L1 to H1B Change of status.

[rajasekharba]

I have applied new H1B and L1 extension through employer A and B.

H1B Applied as: Classification as new employment and Requested Action as “Change of status “. It is approved on 10/2/2012.

L1 extension: Applied for L1 extension and approved on 10/21/2012.

Could you please help me to understand the current status?
1) What is my current status? L1 or H1B
2) Can I continue working on H1B?
3) If I have to work on L1, is there any way can I convert to H1b again without stamping