Question regarding H1B Extension based on PERM filing

Hi guys, I have a question regarding H1B extension beyond 6th year (based on PERM filing). I am in L1B visa (completing 5 years in March 2015 and going back to India) and my PERM was filed in May 2014, i didnt get H1B lottery this year. My company might apply in next year’s H1B quota (FY 2016 quota).

In this case, will I eligible for a one year extension (apply by April 2016, considering H1B expires in October 2016) ?

I am confused about the underlined statement below (from USCIS website). If some one knows this, please clarify. Thanks for your help.

7th Year H-1B Extensions Under AC21 104(c) and 106(a) - Question 2 in Page of below PDF

The April 24, 2003 guidance memorandum is modified in the following manner: a petitioner must establish that the above criteria (see Question 1 outlining requirements under Section 106(a)) were or will be met either on or before the requested start date on the H-1B extension application. Thus, an alien is eligible for an extension of H-1B status beyond the 6th year as long as either the qualifying labor certification application or I-140 petition has or will have been pending for at least 365 days prior to the alien’s requested start date, regardless of whether the H-1B extension application was filed prior to the passage of such period If the alien would no longer be in H-1B status at the time that 365 days from the filing of the labor certification application or immigrant petition has run, thus leaving a gap in valid status, then the extension of stay request cannot be granted.