Lost an IPhone and reported it stolen.what's next?

I lost my iPhone on 4th of July and I'm assuming I left it on the beach and someone took it. I reported it to Verizon and I reported it stolen. Now what does that do? If some try's to put it on their plan will they take it from them or what?

Call 1-800-myapple, they can track your phone if it has been registered last time i checked at least.

The Serial number for your phone should be on the receipt or contact the store it was purchased from for it if you can't locate the receipt.

Good luck recovering it

PS, i heard a rumor that they are able to use the phones camera remotely to identify its location also, but GPS should suffice.