The H1b cap count was reached on November 22, 2012. No more new H1b applications will be accepted for this forthcoming fiscal year. Below is a copy of the office notice from USCIS.
FY 2012 H-1B Cap Count
On November 22, 2011, USCIS received a sufficient number of petitions to reach the statutory cap for FY 2012. USCIS also received more than 20,000 H-1B petitions on behalf of persons exempt from the cap under the advanced degree exemption as of October 19, 2011. USCIS will reject cap-subject petitions for new H-1B specialty occupation workers seeking an employment start date in FY 2012 that are received after November 22, 2011.
USCIS continues to accept cap-exempt petitions, DOD petitions and Chile/Singapore H-1B1 petitions requesting an employment start date in FY 2012.