I was working on H1B until I got laid off in the first week of February 2013. My I-94 says that the H1B visa is valid until August 2015. Now I've a job offer in hand as of May 2013. I've been unemployed for last 118 days. I know that the 2014 H1B cap has filled/reached in April.
So does the hiring company apply for H1B visa transfer or a new H1B? Is there any chances that I can H1B approved?
Thank you very much for your time.

If you are from China or India, consult the company's lawyer.