Well, if that's the case then state that you were willing to do a little bit extra beyond the scope of the contract for free as a token of good will, but that the excess which has been added on to the project by all the changes has gone a bit too far and you can't afford to put so much time into the project. The previously agreed cash sum agreed upon for the project did not cover this work and as such you can't continue the way things are.
Options are to:
A) Re-draft a new contract which will take into account all the extra work needed.
B) Ammend the contract to add on the cost for the extra work and finish off the work as stated in the original contract.
C) End the contract straight away and send a bill to the client for work completed.
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Subtlety is my middle name... and first and last in case you didn't get the point.
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