Are These Red Flags or Normal Negotiations?

We're in negotiations with a huge company and they've been whittling us down to the point where we're not sure if we should proceed with them as a client.In short: Their original request for proposal was $$$$$ for a total of 5 deliverables.*We were told our bid was leaked to a competing company and they came in lower than us so we lowered our price even more and won the bid.*They asked us to produce a document outlining the amount of discount we gave them. We did (it was a lot).*Came in for approximately 20 hours of project planning with the client.*We turned down other projects at this point cause this was a huge one.*They tell us that they want to change from 5 deliverables to 2 deliverables and want a 45% price reduction. We do it despite it means that we have to eat those initial 20 hours.*They tell us they don't want a 45% price reduction anymore, but that they want a fixed fee at the amount of $$ (which was more like a 66% reduction). We do it -- turned down too many other projects in anticipation of this one. We need whatever money we can get now.*They sign our work agreement and we schedule the project. We turn down other projects now, again.*They tell us that they only want 1 deliverable now and bypass the 30 day cancelation clause in our work agreement by saying they don't have what they would need to give us to start work on the second deliverable.Now they want us to split this project into two which we've already eaten a ton of costs, turned down several projects, and their new schedule is eating into our other projects on the book.This is a huge company and we are a miniscule service provider. We're thinking they'd be a good portfolio client, but at this rate, they're nickel and diming us every step of the way.Is this normal negotiations? We understand we're expendable to them, but we don't want to sink our ship trying to capture a killer whale.Any advice or insight would be hugely appreciated. via /r/business http://ift.tt/2z0hC8D