CDMA carrier. On March 17, 2008, nearly a year after Amp'd Mobile Canada's debut, Koodo Mobile was launched by Telus Mobility as their discount MVNO. More importantly, it targeted the youth demographic previously sought by Amp'd. Unlike Amp'd, Koodo does not provide multimedia content. Koodo does, however, offer customizable budget plans for unlimited SMS, MMS, social networking and up to 10 GB of Internet data. Company and subscriber numbers 2006 At the end of 2006, Amp'd Mobile had over 100,000 subscribers. 89 percent of its customer base is on postpaid contracts, and its total average revenue per user is “well over” $100 per month. 2007 Amp'd Mobile filed for Chapter 11 bankruptcy protection June 1, 2007. Its subscriber base at the end of the first quarter was about 175,000 customers. On July 20, Amp'd announced its intentions to sell off all its assets at auction. In addition, Best Buy discontinued carrying the Amp'd post-paid service. On July 21, 2007 text messages began to be sent to Amp'd Mobile customer phones that stated: Your svc may be disconnected on 7.24 @ 12:01 am. Go to www.ampd.com or contact the location where you activated your service for further information. On July 24, 2007, Amp'd website updated its FAQ with potential service disconnection pushed back to July 31, 2007. On July 31, 2007 Amp'd sent a text message: Ampd svc ends @midnight 8/1. Keep your Ampd phone and get 100 free TXT by switching to Prexar Mobile. For info go to http://www.prexarmobile.com Prexar Mobile is now itself out of business, the website is no longer up and running. Prexar Mobile was owned by USA (United Systems Access) Telecom. Bankruptcy On June 1, 2007, Amp'd filed for Chapter 11 bankruptcy. According to court documents, around 80,000 of its 175,000 subscribers were recorded as nonpaying customers. Bankruptcy protection was brought on by Verizon Wireless who threatened to cut off service to Amp'd if debt owed to Verizon wasn't paid. Amp'd Mobile together with its main creditor Kings Road Investment Ltd. sued Verizon Wireless, seeking a court order that barred Verizon from cutting off service to Amp'd Mobile from its network. On June 22, 2007, an agreement was reached between Verizon, Amp'd and Kings Road to pay Verizon off with cash collateral and allow Amp'd the use of Verizon's network. The settlement was heard in the U.S. Bankruptcy Court on June 25, 2007. Amp'd indicated an