I'm sorry to katileia, sweetchad, lyne and Monalizy.. but I'm going to contradict your opinion! Implied status is complicated to understand!
Jean, before you apply your OWP & PR you have a valid working permit, then from the time your working permit expired but you already apply your OWP & PR.. you are now on implied status. But there is a condition on that, you should continue to work on same employer stated on your working permit and only work the same as stated on your working permit. That is why you don't have a valid status right now!
Second, you ask if you are rejected by CIC on your OWP & PR application? In my opinion, if you ask on this ground (that you don't have valid status).. my answer is NO! CIC can reject you on some ground, but not on this! But they will hold your application until you have a valid status.