My iPhone 5 was lost or stolen?

I got my iPhone 5 a few months ago and I was out and I either dropped it in the park near my house or it was taken, i went back and searched for like 2 hours! I'm freaking out, I've reported it to the police and they said they can't do amything, i went on to the find my iphone thing and it just says "offline" can i track it when it turns on? Or if they try to restore it? Or would they be smart enough to put it in recovery mode first? Can i still track it if the sim is out? I've changed all my passwords (facebook, twitter, gmail, instagram, apple account) i'm lile really worried, i saved up for ages (babysitting etc) help me please:'

Call your phone company and report it as stolen and have them turn off the service. If you have a lock on it then they shouldn't be able to access it.

I hate to tell you this but as awesome as Find My Phone is, it has more than a few things that I'm not a very big fan of. Mainly its limitations. I understand how irritating it is losing a phone, especially when I know you worked so hard to save up for it… But this is how icloud works.

It will never find a phone unless you actually turned the service on when you still had the phone. If you did turn it on, you still might have a hard time finding it. See, not only does the phone have to be turned on, but it also has to be in a wi-fi area. Stolen phones normally are never found. However, you can make the phone useless to whoever might have it and you are also able to wipe out all the content so no one else can get your personal information.