status…if the new employer was able to transfer the H1B (i797b) successfully or not ?
If yes, then was it just a transfer or a change of status as well ?