Does it start again? And, really, not with tiny players...
"If you're an Amp'd Mobile subscriber, you're officially out of luck at midnight, when Amp'd stops providing customer service. Not that the bankrupt wireless carrier was providing much before. The Amp'd FAQ page, for example, tells customers that they can use their phones with Sprint and Verizon Wireless -- but those carriers are telling would-be subscribers that the models are incompatible. There's no graceful exit from Amp'd, in other words."
(source)
Numbers of investment they got sounds big, and they are big. And it is crazy how (with cell/mobile world being on the raise) there were able to waste it.
"Amp'd Mobile, the high-flying, venture-backed MVNO which declared bankruptcy last month after burning through than $375M in venture capital, is set to suspend its operations tomorrow, July 24th. According to Amp'd Mobile's web site, the firm is suspending its operations tomorrow, and will not provide customer service after today. Amp'd was forced into bankruptcy by Verizon, after failing to pay its bills; the company is currently in the midst of trying to find a buyer as it works through bankruptcy proceedings. "
(source)
And according to numerous postings online we can figure out that Amp'd was giving away mobile services to people who could not qualify for credit with other cell companies. Why? May be the answer was stupid and simple -- because they could not afford it! And Amp'd became just one other (big, though) non-paying "customer".
"Verizon Wireless is seeking to terminate its network capacity deal with embattled Amp'd Mobile, filing court papers claiming the MVNO is almost out of cash while racking up charges of $370,000 per day. According to the Associated Press, Verizon wants to cut ties with Amp'd unless the virtual operator secures a debtor-in-possession loan to finance its Chapter 11 bankruptcy proceedings: "Based on the record of this case and the fact that [Amp'd] has been given ample opportunity (over 46 days) to secure debtor-in-possession financing which has not materialized, this court should not permit this case to be run for a single additional day on Verizon Wireless' back," Verizon wrote in court papers filed Tuesday."
(source)