Received OPT but cannot graduate, What Happens now

[sugobose]

Hi,
I Received my OPT, but due to some reasons I will not be able to gradute.
What happens in this case?

Advisor says that if I cancel my OPT, INS might not issue me one in the future.
In that case I do not wish to cancel my OPT.
I will need one more semester to graduate(i.e Spring 2005).

I have a job which will do my H1B and I will be applying in April 2005.

Please Help me
Thanks in Advance
SB