Seeking information about expired I-797B approval


I have an H1B I797-B notice of action approval letter, which is showing validity for 3 year starts from 01/Oct/2016 to 14/Sep/2019.

As Trump was elected as a president in the said tenure, I & my employers decided to wait. So, I never went for visa stamping & never travelled to USA.

Recently, another employer who knows me very well want me to hire on H1B & saying that the current I-797B falls under H1B Cap Exempt…!!!

The questions are,

Is my I797-B still valid? As per the notice of action, the final date has already passed.
Am I cap exempt?

I think H1B transfer isn’t possible as my previous employer doesn’t exist anymore.

If I’m cap exempt, then the new employer just need to file fresh H1B application in cap exempt category? Is that true?

In such case, what are the chances to get H1B approval & subsequent visa?

Nishith N.Vyas