Urgent help needed Tier 2 extension on Hold

I have applied for Tier 2 extension and home office had kept my decision on hold. They have asked below questions
1. Company profilt and loss and wage component
2. How the company plan to pay employee wages

My employer had replied to HO today. we are waiting decision

Appreciate your help on below
1. My visa expires on 15 AUg 2017. Suppose i get refusal after my visa expiry how many days i will have to switch to new employer and apply with new COS
2. If i am still waiting for decision .. can i switch to new employer in meantime . Will that have any impact for my new application
3. MY passport and BRP is willl home office. if i want to switch to new employer .. How can i apply without the passport