Being scammed by someone who has been doing this for 10+ years.

After problems began I did some research about the company's owner and have discovered multiple bankruptcies beginning 10+ years ago after scamming others doing the same thing (taking money and not delivering on signed upon agreement).
Here is the part of the agreement that deals with money. I am not sure if the agreement refers to making a single 50% payment and they begin work or making a full 100% payment before work begins. I have changed the company's name. I am asking this question because they are not delivering the services promised in the agreement and am trying to decide if I should dispute the credit card charge or attempt to take the company to small claims.

"Our terms are $7,995.00 (USD) – 50% payment upon execution of this agreement, 50% upon completion of work performed outlined within this agreement"

"Development Cost $7,995.00 Prototype Development ______ initial At time of payment in full the prototype development fee will be applied to the native application development proposal."

"2) Term. The pricing in this Agreement is valid for the full term provided contract is signed within 30 days from the delivery date. Customer satisfaction is of the utmost importance to the ABC Company team and we strive to meet and exceed our customer’s expectations.

3) Payments and Fees. Initial invoice will be billed and due in full upon signing. Invoices for subsequent months will be issued the 1st of each month of which services will be provided and due on receipt. Customer will provide a credit card and authorize ABC Company to charge the provided credit card on the due date noted on the invoice.

After receiving payment, ABC Company will promptly begin its services per this Agreement between the parties"