About H1 transfer

Hi, all,

I have questions about transfering H1B.

I submitted I-140 and 485 last year and still waiting for results. And I have EAD.

I am working in university holding H1B. Now I have a chance to work in industry.
The company need me start to work as soon as possible.

Someone told me as long as there is no gap between 2 H1Bs, there will be no problem since I have EAD.

My questions:

1. Can I tranfer H1B since H1B for 2006 reached cap this Feb?

2. After I submit H1B transfer application, do I need wait and start to work until Oct 2006 ?

3. What is my working status during transfering period? H1B or EAD?

Thank you so much for your information.