What if failed to apply adjustment of status before the K-1 & K-2 visas expires?

I admitted here in US with K-1 visa together with my 2 child having K-2 visas last Feb.7,2010.I got married with my US citizen husband last April 15,2010.Our visas will expire this second week of July 2010 but till now we havent file yet an Adjustment of Status.But my US citizen husband was biologically father of our 2 kids cause we lived together before in our country. We want to know what are the consequences if we file an AOS after our visas expired? Are our Green Card application will denied or what? Please help....Thanks in advance.