I just lost my new iPhone 5?

Alright i'm at the bar I have my phone in my wallet and a few other cards and some money. I drop down off the stool and set a drink down in front of a girl, I say Ello poppet! She slaps the ish out of me and runs. Mind you as I'm inebriated, dazed, and knocked out cold on the floor a goblin walks into the bar. Yea funny short looking little frodo baggins hairy muthaluva steps on me and reaches up to grab my wallet. Now I start to come about and I grab this mutha Luvas leg and I say listen you gooey green goblin give me my Wallet back I don't got no cash! He takes one look at me and says boy you must be stupid did you know you could by crack on credit? Now as I'm helpless pondering how much crack my credit card will be slid for I realize I left my phone in my wallet. Now moral of the story is don't quote jack sparrow if your not going to commandeer anything in your presence but also I lost my iPhone which sucks but hey at least you can buy crack on credit. Is there some sort of locator?

If you have the Find My iPhone app, I strongly recommend locating it now. It will only work if the phone is on, so hope that someone doesn't shut off the phone or the battery runs out. Oh, and the phone has to be connected to a cellular or Wi-Fi connection. I'm not sure about what happens if someone manages to reset it, though.