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H1b withdrawal after approval

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I have applied for initial OPT on March 2 and haven't heard back anything from USCIS yet. Meanwhile "Company A" (whom I was supposed to work after I graduate and get my OPT EAD) applied for my h1b under regular processing which got approved last week. However, due to personal and location issues, I won't be joining Employer A and I have already told them. Currently, I have an offer with "Company B" who are willing to sponsor me next year.
My questions are: 
1. Do I lose my F1 OPT status as soon as my H1b gets approved (Not stamped yet from my home country)? What if I don't get my H1b stamped?
2. Can "Company A" withdraw my approved petition and things fall back to normal? 
3. Should I tell " Company B" about this situation? What is the worst that can happen to me at this point in time?

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Filed: K-1 Visa Country: Wales

You have not get a H1b you just came up in the lottery to apply, tell your Employer so they can cancel it.

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

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