I was working for Company X as a permanent employee. I have my H1B extension for 3 years based on my I-140 approval till Jan 2014. I moved to company Y just now and got only 1 year extension till Aug 2012. I have also the copy of I140 approval from company X.
My question is

1) Can I still go for H1b extension using my Company X's I140 after one year.
2) Even though we start processing the PERM from new Company Y it will not be 365 rule so my question was if the PERM is not approved before the Aug 2012 so can we use the old Company X's I140. What are the consequences if I140 is revoked by Company X in this case.